Project Portfolio Management Market Size Is Expected To Reach USD 12.25 Billion By 2030


 San Francisco, 14 June 2024: The Report  Project Portfolio Management Market Size, Share & Trends Analysis Report By Solution, By Platform (Software, Service), By Deployment, By Enterprise Size, By Application, By Region, And Segment Forecasts, 2023 - 2030

The global project portfolio management market size is anticipated to reach USD 12.25 billion by 2030, registering a CAGR of 13.0% from 2023 to 2030, according to a new report by Grand View Research, Inc.  Growing trend of bring your own device (BYOD) among businesses is expected to improve employee productivity and real-time project monitoring, thereby, making it feasible to implement project portfolio management (PPM) solutions. Multi-regional businesses are fueling the demand for project portfolio management solutions to foster effective decision-making and prevent complexities. Extensive use of PPM solutions in data analytics to offer convenient services to customers at low costs in the BFSI and IT and telecom sectors is anticipated to drive the market growth.

The global rise in urbanization and digitization has made businesses to switch toward using technology driven solutions to meet the rapid pace of business growth. Emerging businesses that adopt cloud-based services, mainly in developing economies such as Asia Pacific, are expected to fuel the PPM market growth over the forecast period. Furthermore, facilities such as low setup costs, improved security, and increased collaboration opportunities, provided by the cloud-based solutions are expected to increase business productivity and overall growth of an organization.

Project-intensive organizations across different industry verticals have recognized the advantages of the PPM solution and have employed it to automate and simplify several operations and efficiently manage project lifespan. The PPM solution offers managers and organizations with the capability to see the big picture, confirming the use of best practices, principles, solutions, and standards during the project lifespan. For organizations handling multiple simultaneous projects, the PPM solution allows the right set of resources to complete them on defined budget and deadline. Thus, the benefits offered by PPM solutions are propelling the growth of this market.

Access Research Report of Project Portfolio Management Market @ https://www.grandviewresearch.com/industry-analysis/project-and-portfolio-management-software-market

Project Portfolio Management Market Report Highlights

  • The information technology segment accounted for the largest revenue share of 54.1% in 2022. It is attributed to the increasing demand for more sophisticated and user-friendly PPM software that can help businesses manage their IT projects more effectively.
  • The software segment accounted for the largest revenue share of 68.3% in 2022, owing to the increasing demand for more sophisticated and user-friendly PPM software that can help businesses manage their projects more effectively.
  • The cloud segment accounted for the largest revenue share of 52.5% in 2022 and is expected to grow at the fastest CAGR of 15.2% during the forecast period.
  • North America dominated the project portfolio management market, with the largest revenue share of 42.0% in 2022.

Project Portfolio Management Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 5.22 billion

Revenue forecast in 2030

USD 12.25 billion

Growth Rate

CAGR of 13.0% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

List of Key Players of Project Portfolio Management Market

  • Broadcom
  • Celoxis Technologies Pvt. Ltd.
  • Changepoint Corporation
  • HP Development Company, L.P.
  • ServiceNow
  • Planview, Inc.
  • Planisware
  • Microsoft
  • Oracle
  • Workfront, Inc.

Access Press Release of Project Portfolio Management Market @ https://www.grandviewresearch.com/press-release/global-project-portfolio-management-ppm-market

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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