Global Statistics

All countries
527,810,077
Confirmed
Updated on May 23, 2022 8:07 am
All countries
483,885,851
Recovered
Updated on May 23, 2022 8:07 am
All countries
6,300,794
Deaths
Updated on May 23, 2022 8:07 am
Monday, May 23, 2022

Global Statistics

All countries
527,810,077
Confirmed
Updated on May 23, 2022 8:07 am
All countries
483,885,851
Recovered
Updated on May 23, 2022 8:07 am
All countries
6,300,794
Deaths
Updated on May 23, 2022 8:07 am
Molderizer and Safe Shield

Project Portfolio Management Market worth $6.5 billion by 2027

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CHICAGO, April 21, 2022 /PRNewswire/ — According to a research report Project Portfolio Management Market with COVID-19 Impact by Component, Deployment Mode, Organization Size (SMEs and Large Enterprises), Vertical (Energy & Utilities, Government & Defense, and IT & Telecom) and Region – Global Forecast to 2027″, published by MarketsandMarkets™, the Project Portfolio Management Market size is expected to grow from USD 4.7 billion in 2022 to USD 6.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.

Browse in-depth TOC on “Project Portfolio Management Market”

420 – Tables
56 – Figures
284 – Pages

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Project portfolio management is a senior leadership discipline that drives strategic execution and maximizes business value delivery by selecting, optimizing, and overseeing project investments that are aligned with business goals and strategies. It is the centralized management of one or more portfolios that enables executive management to meet organizational goals and objectives through efficient portfolio, project, programmer, and operations decision making. Portfolio management is the strategy-based, prioritized collection of all projects and programmer in an organization that are balanced against the resources available to complete them.

The solution segment is estimated to have the largest market size during the forecast period

The fundamentals of managing a project from start to finish requiring a team of individuals with different talents and skills. For organizations with many simultaneous projects, PPM software is used to ensure all projects have the right manpower to be accomplished by the agreed upon deadline, while staying within budget. With capabilities such as resource management; schedule management; demand management; project planning and management; project collaboration; portfolio management; financial management; and request management, the PPM solution helps organizations satisfy their business optimization needs. PPM can be used to bring out changes in an organization and create a flexible structure within the organization in terms of project execution. In this manner, the change will not be a threat to the organization. PPM vendors are actively investing in advanced technologies to improve their solution capabilities and serve the needs of their clients from different verticals.

The large enterprises segment is adopting project portfolio management at a higher rate

Organizations with 1,000 or more employees are categorized as large enterprises. The adoption of PPM solution in large enterprises is said to be high as compared to SMEs. This is due to the availability of advanced infrastructure facilities and high economies of scale that enable organizations to leverage the PPM solution. In today’s highly competitive world, large enterprises particularly leave no stone unturned to capture a higher market share. They are constantly undertaking multiple projects to add new product lines or improve and replace existing products/processes. To achieve economies of scale and scope, firms may want to leverage their resources for new technologies, processes, and products. In addition, because of the increasingly intense international competition, the perspective of multiple project management has become a critical issue for competition.

The consumer goods & retail vertical is expected to hold a higher market share

The consumer goods & retail industry is gaining traction in the adoption of PPM solution and services in order to improve revenue margin and increase the RoI of the company. Retailers are in the surge of adopting all new innovative technologies, such as location-based marketing and internal work localization from one floor to another, to attract customers and take full advantage of online business opportunities, which are vulnerable to various business complexities. Consumer goods companies face an almost unique challenge of managing scale and speed in their project portfolios. Moreover, with disruptions in the supply chain of retail goods during COVID-19 lockdowns, the demand for a robust solution to track and manage goods and resources, such as finances and available workforce, is also rising. According to Avasant’s 2020 study on coronavirus impact index, the COVID-19 pandemic had a severe impact on personnel and supply chains in the retail industry.

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North America to dominate the Project Portfolio Management Market in 2022

Technological advancements in cloud and mobile technologies are expected to fuel the demand for PPM solution and services among key enterprises in North America. The presence of huge IT industry in this region is the key driver of PPM solution in this region. Countries such as the US and Canada are the major contributors of growth in this region. Companies in this mature market are open for various partnerships, collaborations, mergers, and acquisitions to enrich their product line. All the top players in this market have their headquarters in this region. Oracle, Microsoft, Planview, and Broadcom are the key market players in this segment. The PPM market in North America is presently the largest revenue generator as compared to the other regions.

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Market Players

The Project Portfolio Management Market is dominated by companies such as, Oracle (US), Planview (US), Broadcom (US), SAP (Germany), Microsoft (US), Workfront (US), Hexagon (Sweden), ServiceNow (US), Upland Software (US), Micro Focus (UK), Planisware (France), Sciforma (US), Sopheon (US), Cerri (Switzerland), Keyedin Projects (US), One2Team (US), One point Projects (Austria), Miesterplan (Germany), Intelit Smart Group (Brazil), Bestoutcome (UK), Project Objects (Ireland), Workotter (US), Smartsheet (US), Celoxis (India), Wrike (US), Asana (US), Monday.com (Israel), and Cherwell (US).

Browse Adjacent Reports: Software & Services Market Research Reports & Consulting

Related Reports:

Integrated Cloud Management Platform Market with COVID-19 Impact Analysis, by Component (Solutions and Services), Organization Size, Vertical (BFSI, IT & Telecom, Government & Public Sector) and Region – Global Forecast to 2027

APAC Project Portfolio Management Market by Type (Software and Service), Application (Portfolio Management, Financial Management, Resource Management), Deployment, Organization Size, Vertical and Country – Forecast to 2022

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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MarketsandMarkets™ INC.
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