Requirement of optimizing the value of project investments and rise in complexity of enterprise projects drive the growth of the global PPM market.

PORTLAND, OREGON, UNITED STATES, August 10, 2021 /EINPresswire.com/ -- Impact of Covid-19 on PPM Market-

• Owing to lockdown imposed in many countries and adoption of "work from home" culture by most of the organizations, the need for project portfolio management services and software increased considerably for efficient tracking and execution of projects. The specialized tools of PPM helped in strategizing and executing projects.
• During the post-pandemic period, the demand for cloud-based PPM solutions would rise as it provides a high level of scalability, reduction in the cost of implementation, and continual availability.

Get detailed COVID-19 impact analysis on the Project Portfolio Management (ppm) Market: https://www.alliedmarketresearch.com/request-for-customization/10754?reqfor=covid

According to the report, the global project portfolio management (PPM) industry generated $4.33 billion in 2019 and is expected to generate $9.16 billion by 2027, witnessing a CAGR of 9.9% from 2020 to 2027. The requirement of optimizing the value of project investments, rise in complexity of enterprise projects and need for collaboration and monitoring tools drive the growth of the global project portfolio management market. However, issues related to data privacy and steep learning curves for PPM software hinder the market growth. On the other hand, reduction in project failure rate by embracing agile methods and adoption of cloud-based PPM integrated applications present new opportunities in the coming years.

Explore Report Description: Get detailed COVID-19 impact analysis on the Project Portfolio Management (ppm) Market- https://www.alliedmarketresearch.com/project-portfolio-management-ppm-market-A10389

The software segment accounted for nearly two-thirds of the global project portfolio management market in 2019, and is projected to maintain its lead position during the forecast period. This is due to resource management, change control, pipeline management, change control, financial management, and most importantly risk assessment and management features provided by software. However, the services segment is estimated to grow at the highest CAGR of 11.6% from 2020 to 2027, owing to the increase in demand for training of employees and maintenance services for organizations.

The BFSI segment contributed to the highest market share in 2019, accounting for more than one-fourth of the global project portfolio management market in 2019, and is expected to maintain its leadership status by 2027. This is due to increased multi-regional operations as well as outsourcing activities in financial institutions. However, the healthcare segment is projected to portray the largest CAGR of 16.4% from 2020 to 2027. This is due to need to integrate various delivery systems to share information and report to agencies along with providing certain aspects of the health services to their patients.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/10754

North America held the highest market share in 2019, accounting for nearly two-fifths of the global project portfolio management market, and is estimated to maintain its dominance in terms of revenue by 2027. This is due to the presence of a large number of solution and service vendors in this region. However, Asia-Pacific is expected to witness the fastest CAGR of 12.6% from 2020 to 2027, owing to dynamic increase in the adoption of the internet by enterprises and rapid technological advancements.

Leading market players

• Oracle Corporation
• Microsoft Corporation
• lanview, Inc.
• Broadcom Inc.
• Workfront
• ServiceNow, Inc.
• Upland Software, Inc.
• Micro Focus
• Planisware
• Sciforma

Official Press Release: https://www.alliedmarketresearch.com/press-release/project-portfolio-management-ppm-market.html

Similar Research Reports for Information, Communication, and Technology:

Weather Forecasting Services Market Expected to Reach $2,777 Mn by 2023

Neural Network Market worth $38,719 Million Globally by 2023

Enterprise Agile Transformation Services Market Expected to Reach $ 63.82 Billion by 2026

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.