The global project portfolio management market was valued at USD 4.80 billion in 2022 and is expected to grow at a CAGR of 13.0% from 2023 to 2030. 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, including 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 project portfolio management software assists businesses in improving productivity, increasing the pace of innovation, and adapting to the rapidly shifting economic scenario and competitive dynamics. Additionally, the PPM software offers capabilities such as time tracking, data analytics, and cost management. Increasing penetration of connected devices in emerging economies such as Brazil, China, and India is 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 PPM market.

Gather more insights about the market drivers, restrains and growth of the Global project portfolio management market

Project Portfolio Management Market Segments Highlights:

• The information technology segment accounted for the largest revenue share of 54.1% in 2022. It is attributed to the increasing demand for more sophisticated and user-friendly PPM software that can help businesses manage their IT projects more effectively.
• The new product development segment is expected to grow at the fastest CAGR of 14.4% during the forecast period.
• The software segment accounted for the largest revenue share of 68.3% in 2022, owing to the increasing demand for more sophisticated and user-friendly PPM software that can help businesses manage their projects more effectively.
• The services segment is expected to grow at the fastest CAGR of 14.1% during the forecast period.
• The cloud segment accounted for the largest revenue share of 52.5% in 2022 and is expected to grow at the fastest CAGR of 15.2% during the forecast period.
• The on-premise segment is expected to grow at a significant CAGR of 10.0% during the forecast period.
• The large enterprise segment accounted for the largest revenue share of 62% in 2022. It can be attributed to the availability of high capital and affordability, allowing large organizations to adopt PPM solutions.
• The small and medium enterprise segment is expected to grow at the fastest CAGR of 14.0% during the forecast period.
• The BFSI segment accounted for the largest revenue share of 24.0% in 2022. Project portfolio management solutions facilitate the BFSI industry in managing customer transaction data due to its complex multi-regional operation.
• IT & Telecom segment is expected to grow at the fastest CAGR of 14.7% during the forecast period.
• North America dominated the project portfolio management market, with the largest revenue share of 42.0% in 2022. The region is expected to continue its dominance over the projected timeline owing to the considerable infrastructure advancements and propagation of startup companies.
• Asia Pacific is expected to grow at the fastest CAGR of 16.4%.

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Project Portfolio Management Market Segmentation

Grand View Research has segmented the global project portfolio management market based on offering, deployment, enterprise size, end use, and region:

Project Portfolio Management Solution Outlook (Revenue, USD Million, 2018 - 2030)

• Information technology
• New product development
• Others

Project Portfolio Management Platform Outlook (Revenue, USD Million, 2018 - 2030)

• Software
• Services
  • Integration and Deployment
  • Support and Consulting
  • Training and Education

Project Portfolio Management Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud
• On-premise

Project Portfolio Management Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• Small & medium Enterprises
• Large enterprises

Project Portfolio Management Application Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI
• Government
• Engineering & construction
• Healthcare
• IT & telecom
• Others

Project Portfolio Management Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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