The
global project portfolio management market is estimated to attain USD 8.85
billion by 2025, according to a new report by Grand View Research, Inc. The
growing trend of BYOD, among businesses, is expected to improve employee
productivity and real-time project monitoring; thereby, making it feasible to
implement project and portfolio management solutions.
Multi-regional
businesses are fueling the demand for project and portfolio management
solutions to foster effective decision-making and prevent project complexities.
The extensive use of project and portfolio management solutions in data
analytics, to offer convenient services to customers at low costs, in the BFSI
and IT & telecom sectors is anticipated to drive the market growth.
Emerging
businesses that adopt cloud-based services, mainly in developing economies such
as Asia Pacific, are expected to fuel the growth of project and portfolio
management market over the forecast period. Further, 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.
In depth research report on Project Portfolio
Management (PPM) Market
Further key findings from the study suggest:
·
Increasing complexity in
banking operations, due to increased multi-regional operations and outsourcing
activities, is anticipated to elevate the demand for PPM solutions in the BFSI
application segment
·
The BFSI segment dominated the
application segment of the project and portfolio market in 2015 and is presumed
to grow at a CAGR of 12% over the forecast period
·
The new product development
segment is estimated to be the fastest-growing solution segment in 2015 and is
expected to witness a CAGR of 15% over the forecast period
·
Technological advancements in
cloud and mobile technologies are anticipated to enable increased investment in
the new product development segment for creating applications that can be used
on-the-go
·
The services segment is further
segregated into support & consulting services, integration &
deployment, and training & education
·
The deployment of cloud-based
solutions stimulates easy service delivery, owing to their virtual presence
that aids organizations in accessing data, anytime, across connected devices
·
The Asia Pacific region is
expected to contribute, significantly, to the industry growth, due to the
emerging Small and Medium Enterprises (SMEs) and increasing adoption of BYOD.
The regional market is predicted to grow at a CAGR of 14% over the next nine
years.
·
The key industry participants
include CA, Inc., Celoxis Technologies Pvt. Ltd., Changepoint Corporation, HP
Development Company, L.P., Innotas, Planview Corporation, Planisware,
Microsoft, Oracle, and Workfront, Inc., among others
Grand
View Research has segmented the global project portfolio market based on
solution, platform, deployment, enterprise size, application, and region:
Project Portfolio Management Solution Scope
(Revenue, USD Million; 2014 - 2025)
·
Information Technology
·
New Product Development
·
Others
Project Portfolio Management Platform Scope
(Revenue, USD Million; 2014 - 2025)
·
Software
·
Services
·
Integration and Deployment
·
Support and Consulting
·
Training and Education
Project Portfolio Management Deployment Scope
(Revenue, USD Million; 2014 - 2025)
·
Cloud
·
On-premise
Project Portfolio Management Enterprise Size Scope
(Revenue, USD Million; 2014 - 2025)
·
Small and Medium Enterprises
·
Large Enterprises
Project Portfolio Management Application Scope
(Revenue, USD Million; 2014 - 2025)
·
BFSI
·
Government
·
Engineering & Construction
·
Healthcare
·
IT & Telecom
·
Others
Project Portfolio Management Regional Scope
(Revenue, USD Million; 2014 - 2025)
·
North America
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
Asia Pacific
·
China
·
India
·
Japan
·
South America
·
Brazil
·
Middle East and Africa
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About Grand View Research
Grand
View Research, Inc. is a 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. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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