Application Portfolio Management Market will reach at USD 23.56 billion by 2032, by Keyplayers and Vendors:Planview, ServiceNow, LeanIX, Orbus Software, CAST Highlight, ASG, CA Technologies, Astadia, GDS Link, Capgemini, Cloudbyz, BCX, Melillo Consulting,

The global Project Portfolio Management Market size is estimated to grow from USD 5.89 billion in 2022 to USD 23.56 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.

Project Portfolio Management helps in aligning project goals with business strategy, informing decision making, improving project selection process, minimizing risk, maximizing business impact, optimizing resource utilization across the enterprise, delivering project within time and budget, increasing ROI, boosting productivity with enhanced team collaboration, creating assets and sharing best practices.

In addition, the Global Application Portfolio Management market study also covers several factors such as market status, key market trends, growth forecast, and growth opportunities. Furthermore, we analyze the challenges faced by the Global Application Portfolio Management market in terms of global and regional basis.

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Key Players Mentioned in the Global Application Portfolio Management Market Research Report: Planview, ServiceNow, LeanIX, Orbus Software, CAST Highlight, ASG, CA Technologies, Astadia, GDS Link, Capgemini, Cloudbyz, BCX, Melillo Consulting, AaronRichards

Global Application Portfolio Management Market Segmentation:

Application Portfolio Management Market Types:

Service, Software.

Application Portfolio Management Market Applications:

Large Enterprises, Small and Medium-sized Enterprises (SMEs)

Regional overview

North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa are the provincial order of the worldwide Application Portfolio Management market.

CThe project portfolio management software assists businesses to improve productivity, increase the pace of innovation, and adapt to the rapidly shifting economic scenario and competitive dynamics. Additionally, the PPM software offers capabilities such as time tracking, data analytics, and cost management. Increasing penetration of connected devices in emerging economies such as Brazil, China, and India is expected to keep the industry's growth prospects upbeat. Increasing investments in research and development activities have encouraged the development of innovative solutions such as mobile application-based project portfolio management solutions, enabling access to an extensive consumer base. All these factors are propelling the growth of the PPM market.

Project portfolio management is a useful solution as it improves the organization's adaptability toward change and makes it easy to introduce new projects. Additionally, review and monitoring techniques are introduced to track projects for anomalies and delays and invoke necessary steps to streamline them and subsequently achieve higher returns. Furthermore, with the help of PPM solutions, the companies can emphasize more on achieving targets by focusing on strategies instead of the project operations itself. Additionally, it provides techniques such as scoring techniques, heuristic model, visual, or mapping techniques for assessment of different projects..

The objective of the studies:

- To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the global Application Portfolio Management Market.

-Provide information on factors affecting the growth of the market. To analyze the Application Portfolio Management Market based on various factors- price analysis, supply chain analysis, Gate Five force analysis, etc.

-Provide historical and forecast revenue of market segments and sub-segments for four major geographies and their countries - North America, Europe, Asia, Latin America and Rest of the World.

-Provide country level market analysis relative to current market size and future prospects.

- To provide country level market analysis for the segment by application, product type and sub-segments.

Offering Insights
The service segment comprises integration and deployment, support and maintenance, and training and consulting services. The service segment is anticipated to witness rapid growth over the forecast period. The surging demand can be attributed to the innovative services offered by the market players such as process assessment, process improvement, and reporting and analysis. Developments in project portfolio management services such as on-the-job communication facility, assignment governing policies, and program facilitation services help organizations in comparing macro-environmental factors that lead to increased productivity and ROI.

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Deployment Insights
The on-premise segment dominated the project portfolio management market in 2019 as it has been a classical approach that has existed since the beginning of the computer age. On-premise solution offers total control over the software as all sensitive data is stored internally and there is no risk of exposing it to a third-party. On-premise deployment further enables more options for customizations. However, the companies are increasingly shifting toward the usage of cloud-based solutions as on-premise solutions have higher operational costs. The other factor is the high maintenance requirements as it becomes the organization's responsibility to upgrade and scale the solution when required.

Enterprise Size Insights
The small and medium enterprise segment is expected to expand at the highest CAGR over the forecast period. The growth in foreign investments toward SMEs is expected to drive the growth of the segment. The growing SMEs in emerging economies and increasing penetration of information technology services is further contributing to the segment growth. These solutions offer effective monitoring and control of business functions and help in business optimization and decision making for SMEs.

End-Use Insights
Project portfolio management solutions facilitate the BFSI industry in managing customer transaction data due to its complex multi-regional operation. Technological proliferation in the BFSI industry, such as mobile banking and e-banking, have encouraged the implementation of project portfolio management solutions. Furthermore, the usage of other services by banks such as debit, credit, and centralized fund managing system has led to the usage of these solutions for database monitoring. These solutions facilitate in monitoring transactional data, customer information, and subsequently help in providing high transparency.

Regional Insights
North America dominated the project portfolio management market, with the largest revenue share of 43.5% in 2020. The region is expected to continue its dominance over the projected timeline owing to the considerable infrastructure advancements and propagation of startup companies. Different industrial companies operating in the region are implementing business intelligence & analytics solutions, and analytics-based strategies are playing a vital role in driving the market growth. Moreover, companies with digital infrastructure are using PPM solutions to initiate collaborative decision making to enhance their project success rate in the region.

In the U.S., various end-use sectors such as healthcare, manufacturing, BFSI, and construction are adopting project portfolio magnet services to efficiently manage the overall business operations and eliminate the extra costs. This has created a favorable environment for market expansion in the U.S. Industry players operating in the region are adopting business strategies such as mergers & acquisitions to enhance their service offerings and client base. For instance, in December 2021, Tempo Software acquired ALM Works for an undisclosed amount to assist its clients in making better decisions for their projects in Massachusetts.

Table of Contents:

1 Study Coverage

2 Market by Type

3 Market by Application

4 Global Application Portfolio Management Competitor Landscape by Company

5 Global Application Portfolio Management Market Size by Region

6 Segment in Region Level & Country Level

7 Company Profiles

8 Industry Chain and Sales Channels Analysis

9 Research Findings and Conclusion

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