Project Portfolio Management (PPM) Market (Updated Version Available)
Project Portfolio Management (PPM) Market Size, Share & Trends Analysis, By Component (Software and Service), Deployment (Cloud and On-Premises), Organization size (Large enterprise and Small & Medium Enterprise), By End-user (BFSI, IT & Telecom, Healthcare, Retail, and Others), By Region, Forecast Period- 2023-2030
Report ID : RI_673817 | Date : March 2023 |
Format : 
Key Market Overview:
The Project Portfolio Management (PPM) Market was valued at USD 4,290 Million in 2022, registering a CAGR of 7.3% during the forecast period (2023-2030), and the market is projected to be worth USD 7,295.37 Million by 2030.
Project portfolio management (PPM) is referred as centralized management process used by project management organizations to identify potential projects and analyze return on undertaking a project. PPM operates by organizing and consolidating various pieces of data regarding projects. The management involves high level monitoring and project tracking to ensure connectivity of ongoing projects with business priorities. Additionally, PPM helps the project managers to track inventory, resource management, and reports generation. The management is associated with review and monitoring technique to track and streamline anomalies and delays of the project. Moreover, PPM also provide various techniques such as mapping technique, scoring technique, and heuristic model for the assessment of projects.
Furthermore, increased demand for analytical monitoring solutions in businesses is driving the growth of project portfolio management (PPM) market. PPM aid to provide 360-degree view of project operation and resource management. Rapid digitalization is providing new opportunity to the businesses to optimize project operations by implementation of PPM practices. Additionally, Cloud-based system have capability to integrate corporate operations with business strategies. Thus, rising adoption of cloud-based system is propelling the demand of project portfolio management solution. For instance, in November 2020, ServiceNow acquired Element AI, to offer smart workflow platform for identification and analysis of project operation.
Project Portfolio Management (PPM) Report Coverage:
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Market Dynamics:
Driver:
Rapid digitalization and rising adoption of cloud-based system is driving the growth of project portfolio management (PPM) market.
Rapid digitalization and rising adoption of cloud-based system is driving the growth of project portfolio management (PPM) market.
Growing demand for cloud computing tool for real time data analytics and monitoring anomalies of the project is driving the growth of project portfolio management (PPM) market.
Additionally, complexities faced by the organizations to align the project in changing business environment led to inaccurate scheduling and poor project estimation. PPM provide improved project performance and analytical monitor for assessment of project. PPM enhance project transparency for precise decision making.
Moreover, companies continue to develop innovations to assist long term projects. For instance, in March 2022, Planisware launched new products such as PM Go!, a project management and collaboration platform for project managers. Thus, rising adoption of cloud-based solutions for business operations is driving the growth of project portfolio (PPM) market.
Restraint:
Concern regarding data security and confidentiality is limiting the growth of project portfolio management (PPM) market.
Concern regarding data security and confidentiality is limiting the growth of project portfolio management (PPM) market.
Rising cybercrime events and security concern is hindering the growth of project portfolio management (PPM) market. Moreover, accessibility of project management applications on mobile devices is prone to data loss. Small & medium enterprises use low-cost public cloud services which are more vulnerable to cyberattacks. Thus, issues related to data privacy and confidentiality is hampering the growth of project portfolio management (PPM) market.
Project Portfolio Management (PPM) Market Segmentation:
By Component
The Component segment is bifurcated into Software and Service.
Software segment captured largest market share owing to rapid adoption of PPM by IT vendors for project assessments. Software also provides additional features including robust reporting and analyzing coupled with flexible pricing packages to the users. For instance, Planview PPM pro software provide features such as project time tracking, project team collaboration tool, project budget management, project intake management, and project prioritization alignment.
Services segment is expected to grow steadily during forecast period owing to rising demand of project portfolio customization and delivery services. Services segment comprises training & consulting, and support & maintenance, to provide solution and services for advanced portfolio management.
By Organization size
The organization size segment is distributed into Large enterprise and Small & Medium enterprise.
Large enterprise segment accounted largest revenue share of project portfolio management (PPM) market due to growing need of project management software and increasing popularity for project management offices (PMOs). Thus, rising requirements for management solution for business portfolio is driving the market.
Small and Medium enterprises is expected to showcase rapid growth during forecast period due to rising adoption of digitalization and emerging technologies. Additionally, cloud-based system offers flexible solution resulting rapid adoption of software by small and medium enterprises.
By End-User
The end-user segment is categorized into BFSI, IT & Telecom, Healthcare, Retail, and Others.
IT & telecommunication segment captured major market share due to rising adoption of PPM solution to manage and analyze projects. Additionally, expansion of business network and implementation of advanced PPM system has propelled the growth of IT & telecommunication segment for project portfolio management market.
Healthcare segment is expected to grow during forecast period owing to rising demand of PPM solution manage, organize, plan healthcare services. PPM solution helps healthcare sector to improve the quality of patient care, reduce equipment installation time, and minimize waiting time.
By Region
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
North America accounted major market share for project portfolio management (PPM) market owing to advancement of infrastructure and adoption of cloud-based solutions to monitor project operations and resource management. Additionally, market players are adopting business strategies including merger and acquisition to improve business services and client base. For instance, in December 2021, Tempo Software, leader of team management solution, acquired ALM work, to assist client to work efficiently and make better decision.
Asia Pacific region is expected to grow rapidly during forecast period due to rapid digitalization and adoption of advanced technologies. Additionally, rising demand for cloud-based solution for project management is driving the growth of project portfolio management in Asia Pacific region. Thus, rapid adoption of advanced technologies resulting to acceptance of project portfolio management methodologies for business optimization. For instance, Epicor, provide project portfolio management platform to help the organization to manage the projects and also provide information for project investment opportunities.
Project Portfolio Management (PPM) Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the Global Project Portfolio Management (PPM) Market. Key players in the market include-
• Adobe Workfront Inc.
• Celoxis Technologies Pvt. Ltd.
• Upland Software
• Oracle
• SAP
• Cerri
• Intelit Smart Group
• Bestoutcome
• Monday.com
• Asana
• Miesterplan
• MicroFocus
• Planview
• Planisware
Recent Developments:
• In January 2021, Planview announced acquisition of Clarizen and Changepoint, to enable organization for better collaboration and effective execution.
• In April 2020, Planview partnered with Cherwell Software, for promotion of PPM solution and help the organizations to develop strategic operation.
The Project Portfolio Management (PPM) Market was valued at USD 4,290 Million in 2022, registering a CAGR of 7.3% during the forecast period (2023-2030), and the market is projected to be worth USD 7,295.37 Million by 2030.
Project portfolio management (PPM) is referred as centralized management process used by project management organizations to identify potential projects and analyze return on undertaking a project. PPM operates by organizing and consolidating various pieces of data regarding projects. The management involves high level monitoring and project tracking to ensure connectivity of ongoing projects with business priorities. Additionally, PPM helps the project managers to track inventory, resource management, and reports generation. The management is associated with review and monitoring technique to track and streamline anomalies and delays of the project. Moreover, PPM also provide various techniques such as mapping technique, scoring technique, and heuristic model for the assessment of projects.
Furthermore, increased demand for analytical monitoring solutions in businesses is driving the growth of project portfolio management (PPM) market. PPM aid to provide 360-degree view of project operation and resource management. Rapid digitalization is providing new opportunity to the businesses to optimize project operations by implementation of PPM practices. Additionally, Cloud-based system have capability to integrate corporate operations with business strategies. Thus, rising adoption of cloud-based system is propelling the demand of project portfolio management solution. For instance, in November 2020, ServiceNow acquired Element AI, to offer smart workflow platform for identification and analysis of project operation.
Project Portfolio Management (PPM) Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 7,295.37 million |
| CAGR (2022-2030) | 7.3 % |
| Base Year | 2022 |
| By Component | Software and Service |
| By Deployment | Cloud and On-Premises |
| By Organization size | Large enterprise and Small & Medium enterprise |
| By End-user | BFSI, IT & Telecom, Healthcare, Retail, and Others |
| By Geography | |
| Key Players | Broadcom, Hexagon, Celoxis Technologies Pvt. Ltd., Oracle, SAP, Workfront Inc., Cerri, Changepoint Corporation, Upland Software, Intelit Smart Group, Bestoutcome, Monday.com, Asana, Miesterplan, MicroFocus, Planview, Planisware |
Market Dynamics:
Driver:
Rapid digitalization and rising adoption of cloud-based system is driving the growth of project portfolio management (PPM) market.
Rapid digitalization and rising adoption of cloud-based system is driving the growth of project portfolio management (PPM) market.
Growing demand for cloud computing tool for real time data analytics and monitoring anomalies of the project is driving the growth of project portfolio management (PPM) market.
Additionally, complexities faced by the organizations to align the project in changing business environment led to inaccurate scheduling and poor project estimation. PPM provide improved project performance and analytical monitor for assessment of project. PPM enhance project transparency for precise decision making.
Moreover, companies continue to develop innovations to assist long term projects. For instance, in March 2022, Planisware launched new products such as PM Go!, a project management and collaboration platform for project managers. Thus, rising adoption of cloud-based solutions for business operations is driving the growth of project portfolio (PPM) market.
Restraint:
Concern regarding data security and confidentiality is limiting the growth of project portfolio management (PPM) market.
Concern regarding data security and confidentiality is limiting the growth of project portfolio management (PPM) market.
Rising cybercrime events and security concern is hindering the growth of project portfolio management (PPM) market. Moreover, accessibility of project management applications on mobile devices is prone to data loss. Small & medium enterprises use low-cost public cloud services which are more vulnerable to cyberattacks. Thus, issues related to data privacy and confidentiality is hampering the growth of project portfolio management (PPM) market.
Project Portfolio Management (PPM) Market Segmentation:
By Component
The Component segment is bifurcated into Software and Service.
Software segment captured largest market share owing to rapid adoption of PPM by IT vendors for project assessments. Software also provides additional features including robust reporting and analyzing coupled with flexible pricing packages to the users. For instance, Planview PPM pro software provide features such as project time tracking, project team collaboration tool, project budget management, project intake management, and project prioritization alignment.
Services segment is expected to grow steadily during forecast period owing to rising demand of project portfolio customization and delivery services. Services segment comprises training & consulting, and support & maintenance, to provide solution and services for advanced portfolio management.
By Organization size
The organization size segment is distributed into Large enterprise and Small & Medium enterprise.
Large enterprise segment accounted largest revenue share of project portfolio management (PPM) market due to growing need of project management software and increasing popularity for project management offices (PMOs). Thus, rising requirements for management solution for business portfolio is driving the market.
Small and Medium enterprises is expected to showcase rapid growth during forecast period due to rising adoption of digitalization and emerging technologies. Additionally, cloud-based system offers flexible solution resulting rapid adoption of software by small and medium enterprises.
By End-User
The end-user segment is categorized into BFSI, IT & Telecom, Healthcare, Retail, and Others.
IT & telecommunication segment captured major market share due to rising adoption of PPM solution to manage and analyze projects. Additionally, expansion of business network and implementation of advanced PPM system has propelled the growth of IT & telecommunication segment for project portfolio management market.
Healthcare segment is expected to grow during forecast period owing to rising demand of PPM solution manage, organize, plan healthcare services. PPM solution helps healthcare sector to improve the quality of patient care, reduce equipment installation time, and minimize waiting time.
By Region
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
North America accounted major market share for project portfolio management (PPM) market owing to advancement of infrastructure and adoption of cloud-based solutions to monitor project operations and resource management. Additionally, market players are adopting business strategies including merger and acquisition to improve business services and client base. For instance, in December 2021, Tempo Software, leader of team management solution, acquired ALM work, to assist client to work efficiently and make better decision.
Asia Pacific region is expected to grow rapidly during forecast period due to rapid digitalization and adoption of advanced technologies. Additionally, rising demand for cloud-based solution for project management is driving the growth of project portfolio management in Asia Pacific region. Thus, rapid adoption of advanced technologies resulting to acceptance of project portfolio management methodologies for business optimization. For instance, Epicor, provide project portfolio management platform to help the organization to manage the projects and also provide information for project investment opportunities.
Project Portfolio Management (PPM) Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the Global Project Portfolio Management (PPM) Market. Key players in the market include-
• Adobe Workfront Inc.
• Celoxis Technologies Pvt. Ltd.
• Upland Software
• Oracle
• SAP
• Cerri
• Intelit Smart Group
• Bestoutcome
• Monday.com
• Asana
• Miesterplan
• MicroFocus
• Planview
• Planisware
Recent Developments:
• In January 2021, Planview announced acquisition of Clarizen and Changepoint, to enable organization for better collaboration and effective execution.
• In April 2020, Planview partnered with Cherwell Software, for promotion of PPM solution and help the organizations to develop strategic operation.
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| Multi user | : $5460 |
| Corporate user | : $7460 |
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