The Project Portfolio Management Software Market is
fast gaining traction primarily due to the increasing complexities with
the size of the project and increasing trend of workforce mobility.
Moreover, the wide use of enterprise software and applications such as
Enterprise Resource Planning (ERP) and Customer Relationship Management
(CRM) has facilitated its usage in business processes. This has invited
various integration providers, cloud providers, and managed services
providers to emerge in the ecosystem of the PPM software market to
integrate the tool with the most used software in the business.
The inexorable rise in mobile device users and
shifting customer growth of web-based social media has generated new
avenues in the market. These advancements are considered and resulted in
technological developments such as open source movement of PPM tools,
mobile apps, and collaborating PPM tool with social networking have
facilitated businesses with better communication and functionality.
The demand for cloud-based Project Portfolio
Management Software solution is accelerating due to its cost-effective
and easy deployment features. Hence, vendors in these markets are coming
up with technologies and solutions to increase its adoption in Small
and Medium Business (SMB) too. The market is quite competitive with the
entry of niche players which provide innovative integration bridge for
integrating various application and databases thereby increasing their
market bargain capability among the large vendors.
Though there is notable traction of Project Portfolio
Management Software in large enterprise, emergence of SaaS delivery
models has increased its usage in SMBs too. Still there are certain
apprehensions restraining the growth in the PPM market. The foremost
point is lack of adequate tool knowledge which leads to misuse or
underutilization of the tools, and secondly the security concerns
related to cloud solutions. Moreover, need of proficient decision-makers
is utmost importance in order to analyze data well and make effective
decisions.
The report provides an in-depth analysis of the
Project Portfolio Management Software Market across the platform types,
deployment modes, organization sizes, business solutions, industry
verticals, and regions. The market is also segmented by region into
North America (NA), Europe, Asia-Pacific (APAC), Middle East and Africa
(MEA), and Latin America (LA). Among all the regions, North America
holds the maximum market size whereas Europe and APAC are the major
growing areas.
The PPM Software Market is expected to grow from
$2,270.4 million in 2014 to $3,983.0 million by 2019, at an estimated
Compound Annual Growth Rate (CAGR) of 11.9% from 2014 to 2019. The key
players in this market include Oracle, CA Technologies, Microsoft,
Planview, HP, SAP, Planisware, and Innotas, Changepoint, and AtTask.
MarketsandMarkets expects that BFSI, and government
and public utilities vertical will account for the largest market share
throughout the forecast period. However, there are a few revenue
pockets, namely healthcare and pharmaceuticals, IT and telecom, and
energy and power that will witness significant growth in this period.
There are various assumptions that have been taken
into consideration for the market sizing and forecasting exercise. A few
of the global assumptions include political, economic, social,
technological, and economic factors. The dollar fluctuations are
expected to not seriously affect the forecasts in the emerging regions.
The report will help the market leaders or new entrants in this market in the following ways:
- This report segments the market into various sub-segments covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across the different end users and regions.
- This report will help in the better understanding of the competitors and gain more insights to better one’s position in business. There is a separate section on competitive landscape, which includes competitor ecosystem, and mergers and acquisitions, partnerships, and agreements. Besides, there are company profiles of ten players in this market. In this section, market internals are provided that can put one ahead of the competitors.
- The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
Scope of the Report
The research report categorizes the Project Portfolio
Management Software Market to forecast the revenues and analyze the
trends in each of the following sub-markets:
On the basis of platform types:
- Software
- Services
- Integration and deployment
- Support and consulting
- Training and education
On the basis of deployment modes:
- On-premise
- On-demand/cloud
On the basis of organization size:
- Small business
- Medium business
- Large enterprises
On the basis of business solutions:
- Information Technology (IT)
- New Product Development (NPD)
- Professional Services
- Others (marketing teams and engineering and development)
On the basis of verticals:
- Government and public utilities
- Banking, Financial Services, and Insurance (BFSI)
- Engineering and construction
- Energy and power
- IT and telecom
- Retail
- Manufacturing
- Others (transport and logistics, and automotive)
On the basis of regions
- North America (NA)
- Europe (EU)
- Middle East and Africa (MEA)
- Asia-Pacific (APAC)
- Latin America (LA)
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