Project Portfolio Management (PPM) Market

Project Portfolio Management Market was valued at USD 3,956 Million in 2019 and predicted to grow at a CAGR of 5.8% during the forecast period.

Introduction of the Project Portfolio Management (PPM) Market Report

Project portfolio management (PPM) refers to the centralized management of one or more projects of an organization under one umbrella, called a portfolio, in order to achieve strategic objectives, select the right projects, and maximize the impact of each project. PPM includes identification and authorization of potential projects, assigning project managers to them, and including these projects into the overall portfolio for a high level control and monitoring.

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Market Dynamic

Key Drivers and Emerging Trends

Growing industrialization, rising trend of digitization and automation across industries, increasing demand for 360-degree view into project operations and resource management to attain high return on investment (ROI) are some of the major factors stimulating the growth of the project portfolio management market share over the forecast period. Additionally, growing complexities in handling numerous projects, scrutinizing large amount of data, hardship in managing the work space efficiency, and the need for optimizing financial resources and time is further expected to drive the growth of the PPM market size.

Moreover, the PPM helps in planning, performing, managing, monitoring, and analysing current and projected projects; predicting potential problems and reviewing progress toward operational goals; and managing budgets and addressing stakeholders’ concerns owing to which it is extensively used across several industries, including banking, financial services and insurance (BFSI), energy, telecommunication, defence, and manufacturing. Furthermore, the growing adoption of cloud-based services for the remote monitoring of assignments, increasing trend of bring your own device (BYOD) service, and implementation of AI for automation in project management is expected to provide growth opportunities to the PPM market share over the forecast period.

Restraint in the Project Portfolio Management Market

However, high investment and complexity of the PPM software is expected to restraint the growth of the project portfolio management market over the forecast period. In addition, lack of awareness regarding the advantages of PPM and lack of skilled expertise may further hinder the project portfolio management software market growth.

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Component – Segment Analysis

Based on component, the service segment is expected to grow substantially over the forecast period owing to the increasing demand for customization of portfolio programmes, programme mobilization, program recovery, and the need for support and maintenance services across the organizations.

Deployment Size – Segment Analysis

Based on deployment size, the cloud PPM segment is anticipated to grow at a prominent CAGR during the forecast period. This can be attributed to its various advantages that includes easy upgradation, easy accessibility, the sharing of infrastructure among multiple users and offices remotely, high level of scalability, and reduced cost of implementation and development of cloud PPM solution. Growing adoption of cloud computing environment across industries including manufacturing, BFSI, healthcare, and telecommunication is further supporting the market growth.

Organization Size – Segment Analysis

Based on the organization size, the small and medium enterprise segment is projected to grow significantly in the coming years primarily due to the growing number of SMEs and according to the World Bank Group, small and medium enterprises represent about 90% of businesses worldwide and it is estimated to provide 600 million jobs by 2030. Additionally, growing penetration of connected devices, software as a service (SaaS), and integration cloud computing services in small and medium-sized organizations is contributing to the market growth.

Industry Vertical – Segment Analysis

Based on the industry vertical, the healthcare and life sciences segment is anticipated to witness high CAGR over the forecast period. This is primarily due to the rising development of hospitals globally and increasing digitization, deployment of IoT, and artificial intelligence into the healthcare infrastructure. The healthcare PPM solution help in improving patient care and healthcare quality, minimizing waiting time, accelerating Electronic Medical Records (EMR) automation, tracking and reporting of project progress and costs, and delivering better visibility across project activities, portfolios, resources and documents by minimizing communication gaps. Organization such as HealthBPM, Cora Systems, Genius Project, and BrightWork offer PPM software and services to the healthcare sector, which is expected to drive the market growth.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a significant share in the PPM market owing to the presence of large number of industries including manufacturing, telecommunication, banking, and retail, and increasing investment in the development of healthcare sector. Moreover, presence of large number of companies including is further supporting the market growth in the region.

Top Market Players

Several Leading players operating in the market, include, Oracle Corporation, Microsoft Corporation, Planview, Inc., Broadcom, Inc., SAP SE, Hexagon AB, Workfront, Inc., Planisware, Bubble Ltd., and ServiceNow, Inc. among others. 

Key Developments:

• • In 2019, Planisware launched an AI-enabled PPM solution, with a range of smart features into Planisware Enterprise including statistical learning from historical data for more accurate cost, quality and schedule forecasts; SmartBot emulating human interactions; and Smart Risk Detection.
  • In 2020, Bubble Ltd., one of the leading providers of cloud-based Project Portfolio Management Software, announced that it been accepted as a G-Cloud 12 (G12) supplier by the UK Government’s Crown Commercial Service (CCS) Digital Marketplace for Project Portfolio Management (PPM) services to the public sector.

Segments covered in the Report:

The global Project Portfolio Management Market has been segmented on the basis of component, deployment mode, organization size, industry vertical, and key regions. Based on component, the market is segmented into solution and services. Based on deployment mode, the market is segmented into on-premise and cloud. Based on organization size, the market is segmented into SMEs and large enterprises. Based on industry vertical, the market is segmented into BFSI, IT and telecom, consumer goods and retail, healthcare and life sciences, manufacturing, government and defence, energy and utilities, and others. 

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Key questions answered in this research report:

• • At what pace is global Project Portfolio Management Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Project Portfolio Management Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Project Portfolio Management Market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various industry verticals of global Project Portfolio Management Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Project Portfolio Management Market by Component

• • Solution
  • Services

Global Project Portfolio Management Market by Deployment Mode

• • On-Premise
  • Cloud

Global Project Portfolio Management Market by Organization Size

• • SMEs
  • Large Enterprises

Global Project Portfolio Management Market by Industry Vertical

• • BFSI
  • IT and Telecom
  • Consumer Goods and Retail
  • Healthcare and Life Sciences
  • Manufacturing
  • Government and Defence
  • Energy and Utilities
  • Other

Global Project Portfolio Management Market by Region

• • North America Project Portfolio Management Market (Option 1: As a part of the free 25% customization)
    • North America Market by Component
    • North America Market by Deployment Mode
    • North America Market by Organization Size
    • North America Market by Industry Vertical
    • US Market All-Up
    • Canada PPM Market All-Up
  • Europe Project Portfolio Management Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Component
    • Europe Market by Deployment Mode
    • Europe Market by Organization Size
    • Europe Market by Industry Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe PPM Market All-Up
  • Asia-Pacific Project Portfolio Management Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Component
    • Asia-Pacific Market by Deployment Mode
    • Asia-Pacific Market by Organization Size
    • Asia-Pacific Market by Industry Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC PPM Market All-Up
  • RoW Project Portfolio Management Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Component
    • RoW Market by Deployment Mode
    • RoW Market by Organization Size
    • RoW Market by Industry Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) PPM Market All-Up

Major Players Operating in the Project Portfolio Management Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Oracle Corporation
  • Microsoft Corporation
  • Planview, Inc.
  • Broadcom, Inc.
  • SAP SE
  • Hexagon AB
  • Workfront, inc.
  • Planisware
  • Bubble Ltd.
  • ServiceNow, Inc.