The dynamic nature of project management in numerous sectors has led to major trends and transformations in the Project Portfolio Management (PPM) Software industry.
PPM software with AI and ML capabilities is another trend. These tools allow firms to examine massive project data, find trends, and make data-driven forecasts, enhancing project results. PPM software helps manage risk, optimize resources, and forecast projects using AI and ML. This trend shows the industry's acknowledgment of new technology' revolutionary potential in project management.
Organizations want seamless connection with other corporate systems, therefore PPM software interoperability is vital. Integration with CRM, ERP, and other corporate applications is becoming more common in PPM software. Interoperability breaks down silos and unifies project management by providing a comprehensive perspective of organizational activities.
PPM software is changing to prioritize user experience and accessibility. When choosing PPM solutions, firms prioritize user-friendly interfaces, informative dashboards, and mobile accessibility. As more stakeholders—from team members to executives—get involved in project management, effective and easy-to-use software is needed. This tendency reflects a wider industry movement toward project team cooperation and communication.
PPM software companies stress strong security features due to the growing necessity of data protection in the digital era. With sensitive project data stored and handled in these systems, confidentiality and integrity are essential. Modern PPM software addresses data breaches and cyber dangers with encryption, access restrictions, and data protection rules.
Project management has embraced agile methods, impacting PPM software development. Companies are implementing Agile principles to better project responsiveness, adaptability, and cooperation. PPM software companies are supporting Agile principles including iterative development, constant feedback, and adaptive planning. This trend indicates a shift toward flexible and responsive project management.
SaaS and subscription-based pricing structures are common in PPM software. This move away from upfront licensing arrangements lets companies grow their usage as needed, decreasing cost and access barriers for smaller businesses. Organizations get the latest upgrades and features with the subscription model, enabling continual progress and innovation.
As firms realize the strategic importance of project portfolio management, PPM software demand is rising across industries. IT, healthcare, construction, and finance are using PPM solutions to improve project visibility, resource allocation, and risk mitigation. This broad adoption shows that efficient project management is essential to organizational success in today's competitive environment."
Covered Aspects:
Report Attribute/Metric |
Details |
Base Year For Estimation |
  2022 |
Historical Data |
2018- 2022 |
Forecast Period |
  2023-2032 |
Growth Rate |
 6.50% |
Project Portfolio Management Software Market Highlights:
Project Portfolio Management Software Market Overview
The Project Portfolio Management Software Market industry is projected to grow from USD 6.1 Billion in 2023 to USD 10.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2023 - 2032).
With the growing complexity of projects and the need to effectively manage them, the demand for project portfolio management software is significantly increasing. A project portfolio manager is responsible for managing the entire project.  A project manager foresees the project in order to confirm that the resources for the project are allocated optimally as well as the project is running under the specified budget. With large projects, it becomes highly complicated to manage each element of the project manually and hence the need for automation. Project portfolio management (PPM) software offers features for managing the project throughout its lifecycle. Project portfolio management software helps project managers to effectively manage the entire project lifecycle. Project portfolio management software and tools track the project’s schedule, provide executive-level business insights, help the managers to allocate resources efficiently, resolves performance issues, and efficiently access risks.  The software provides data and transparency into the projects for identifying risks, and also for quantifying them. An effective PPM tool helps in tracking the project’s health indicators (such as return on investment) and identify any discrepancies.Â
The vendors operating in this market offer integrated software suite, toolkits, and services to manage the project lifecycle in terms of resource, budget, and time allocation. For instance, monday.com is an Israel-based software development company that offers project portfolio software, at an affordable cost and can be effectively deployed by small and medium enterprises. The company allows project managers to allocate and prioritize tasks, and track multiple projects using dashboards that provide high-level insights in a graphical format. The platform is completely customizable, so the project manager is able to adjust it in accordance with the workflow. Similarly, Celoxis offers a PPM tool which is a comprehensive software solution and work collaboration platform used by a number of brands such as HBO, Rolex, Virgin Care, Adobe, Staples, LG, and Deloitte. It is an easy-to-use solution and is therefore adopted by enterprises of all sizes.
Project Portfolio Management Software Market Synopsis
The Global Project Portfolio Management Software Market has been segmented on the basis of Component, Deployment, Organization Size, Vertical, and Region.
- Based on the component, the project portfolio management software market has been segmented into solution and services. Â The solution segment includes on-premise, cloud/web-based tools that are deployed by enterprises to manage their project effectively. The services segment includes professional services offered by solution providers. These professional services include training, consulting, and maintenance services. The solution segment accounted for the largest share in the overall market in 2018. A large number of verticals are deploying such solutions across the globe, which is driving the market.
- Based on deployment, the project portfolio management software market has been segmented into on-premise and cloud. The on-premise solution accounted for the larger share in 2018; however, the cloud-based solution is expected to grow at the higher CAGR during the forecast period, 2019–2025
- Based on organization size, the project portfolio management software market has been segmented into small & medium enterprises and large enterprises.  The small & medium enterprises segment is expected to grow at the higher CAGR during the forecast period, 2019–2025
- Based on vertical, the project portfolio management software market has been segmented into retail and consumer goods, energy & utilities, media and entertainment, healthcare, IT and telecommunication, transportation and logistics, manufacturing, and others. The healthcare segment is expected to grow at the highest CAGR during the forecast period, 2019–2025
Project Portfolio Management Software Market Regional AnalysisÂ
Geographically, the global project portfolio management software market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America occupies the largest share in the project portfolio management software market. Some of the factors that are responsible for the growth of the market include increasing adoption of such tools by varied vertical, including healthcare and manufacturing and significant investment by multinational companies in several high-profile projects. Moreover, due to the presence of a number of vendors in North America, offering comprehensive solutions to the enterprises, thereby driving the overall market in the region.
Europe occupies the second position in the market. Europe has been segmented into the UK, Germany, France, Spain, Italy, and the rest of Europe. According to the MRFR analysis, the UK is expected to gain the highest market share, followed by Germany and France. The growing need for effective project management solutions is the key factor driving the growth of the market in the region.Â
Project Portfolio Management Software Market Companies CoveredÂ
The Key Players of the Global Project Portfolio Management Software Market are,
- Oracle Corporation (US)
- Microsoft (US)
- Planview, Inc. (the US)
- SAP (Germany)
- Broadcom (US)
- Changepoint Corporation (US)
- Micro Focus (UK)
- Workfront, Inc. (UK)
- Sopheon (US)
- HEXAGON (Sweden
- Upland Software, Inc. (the US)
- Planisware (US)
- Keyedin Projects (US)
- One2Team (US)
- MEISTERPLAN (Germany)Â
Project Portfolio Management Software Market Key Developments
- In November 2016, Planview announced the launch of Projectplace, a next-generation collaborative work management solution for teams
- In November 2019, Broadcom expanded collaboration with Infosys, delivering industry-first innovations to automate business processes, AIOPS, and testing for SAP S/4HANA customers
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