Project Portfolio Management Industry Overview

The global project portfolio management (PPM) market, valued at USD 4.80 billion in 2022, is projected to grow at a compound annual growth rate (CAGR) of 13.0% from 2023 to 2030. This growth is largely driven by the rising adoption of cloud-based services, which facilitate the remote monitoring of assignments. Cloud solutions have become critical in various sectors, as they allow real-time monitoring, improving project visibility and management. Automation and digitalization across diverse industries such as healthcare, government, BFSI (banking, financial services, and insurance), telecom, and engineering and construction are further increasing the need for monitoring and analytical solutions that enhance productivity and efficiency. These developments are fueling the uptake of PPM solutions across these sectors.

The market's expansion is also propelled by the increasing complexity of projects and the pressing need for timely and efficient project management. In an effort to gain comprehensive insights into project operations and manage resources effectively, organizations are turning to PPM solutions. This software aids in collaborative scheduling, strategic planning, and accelerates decision-making, which contributes to more efficient project execution. The growing trend of “bring your own device” (BYOD), combined with a stronger focus on achieving faster returns on investment (ROI), further drives the demand for PPM solutions, as companies look to streamline processes and reduce delays.

Project portfolio management software not only enhances productivity but also supports rapid innovation, helping businesses adjust to an ever-evolving economic landscape and competitive environment. The PPM software also provides advanced features such as time tracking, data analytics, and cost management, making it highly functional for businesses across different sectors. In emerging markets, such as Brazil, China, and India, the growing penetration of connected devices is creating favorable conditions for the PPM market. Additionally, increased investments in research and development have led to innovative PPM solutions, such as mobile application-based project management, allowing easier access for a broader consumer base and contributing to the industry’s growth prospects.

PPM solutions improve an organization’s adaptability to change and ease the implementation of new projects. They offer enhanced review and monitoring features that help identify project anomalies and delays, enabling timely corrective actions for improved outcomes. By focusing on strategic goals rather than solely on project operations, companies can achieve better results. PPM solutions provide various techniques, including scoring techniques, heuristic models, and visual or mapping methods, to evaluate different projects and optimize resources.

The competitive landscape is increasingly pressuring companies to reduce project costs, thereby bolstering the demand for PPM solutions. However, certain challenges remain, particularly related to security and privacy concerns associated with cloud deployment. Additionally, the complexity and cost of implementing PPM solutions pose significant hurdles to broader adoption. These factors are expected to impact the uptake of PPM solutions, as companies navigate these challenges to balance the benefits of PPM with the constraints involved in its implementation.

Gather more insights about the market drivers, restrains and growth of the Project Portfolio Management Market

Regional Insights:

North America Dominance:

  • North America held the largest share of the project portfolio management (PPM) market revenue in 2022, accounting for 42.0%.
  • This region is expected to maintain its market leadership due to significant infrastructure advancements and a thriving startup ecosystem.
  • Many industrial companies in North America are adopting business intelligence (BI) and analytics solutions, with data-driven strategies playing a crucial role in market growth.
  • Organizations equipped with digital infrastructure are leveraging PPM solutions for collaborative decision-making, which enhances project success rates across the region.

United States Growth Factors:

  • In the U.S., key sectors like healthcare, manufacturing, BFSI, and construction are increasingly adopting PPM services to streamline business operations and reduce unnecessary costs.
  • This environment fosters market growth, as U.S. industry players implement strategies like mergers and acquisitions to expand their service offerings and client base.
  • For example, Tempo Software acquired ALM Works in December 2021 to support clients with improved project decision-making capabilities in Massachusetts.

France’s Positive Market Outlook:

  • Technological advancements, a growing emphasis on digitization, and emerging startups are creating favorable conditions for the PPM market in France.
  • Cloud-based services are gaining popularity in France due to their cost-effective, scalable, and flexible features.
  • Market players are forming strategic partnerships to roll out cloud-based project management solutions to boost sales.
  • For instance, Capgemini and Orange collaborated in May 2021 to establish "Bleu," a company aimed at providing cloud and PPM services in compliance with French state sovereignty requirements.

Asia Pacific Region Growth:

  • Asia Pacific is projected to experience the highest CAGR of 16.4%.
  • This growth is driven by increasing adoption of PPM software, a rise in large-scale projects, higher compliance demands, cloud computing popularity, and numerous government initiatives supporting digitalization and infrastructure expansion.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

  • The global aquaponics market size was estimated at 1,087.3 million in 2024, is projected to grow at a CAGR of 13.5% from 2025 to 2030.
  • The global bring your own device market size was valued at USD 90.59 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 16.9% from 2023 to 2030.

Key Project Portfolio Management Company Insights

The market is characterized by the presence of several big players that hold a significant market share. Several players are emphasizing either acquiring or collaborating with small players to share business intelligence and expertise. For instance,in May 2023, Planview, a platform for connected work from delivery to portfolio planning, collaborated with NTT DATA. As a part of the collaboration, the Planview Tasktop Viz and Planview Tasktop Hub are part of NTT DATA’s global ecosystem of technology solutions and offer organizations improved efficiency and time-to-market predictability.

Key Project Portfolio Management Companies:

  • Broadcom
  • Celoxis Technologies Pvt. Ltd.
  • Changepoint Corporation
  • HP Development Company, L.P.
  • ServiceNow
  • Planview, Inc.
  • Planisware
  • Microsoft
  • Oracle
  • Workfront, Inc.

Order a free sample PDF of the Project Portfolio Management Market Intelligence Study, published by Grand View Research.