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Project Portfolio Management Market Trends

Report ID: GMI6182
Published Date: Jul 2023
Report Format: PDF

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Project Portfolio Management Market Trends

The rising digitization and increasing adoption of automation have fueled the demand for analytical and monitoring solutions in multi-regional businesses, supporting market growth. The increased demand for project management software and services to effectively manage & reduce project complexities is expected to augment market expansion over the forecast period. Furthermore, rising public and private investments in R&D activities have accelerated innovation in solutions such as mobile application-based project portfolio management solutions that enable firms to reach a large consumer base. The increasing use of project portfolio management solutions in data management services and the growing trend of Bring Your Own Device (BYOD) across multiple business sectors are facilitating the industry growth during the forecast period.

Authors: Preeti Wadhwani, Anish Pathak

Frequently Asked Questions (FAQ) :

Market size for project portfolio management was USD 5.3 billion in 2023 and is expected to register over 7% CAGR from 2024-2032 due to the increasing use of cloud-based services for remote assignment monitoring worldwide.

The large enterprises segment held 25% share of the project portfolio management market in 2023 and is expected to register an appreciable CAGR from 2024-2032 owing to the availability of high capital and affordability, aiding large organizations to implement these solutions.

North America held over 35% share of the project portfolio management industry in 2023 and is expected to register a commendable CAGR from 2024-2032 due to significant infrastructure development and the spread of startup companies in the region.

Oracle Corporation, Microsoft Corporation, SAP SE, Adobe Inc., HPE, Hexagon AB, and Planview Inc., are some of the major project portfolio management companies worldwide.