Project Portfolio Management (PPM) market to exhibit 6.5% CAGR by 2027; Adopting Agile Business Practices Around the World for Stock Demand: Fortune Business Insights™

Companies in the global project portfolio management (PPM) market are Planview, Inc. (Texas, United States), Integrated Project Management Company, Inc. (Illinois, United States), Changepoint Corporation (Washington, United States), Wrike, Inc. (California). , USA), Hexagon AB (Sweden), Logic Software Inc. (Toronto, Canada), ProductDossier Solutions (India) Pvt. Ltd (Maharashtra, India), ServiceNow, Inc. (California, United States), UMT 360 LLC (Washington, United States) and others

PUNE, India, October 12, 2021 (Globe Newswire) — GLOBAL Project Portfolio Management (PPM) Market expected to reach USD 5.74 billion by 2027 a. while demonstrating CAGR of 6.5% between 2020 and 2027. This is due to the adoption of agile practices in businesses and the increasing incorporation of advanced technologies like artificial intelligence (AI). Fortune Business Insights published this information in its latest report, titled, “Project Portfolio Management (PPM) Market Size, Share and COVID-19 Impact Analysis, By Component (Software & Services), By Deployment”. (on-premises, cloud-based, and hosted), by enterprise size (large enterprises and small and medium enterprises (SMEs)), by application (project management, portfolio management, demand management, resource management, financial management, and others), by vertical (BFSI, IT & Telecom, government, engineering & construction, healthcare, and others), and sectoral forecast, 2020-2027. The report noted that the market was worth US$ 3.49 billion in 2019 .

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List of Profile Companies in the Global Market Project Portfolio Management (PPM):

• Planview, Inc. (Texas, United States of America)

• Integrated Project Management Company, Inc. (Illinois, United States)

• Changepoint Corporation (Washington, United States)

• Wrike, Inc. (California, United States)

• Hexagon AB (Sweden)

• Logic Software Inc. (Toronto, Canada)

• Product Dossier Solution (India) Pvt. Ltd. (Maharashtra, India)

• ServiceNow, Inc. (California, United States)

• UMT 360 LLC (Washington, United States)

• Microsoft Corporation (Washington, United States)

• Micro Focus International Plc (Newbury, United Kingdom)

• SAP SE (Waldorf, Germany)

• ProjectManager.com, Inc. (Texas, United States)

• MavenLink, Congress (Irvine, United States)

• ProjectObjects srl (Monza (MB); Italy)

• Triscale Software LLC (Florida, United States)

• Planisware SAS (California, United States)

• Oracle Corporation (California, United States)

Report Scope and Segmentation

story continues

Increasing adoption for remote working amid COVID-19 amid rising demand

The global pandemic has given rise to a growing demand for remote working across the globe. The concept of work from home has gained importance due to the closure of offices and major companies. Companies are ready for the new normal and strategically plan to improve their productivity by remote working of their workforce. For example, in April 2020, Tata Consultancy Services (TCS) announced a permanent work-from-home provision for 75% of its employees. This is expected to lead to adoption of advanced Project Portfolio Management (PPM) solutions.

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Project Portfolio Management (PPM) is a type of software solution that enables businesses to organize multiple projects in a single portfolio. It provides accurate reports based on multiple parameters such as project cost, resources, objectives and risks. The adoption of PPM solutions significantly reduces operating costs and requires minimal IT infrastructure.

What is included in the report?

The market report includes quantitative and qualitative analysis of several factors such as key drivers and restrictions that will affect the growth. Additionally, the report provides insight into the sectoral analysis covering various sectors, which are contributing to the growth of the market. This includes the competitive landscape in which leading companies are involved and strategies adopted by them to introduce new products, announce partnerships and collaborate that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methods such as PESTEL and SWOT analysis to extract information about the current trends and developments of the industry which will drive the market growth in the coming years.

driving factor

Increasing the adoption of artificial intelligence in business processes to aid growth

The adoption of artificial intelligence by companies is increasing the demand for automation in project management processes. This is enabling businesses to speed up their delivery process and reduce operating costs significantly. Additionally, companies are developing advanced Project Portfolio Management (PPM) software enabled by AI technology. For example, in 2019, Planisware SAS announced the launch of an AI-enabled PPM solution to provide effective project management services. Adoption of agile business practices is expected to favor the adoption of PPM solutions, which bodes well for the growth of the global PPM market in the coming years.

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the division

BFSI segment held 24.8% market share in 2019

The BFSI segment, based on vertical, holds a market share of around 24.8% in 2019 and is anticipated to gain momentum during the forecast period. This is attributed to factors such as increasing complexities in banking operations leading to the adoption of advanced project handling and resource management solutions across the globe.

regional insight

North America to remain dominant; Presence of established players to drive demand

Among all regions, North America is expected to hold the top position in the global project portfolio management (PPM) market in the coming years. It is owned by Planview, Inc., Changepoint Corporation, and Wrike, Inc. This is due to the presence of established players such as, which is likely to fuel the demand for advanced Project Portfolio Management (PPM) software in this sector. The sector stood at USD 1.55 billion in 2019.

The market in Europe is expected to experience substantial growth due to increased adoption of portable devices and cloud-based services among enterprises in the region between 2020 and 2027.

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competitive landscape

Major players focus on developing advanced PPM solutions to brighten their market prospects

The global PPM market is consolidated by the presence of major players who are focusing on developing their existing Project Portfolio Management (PPM) solutions by developing advanced PPM solutions. They are further adopting advanced technologies like artificial intelligence (AI) to automate their management process which will contribute to the growth of the market during the forecast period.

industry development

• October 2020 – ABUS AUGUST BREMICKER SÖHNE KG, a German-based company, has acquired Wrike, Inc. Announced the implementation of the Advanced Project Portfolio Management (PPM) solution developed by. This solution is expected to simplify and secure its project management process.

Major Table of Contents:

• Introduction

• key takeaways

• market dynamics

  • Macro and Microeconomic Indicators

  • Drivers, restrictions, opportunities and trends

  • impact of COVID-19

    • short term effect

    • long term effects

• Competition Scenario

  • Business Strategies Adopted by Key Players

  • Consolidated SWOT Analysis of Key Players

  • pastel analysis

  • Porter’s Five Forces Analysis

  • ecosystem analysis

  • Global Market Share Analysis and Metrics, 2019

• Key market insights and strategic recommendations

• Profiled companies (Provided for 10 players only)

  • Observation

    • key management

    • Headquarters etc.

  • Offer/Business Segment

  • key details (Key details are subject to data availability in the public domain and/or on paid databases)

    • employee size

    • major financial

      • past and present revenue

      • total profit

      • geographical area

      • business segment share

  • recent developments

• primary interview responses

TOC continues…!

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