According to IMARC Group’s latest report, titled “Project Portfolio Management Market: Industry Trends, Share, Size, Opportunity and Forecast 2022-2027,” The global project portfolio management market reached a value of US$ 5.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.2 Billion by 2027, exhibiting a CAGR of 10.05% during 2022-2027.

Project portfolio management, or PPM, represents numerous tools and solutions utilized by organizations for prioritizing and managing tasks within dependent, interrelated, and connected projects. In terms of the solution types, they can be categorized into information technology solutions and new product development solutions. Project portfolio management systems help to gauge potential costs and returns on a particular project and consolidate data for business analytics and forecasting market trends. They assist in predicting potential problems, managing budgets, addressing the concerns of stakeholders through several heuristic models, reviewing progress toward operational goals, scoring techniques, etc. As a result, project portfolio management services find extensive applications across various sectors, including energy, manufacturing, telecommunication, defense, banking, healthcare, retail, information technology (IT), etc.

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Market Trends

The emerging trend of digitization across the globe and the escalating need for automation in multiple industries are primarily driving the project portfolio management market. In addition to this, the growing integration of cloud computing services and the expanding penetration of connected devices, especially in small and medium-sized organizations, are acting as significant growth-inducing factors. Moreover, the introduction of advanced solutions by leading PPM vendors that can support agile methodologies to achieve end-to-end project transparency, minimize failure rates, and control project costs are further bolstering the market growth. Besides this, the increasing adoption of the solution by the healthcare establishments for managing and evaluating a large number of projects by grouping them into strategic portfolios and streamlining the operations for improved efficiencies is expected to propel the project portfolio management market over the forecasted period.

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List of Key Companies Covered in this Market Report:

  • Broadcom Inc.,
  • Celoxis Technologies Pvt. Ltd.
  • Changepoint Corporation
  • Clarizen, Inc.
  • HP Development Company
  • Innotas
  • Keyedln Solutions LLC
  • Microsoft Corporation
  • Oracle Corporation Planisware
  • Planview Inc.
  • SAP SE
  • Workfront Inc.

Breakup by Component:

  • Software
  • Services

Breakup by Solution Type:

  • Information Technology Solutions
  • New Product Development Solutions
  • Others

Breakup by Deployment Type:

  • On-premises
  • Cloud-based

Breakup by Organization Size:

  • Large Enterprises
  • Small and Medium Enterprises

Breakup by Vertical:

  • Energy and Utilities
  • Government and Defense
  • IT and Telecom
  • Banking, Financial and Insurance Services
  • Manufacturing
  • Healthcare and Life Science
  • Consumer Goods and Retail
  • Others

Breakup by Geography:

  • North America (U.S. & Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

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