Project Portfolio Management (PPM) Market Substantial Rise during 2017 – 2025

Global Project Portfolio Management (PPM) Market: Overview 

The increasing use of cloud-based technologies and the rising need to optimize the cost of products and processes are estimated to contribute significantly towards the development of the project portfolio management market in the next few years. According to the research study, the market is likely to exhibit a strong growth rate over the next few years.

Global Project Portfolio Management (PPM) Market: Key Trends

The leading players in the global project portfolio management are making remarkable efforts to create an awareness regarding the benefits of project portfolio management, which is expected to enhance the market’s growth in the near future. In addition to this, the growing focus on the development of new products and innovations is likely to stimulate the development of the global market over the next few years. The rising need of consumers to offer effective and integrated services is another essential factor, boosting the demand for project portfolio management solutions across the globe.

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Global Project Portfolio Management (PPM) Market: Market Potential

A substantial rise in the popularity and use of cloud-based software across diverse industrial verticals across the globe is considered as one of the vital factors expected to encourage the growth of the global market in the forecast period. In addition to this, the rising trend of bring your own device (BYOD) among a large number of enterprises is predicted to accelerate the growth of the project portfolio management market across the globe. On the other hand, the increasing number of security threats while using the cloud-based platforms is likely to restrict the growth of the global market in the coming few years.

Global Project Portfolio Management (PPM) Market: Regional Outlook

Among the major regional segments, the market for Asia Pacific is anticipated to experience a promising growth over the forecast period. As per the research report, this region is expected to offer lucrative opportunities for the market players as well as exhibit a healthy growth rate in the coming years. The high growth of this region can be attributed to the tremendously rising adoption of wireless devices, including laptops, mobile phone, and tablets.

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Furthermore, the increasing complexity in the business functions owing to the outsourcing activities and multiregional operations are projected to encourage the growth of the project portfolio management market in Asia Pacific. In addition, the rise in the number of small and medium enterprises is estimated to boost the demand for effective and new project portfolio management solutions in the near future. The developed economies in the global market are estimated to experience a steady growth in the coming years.

Global Project Portfolio Management (PPM) Market: Competitive Analysis

The global market for project portfolio management is currently witnessing a high level of competition among the key players that are operating across the globe. The leading players in the market are focusing on the expansion of the product portfolio, which will help them in reaching out to a large number of consumers worldwide. This is likely to boost the demand for project portfolio management products, thus encouraging the overall development of the market.

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In addition to this, the key players in the market are likely to emphasize on creating an awareness among consumers regarding the advantages of adopting the project portfolio management in order to cut down on manufacturing and project costs. The estimated entry of new players will enhance the competition in the near future. Some of the leading players operating in the project portfolio management market across the globe are Workfront, Inc., Oracle, Microsoft, L.P., Celoxis Technologies Pvt. Ltd., HP Development Company, CA, Inc., Planview, Inc., Innotas, Changepoint Corporation, and Planisware.

Rising Trend of BYOD to Support Demand to Fuel Demand for PPM Solutions

San Francisco, California, March 13, 2018: A new research study by TMR Research presents an exhaustive assessment of the global market for project portfolio management (PPM). The report, titled “Project Portfolio Management (PPM) Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 – 2025,” evaluates the prominent trends, growth drivers, hindrances, market potentials, opportunities, and the challenges to find out the future prospects and performance of this market.

According to the research study, the significant rise in the popularity and the consequent usage of cloud-based software across various industrial verticals, globally, is boosting the global market for project portfolio management substantially. In addition to this, the increasing trend of bring your own device (BYOD) among a number of organizations is likely to continue influencing this market over the next few years, reports the market study.

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Among the regional markets for project portfolio management, Asia Pacific is expected to emerge as the market leader, offering lucrative growth opportunities to market players in the years to come. The increasing uptake of wireless devices, mobile phone, such as laptops, and tablets, is the main factor that is propelling the market for project portfolio management in Asia Pacific. Apart from this, the rising complexity in the business functions due to the increase in outsourcing activities and multi-regional operations, are also expected to support the growth of this regional market in the years to come, states the research report.

The competitive landscape of the global market for project portfolio management has also been analyzed in this research report. Workfront Inc., Microsoft L.P., Oracle, Celoxis Technologies Pvt. Ltd., HP Development Co. Inc., Innotas, Planview Inc., Changepoint Corp., and Planisware are some of the key players in this market, mentioned in this research study.