Project Portfolio Management Market Growth, Size, Trends, Share, Demand and Future Outlook
Project Portfolio Management Market Size- By Component, By Deployment Mode, By Vertical, By Organization Size- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Mar-2024 | Report ID: IACT2452 | Pages: 1 - 205 | Formats*: |
| Category : Information & Communications Technology | |||
Project Portfolio Management Market Introduction and Overview
According to SPER Market Research, the Global Project Portfolio Management Market is estimated to reach USD 14.87 billion by 2033 with a CAGR of 9.34%.
The report includes an in-depth analysis of the Global Project Portfolio Management Market, including market size and trends, product mix, applications, and supplier analysis. The centralized administration of the organization's projects is known as project portfolio management, or PPM. Even though these initiatives might not be connected to one another, they are all managed centrally under a portfolio, which has the important advantage of monitoring and controlling any conflicting resources. In order to optimize organizational performance, project portfolio management allocates funds, personnel, and time slots after evaluating potential projects according to their chances of success and related hazards. It also includes high-level monitoring and controls to guarantee that ongoing projects are closely linked to the company's overall objectives and strategy.
- May 2023: Planview launched a new PPM pro feature in May 2023. Admin users may now enable the new notification log by submitting a support issue.
- May 2022: The most recent iteration of Adobe Workfront was released in May 2022, enabling teams to combine their work management, asset management, marketing strategy, and content creation to create remarkable digital experiences for clients. Marketing teams may be more responsive and fluid, allowing them to swiftly adjust to shifting market circumstances and possibilities thanks to newly developed agile capabilities. Teams may work more productively and produce higher-quality work by utilizing lean agile concepts and a new, adaptable, visual board.
Market Opportunities and Challenges
Management of project portfolios It is projected that growing need for digital transformation initiatives will drive market development. Digital transformation has become a top focus for companies in all sectors as they look to leverage technology to improve customer experience, operational performance, and competitive advantage. PPM is essential to the efficient management and implementation of digital transformation initiatives. Digital transformation encompasses a wide range of initiatives and activities, among which the adoption of new technology and the implementation of process adjustments are only two examples. With PPM, firms may prioritize these initiatives and align them with their overarching objectives. Organizations may evaluate the potential effects, risks, and benefits of digital transformation initiatives with the help of PPM solutions.
PPM lacks standardized protocols and frameworks. Different industries and firms may utilize different approaches, which can lead to discrepancies and complicate performance benchmarking. Since there are no internationally accepted standards, it is challenging to obtain and implement consistent PPM methods. Determining PPM best practices that are beneficial across all sectors is difficult since various businesses have distinct requirements and constraints. Due to particular project features, regulations, and compliance requirements, industries like construction, healthcare, and IT may need to adopt bespoke PPM methodologies. The absence of industry-specific best practices might impede the adoption of standardized PPM methodologies. Furthermore, the absence of standards may make it challenging for PPM practitioners to collaborate and share expertise.
Market Competitive Landscape
Leading businesses are using blockchain, cloud computing, internet of things (IoT), artificial intelligence (AI), machine learning (ML), and sensors into PPM. These developments can assist in resource allocation by forecasting the best-fit resources for different project tasks based on prior performance and skill sets. They can also help assess historical project data to anticipate future outcomes, such as the likelihood of project success or potential delays. Some of the key players are Broadcom, Celoxis Technologies Pvt.Ltd., HP Development Company, L.P., Service Now, SAP SE, Plainsview Inc., Plainsware, Microsoft, Oracle, Workfront Inc. and others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By Deployment Mode, By Organization Size, By Vertical. |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Broadcom, Celoxis Technologies Pvt.Ltd. HP Development Company, L.P., Service Now, SAP SE, Plainsview Inc., Plainsware, Microsoft, Oracle, Workfront Inc. and others. |
COVID-19 Impact on Global Project Portfolio Management Market
The COVID-19 epidemic has had an enormous effect on the day-to-day operations of all businesses. An increasing number of offline corporate projects and operations are shifting to a remote working setting. Project managers started reviewing the project and portfolio management solutions they were using. Consequently, the pandemic impeded the market's advancement. Through the remote administration of many projects during the COVID-19 pandemic, project portfolio management technologies aided in the achievement of organizational goals. Project collaboration features including file sharing and synchronization, project status monitoring, virtual meetings and video conferencing, reporting, and file sharing were among the crucial components that PPM systems offered for effective project management.
Key Target Audience:
- Enterprises and Organizations
- Project Managers and Teams
- IT Departments and CIOs
- Executives and Business Leaders
- Consulting Firms and Solution Providers
- Academic Institutions
- Non-Profit Organizations
- Investors and Financial Analysts
- Regulatory Bodies and Standards Organizations
Our in-depth analysis of the Europe Project Portfolio Management Market includes the following segments:
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| By Deployment Mode: |
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| By Organization Size: |
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| By Vertical: |
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Key Topics Covered in the Report:
- Global Project Portfolio Management Market Size (FY’2024-FY’2033)
- Overview of Global Project Portfolio Management Market
- Segmentation of Global Project Portfolio Management Market By Component (Solution and Services)
- Segmentation of Global Project Portfolio Management Market By Deployment Mode(On Premises, Cloud Basis)
- Segmentation of Global Project Portfolio Management Market By Vertical (Energy and Utilities, Government and Defense, BFSI, IT and Telecom)
- Segmentation of Global Project Portfolio Management Market By Organization Size (Large Enterprises and SMEs)
- Statistical Snap of Global Project Portfolio Management Market
- Expansion Analysis of Global Project Portfolio Management Market
- Problems and Obstacles in Global Project Portfolio Management Market
- Competitive Landscape in the Global Project Portfolio Management Market
- Impact of COVID-19 and Demonetization on Global Project Portfolio Management Market
- Details on Current Investment in Global Project Portfolio Management Market
- Competitive Analysis of Global Project Portfolio Management Market
- Prominent Players in the Global Project Portfolio Management Market
- SWOT Analysis of Global Project Portfolio Management Market
- Global Project Portfolio Management Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Project Portfolio Management Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Project Portfolio Management Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Project Portfolio Management Market
7. Global Project Portfolio Management Market, By Component(USD Million)
7.1. Global Project Portfolio Management Market Value Share and Forecast, By Component, 2024-20337.2. Solution and Service
8. Global Project Portfolio Management Market, By Deployment Mode (USD Million)
8.1. Global Project Portfolio Management Market Value Share and Forecast, By Deployment Mode, 2024-20338.2. On Premises8.3. Cloud Basis
9. Global Project Portfolio Management Market, By Organization Size (USD Million)
9.1. Global Project Portfolio Management Market Value Share and Forecast, By Organization Size, 2024-20339.2. Large Enterprises and SMEs
10. Global Project Portfolio Management Market, By Vertical (USD Million)
10.1. Global Project Portfolio Management Market Value Share and Forecast, By Vertical, 2024-203310.2. Energy and Utilities10.3. Government and Defense10.4. BFSI10.5. IT and Telecom
11. Global Project Portfolio Management Market Forecast, 2020-2033 (USD Million)
11.1. Global Project Portfolio Management Market Size and Market Share
12. Global Project Portfolio Management Market, By Component 2020-2033 (USD Million)
12.1. Global Project Portfolio Management Market Size and Market Share By Component (2020-2026)
12.2. Global Project Portfolio Management Market Size and Market Share By Component (2027-2033)
13. Global Project Portfolio Management Market, By Deployment Mode 2020-2033 (USD Million)
13.1. Global Project Portfolio Management Market Size and Market Share By Deployment Mode (2020-2026)
13.2. Global Project Portfolio Management Market Size and Market Share By Deployment Mode (2027-2033)
14. Global Project Portfolio Management Market, By Organization Size, 2020-2033 (USD Million)
14.1. Global Project Portfolio Management Market Size and Market Share By Organization Size (2020-2026)14.2. Global Project Portfolio Management Market Size and Market Share By Organization Size (2027-2033)
15. Global Project Portfolio Management Market, By Vertical, 2020-2033 (USD Million)
15.1. Global Project Portfolio Management Market Size and Market Share By Vertical(2020-2026)15.2. Global Project Portfolio Management Market Size and Market Share By Vertical (2027-2033)
17. Global Project Portfolio Management Market, By Region, 2020-2033 (USD Million)
17.1. Global Project Portfolio Management Market Size and Market Share By Region (2020-2026)17.2. Global Project Portfolio Management Market Size and Market Share By Region (2027-2033)17.3. Asia-Pacific17.3.1. Australia17.3.2. China17.3.3. India17.3.4. Japan17.3.5. South Korea17.3.6. Rest of Asia-Pacific17.4. Europe17.4.1. France17.4.2. Germany17.4.3. Italy17.4.4. Spain17.4.5. United Kingdom17.4.6. Rest of Europe17.5. Middle East and Africa17.5.1. Kingdom of Saudi Arabia17.5.2. United Arab Emirates17.5.3. Rest of Middle East & Africa17.6. North America17.6.1. Canada17.6.2. Mexico17.6.3. United States17.7. Latin America17.7.1. Argentina17.7.2. Brazil17.7.3. Rest of Latin America
18. Company Profile
18.1. Broadcom18.1.1. Company details18.1.2. Financial outlook18.1.3. Product summary18.1.4. Recent developments18.2. Celoxis Technologies Pvt. Ltd.18.2.1. Company details18.2.2. Financial outlook18.2.3. Product summary18.2.4. Recent developments18.3. HP Development Company, L.P.18.3.1. Company details18.3.2. Financial outlook18.3.3. Product summary18.3.4. Recent developments18.4. Plainsware18.4.1. Company details18.4.2. Financial outlook18.4.3. Product summary18.4.4. Recent developments18.5. Plansview,Inc.18.5.1. Company details18.5.2. Financial outlook18.5.3. Product summary18.5.4. Recent developments18.6. Service Now18.6.1. Company details18.6.2. Financial outlook18.6.3. Product summary18.6.4. Recent developments18.7. SAP SE18.7.1. Company details18.7.2. Financial outlook18.7.3. Product summary18.7.4. Recent developments18.8. Microsoft18.8.1. Company details18.8.2. Financial outlook18.8.3. Product summary18.8.4. Recent developments18.9. Oracle18.9.1. Company details18.9.2. Financial outlook18.9.3. Product summary18.9.4. Recent developments18.10. Workfront, Inc.18.10.1. Company details18.10.2. Financial outlook18.10.3. Product summary18.10.4. Recent developments18.11. Others
19. List of Abbreviations
20. Reference Links
21. Conclusion
22. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Project Portfolio Management Market is projected to reach USD 14.87 Billion by 2033, growing at a CAGR of 9.34% during the forecast period.
Project Portfolio Management Market size from 2022. The Market is expected to reach USD 14.87 Billion by 2033, at a CAGR of 9.34% during the forecast period.
Project Portfolio Management Market CAGR of 9.34% during the forecast period.
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Project Portfolio Management Market size is 14.87 Billion from 2024 to 2033.
Project Portfolio Management Market Segment is covered By Component, By Deployment Mode, By Organization Size, By Vertical.
The North America is anticipated to have the highest market share in the Project Portfolio Management Market.
The key players in the market include Companies Covered Broadcom, Celoxis Technologies Pvt.Ltd. HP Development Company, L.P., Service Now, SAP SE, Plainsview Inc., Plainsware, Microsoft, Oracle, Workfront Inc. and others.
It also includes high-level monitoring and controls to guarantee that ongoing projects are closely linked to the company's overall objectives and strategy.
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