What Is The Leading Driver Behind Automation And Digitalization Fueling Project Portfolio Management Market Growth Market Expansion in 2025

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What Will the Project Portfolio Management Industry Market Size Be by 2025?
The size of the project portfolio management market has seen robust growth in the previous years. The market, which was valued at $5.86 billion in 2024, is expected to increase to $6.18 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.5%. Factors contributing to this historic growth include a heightened demand for resource optimization, a rise in project failures, the worldwide expansion of businesses, budget limitations, strategic alignments, and a growing need for mobile accessibility.

What's the Long-Term Growth Forecast for the Project Portfolio Management Market Size Through 2029?
The market size of project portfolio management is predicted to experience accelerated expansion in the coming years, reaching $9.17 billion by 2029, at a compound annual growth rate (CAGR) of 10.4%. The anticipated growth during the forecast period can be attributed to the emergence of hybrid work models, amplified stakeholder expectations, escalating cyber security issues, shifting regulatory environments, improvements in user experience, and a heightened focus on portfolio visibility. Key trends projected for this forecast period incorporate cloud-based Project Portfolio Management (PPM) solutions, agile and hybrid project management strategies, AI-guided predictive analytics, and integrations with collaborative platforms.

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What Are the Key Growth Drivers Fueling the Project Portfolio Management Market Expansion?
The rise in activities like automation and digitalization in different sectors is anticipated to boost the project portfolio management market's expansion in the coming days. Automation is a process for managing systems or operations using automatic means, while digitalization involves transforming all tangible data into electronic format. Different businesses are deploying automation to address labor shortages and enhance their operational efficiency. Project portfolio management is crucial for handling vast data quantities pertaining to various projects and arranging them in a single system, facilitated by heightened automation and digitization. For example, a 2022 survey by UiPath, an American enterprise automation software firm, revealed that 78% of company executives who responded were likely to invest or increase their investments in enterprise automation. Additionally, 83% stated that their firms were presently investing or employing automation tools. Consequently, the escalating automation and digitalization in various sectors are propelling the growth of the project portfolio management market.

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What Are the Key Trends Driving Project Portfolio Management Market Growth?
The adoption of cutting-edge technologies is a predominant trend in the project portfolio management market, with many leading firms utilizing technologies such as artificial intelligence (AI) to boost their standing in the market. Take monday.com, an Israel-based company that specializes in task and workflow management, as an example. In August 2024, they introduced a novel Portfolio Management Solution for enterprise clients. This solution intends to bolster team cooperation and efficiency by presenting portfolio managers and executives with a comprehensive snapshot of significant projects via a user-friendly interface. The aim is to simplify project management by removing the need to navigate through a multitude of detailed reports.

How Is the Project Portfolio Management Market Segmented?
The project portfolio managementmarket covered in this report is segmented -

1) By Component: Solution, Services
2) By Deployment: On Premises, Cloud
3) By Organization Size: Large Enterprises, SMEs
4) By Application: Project Management, Portfolio Management, Demand Management, Resource Management, Financial Management, Other Applications
5) By Vertical: Energy And Utilities, Government And Defense, IT And Telecom, Banking, Financial Services And Insurance, Manufacturing, Healare And Lifesciences, Consumer Goods And Retail, Other Verticals

Subsegments:
1) By Solution: Project Management Software, Portfolio Management Software, Resource Management Software, Reporting And Analytics Tools, Collaboration Tools
2) By Services: Consulting Services, Implementation Services, Training And Support Services, Managed Service

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Which Companies Are Leading the Charge in Project Portfolio Management Market Innovation?
Major companies operating in the project portfolio management market are Broadcom Inc., Celoxis Technologies Pvt. Ltd., Wrike Inc., HP Development Company L.P., ServiceNow Inc., Planview Inc., Planisware S.A.S., Microsoft Corporation, Oracle Corporation, Workfront Inc., SAP SE, Logic Software Inc, ProductDossier Solution, Sopheon Corporation., Cerri.com AG., Keyedin Inc., Atlassian Corporation PLC, Upland Software Inc., Clarizen Inc., Sciforma Corporation, Changepoint Corporation, Mavenlink Inc., Project Objects Solutions Limited, Innotas a Planview company, Genius Project, Deltek Inc., One2Team, ProSymmetry Inc., Project Insight Inc., Meisterplan Inc.

Which Regions Are Leading the Global Project Portfolio Management Market in Revenue?
North America was the largest region in the project portfolio management market share in 2024. The regions covered in the project portfolio management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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