A new market study, “Project Portfolio Management (PPM) Software Market By Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
PUNE, MAHARASHTRA, INDIA, December 3, 2019 /EINPresswire.com/ —
Project Portfolio Management (PPM) Software Market – 2019-2025
The project management software market is expected to register a CAGR of 10.17% during the forecast period (2019 – 2025). As today's corporations increase in size and complexity, an all-inclusive solution is needed to manage and coordinate an entire organization's portfolio of different projects. These solutions help the management to shuffle between plans, workload, budgets, and resources, carefully observe the project progress and report on delivery success.
Project management software (PMS) has now evolved into a strategic function of today's business due to the accelerating pace, technological advancements as well as the digital transformation and disruption happening across almost every industry Like jira portfolio, Gartner.
The PMS market is witnessing the presence of third-party technological and innovative accelerators that has given rise to new business models, engaging with customers and fulfilling their needs, and operationalizing business processes.
Project management today has also transformed into a means of new product development, owing to the emergence of the Internet of Things and the adoption of agile NPD, which has now merged with PMS and has led to the development of new firms like UMT360, GenSight, and Decision Lens in the field of enterprise product creation.
This report comes With PPM Software Market Research Projection By Technology, management, Services, Solution, Tool, Venture Capital Product, Application Forecast To 2025
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PPM Market | Portfolio Management Marketing | Gartner Project Management Software | Project And Portfolio Management Software | Project Portfolio Management Software Market Key Players:
Scope of the Report
Project management software is a software which is used for various purposes in a project, such as planning, scheduling, resource allocation, and change management. It allows project managers, stakeholders, and users to control costs and manage budgeting, quality management, and documentation and can also be used as an administration system.
This report provides comprehensive analysis of
Key market segments and sub-segments
Evolving market trends and dynamics
Changing supply and demand scenarios
Quantifying market opportunities through market sizing and market forecasting
Tracking current trends/opportunities/challenges
Opportunity mapping in terms of technological breakthroughs
Key Market Trends Of PPM Tool :
Oil and Gas Segment to Witness High Growth
Project management software enables the oil and gas industry to plan, implement, monitor progress, close, and evaluate oil and gas projects, be it for the present or the future scenario.
Moreover, due to the increasing complexity of the operations in the industry, there is a growing demand for project management software to properly optimize the utilization of resources, track the capital expenditure, expansion into new markets or for large oil and gas exploration, and production activities.
The software can also be implemented to manage and foresee risks associated with various projects which will enable cost reduction, increase productivity, and enhance the safety of the workforce.
The growing adoption of automation in the sector and the growth of a connected ecosystem in the oil and gas industry have further buoyed the adoption of PMS with the need for collaboration, mobility, workflow, and analytic functions.
With the rising oil production across the globe, it is evident that the need for fuel is rising and hence will initiate new projects in the industry, which is further driving the project management software market in this segment.
North America Occupies the Largest Market Share
The North American region holds the largest market share due to the increasing number of enterprises adopting project management software solutions. The increasing demand among organizations to efficiently track and manage their projects is fueling this software demand in this region.
The usage of systems for task management for the successful execution of tasks and flexible work planning is anticipated to further drive the market in the coming years.
Additionally, the increased focus of organizations to promote collaborations among the workforce and boost the team’s efficiency is also driving market growth.
Moreover, the introduction of technologically advanced enterprise solutions by small players is likely to boost the market growth. For instance, Victory Square Technologies in December 2018 launched Tim a real-time resource management software, which is an AI-based solution.
The project management software market is very competitive in nature. The market is mildly concentrated because of the presence of many small and large players. The key strategies adopted by the major players are mergers and acquisitions and product innovation to stay ahead of the competition and to expand their global reach.
Customization of the Report
Value chain analysis
Consumer behavior analysis at country level
Table of Content: Project Portfolio Management (PPM) Software
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
11 Company Profiles
12 Future Forecast
13 Market Opportunities, Challenges, Risks and Influences Factors Analysis
14 Value Chain and Sales Channels Analysis
15 Research Findings and Conclusion
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Source: EIN Presswire