Project Portfolio Management Market to Grow at 10.05% During 2022-2027 | IMARC Group

According to the latest report by IMARC Group, titled "Project Portfolio Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global project portfolio management market reached a value of US$ 5.2 Billion in 2021.

Project portfolio management (PPM) includes software solutions that are widely utilized across organizations to assist them managing and prioritizing tasks within dependent, interrelated and connected projects. They aid in improving productivity and gauging potential costs and returns on a particular project. They also provide consolidated data for business analytics and forecasting market trends while reviewing progress toward operational goals, predicting potential problems and managing budgets in an efficient manner. As a result, it is widely deployed across numerous industry verticals, such as defense, telecommunication, banking, financial services and insurance (BFSI) and manufacturing.

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Market Trends

The global market is majorly driven by rapid digitization across numerous industries. The increasing demand for automation across various workplaces and the rising integration of cloud computing services in organizations have led to the growing deployment of PPM across the globe. This is further supported by the widespread adoption of connected devices across small and medium-sized organizations. The market is also driven by the increasing demand for these solutions from the healthcare sector. Since PPM assists healthcare providers in managing numerous projects with the help of strategic portfolios for improved efficiency, this is providing an impetus to the market growth. Some of the other factors contributing to the market growth include growing product utilization in life sciences and extensive research and development (R&D) activities in the field of information technology (IT). On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 10.05% during 2022-2027.

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List of Key Companies Covered in this Market Report:

Broadcom Inc.
Celoxis Technologies Pvt. Ltd.
Changepoint Corporation
Clarizen, Inc.
HP Development Company
Innotas
Keyedn Solutions LLC
Microsoft Corporation
Oracle Corporation
Planisware
Planview Inc.
SAP SE
Workfront Inc.

The report has segmented the market on the basis of component, solution type, deployment type, organization size, vertical and geography

Breakup by Component:

Software
Services

Breakup by Solution Type:

Information Technology Solutions
New Product Development Solutions
Others

Breakup by Deployment Type:

On-premises
Cloud-based

Breakup by Organization Size:

Large Enterprises
Small and Medium Enterprises

Breakup by Vertical:

Energy and Utilities
Government and Defense
IT and Telecom
Banking, Financial and Insurance Services
Manufacturing
Healthcare and Life Science
Consumer Goods and Retail
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.