Project Portfolio Management Market Trends, Analysis & Forecast, 2032

As per a recent research report, Project
Portfolio Management Market surpass USD 10.2 Bn by 2032.

The growing number
of complex projects undertaken by organizations along with the subsequent need
for efficient management and coordination will influence the market growth. In
addition to ensuring the alignment with strategic objectives while optimizing
resource allocation, project portfolio management (PPM) offers structured frameworks for
managing multiple projects. The swift advances in technology and the rising implementation
of new technologies, including AI, IoT, and blockchain are also pushing the need
for digital transformation projects. To that end, the growing focus of
organizations on efficient project management investments and coordination
practices for achieving strategic objectives and staying competitive will
define the industry expansion.

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Demand for
cloud-deployed project portfolio management is expected to exponentially expand
through 2032. The popularity of remote working instigated by the COVID-19
pandemic has contributed to significant adoption of cloud-based tools as they
are well-suited for distributed teams, enabling them to collaborate together on
projects irrespective of their physical location. With the help of internet-enabled
devices, cloud PPM also supports stakeholders in accessing project portfolio
information at any time, from anywhere. The incessant need to adapt as well as
respond to the ever-present technology advancements will also foster the
segment expansion.

Project portfolio
management industry size from the SMEs segment generated substantial revenue in
2022 and will significantly grow through 2032. The growth can be attributed to
the rising importance for making informed decisions regarding project
selection for ensuring optimal resource utilization across the portfolio. The growing
concerns of limited resources in SMEs has stirred the need for carefully
prioritizing projects and enhancing resource allocation, adding to the
preference for project portfolio management to provide structured
framework to evaluate projects based on potential benefits, risks, and resource
requirements.

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Europe held significant share of the project
portfolio management market in 2022 and is estimated to record USD 2.8 billion
by 2032 driven by the rising rollout of digital transformation initiatives. To
cite an instance, in December 2022, the EU invested more than €4.5 billion for
the 2023-24 Horizon Europe work programme as part of its goals for digital
transformation. The strong emphasis on innovation in the region has led to
numerous R&D investments by several organizations. Furthermore, the increasing
project complexity along with the surging need for strategic alignment are
other factors driving the regional market expansion.

Partial chapters of report table of contents
(TOC):

Chapter 2   Executive Summary

2.1    Project
portfolio management market 360º synopsis, 2018 - 2032.

2.2    Business
trends

2.2.1    Total
Addressable Market (TAM), 2023-2032

2.3    Regional
trends

2.4    Component
trends

2.5   
Deployment mode trends

2.6   
Organization size trends

2.7    Industry
vertical trends

Chapter 3   Project portfolio management
Market Industry Insights

3.1    Impact on
COVID-19

3.2    Russia-
Ukraine war impact

3.3    Industry
ecosystem analysis

3.4    Vendor
matrix

3.5    Profit
margin analysis

3.6    Type
& innovation landscape

3.7    Patent
analysis

3.8    Key news
and initiatives

3.9   
Regulatory landscape

3.10    Impact
forces

3.10.1    Growth
drivers

3.10.1.1   
Increasing complexities of projects

3.10.1.2   
Increasing demand for resource optimization

3.10.1.3   
Growing adoption of agile and hybrid project management

3.10.1.4   
Advancements in PPM software and technology

3.10.1.5   
Rising focus of organizations on return on investment

3.10.2   
Industry pitfalls & challenges

3.10.2.1    Lack
of organizational commitment

3.11    Growth
potential analysis

3.12    Porter’s
analysis

3.13    PESTEL
analysis

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