According to a new report Global Project Portfolio Management Market, published by KBV Research, The Global Project Portfolio Management Market size is expected to reach $8.7 billion by 2025, rising at a market growth of 16.3% CAGR during the forecast period. Multi-regional companies drive the need for project and portfolio management approaches to promote successful decision-making and avoid complexities of projects. Extensive use of project and portfolio management tools in data analytics to provide convenient services at low cost to customers are expected to drive market growth in the BFSI and IT & Telecom sectors.
The Large Enterprises market dominated the Global Project Portfolio Management Market by Organization Size 2018. The small and medium-sized enterprises held a substantial share in the market in terms of revenue during the year 2018. The increase in foreign investment in small and medium-sized enterprises is expected to drive the growth of the enterprise size category.
The On-premise market dominated the Global Project Portfolio Management Market by Deployment Type 2018. The cloud-based segment witnessed a high growth rate of 15.4% over the forecast period is projected to grow phenomenally. Cloud-based solutions deliver cost-effectiveness and versatility, which enhances the user's preference for implementing such applications.
The Information Technology market dominated the Global Project Portfolio Management Market by Solutions 2018. New product development is projected to emerge as the fastest growing category in 2018 and grows at a CAGR of 16.7% during the forecast period. Cloud and mobile technology proliferation has led to rising investment in new product technologies to build apps that can be used on-the-go.
North America is one of the major markets in the PPM market and is expected to witness a CAGR of 14.2% during (2019-2025). The region is composed of developed countries, such as the United States and Canada, and is considered to become the most advanced region in terms of digital technologies and cloud-based PPM solutions. The Europe market is anticipated to witness a CAGR of 15.4% during (2019-2025).
Structural Insights: https://www.kbvresearch.com/project-portfolio-management-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hewlett Packard Enterprise Company (HP Development Company L.P.), SAP SE, Microsoft Corporation, Oracle Corporation, Hexagon AB, Broadcom, Inc., ServiceNow, Inc., Workfront, Inc., Planview, Inc., and Changepoint Corporation.
Recent Strategies Deployed in Project Portfolio Management Market
» Partnerships, Collaborations and Agreements:
Oct-2019: SAP came into partnership with Infosys in which Infosys initiated a new program, Innov8 for accelerating enterprise digital transformation journeys with the use of SAP digital solutions. Together, they help the companies in digital transformation based on SAP S/4 HANA for building intelligent enterprises.
Aug-2019: Planview came into partnership with Tasktop, a value stream management provider. The partnership is aimed at expanding the Planview Agile Scaler offerings for enabling the customers to realize the enterprise scale Lean portfolio management.
Jul-2019: Hexagon PPM announced partnership with AspenTech, process simulation software provider. This partnership is aimed at helping the manufacturers in process industries for managing the financial risks of big and complex projects in a better way.
2019-Jun: Microsoft collaborated with Upland Software, a provider of cloud-based enterprise work management software. In this collaboration, Microsoft teams have been integrated with Upland's PowerSteering, its flagship PPM solution. Through this integration, project team members can collaborate, share documents, communicate, and schedule meetings directly from within their PPM solution with the help of collaboration platform.
May-2019: SAP in collaboration with Mindtree, a global technology services and digital transformation company, launched QuikDeploy, an IP-driven approach that helps the customers in maximizing their use of SAP Solution Manager.
May-2019: ServiceNow signed an agreement with Deloitte in order to accelerate organizations' enterprise digital transformation. Together, the companies develops, coordinates, and brings assets and solutions, new products built on New Platform for helping clients in delivering seamless digital experiences across the enterprises, improving workflows and enhances productivity.
May-2019: Workfront partnered with Adobe for providing the marketing organizations with modern work management backbone. Workfront's application platform would be implemented in Adobe through which enterprise marketing organizations can manage the campaign process.
Nov-2018: Aruba, a HPE company, and Siemens signed partnership agreement for bridging the information technology and operational technology worlds. Through the partnership, both the companies' helps in ensuring that the IT/OT systems can be installed rapidly with ease, supported more efficiently, and operated more securely.
Nov-2018: Hexagon PPM collaborated with SupplHi, vendor management platform. The collaboration allows Smart material clients to work with fully populated standard categorization, which has been developed by SupplHi.
» Acquisition and Mergers:
Oct-2019: Oracle signed an agreement to acquire CrowdTwist, customer loyalty platform. The acquisition helps Oracle in building its own customer experience cloud and CrowdTwist's technology would be integrated with Oracle’s Responsys, Eloqua and CX Unity platforms.
Aug-2019: HPE acquired MapR, a business software company. The acquisition bolsters the existing big data offerings of HPE; the MapR's portfolio has been used by a number of companies in order to store and process the large amount of data.
Jan-2019: SAP completed the acquisition of Qualtrics International, Inc., a pioneer of experience management software. The acquisition offers the businesses the means for delivering exceptional customer, employee product, and brand experience.
Jan-2019: Hexagon acquired J5 International, the operational risk management software vendor. The acquisition enhances the capabilities of Hexagon in operational risk management.
Nov-2018: Broadcom announced the acquisition of CA Technologies. The acquisition bolsters Broadcom's position in semiconductors and infrastructure software solutions. CA's Enterprise Software solutions link everything from mobile to mainframe, providing AI-driven systems to deliver businesses with quality, compliance, and security.
Oct-2018: Hexagon announced the acquisition of Bricys, a developer of CAD software. The acquisition helps Hexagon in extending its domain expertise in building design, adding floors, doors, walls, and other construction related features.
Jan-2018: Oracle took over Aconex that designs software for project collaboration. Under the acquisition, Aconex works with Oracle's existing cloud-based construction software, which enables management, project planning, and payments.
Jan-2018: Hexagon acquired Plant Design Solutions, a distributor of software and services. The acquisition helps Hexagon in enhancing its future interactions with clients.
Jan-2018: Planview took over LeanKit, provider of enterprise grade Kanban visual project management technology. The acquisition helps Planview customers' in adopting lean and agile practices for faster innovation and LeanKit customers' need for PPM for managing the full picture of the entire organization.
» Product Launches and Product Expansions:
Dec-2019: HPE launched HPE GreenLake Central, an advanced software platform. The platform offers the customers with a consistent cloud experience for all their data and applications. The software has the powerful capabilities and benefits that allow each and every role in an organization to achieve the better outcomes.
Nov-2019: SAP made enhancements in its SAP PPM Solution through launching new process in Enterprise Portfolio and Project Portfolio Management solution. The enhancement addresses the intercompany processes for enterprise projects. In this process, the ordering company has the ability to execute a project that order services from an employee who is assigned to other company.
Global Project Portfolio Management Market Segmentation
New Product Development
By Deployment Type
By Organization Size
Small & Medium Enterprises
By End User
IT & Telecom
Engineering & Construction
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of LAMEA
Hewlett Packard Enterprise Company (HP Development Company L.P.)
Project Portfolio Management Market Related Reports:
North America Market
Asia Pacific Market