Global Project Portfolio Management Market By Platform (Software and Services) By Solutions (Information Technology, New Product Development and Others) By Deployment Type (On-premise and Cloud) By Organization Size (Large Enterprises and Small & Medium Enterprises) By Region, Industry Analysis and Forecast, 2019 - 2025
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The Global Project Portfolio Management Market size is expected to reach $8.7 billion by 2025, rising at a market growth of 16.3% CAGR during the forecast period. Project portfolio management (PPM) is a method used by project managers and project management organizations (PMOs) to assess a project's potential return. Project portfolio managers provide prediction and business analysis to companies looking to invest in new projects by arranging and consolidating any piece of data on planned and existing projects. Project portfolio management provides organizations with a bird's eye view of future, existing and past ventures. Through seeing the big picture of how a proposed project can fit into the organization's goals and objectives, companies will make better choices about which projects to choose from and which programs will produce the most return.
Global Project Portfolio Management Market Size
Rapid growth in automation and digitization has induced the need for monitoring and analytical solutions to improve productivity across different industries. Therefore, the proper use of resource, cost management, time tracking, data analytics etc. are specific facilities offered by software and services for project portfolio management. Growing acceptance of cloud computing services in small and medium-sized enterprises (SMSE) and growing penetration of connected devices in emerging economies is further expected to fuel global market demand for project portfolio management. An increased rate in investments in research and development by key market players has progressed towards innovative solutions like portfolio management solutions based on mobile applications, thereby allowing this segment to grow in the future.
Global Project Portfolio Management Market Share
Based on Platform, the market is segmented into Software and Services. The increasing trend of project and portfolio management solutions across SMEs has positively affected the need for support and consulting services. Such services promote scoping, planning, and changing management practices that make business operations more effective in SMEs. In addition, the growing trend of cloud-based operation services adopting organizations has encouraged growth in support and consulting services. Such programs also encourage personalized approaches to be implemented. Based on Solutions, the market is segmented into Information Technology, New Product Development and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, IT & Telecom, Government, Engineering & Construction and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Project Portfolio Management Market to reach a market size of $8.7 billion by 2025
Project Portfolio Management Market Cardinal Matrix
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Broadcom, Inc. and Microsoft Corporation are some of the forerunners in the Project Portfolio Management Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hewlett Packard Enterprise Company (HP Development Company L.P.), SAP SE, Microsoft Corporation, Oracle Corporation, Hexagon AB, Broadcom, Inc., ServiceNow, Inc., Workfront, Inc., Planview, Inc., and Changepoint Corporation.
Recent Strategies Deployed in Project Portfolio Management Market
» Partnerships, Collaborations and Agreements:
- Oct-2019: SAP came into partnership with Infosys in which Infosys initiated a new program, Innov8 for accelerating enterprise digital transformation journeys with the use of SAP digital solutions. Together, they help the companies in digital transformation based on SAP S/4 HANA for building intelligent enterprises.
- Aug-2019: Planview came into partnership with Tasktop, a value stream management provider. The partnership is aimed at expanding the Planview Agile Scaler offerings for enabling the customers to realize the enterprise scale Lean portfolio management.
- Jul-2019: Hexagon PPM announced partnership with AspenTech, process simulation software provider. This partnership is aimed at helping the manufacturers in process industries for managing the financial risks of big and complex projects in a better way.
- 2019-Jun: Microsoft collaborated with Upland Software, a provider of cloud-based enterprise work management software. In this collaboration, Microsoft teams have been integrated with Upland's PowerSteering, its flagship PPM solution. Through this integration, project team members can collaborate, share documents, communicate, and schedule meetings directly from within their PPM solution with the help of collaboration platform.
- May-2019: SAP in collaboration with Mindtree, a global technology services and digital transformation company, launched QuikDeploy, an IP-driven approach that helps the customers in maximizing their use of SAP Solution Manager.
- May-2019: ServiceNow signed an agreement with Deloitte in order to accelerate organizations' enterprise digital transformation. Together, the companies develops, coordinates, and brings assets and solutions, new products built on New Platform for helping clients in delivering seamless digital experiences across the enterprises, improving workflows and enhances productivity.
- May-2019: Workfront partnered with Adobe for providing the marketing organizations with modern work management backbone. Workfront's application platform would be implemented in Adobe through which enterprise marketing organizations can manage the campaign process.
- Nov-2018: Aruba, a HPE company, and Siemens signed partnership agreement for bridging the information technology and operational technology worlds. Through the partnership, both the companies' helps in ensuring that the IT/OT systems can be installed rapidly with ease, supported more efficiently, and operated more securely.
- Nov-2018: Hexagon PPM collaborated with SupplHi, vendor management platform. The collaboration allows Smart material clients to work with fully populated standard categorization, which has been developed by SupplHi.
» Acquisition and Mergers:
- Oct-2019: Oracle signed an agreement to acquire CrowdTwist, customer loyalty platform. The acquisition helps Oracle in building its own customer experience cloud and CrowdTwist's technology would be integrated with Oracle’s Responsys, Eloqua and CX Unity platforms.
- Aug-2019: HPE acquired MapR, a business software company. The acquisition bolsters the existing big data offerings of HPE; the MapR's portfolio has been used by a number of companies in order to store and process the large amount of data.
- Jan-2019: SAP completed the acquisition of Qualtrics International, Inc., a pioneer of experience management software. The acquisition offers the businesses the means for delivering exceptional customer, employee product, and brand experience.
- Jan-2019: Hexagon acquired J5 International, the operational risk management software vendor. The acquisition enhances the capabilities of Hexagon in operational risk management.
- Nov-2018: Broadcom announced the acquisition of CA Technologies. The acquisition bolsters Broadcom's position in semiconductors and infrastructure software solutions. CA's Enterprise Software solutions link everything from mobile to mainframe, providing AI-driven systems to deliver businesses with quality, compliance, and security.
- Oct-2018: Hexagon announced the acquisition of Bricys, a developer of CAD software. The acquisition helps Hexagon in extending its domain expertise in building design, adding floors, doors, walls, and other construction related features.
- Jan-2018: Oracle took over Aconex that designs software for project collaboration. Under the acquisition, Aconex works with Oracle's existing cloud-based construction software, which enables management, project planning, and payments.
- Jan-2018: Hexagon acquired Plant Design Solutions, a distributor of software and services. The acquisition helps Hexagon in enhancing its future interactions with clients.
- Jan-2018: Planview took over LeanKit, provider of enterprise grade Kanban visual project management technology. The acquisition helps Planview customers' in adopting lean and agile practices for faster innovation and LeanKit customers' need for PPM for managing the full picture of the entire organization.
» Product Launches and Product Expansions:
- Dec-2019: HPE launched HPE GreenLake Central, an advanced software platform. The platform offers the customers with a consistent cloud experience for all their data and applications. The software has the powerful capabilities and benefits that allow each and every role in an organization to achieve the better outcomes.
- Nov-2019: SAP made enhancements in its SAP PPM Solution through launching new process in Enterprise Portfolio and Project Portfolio Management solution. The enhancement addresses the intercompany processes for enterprise projects. In this process, the ordering company has the ability to execute a project that order services from an employee who is assigned to other company.
Scope of the Project Portfolio Management Market Analysis
- Information Technology
- New Product Development
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By End User
- IT & Telecom
- Engineering & Construction
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Hewlett Packard Enterprise Company (HP Development Company L.P.)
- SAP SE
- Microsoft Corporation
- Oracle Corporation
- Hexagon AB
- Broadcom, Inc.
- ServiceNow, Inc.
- Workfront, Inc.
- Planview, Inc.
- Changepoint Corporation
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Project Portfolio Management Market Related Reports:
What would be the size of Project Portfolio Management market in 2025?
According to a new report published by KBV Research, The global Project Portfolio Management market size is expected to reach $8.7 billion by 2025.
What are the key factors drive Project Portfolio Management industry?
The major factors that are anticipated to drive the Project Portfolio Management industry include increase project delivery success and optimal allocation of funds.
Which region shows maximum potential growth in Project Portfolio Management market?
Asia Pacific region market would witness a highest CAGR of 17.8% during (2019-2025).