Latest News- Project Portfolio Management (PPM) Software Market: On-premises is expected to lead the Deployment segment during 2025-2029

The Project Portfolio Management (PPM) Software Market is being driven by Increasing need for large-scale project management

The Project Portfolio Management (PPM) Software Market is expected to grow at a CAGR of 16% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4785.5 million. In the Project Portfolio Management (PPM) software market, the implementation of lean management principles is gaining traction. The primary objective of integrating lean management into PPM is to eradicate resource waste within project portfolios and maximize the productive use of resources. Lean management serves as an internal program, minimizing waste in project management plans and IT project portfolios. By adopting lean management practices, PPM software is anticipated to enhance functionality and streamline processes, ultimately leading to improved resource utilization and optimized project outcomes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud-based
• End-user
  • BFSI
  • Information and technology
  • Healthcare
  • Construction and infrastructure
  • Others
• Platform
  • Software
  • Services
• Sector
  • Large enterprise
  • SMEs
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing need for large-scale project management
• Growing demand for mobile PPM solutions
• Rising demand for cost management

However, the market also witnesses some limitations, which are as follows:

• Challenges from open-source platforms
• High implementation and operating costs
• Cyber security-related threats

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Market Scope in Project Portfolio Management (PPM) Software Market Research Report

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Research Analysis Overview

In the realm of Project Portfolio Management (PPM), optimization of projects is achieved through aligning resources with business objectives, enhancing maturity levels, and implementing various project management methodologies and frameworks. Utilizing project management tools, techniques, and processes, organizations can effectively manage projects throughout their lifecycle, adhering to standards and certifications. API integrations, cloud-based and on-premises solutions, data visualization, business intelligence, data analytics, workflow automation, and process optimization are essential features that facilitate efficient PPM.

Market Research Overview

Project Portfolio Management (PPM) software is a specialized application within the larger IT software market. This market encompasses companies producing both system and application software, with the application software sector focusing on solutions designed for business or consumer use. PPM software specifically addresses the needs of organizations in effectively managing their project portfolios, which includes resource allocation, project planning, and risk mitigation. According to Technavio, the global IT software market size is determined by the consolidated revenue of all IT software providers, including those offering cloud-based PPM solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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