DUBLIN, Jan. 24, 2020 /PRNewswire/ -- The "Global Project Portfolio Management Market (2019-2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Project Portfolio Management Market size is expected to reach $8.7 billion by 2025, rising at a market growth of 16.3% CAGR during the forecast period.
Rapid growth in automation and digitization has induced the need for monitoring and analytical solutions to improve productivity across different industries. Therefore, the proper use of resource, cost management, time tracking, data analytics etc. are specific facilities offered by software and services for project portfolio management.
Growing acceptance of cloud computing services in small and medium-sized enterprises (SMSE) and growing penetration of connected devices in emerging economies is further expected to fuel global market demand for project portfolio management. An increased rate in investments in research and development by key market players has progressed towards innovative solutions like portfolio management solutions based on mobile applications, thereby allowing this segment to grow in the future.
Based on Platform, the market is segmented into Software and Services. The increasing trend of project and portfolio management solutions across SMEs has positively affected the need for support and consulting services. Such services promote scoping, planning, and changing management practices that make business operations more effective in SMEs. In addition, the growing trend of cloud-based operation services adopting organizations has encouraged growth in support and consulting services. Such programs also encourage personalized approaches to be implemented.
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Broadcom, Inc. and Microsoft Corporation are some of the forerunners in the Project Portfolio Management Market.
The market research report covers the analysis of keystake holders of the market. Key companies profiled in the report include Hewlett Packard Enterprise Company (HP Development Company L.P.), SAP SE, Microsoft Corporation, Oracle Corporation, Hexagon AB, Broadcom, Inc., ServiceNow, Inc., Workfront, Inc., Planview, Inc., and Changepoint Corporation.
Recent Strategies Deployed in the Project portfolio Management Market
Partnerships, Collaborations, and Agreements
- Oct-2019: SAP came into partnership with Infosys in which Infosys initiated a new program, Innov8 for accelerating enterprise digital transformation journeys with the use of SAP digital solutions. Together, they help the companies in digital transformation based on SAP S/4 HANA for building intelligent enterprises.
- Aug-2019: Planview came into partnership with Tasktop, a value stream management provider. The partnership is aimed at expanding the Planview Agile Scaler offerings for enabling the customers to realize the enterprise scale Lean portfolio management.
- Jul-2019: Hexagon PPM announced partnership with AspenTech, process simulation software provider. This partnership is aimed at helping the manufacturers in process industries for managing the financial risks of big and complex projects in a better way.
- 2019-Jun: Microsoft collaborated with Upland Software, a provider of cloud-based enterprise work management software. In this collaboration, Microsoft teams have been integrated with Upland's PowerSteering, its flagship PPM solution. Through this integration, project team members can collaborate, share documents, communicate, and schedule meetings directly from within their PPM solution with the help of collaboration platform.
- May-2019: SAP in collaboration with Mindtree, a global technology services and digital transformation company, launched QuikDeploy, an IP-driven approach that helps the customers in maximizing their use of SAP Solution Manager.
- May-2019: ServiceNow signed an agreement with Deloitte in order to accelerate organizations' enterprise digital transformation. Together, the companies develops, coordinates, and brings assets and solutions, new products built on New Platform for helping clients in delivering seamless digital experiences across the enterprises, improving workflows and enhances productivity.
- May-2019: Workfront partnered with Adobe for providing the marketing organizations with modern work management backbone. Workfront's application platform is expected to be implemented in Adobe through which enterprise marketing organizations can manage the campaign process.
Acquisition and Mergers
- Oct-2019: Oracle signed an agreement to acquire CrowdTwist, customer loyalty platform. The acquisition helps Oracle in building its own customer experience cloud and CrowdTwist's technology is expected to be integrated with Oracle's Responsys, Eloqua and CX Unity platforms.
- Aug-2019: HPE acquired MapR, a business software company. The acquisition bolsters the existing big data offerings of HPE; the MapR's portfolio has been used by a number of companies in order to store and process the large amount of data.
- Jan-2019: SAP completed the acquisition of Qualtrics International, Inc., a pioneer of experience management software. The acquisition offers the businesses the means for delivering exceptional customer, employee product, and brand experience.
- Jan-2019: Hexagon acquired J5 International, the operational risk management software vendor. The acquisition enhances the capabilities of Hexagon in operational risk management.
Product Launches and Product Expansions
- Dec-2019: HPE launched HPE GreenLake Central, an advanced software platform. The platform offers the customers with a consistent cloud experience for all their data and applications. The software has the powerful capabilities and benefits that allow each and every role in an organization to achieve the better outcomes.
- Nov-2019: SAP made enhancements in its SAP PPM Solution through launching new process in Enterprise Portfolio and Project Portfolio Management solution. The enhancement addresses the intercompany processes for enterprise projects. In this process, the ordering company has the ability to execute a project that order services from an employee who is assigned to other company.
- Information Technology
- New Product Development
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- IT & Telecom
- Engineering & Construction
- North America
- Hewlett Packard Enterprise Company (HP Development Company L.P.)
- SAP SE
- Microsoft Corporation
- Oracle Corporation
- Hexagon AB
- Broadcom Inc.
- ServiceNow Inc.
- Workfront Inc.
- Planview Inc.
- Changepoint Corporation
For more information about this report visit https://www.researchandmarkets.com/r/s4lmnm
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