Project Portfolio Management Market Growth, Demand and Challenges of the Key Industry Players 2028

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Global Project Portfolio Management Market Research Report:

The latest report by IMARC, titled “ ProjectPortfolioManagementMarket:GlobalIndustryTrends,Share,Size,Growth,Opportunityand Forecast2023-2028

” "the global project portfolio management market reacheda value of US$5.7Billion in 2022.

Project portfolio management (PPM) includes software solutions that are widely utilized across organizations to assist them managing and prioritizing tasks within dependent, interrelated and connected projects. They aid in improving productivity and gauging potential costs and returns on a particular project.

They also provide consolidated data for business analytics and forecasting market trends while reviewing progress toward operational goals, predicting potential problems and managing budgets in an efficient manner. As a result, it is widely deployed across numerous industry verticals, such as defense,telecommunication, banking,financial services and insurance (BFSI) and manufacturing.

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Global Project Portfolio Management Market Trends:

The global market is majorly driven by rapid digitization across numerous industries. The increasing demand for automation across various workplaces and the rising integration of cloud computing services in organizations have led to the growing deployment of PPM across the globe. This is further supported by the widespread adoption of connected devices across small and medium-sized organizations. The market is also driven by the increasing demand for these solutions from the healthcare sector.

Since PPM assists healthcare providers in managing numerous projects with the help of strategic portfolios for improved efficiency, this is providing an impetus to the market growth. Some of the other factors contributing to the market growth include growing product utilization in life sciences and extensive research and development (R&D) activities in the field of information technology (IT). On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 9.8% during 2023-2028.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).

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MarketSummary:

ComponentInsights:

• Software

• Services

SolutionTypeInsights:

• Information Technology Solutions

• New Product Development Solutions

• Others

DeploymentTypeInsights:

• On-premises

• Cloud-based

OrganizationSizeInsights:

• Large Enterprises

• Small and Medium Enterprises

Report Description Report Description and Highlights

VerticalInsights:

• Energy and Utilities

• Government and Defense

• IT and Telecom

• Banking,Financial and Insurance Services

• Manufacturing

• Healthcare and Life Science

• Consumer Goods and Retail

• Others

RegionalInsights:

• North America

• United States

• Canada

• Asia Pacific

• China

• Japan

• India

• South Korea

• Australia

• Indonesia

• Others

• Europe

• Germany

• France

• United Kingdom

• Italy

• Spain

• Russia

• Others

• Latin America

• Brazil

• Mexico

• Others

• Middle East and Africa

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CompetitiveLandscapewithKeyPlayers:

• 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.

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