USD 6.93 Billion
Project Portfolio Management Market Size, Share, and Growth Analysis
Project Portfolio Management Market By Offering (Software, Services), By Deployment (Cloud, On-premises), By Organization Size (Small Enterprises, Medium Enterprises), By Region -Industry Forecast 2024-2031
Report ID:
SQMIG45F2074 |
Region:
Global |
Published Date: October, 2024
Pages:
165
|Tables:
115
|Figures:
77
Format -
Project Portfolio Management Market Insights
Project Portfolio Management Market size was valued at USD 6.93 Billion in 2023 and is poised to grow from USD 7.75 Billion in 2024 to USD 18.92 Billion by 2032, growing at a CAGR of 11.80% during the forecast period (2025-2032).
The growing adoption of cloud-based services for the remote monitoring of assignments is an essential factor that is expected to contribute significantly to market expansion. A surge in activities such as automation and digitalization across industries such as healthcare, government, BFSI, telecom, and engineering and construction, has stimulated the need for monitoring and analytical solutions to increase productivity and business efficiency. It is significantly encouraging the implementation of project portfolio management (PPM) solutions.
The growing complexities in projects and the need for timely and efficient management are expected to drive global project portfolio management market growth during the forecast period. Moreover, the need to gain a 360-degree view of project operations and resource management is driving the demand for PPM solutions. The software helps with collaborative scheduling, planning, and faster and more efficient decision-making. In addition, a surge in the trend of bringing your device coupled with the growing focus of organizations on attaining faster return on investment (ROI) are the key factors driving the market growth.
Increasing penetration of connected devices in emerging economies such as Brazil, China, and India are expected to keep the industry’s growth prospects upbeat. Increasing investments in research and development activities have encouraged the development of innovative solutions, such as mobile application-based project portfolio management solutions, enabling access to an extensive consumer base. All these factors are propelling the growth of the market.
US Project Portfolio Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Software
Fastest Growth
Services
Growth Rate
11.80% CAGR
Global Project Portfolio Management Market ($ Bn)
Country Share for North America Region (%)
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Project Portfolio Management Market Segments Analysis
Global Project Portfolio Management Market is segmented by Offering, Application, Business Function, Deployment Mode, Organization Size, Vertical, and region. Based on Offering, the market is segmented into Solutions, Services, and Managed Services. Based on Application, the market is segmented into Project Planning & Management, Resource & Capacity Optimization, Budget & Financial Management, Reporting & Analytics, Strategic Portfolio Management, Idea & Demand Management, and Team Delivery & Collaboration. Based on Business Function, the market is segmented into IT & Software Development, Operations, Marketing & Sales, Human Resources, Finance & Accounting, and Research & Development. Based on Deployment Mode, the market is segmented into On-Premises, and Cloud. Based on Organization Size, the market is segmented into Small Enterprises, Medium Enterprises, and Large Enterprises. Based on Vertical, the market is segmented into Construction & Heavy Industries, IT & Telecom, BFSI, Government & Defense, Manufacturing, Healthcare & Life Sciences, Energy & Utilities, Retail & Consumer Goods, Transportation & Logistics, Automotive, and Other Verticals. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Offering
As per the global project portfolio management market forecast, the software segment accounted for the largest revenue share of 68.3% in 2023, due to the increasing demand for more sophisticated and user-friendly software. PPM software that can help businesses manage their projects more effectively. Additionally, small and medium-sized businesses are increasingly adopting PPM software to improve their project management processes and efficiency. The rise of agile project management and the need for better decision-making are also contributing to the growth of the software segment. This software is experiencing enormous demand in all industries. Demand for cloud-based software continues to grow due to additional features with flexible pricing packages.
The services segment is expected to grow at the fastest CAGR of 14.1% during the forecast period. The services segment comprises integration and deployment, support and consulting, and training and education services. The surging demand can be attributed to the innovative services offered by the market players, such as process assessment, process improvement, and reporting and analysis. Developments in project portfolio management services such as on-the-job communication facilities, assignment governing policies, and program facilitation services help organizations in comparing macro-environmental factors that lead to increased productivity and ROI.
Analysis by Deployment
As per the global project portfolio management market analysis, the cloud segment accounted for the largest revenue share of 52.5% in 2023 during the forecast period. Cloud-based solutions offer cost efficiency and flexibility, due to which the user preference for the adoption of these solutions is higher. Cloud systems offer a greater level of scalability, reduced cost of implementation, and continual development. The deployment of cloud-based solutions stimulates the ease of service delivery due to its virtual presence that makes organizations access data across connected devices at any point in time. Furthermore, cloud-based PPM solutions facilitate higher control over operations across multiple business channels. These benefits are expected to drive the adoption of cloud PPM solutions across verticals.
The on-premises segment is expected to grow at a significant CAGR of 10.0% during the forecast period. It has been a classical approach that has existed since the beginning of the computer age. The on-premises solution offers total control over the software as all sensitive data is stored internally, and there is no risk of exposing it to a third party. On-premises deployment further enables more options for customizations. However, companies are increasingly shifting toward the usage of cloud-based solutions as on-premises solutions have higher operational costs. The other factor is the high maintenance requirements, as it becomes the organization's responsibility to upgrade and scale the solution when required.
Global Project Portfolio Management Market By Offering (%)
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Project Portfolio Management Market Regional Insights
North America is anticipated to lead the global project portfolio management market share. The high penetration of advanced technologies, such as cloud computing, artificial intelligence (AI), and others, is driving the growth of software in North America. Cloud-based solutions offer robust processing and easy access to project portfolio management for organizations, thereby fueling the market. Similarly, SMEs' growing adoption of cloud solutions would propel the market growth. The region is expected to continue its dominance during the forecast period owing to the considerable infrastructure advancements and propagation of startup companies. Moreover, companies with digital infrastructure are using PPM solutions to initiate collaborative decision-making to enhance their project success rate in the region.
As per the global project portfolio management market outlook, Asia Pacific is predicted to grow at the highest CAGR of 10.6% during the forecast period. The Asia Pacific region in the market is highly fragmented due to the growing number of players whose key focus is to increase their geographical presence. Acceptance of technology and growing digitization are two significant aspects that would most likely favor the market expansion. Cloud-based solution usage is expected to boost the SaaS PPM demand in the region. As a result, the market in Asia Pacific is expected to increase significantly during the forecast period by offering customized services to clients across developing countries worldwide.
Global Project Portfolio Management Market By Geography
- Largest
- Fastest
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Project Portfolio Management Market Dynamics
Project Portfolio Management Market Drivers
Rising Demand for Cloud-based Solutions
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Cloud computing has evolved enormously in recent years, with many businesses shifting from client/server to cloud computing. Cloud-based tool integration promises important practical business applications such as remote access and monitoring, real-time data analytics, and automatic scheduling. Moreover, improvements in the cloud and cloud-based applications, as well as the rising reliance of contemporary business and company operations on cloud technology, have paved the way for the market to expand constantly throughout the forecast period.
Increasing Demand for Efficient Resource Allocation and Cost Management in Large-scale Projects
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Organizations are aiming more on resource allocation and cost management to confirm that large-scale projects are completed within budget and on time. This demand is pouring on the adoption of project portfolio management (PPM) solutions as industries seek tools that can provide better importance and control over multiple projects. Companies in industries such as infrastructure and construction development are particularly impacted, where the complexity of handling numerous projects often leads to inefficiencies without proper systems in place.
Project Portfolio Management Market Restraints
Lack of Data Confidentiality
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Data is widely regarded as the most valuable organizational asset and must be safeguarded against cyber threats. Organizations that adopt new advanced digital technologies expose their corporate data to risk. Every technology that promises to enhance corporate processes creates more entry points for hackers and cybercriminals into IT systems. This factor acts as a primary barrier to organizations adopting cloud-based PPM systems.
Ensuring Practical User Training and Adoption
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PPM's significant advancements in automation, ML, and AI are driven by cutting-edge innovations and evolving technologies within these areas. AI-powered analysis and predictive algorithms make it simple to access enhanced forecasting, risk management, and improved decision-making within project portfolios. In addition, automation technologies enable project managers to concentrate on strategic planning by managing everyday tasks such as data entry and status reporting.
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Project Portfolio Management Market Competitive Landscape
The global project portfolio management industry sees intense competition, with a mix of established players and emerging companies bringing innovation. Key players like Microsoft, Oracle, SAP, Planview dominate the market with PPM solutions that comprehensively integrate advanced technologies such as AI, machine integrated learning and predictive analytics. On the other hand, emerging players and niche providers including Monday.com, Smartsheet, and Wrike, focus on easy-to-use, cloud-based solutions designed for small and medium-sized enterprises (SMEs). These offerings distinguish themselves by customizable platforms and accessible subscription-based pricing models for PPM devices.
Top Players in Project Portfolio Management Market
- Oracle (US)
- Smartsheet (US)
- Microsoft (US)
- Asana (US)
- Servicenow (US)
- Planview (US)
- SAP (Germany)
- Atlassian (Australia)
- Adobe (US)
- Workday (US)
- GFT Technologies (Germany)
- Wrike (US)
- Monday.com (Israel)
- Opentext (Canada)
- Hexagon (Sweden)
- Broadcom (US)
- Upland Software (US)
- Sopheon (UK)
- Planisware (France)
- Planforge (Germany)
- Bestoutcome (UK)
- Celoxis (India)
- Cerri (Italy)
- Sciforma (France)
- Project Objects (Italy)
- Workotter (US)
- Ivanti (US)
- Corporater (Norway)
- Cora Systems (Ireland)
- Teamwork (Ireland)
- Keyedin Projects (UK)
- Meisterplan (Germany)
- ITM Platform (Spain)
- Acuity PPM (US)
- ProjectManager (Australia)
- Uniphi (US)
- Proggio (Israel)
- Assessteam (France)
- Triskell Software (France)
- Primetric (Poland)
- Cplace (Germany)
- Apptivo (US)
Project Portfolio Management Market Recent Developments
- March 2023 – OnePlan, the leading portfolio management software announced the launch of its new Agile Portfolio Management solution supporting JIRA capabilities.
- February 2023 – Sinami extended Sinami’s commitment to connect teams for project success PPM Core integrates all project stakeholders and information in a way that enables seamless teamwork across teams, projects and departments.
- January 2023 - Projectmates, a provider of SaaS-based project management software for business construction, is acquired by Hexagon AB. As a result, ProjectMates has operated as part of Hexagon’s Geosystems division and has served a variety of businesses and client groups with more than 100,000 ongoing projects in North America.
Project Portfolio Management Key Market Trends
- Increasing Adoption of Agile Practices in Businesses to Stimulate Market Expansion: Companies began to reassess their overall project management practices as project complexity increased. In today's fast-paced environment, traditional waterfall projects do not always provide the best response to cost, equipment, activity, and resource management. Therefore, companies transform their business by transforming their organizational processes into an agile business model.
- Increasing Infrastructure Development: Emerging markets, particularly in Asia and Africa are undergoing rapid infrastructure development, making an important opportunity for PPM software adoption. As these regions invest in large-scale infrastructure projects such as highways, airports and energy plants, the intricacy of managing multiple projects grows. PPM software can deliver real-time perceptibility into project performance, helping companies enhance timelines and resources.
Project Portfolio Management Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the global project portfolio management industry is witnessing steady growth, driven by the increasing need of organizations to optimize resources, improve decision-making, and align projects with strategic objectives. The market benefits from the widespread use of digital tools and cloud-based solutions that facilitate the execution of portfolio management processes. Key industries such as IT, healthcare, construction, and manufacturing are leveraging PPM solutions to manage complex projects and adapt to rapidly changing business environments. This market is highly competitive, with major players like Microsoft, Oracle, SAP offering advanced platforms with AI-driven analytics and automation features. Emerging players focus on niche solutions tailored to specific industries or large businesses. However, challenges such as high implementation costs and the need for skilled personnel to manage PPM tools may hinder progress. Overall, the market is poised for expansion as organizations place higher priority on efficiency and strategic planning in a dynamic business environment.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6.93 Billion |
| Market size value in 2032 | USD 18.92 Billion |
| Growth Rate | 11.80% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Project Portfolio Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Project Portfolio Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Project Portfolio Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Project Portfolio Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Project Portfolio Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Project Portfolio Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Project Portfolio Management Market Report Snapshots
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