Project Portfolio Management (PPM) Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 - 2025
Global Project Portfolio Management Market: Snapshot
Project portfolio management (PPM) alludes to a procedure used by project management organizations and project managers to estimate the potential return of undertaking a project. At its most basic, project portfolio management and project management differ in terms of number of projects. Project portfolio management looks into every ongoing project or proposed project and its viability to meet overall business goals. Project portfolio managers organize and consolidate every piece of information regarding proposed and current projects and provide projections and business analysis for companies looking to invest in new projects.
Project portfolio management gives managers and organizations the ability to view the big picture;
Project portfolio management tools help companies fragment every detail of a proposed project – resources, budgets, timelines, tasks, and goals. It helps companies weigh advantages of proposed projects against current projects, and gauge risks that offer the most rewards. Using key parameters to gauge cost versus returns, PPM helps organizations determine if a project should be carried forward. This allows for creation of replicable and fluid workflows that ensure efficiency and most favorable team performance.
PPM helps project managers and project management organizations have a global view of each project. PPM enables every element of a project to be presented as whole, because of which problems can be predicted much before their occurrence.
PPM provides the foresight to organizations to identify potential risks and put necessary measures in place. This way a company can proactively manage risks, allow teams to accurately estimate potential delays, and deploy measures to prevent or alleviate those risks if they are unavoidable.
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.
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.
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.
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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