Project Portfolio Management Market cover

Project Portfolio Management Market by Deployments (On-premise and Cloud-based), Offering (Service [Training & Consulting, Support & Maintenance, and Integration & Deployment] and Software), Enterprises (Small & Medium Enterprise and Large Enterprise), End-users (Engineering & Construction, Healthcare, IT & Telecom, BFSI, Government, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-3461
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 6
  • No. Of Pages: 198
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The global project portfolio management market size was valued at USD 4.1 billion in 2020 and is projected to reach a CAGR of 13.2% during the forecast period, 2021–2028. The growth of the market is attributed to the expanding use of cloud-based services for remote assignment monitoring.

Project Portfolio Management Market summary

Project portfolio management (PPM) is a method used by project managers and project management organizations (PMOs) to assess the possibility of a project's success. Managers of the organization can see and examine the entire extent of using project portfolio management for effective execution of projects. The PPM method supports the basic idea of project management by providing a clear path that allows project managers to establish flexible timelines for completing the task. PPM is a powerful movement in automation and digitalization across industries including healthcare, BFSI, government, IT & telecom, and engineering. Moreover, a rise in the bring your device (BYOD) trend and enterprises' increasing focus on achieving quicker Return on Investment (ROI) are pushing the demand for PPM solutions. Increased investments in R&D have aided the creation of novel solutions such as mobile application-based project portfolio management systems, which provide businesses access to a large customer base.

The COVID-19 pandemic outbreak is establishing the framework for future commercial expansion. It has had a significant impact on all organizations' operating activities. As a result, the need for real-time project and portfolio monitoring dashboards is projected to rise in response to the growing requirement to monitor critical business and resource operations remotely.

Market Trends, Drivers, Restraints, and Opportunities

  • Rapid construction activities have sparked high demand for monitoring and analytical solutions to complete task timely and efficiency are driving market growth.
  • Increasing complexity of projects as well as the requirement for timely and effective management services present another key factors boosting the market.
  • High demand for PPM solutions as it ensures the necessity for a 360-degree view of project operations and resource management play a key role for the market expansion.
  • Security and privacy considerations particularly in the case of cloud deployment, are important hurdles that can hamper the implementing of PPM solutions.
  • Complexity and high cost of PPM technologies are two main roadblocks for the market.
  • Cloud-based software is becoming popular and enterprises are increasingly adopting the Bring Your Device (BYOD) trend. Hence this factor is anticipated to create immense opportunities for the market players during the forecast period. 

Scope of the Report

The report on the global project portfolio management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Project Portfolio Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Deployments (On-premise and Cloud-based), Offering (Service [Training & Consulting, Support & Maintenance, and Integration & Deployment] and Software), Enterprises (Small & Medium Enterprise and Large Enterprise), and End-users (Engineering & Construction, Healthcare, IT & Telecom, BFSI, Government, and others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Workfront, Inc.; ServiceNow; Planview, Inc.; Planisware; Microsoft; Oracle; Changepoint Corporation; H.P. Development Company, L.P.; Broadcom; and Celoxis Technologies Pvt. Ltd.

Project Portfolio Management Market Segment Insights

On-premise segment is expected to grow at a rapid pace

Based on deployments, the project portfolio management market is bifurcated into on-premise and cloud-based. The on-premise segment is expected to grow rapidly during the forecast period as it is a traditional method that has been existing since the dawn of the computer era. On-premise implementation provides even more customization choices of organizations. However, the cloud-based segment is anticipated to hold a key share of the market in the coming years due to the requirement of high maintenance solution for companies to upgrade and grow their system. Furthermore, cloud-based PPM systems enable greater operational management across numerous business channels. The adoption of cloud PPM solutions across sectors is likely to be fueled by these advantages.

Support & maintenance segment to expand at a considerable CAGR

On the basis of offering, the market is divided into service and software. The service segment is further segmented into training & consulting, support & maintenance, and integration & deployment. The support & maintenance segment is projected to expand at a considerable CAGR during the forecast period. The rising adoption of PPM system among small and medium businesses (SMEs) to ensure effective support and maintenance services present another key driver of the market. These services make project scoping, planning, and change administration methods more efficient in SMEs. The services offer several benefits such as on-the-job communication, assignment regulating regulations, and improved program facilitation services that contribute to higher productivity and ROI.

Project Portfolio Management Market offering

Large enterprise segment to dominate the market

Based on enterprises, the project portfolio management market is bifurcated into small & medium enterprise and large enterprise. During the projected period, the large enterprise segment is likely to dominate the market due to wide use of the solutions among large corporations to ensure competitive edge in the market. On the other hand, the small & medium enterprise segment is expected to account for a key market share owing to the extensive adoption of the systems by small and medium business organizations. The expansion of the segment is likely to be fueled by an increase in foreign investments in SMEs.

BFSI segment to exhibit a fast growth rate

In terms of end-users, the market is fragmented into engineering & construction, healthcare, IT & telecom, BFSI, government, and others. The overall share of the healthcare segment in the market is projected to increase significantly in the coming years. Healthcare business normally face several challenges in handling a large volume of inconsistent data and numerous complex initiatives. On the other hand, the BFSI segment is anticipated to register a high CAGR during the forecast period as using the solutions help banking and financial organizations to easily operate complicated multi-regional operations by ensuring effective business handle of client transaction data. Technological advancements have aided the adoption of project portfolio management systems in the BFSI business such as mobile banking and e-banking.

North America is anticipated to constitute a key market share

In terms of regions, the project portfolio management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period. The region's financial situation allows the key regional players to make significant investments in cutting-edge technology and systems for effective project execution. However, the market of the Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The rising usage of wireless devices as mobile phones, laptops, and tablets is driving the growth of the PPM market in this region.

Project Portfolio Management Market region

Segments

Segments Covered in the Report

The global project portfolio management market has been segmented on the basis of

Deployments

  • On-premise
  • Cloud-based

Offering

  • Service
    • Training & Consulting
    •  Support & Maintenance
    •  Integration & Deployment
  • Software

Enterprises

  • Small & Medium Enterprise
  • Large Enterprise

End-users

  • Engineering & Construction
  • Healthcare
  • IT & Telecom
  • BFSI
  • Government
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Workfront, Inc.
  • ServiceNow
  • Planview, Inc.
  • Planisware
  • Microsoft
  • Oracle
  • Changepoint Corporation
  • H.P. Development Company, L.P.
  • Broadcom
  • Celoxis Technologies Pvt. Ltd.

Competitive Landscape

Key players competing in the global project portfolio management market are Workfront, Inc.; ServiceNow; Planview, Inc.; Planisware; Microsoft; Oracle; Changepoint Corporation; H.P. Development Company, L.P.; Broadcom; and Celoxis Technologies Pvt. Ltd.

Project Portfolio Management Market keyplayers

Major players actively focus on acquiring small businesses or forming partnerships with them to share business intelligence and expertise. Planisware, for example, purchased software publisher NQI in March 2018 to broaden its cloud solutions offering and expand its client base. Planisware can now address a wider range of demands thanks to NQI's Orchestra PPM solution.
 

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. project portfolio management Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. project portfolio management Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. project portfolio management Market - Supply Chain
  4.5. Global project portfolio management Market Forecast
     4.5.1. project portfolio management Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. project portfolio management Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. project portfolio management Market Absolute $ Opportunity
5. Global project portfolio management Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. project portfolio management Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global project portfolio management Demand Share Forecast, 2019-2026
6. North America project portfolio management Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America project portfolio management Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America project portfolio management Demand Share Forecast, 2019-2026
7. Latin America project portfolio management Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America project portfolio management Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America project portfolio management Demand Share Forecast, 2019-2026
8. Europe project portfolio management Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe project portfolio management Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe project portfolio management Demand Share Forecast, 2019-2026
9. Asia Pacific project portfolio management Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific project portfolio management Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific project portfolio management Demand Share Forecast, 2019-2026
10. Middle East & Africa project portfolio management Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa project portfolio management Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa project portfolio management Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global project portfolio management Market: Market Share Analysis
  11.2. project portfolio management Distributors and Customers
  11.3. project portfolio management Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Workfront, Inc.
     11.4.2. ServiceNow
     11.4.3. Planview, Inc.
     11.4.4. Planisware
     11.4.5. Microsoft
     11.4.6. Oracle
     11.4.7. Changepoint Corporation

Segments Covered in the Report

The global project portfolio management market has been segmented on the basis of

Deployments

  • On-premise
  • Cloud-based

Offering

  • Service
    • Training & Consulting
    •  Support & Maintenance
    •  Integration & Deployment
  • Software

Enterprises

  • Small & Medium Enterprise
  • Large Enterprise

End-users

  • Engineering & Construction
  • Healthcare
  • IT & Telecom
  • BFSI
  • Government
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Workfront, Inc.
  • ServiceNow
  • Planview, Inc.
  • Planisware
  • Microsoft
  • Oracle
  • Changepoint Corporation
  • H.P. Development Company, L.P.
  • Broadcom
  • Celoxis Technologies Pvt. Ltd.

Key players competing in the global project portfolio management market are Workfront, Inc.; ServiceNow; Planview, Inc.; Planisware; Microsoft; Oracle; Changepoint Corporation; H.P. Development Company, L.P.; Broadcom; and Celoxis Technologies Pvt. Ltd.

Project Portfolio Management Market keyplayers

Major players actively focus on acquiring small businesses or forming partnerships with them to share business intelligence and expertise. Planisware, for example, purchased software publisher NQI in March 2018 to broaden its cloud solutions offering and expand its client base. Planisware can now address a wider range of demands thanks to NQI's Orchestra PPM solution.
 

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