The Business Research Company’s report on the Project Portfolio Management Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the project portfolio management market further?
The surge in activities such as automation and digitalization across various industries is expected to propel the growth of the project portfolio management market going forward. Automation is the method of controlling processes or systems by automatic means. Digitalization is the method of converting all physical data into electronic data. Companies across various industries are using automation as a tool to curb labor shortages and optimize business processes. Project portfolio management helps in managing a large amount of data related to various projects and managing them in a single system that is generated through increasing automation and digitization. For instance, in 2022, according to a survey by UiPath, a US-based enterprise automation software company, 78% of the responding company executives were likely to invest or increase their investment in enterprise automation and 83% said that their company was currently investing or using automation tools. Therefore, increasing automation and digitalization across various industries are driving the growth of the project portfolio management market.
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What are the key factors influencing the forecasted market size of the project portfolio management industry?
The project portfolio management market size has grown strongly in recent years. It will grow from $5.86 billion in 2024 to $6.26 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to demand for resource optimization, increasing project failures, globalization of businesses, budget constraints, strategic alignments, demand for mobile accessibility.
The project portfolio management market size is expected to see rapid growth in the next few years. It will grow to $9.66 billion in 2029 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to rise of hybrid work models, increasing stakeholder expectations, increasing cybersecurity concerns, evolving regulatory landscape, user experience enhancement, focus on portfolio visibility. Major trends in the forecast period include cloud-based ppm solutions, agile and hybrid project management, ai-driven predictive analytics, agile and hybrid project management, integration with collaboration platforms.
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Who are the leading competitors in the project portfolio management market?
Major companies operating in the project portfolio management market are Broadcom Inc., Celoxis Technologies Pvt. Ltd., Wrike Inc., HP Development Company L.P., ServiceNow Inc., Planview Inc., Planisware S.A.S., Microsoft Corporation, Oracle Corporation, Workfront Inc., SAP SE, Logic Software Inc, ProductDossier Solution, Sopheon Corporation., Cerri.com AG., Keyedin Inc., Atlassian Corporation PLC, Upland Software Inc., Clarizen Inc., Sciforma Corporation, Changepoint Corporation, Mavenlink Inc., Project Objects Solutions Limited, Innotas a Planview company, Genius Project, Deltek Inc., One2Team, ProSymmetry Inc., Project Insight Inc., Meisterplan Inc.
Which emerging trends are set to transform the project portfolio management market landscape?
Technological advancements are a key trend gaining popularity in the project portfolio management market. Major companies are innovating and integrating technologies such as artificial intelligence (AI) with project portfolio management software to sustain themselves in the market. For instance, in August 2024, monday.com, an Israel-based company focused on managing tasks and workflows, launched a new Portfolio Management Solution aimed at enterprise customers. This solution is designed to enhance team collaboration and productivity by providing portfolio managers and executives with a comprehensive overview of relevant projects through an intuitive interface. The goal is to streamline project management by eliminating the complexity of navigating through numerous detailed reports .
How do different geographies compare in terms of market share and growth potential in the project portfolio management market?
North America was the largest region in the project portfolio management market share in 2024. The regions covered in the project portfolio management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the project portfolio management market are experiencing the fastest growth?
The project portfolio management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: On Premises, Cloud
3) By Organization Size: Large Enterprises, SMEs
4) By Application: Project Management, Portfolio Management, Demand Management, Resource Management, Financial Management, Other Applications
5) By Vertical: Energy And Utilities, Government And Defense, IT And Telecom, Banking, Financial Services And Insurance, Manufacturing, Healthcare And Lifesciences, Consumer Goods And Retail, Other Verticals
Subsegments:
1) By Solution: Project Management Software, Portfolio Management Software, Resource Management Software, Reporting And Analytics Tools, Collaboration Tools
2) By Services: Consulting Services, Implementation Services, Training And Support Services, Managed Service
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What defines the structure and scope of the project portfolio management market?
Project portfolio management is the concept of managing all processes through a single system. It manages the monitoring and controlling options, making project management easier for organizations and increasing their efficiency.
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