Press release
Global Project Portfolio Management Market to Hit US$ 9.2 Billion by 2027, CAGR of 10.05%
The global project portfolio management market reached a value of US$ 5.2 Billion in 2021. 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. Looking forward, IMARC Group expects the market to reach US$ 9.2 Billion by 2027, exhibiting a CAGR of 10.05% during 2022-2027.
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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
Keyedn Solutions LLC
Microsoft Corporation
Oracle Corporation
Planisware
Planview Inc.
SAP SE
Workfront Inc.
The report has segmented the market on the basis of component, solution type, deployment type, organization size, vertical and geography
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
Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Application Delivery Controller Market Report: https://www.imarcgroup.com/application-delivery-controller-market
Contact US
IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800 Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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