The global Project Portfolio Management market size is expected to be worth around US$ 11.4 billion by 2028, according to a new report by Vision Research Reports.
The global Project Portfolio Management market size was valued at US$ 4.4 billion in 2020 and is anticipated to grow at a CAGR of 13.4% during forecast period 2021 to 2028.
Growth Factors
Growing trend of bring your own device (BYOD) among businesses is expected to improve employee productivity and real-time project monitoring, thereby, making it feasible to implement project portfolio management (PPM) solutions. Multi-regional businesses are fueling the demand for project portfolio management solutions to foster effective decision-making and prevent complexities. Extensive use of PPM solutions in data analytics to offer convenient services to customers at low costs in the BFSI and IT and telecom sectors is anticipated to drive the market growth.
The global rise in urbanization and digitization has made businesses to switch toward using technology driven solutions to meet the rapid pace of business growth. Emerging businesses that adopt cloud-based services, mainly in developing economies such as Asia Pacific, are expected to fuel the PPM market growth over the forecast period. Furthermore, facilities such as low setup costs, improved security, and increased collaboration opportunities, provided by the cloud-based solutions are expected to increase business productivity and overall growth of an organization.
Report Highlights
The service segment comprises integration and deployment, support and maintenance, and training and consulting services. The service segment is anticipated to witness rapid growth over the forecast period. The surging demand can be attributed to the innovative services offered by the market players such as process assessment, process improvement, and reporting and analysis. Developments in project portfolio management services such as on-the-job communication facility, assignment governing policies, and program facilitation services help organizations in comparing macro-environmental factors that lead to increased productivity and ROI.
The on-premise segment dominated the project portfolio management market in 2019 as it has been a classical approach that has existed since the beginning of the computer age. On-premise solution offers total control over the software as all sensitive data is stored internally and there is no risk of exposing it to a third-party. On-premise deployment further enables more options for customizations. However, the companies are increasingly shifting toward the usage of cloud-based solutions as on-premise solutions have higher operational costs. The other factor is the high maintenance requirements as it becomes the organization's responsibility to upgrade and scale the solution when required.
The small and medium enterprise segment is expected to expand at the highest CAGR over the forecast period. The growth in foreign investments toward SMEs is expected to drive the growth of the segment. The growing SMEs in emerging economies and increasing penetration of information technology services is further contributing to the segment growth. These solutions offer effective monitoring and control of business functions and help in business optimization and decision making for SMEs.
Project portfolio management solutions facilitate the BFSI industry in managing customer transaction data due to its complex multi-regional operation. Technological proliferation in the BFSI industry, such as mobile banking and e-banking, have encouraged the implementation of project portfolio management solutions. Furthermore, the usage of other services by banks such as debit, credit, and centralized fund managing system has led to the usage of these solutions for database monitoring. These solutions facilitate in monitoring transactional data, customer information, and subsequently help in providing high transparency.
North America dominated the market in 2019 and is deemed as the most advanced region in terms of adopting the latest technologies and cloud-based solutions. The region’s financial positioning enables it to invest substantially in leading technologies and tools for efficient project operations. Additionally, the presence of several prominent PPM solution providers such as Microsoft, Oracle, and Workfront in North America is expected to significantly drive the market growth in the region.
Key Players
Broadcom
Celoxis Technologies Pvt. Ltd.
Changepoint Corporation
HP Development Company, L.P.
ServiceNow
Planview, Inc.
Planisware
Microsoft
Oracle
Workfront, Inc.
Market Segmentation
Offering Outlook
Software
Service
Integration & Deployment
Support & Maintenance
Training & Consulting
Deployment Outlook
Cloud
On-premise
Enterprise Size Outlook
Large Enterprise
Small & Medium Enterprise
End-Use Outlook
BFSI
Government
Engineering & Construction
Healthcare
IT & Telecom
Others
Regional Outlook
North America
U.S.
Canada
Europe
Germany
U.K.
Asia Pacific
China
India
Japan
Latin America
Brazil
MEA
The Project Portfolio Management market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Project Portfolio Management market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Project Portfolio Management market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Project Portfolio Management market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Project Portfolio Management market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Project Portfolio Management capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Project Portfolio Management by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Project Portfolio Management market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Project Portfolio Management market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Project Portfolio Management market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Project Portfolio Management industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Project Portfolio Management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Project Portfolio Management market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Project Portfolio Management market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Project Portfolio Management market. These factors have benefited the growth of the global market for Project Portfolio Management. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Project Portfolio Management. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Project Portfolio Management are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers