Project Portfolio Management (PPM) Market Worth 4.63 Billion USD by 2020

PUNE, India, February 12, 2016 /PRNewswire/ --

According to a new market research report "Project Portfolio Management (PPM) Market by Platform Type (Software and Services), Deployment Type (On-Premises and Cloud), End User, Business Solutions, Industry Vertical, and Region - Global Forecast and Analysis to 2020", published by MarketsandMarkets, the PPM market size is estimated to grow from USD 2.52 Billion in 2015 to USD 4.63 Billion by 2020, at a CAGR of 12.9% from 2015 to 2020.

Browse 71 market data Tables and 49 Figures spread through 148 Pages and in-depth TOC on "Project Portfolio Management (PPM) Market"

http://www.marketsandmarkets.com/Market-Reports/project-portfolio-management-software-market-225932595.html

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PPM software solutions and related services are being increasingly used by enterprises to optimize resource utilization and mitigate risks associated with specific projects. With the growth of Bring Your Own Device (BYOD), the PPM software market is expected to gain traction in the next five years, owing to the need to provide real-time updates about projects to the teams.

Expansive penetration of mobile devices to drive the PPM market 

The major forces driving the Project Portfolio Management Market include the widespread penetration of robust computing mobile devices among enterprises, escalating business optimization needs, increasing complexities within projects, and the growing popularity of cloud-based software. Enterprises are looking for PPM software solutions and services that can provide them real-time and dependable project updates for efficient accomplishment of various projects. Furthermore, the emergence of cost-efficient cloud-based PPM software is boosting the growth of the PPM software market among Small and Medium Enterprises (SMEs) that have constraints in adopting expensive solutions.

NPD solution to play a key role in the PPM software market 

The IT solution segment of the Project Portfolio Management Market is expected to hold the largest market share owing to the widespread need for enterprise software products to meet the dynamic needs of businesses due to technological shifts, whereas the New Product Development (NPD) solution segment is expected to play a key role in changing the PPM software market landscape during the forecast period.