The global project portfolio management market size reached USD 4.48 Billion in 2020 and is expected to register a CAGR of 12.6% during the forecast period, according to latest analysis by Emergen Research. Global project portfolio management market revenue growth is expected to be driven by rising demand for improved project selection process, and increasing focus on objective business goals.
The report studies the factors influencing the growth of the industry in the global market and offers accurate predictions about the growth pattern. The report pays special attention to the key elements of the market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies.
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Some Key Highlights from the Report
The services segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing adoption of project portfolio management solutions among SMEs, leading to increasing demand for project portfolio management services, and such services enabling project scoping, making plans, and adjusting administration procedures which improve the efficiency of SMEs' business activities, is expected to boost revenue growth of this segment going ahead.
The large enterprise segment is expected to lead in terms of revenue over the forecast period due to increasing implementation of project portfolio management solutions among large enterprises since large enterprises are spending actively in order to compete in today's modern competitive market.
The on-premise segment is expected to lead in terms of revenue over the forecast period due to rising implementation on-premise based project portfolio management solution across various industries.
The BFSI segment is expected to lead in terms of revenue over the forecast period due to increasing adoption of project portfolio management solutions in BFSI due to technological advancements in this sector.
Factors such as robust presence of project portfolio management solutions and services providers such as Microsoft Corporation, and Oracle Corporation among others in countries in North America is expected to drive growth of the market in the region during the forecast period.
Key players in the market include Oracle Corporation, Microsoft Corporation, Planview, Inc., Broadcom Corporation, Planisware SAS, Workfront, Inc., Changepoint Corporation, Celoxis Technologies Pvt. Ltd., ServiceNow, Inc., and SAP SE
In March 2020, Broadcom Corporation launched ValueOps, which is a digital and agile management solution, by combining its PPM solutions, Clarity PPM and Broadcom Rally. Users can use the advanced solution to align their strategic plans with their IT objectives, allowing them to optimize their business activities.
The latest report is the most recent study that offers 360° coverage of the Project Portfolio Management industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Project Portfolio Management market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
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Emergen Research has segmented the global project portfolio management market on the basis of component, organization size, deployment, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
- Services
- Solution
Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- SMEs
- Large Enterprises
Deployment Outlook (Revenue, USD Billion; 2018–2028)
- On-Premise
- Cloud
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Manufacturing
- Healthcare
- BFSI
- Media and Entertainment
- IT Telecom
- Retail Consumer Goods
- Transportation and Logistics
- Energy and Utilities
- Government
- Others
Regional Overview:
The global Project Portfolio Management market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. It evaluates the presence of the global Project Portfolio Management market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Key questions addressed in the report:
What are the key factors driving the global Project Portfolio Management market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Project Portfolio Management market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
Elucidating the competitive landscape of the Global Project Portfolio Management Market:
- The global Project Portfolio Management market report offers viable insights into the competitive spectrum of the Project Portfolio Management business sphere.
- The report systematically profiles the company information of each market player.
- It identifies the estimated industry share, production facilities, development prospects, and geographies served by each market player.
- The study showcases the extensive product portfolios of the prominent market contenders.
- It offers critical data information about the product application scope and the end-user landscape.
- The study provides salient information about the pricing models of the products offered by these companies. Moreover, it determines the gross profits and losses experienced by them throughout their market tenures.
Read More: https://www.emergenresearch.com/industry-report/project-portfolio-management-market
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