Dublin, Dec. 17, 2019 (GLOBE NEWSWIRE) -- The "Project Portfolio Management Market by Component (Solution and Services), Organization Size, Deployment Mode, Vertical (Energy & Utilities, Government & Defense, Manufacturing, and Healthcare & Life Sciences), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global PPM market is estimated to be USD 4 billion in 2019 and projected to reach USD 5.6 billion by 2024, at a CAGR of 6.9% during the forecast period.
Major vendors offering PPM solution and services across the globe are: Microsoft (US), SAP SE (Germany), Oracle (US), Broadcom (US), Hexagon (Sweden), Planview (US), Workfront (US), ServiceNow (US), Upland Software (US), Micro Focus (UK), Planisware (France), Sciforma (US), Clarizen (US), Sopheon (US), Changepoint (US), Cerri (Switzerland), KeyedIn Projects (US), One2Team (US), ONEPOINT Projects (Austria), Meisterplan (Germany), Bestoutcome (UK), and Intelit Smart Group (Brazil).
The study includes an in-depth competitive analysis of these key players in the PPM market, with their company profiles, recent developments, and key market strategies.
Growing demand for cloud-based PPM solution to gain a birds view on project operations and resource management are expected to drive the growth of the PPM market
The PPM market is driven by various factors, such as the growing need to leverage agile methodologies to control project costs, reduce the project failure rate, and to gain end-to-end project transparency. However, concerns of organizations related to data confidentiality can hinder the growth of the market.
The healthcare and life sciences segment to grow at the highest CAGR during the forecast period
Strategic planning plays a crucial role in the healthcare and life sciences vertical, particularly when implementing and operationalizing an Electronic Health Record (EHR). With the increasing demand for PPM solutions and services in the healthcare vertical for Information Technology (IT) project management, reducing medical reimbursements, and the movement toward value-based purchasing, healthcare institutions are implementing PPM solutions to control their CAPEX and OPEX, which results in long-term benefits. Moreover, the PPM solution ensures that projects of healthcare organizations are conducted in a disciplined and consistent manner.
The consulting and implementation services segment to account for the highest market share during the forecast period
Consulting and implementation services provide ease to organizations in selecting the right PPM solution that aligns with their business-specific requirements. Since, there is no one-size-fits-all PPM solution, which can be deployed by organizations to manage multiple complex projects, vendors offer consulting services for end-users to be able to customize the PPM solution as per their demand. In the aftermath of selecting the appropriate PPM solution, end-users face the challenge of implementing the modern PPM solution with legacy IT systems and solution suites. Hence the demand for consulting and integration services is on the rise and is anticipated to grow further during the forecast period.
APAC expected to grow at the highest rate during the forecast period
The PPM market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, due to a growth in the demand for technologically driven PPM solution and services. The PPM solution enables organizations to improve their project operations by eliminating unwanted multi-tasks and reducing resource overload. The APAC region is expected to experience extensive growth opportunities during the forecast period. Australia and New Zealand (ANZ), India, and China have emerged as undisputed leaders in the APAC PPM market.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Project Portfolio Management Market
4.2 North America Market By Vertical and Country
4.3 Project Portfolio Management Market: Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Gaining 360-Degree View Into Project Operations and Resource Management
5.2.1.2 Growing Demand for Cloud-Based Ppm Solutions
5.2.2 Restraints
5.2.2.1 Concerns of Organizations Related to Data Confidentiality
5.2.3 Opportunities
5.2.3.1 Reducing Project Costs and Project Failure Rate By Embracing Agile Methods
5.2.4 Challenges
5.2.4.1 Selecting Right Solution That Aligns With Organization's Business Need
5.2.4.2 Blending Modern Ppm Solutions With Legacy Systems
5.3 Use Cases
5.3.1 Use Case 1: Schweizer Electronic AG Chose Daptiv Ppm Solution of Changepoint to Manage Portfolio and Align It With Critical Business Processes
5.3.2 Use Case 2: Zhongda Testing Implemented Oracle Ppm Solution to Strengthen Cost Control for Thousands of Projects and Boost Profitability
5.3.3 Use Case 3: Royal Bank of Scotland Deployed Planview Enterprise One to Speed Up Delivery Process and Eliminate the Need for Infrastructure Management
5.3.4 Use Case 4: Basware Reduces Revenue Leakage By 75% Through Implementation of Planview Enterprise One and Projectplace
6 Project Portfolio Management Market, By Component
6.1 Introduction
6.2 Solution
6.2.1 Solution: Market Drivers
6.3 Services
6.3.1 Consulting and Implementation
6.3.1.1 Consulting and Implementation: Market Drivers
6.3.2 Training, Support, and Maintenance
6.3.2.1 Training, Support, and Maintenance: Market Drivers
7 Project Portfolio Management Market, By Deployment Mode
7.1 Introduction
7.2 On-Premises
7.2.1 On-Premises: Market Drivers
7.3 Cloud
7.3.1 Cloud: Market Drivers
8 Project Portfolio Management Market, By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.2.1 Large Enterprises: Market Drivers
8.3 Small and Medium-Sized Enterprises
8.3.1 Small and Medium-Sized Enterprises: Market Drivers
9 Project Portfolio Management Market, By Vertical
9.1 Introduction
9.2 Energy and Utilities
9.2.1 Energy and Utilities: Market Drivers
9.3 Government and Defense
9.3.1 Government and Defense: Market Drivers
9.4 IT and Telecom
9.4.1 IT and Telecom: Market Drivers
9.5 Banking, Financial Services, and Insurance
9.5.1 Banking, Financial Services, and Insurance: Market Drivers
9.6 Manufacturing
9.6.1 Manufacturing: Market Drivers
9.7 Healthcare and Life Sciences
9.7.1 Healthcare and Life Sciences: Market Drivers
9.8 Consumer Goods and Retail
9.8.1 Consumer Goods and Retail: Market Drivers
9.9 Others
10 Project Portfolio Management Market, By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East & Africa
10.6 Latin America
11 Competitive Landscape
11.1 Overview
11.2 Competitive Scenario
11.2.1 New Product/Solution Launches and Product Enhancements
11.2.2 Business Expansions
11.2.3 Acquisitions
11.2.4 Partnerships, Agreements, and Collaborations
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
12 Company Profiles
12.1 Introduction
12.2 Oracle
12.3 Planview
12.4 Broadcom
12.5 SAP
12.6 Microsoft
12.7 Workfront
12.8 Hexagon
12.9 ServiceNow
12.10 Upland Software
12.11 Micro Focus
12.12 Planisware
12.13 Sciforma
12.14 Clarizen
12.15 Sopheon
12.16 Cerri
12.17 Changepoint
12.18 Keyedin Projects
12.19 One2Team
12.20 ONEPOINT Projects
12.21 Meisterplan
12.22 Intelit Smart Group
12.23 Bestoutcome
12.24 Right-To-Win
For more information about this report visit https://www.researchandmarkets.com/r/xmldaa
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