Project portfolio management (PPM) is an approach used by organizations to examine the likelihood of the project, available funds, risks associated, and expected outcomes. Today, most vendors in the PPM market are offering cloud-based solutions to gain maximum profits. Adoption of cloud deployment services in small and medium scale enterprises, and the penetration of connected devices in emerging economies are expected to boost the demand of PPM in the global market. The Project Portfolio Management research conducted by Brand Essence Research, published at Instant Tech News, discusses in detail about market size, growth spectrum, and latest trends characterizing the PPM industry landscape.
Key Highlights of the Report
According to the report, the advantages of PPM software such as time-tracking, precise billing services, monitoring, and analyzing current and projected projects are some of the factors that are accountable for the market’s growth. Furthermore, the low cost of PPM software is expected to fuel the market’s development and boost the rate of revenue generation.
The global market for PPM is currently witnessing a high level of competition among key players such as Microsoft Corporation, SAP SE, CA Technologies, Planview, Workfront, Inc., and Oracle Corporation.
North America is witnessing the highest market growth in PPM Software adoption, and this trend will continue to grow. Cloud-based PPM software for defense and aerospace division is gaining recognition in Asia Pacific countries such as China, India, and Japan. Furthermore, the report reveals mechanical computer-aided design (MCAD) and other project precise software are witnessing rapid growth in countries such as the US and Canada. The rise of small and medium enterprises will boost the demand for effective PPM solutions in the future, says the report.
The key players are focusing on the expansion of the product portfolio, which will help them in reaching out to many consumers worldwide. Additionally, the key players are spreading awareness among consumers regarding the advantages of adopting the PPM. This will certainly boost the demand for PPM products. The report also offers global sales and revenue forecasts for all years of the forecast period. To read the report click on https://www.instanttechnews.com/technology-news/2020/02/25/project-portfolio-management-ppm-market-size-research-study-including-growth-factors-types-and-application-to-2025/