Project Portfolio Management Market to Exhibit a CAGR of 7.9% Between 2024-2032; Rising Demand for Enhanced Project Control and Efficiency to Drive Market Growth

The global project portfolio management market size was valued at USD 4.74 billion in 2023. The market is projected to grow from USD 5.04 billion in 2024 to USD 9.23 billion by 2032, exhibiting a CAGR 7.9% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Project Portfolio Management Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By Deployment (On-Premise, Cloud-based, and Hosted), By Enterprise Type (Large Enterprises and Small and Medium Enterprises (SMEs)), By Application (Project and Portfolio Governance, Portfolio Dashboards and Analytics, Visibility and Reporting, Resource Management, Financial Planning and Management, and Others), By Vertical (IT and Telecommunications, BFSI, Government, Engineering & Construction, Healthcare, and Others), and Regional Forecast, 2024-2032”.

This software centrally manages multiple projects in an organization. It helps achieve and coordinate all parts of a project. The system provides vital data through interactive dashboards to ensure that all projects taken are completed according to businesses goals. As a result, demand for Project Portfolio Management (PPM) software is rising across all industries as it helps companies to meet and achieve their business goals.

Bubble Ltd. Selected as G-Cloud 12 Supplier for PPM Services Adapting to Remote Work

Due to the COVID-19 pandemic, enterprises have experienced significant disruptions in their operating activities, leading to a shift from offline business operations to remote working environments. In September 2020, Bubble Ltd. made an important announcement, stating that it has been chosen as a supplier for PPM services to the public sector under the U.K. Government's Crown Commercial Service Digital Marketplace's G-Cloud 12 program.

OnePlan Launches Agile Portfolio Management Solution for Enhanced Control

OnePlan unveiled its latest offering, an agile portfolio management solution that integrates with Jira's functionalities in March 2023. This innovative solution aims to help organizations achieve enhanced visibility and control over their portfolios, align work with strategic goals, and make informed decisions based on data.

Growing Demand for Remote Portfolio Management Systems Driven by Cloud Solutions

The demand for remote portfolio management systems is on the rise, driven by factors such as the growing acceptance of cloud-based solutions, widespread use of portable computing devices, and the need for business optimization. Organizations are increasingly adopting project portfolio management systems that provide real-time project updates, enabling them to enhance project efficiency and streamline operations.

However, the market growth is expected to be hindered by concerns over data confidentiality.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/project-portfolio-management-ppm-market-104257

Competitive Landscape

Business Focus on Long-term Partnerships to Develop Innovative Vehicles

As businesses are compelled to continuously upgrade and adopt new offerings, the fragmented market is expected to experience intense competition. This rising competition is likely to drive the market growth and create additional opportunities for market players.

Notable Industry Development: 

• August 2021 – Aavenir, Inc. announced the integration of Aavenir Invoiceflow, an accounts payable AI-enabled solution, with ServiceNow Project Portfolio Management to track project expenses and automate the actualization of project costs.

List of Key Players Profiled in the Report:

• Oracle Corporation (U.S.)


• Microsoft Corporation (U.S.)


• SAP SE (Germany)


• Adobe (Workfront) (U.S.)


• Hewlett Packard Enterprise Development LP (U.S.)


• Broadcom Inc. (U.S.)


• ServiceNow (U.S.)


• HEXAGON AB (Sweden)


• ATLASSIAN (U.S.)


• Planview, Inc. (U.S.)

Further Report Findings:

• Cloud-based solutions drive the North America’s project portfolio management market share dominance. The market was valued at USD 2.24 billion in 2022, by providing strong processing power and easy accessibility to project portfolio management for organizations.


• Asia Pacific is poised to experience the highest CAGR of 10.6% during the forecast period due to the influx of numerous players aiming to expand their geographical footprint.

Table of Segmentation