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Project Portfolio Management Market Size Growing at 12.6% CAGR, Set to Reach USD 16,777 Million By 2030

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TOKYO, Feb. 02, 2023 (GLOBE NEWSWIRE) — The Global Project Portfolio Management Market Size accounted for USD 5,841 Million in 2021 and is estimated to achieve a market size of USD 16,770 Million by 2030 growing at a CAGR of 12.6% from 2022 to 2030.

Project Portfolio Management Market Overview

Project Portfolio Management (PPM) is a solution which is used in managing a company’s portfolio of projects to align with its strategic objectives and optimize resource allocation. The Project Portfolio Management market size has grown significantly in recent years, driven by the increasing demand for effective project management solutions across various industries.

PPM solutions enable organizations to prioritize, allocate, and manage resources more effectively, resulting in improved project delivery and better overall business performance. PPM tools offer a range of features, including project planning and scheduling, risk management, resource allocation, and project tracking and reporting. PPM market size is growing rapidly, with organizations of all sizes and across all industries recognizing the benefits of using PPM solutions. The market for project portfolio management is expected to continue to grow as organizations seek to improve their project delivery and overall business performance.

One of the key applications of Project Portfolio Management can be seen in the IT industry, where it is used to manage and prioritize the delivery of software development projects. PPM is also widely used in engineering, construction as well as in consulting firms to manage multiple projects and allocate resources effectively.

Another unique application of PPM is in the pharmaceutical industry, where it is used to manage the research and development of new drugs. This includes tracking the progress of clinical trials, allocating resources to research teams, and managing the approval process with regulatory agencies.

PPM is also progressively being used in the finance industry, where it is used to manage complex portfolios of financial products, including stocks, bonds, and derivatives. This allows financial institutions to optimize their portfolios and minimize risk while maximizing returns.

NGOs and charities also use project portfolio management to manage their program portfolio and allocate resources effectively. This enables them to achieve their mission and goals more efficiently and effectively.

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Project Portfolio Management Market Report Coverage:

Market Project Portfolio Management Market
Project Portfolio Management Market Size 2021 USD 5,841 Million
Project Portfolio Management Market Forecast 2030 USD 16,770 Million
Project Portfolio Management Market CAGR During 2022 – 2030 12.6%  
Project Portfolio Management Market Analysis Period 2018 – 2030
Project Portfolio Management Market Base Year 2021  
Project Portfolio Management Market Forecast Data 2022 – 2030
Segments Covered By Offering, By Revenue, By Enterprise Size, By End-Use, And By Geography
Project Portfolio Management Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Oracle, Microsoft Corporation, Celoxis Technologies Pvt. Ltd., Planview, Changepoint Corporation, Broadcom Corporation, HP Development Company, SAP SE, Workfront, and ServiceNow.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Project Portfolio Management Market Highlights and Statistics

  • The global Project portfolio management market size in 2021 stood at USD 5.841 Billion and is set to reach USD 16.77 Billion by 2030, growing at a CAGR of 12.6%
  • Increasing need for effective project management and resource allocation in organizations of all sizes and across all industries are some of the reasons why the PPM market size is growing.
  • Major players in the project portfolio management market include Microsoft, Oracle, Planisware, CA Technologies, and HP.
  • PPM solutions are offered through cloud-based and on-premises deployment models. The cloud-based deployment model shall be seeing the fastest growth due to its ease of use and accessibility.
  • End-user industries: The IT industry is the largest adopter of PPM solutions. The construction, engineering, and consulting firms also have a good demand for project portfolio management market. The pharmaceutical, finance, and non-profit sectors are also growing adopters of PPM.
  • The use of PPM solutions has the capability to improve project delivery, better resource allocation, and increased overall business performance.
  • Some challenges faced by organizations implementing PPM include resistance to change, lack of skilled employees, and integration with existing systems.

Trends in the Project Portfolio Management Market

Focus on providing good quality User Experience: PPM solution providers are placing a greater emphasis on user experience, with the development of intuitive and user-friendly interfaces.

Increased Adoption by SMEs: Small and medium-sized enterprises (SMEs) are increasingly adopting PPM solutions, as they seek to improve their project delivery and compete with larger organizations.

Integration with Artificial Intelligence and Machine Learning technologies: PPM solutions are increasingly incorporating AI and ML technologies to automate processes and provide advanced analytics and insights.

Integration with Other Tools: PPM solutions are being integrated with other tools such as project management, resource planning, and financial management systems to provide a comprehensive solution.

Real-time Analytics and Reporting: PPM solutions are offering real-time analytics and reporting capabilities to provide organizations with real-time insights into their projects and portfolios.

Greater Collaboration and Communication: PPM solutions are enabling greater collaboration and communication between project teams and stakeholders, resulting in improved project delivery.

Emphasis on Portfolio Optimization: PPM solutions are focusing on portfolio optimization, helping organizations prioritize and allocate resources to their most strategic projects.

Increasing Demand for Mobile Access: The demand for mobile access to PPM solutions is growing, as organizations seek to manage their projects on-the-go.

Project Portfolio Management Market Dynamics

  • High demand for efficient Project Management: Organizations across various industries are realizing the importance of effective project management and are seeking solutions that can help them manage their portfolios of projects more efficiently.
  • Growing Complexity of Projects: With the increasing complexity of projects, organizations are looking for solutions that can help them better manage project risks, resources, and timelines.
  • Adoption of Agile Methodologies: The growing adoption of agile methodologies, which emphasize flexibility and collaboration, has led to a higher demand for PPM solutions that can support agile project management.
  • Improved need for resource allocation: Organizations are seeking solutions that can help them allocate resources more effectively, resulting in improved project delivery and overall business performance.
  • Cloud technology acceptance: The emergence of cloud technology has made it easier for organizations to adopt PPM solutions, as cloud-based solutions offer scalability, flexibility, and lower upfront costs.
  • Rising Importance of Data Analytics: The increasing importance of data analytics in project management has led to a higher demand for PPM solutions that can provide data-driven insights and help organizations make better decisions.
  • Growing Importance of Compliance: The growing importance of compliance with regulatory requirements, such as Sarbanes-Oxley and GDPR, has led to a higher demand for PPM solutions that can help organizations meet these requirements.

Project Portfolio Management Market Growth Hampering Factors

  • Complex User Interfaces: Some PPM solutions have complex user interfaces, which can be difficult to use and may discourage adoption.
  • Inadequate Training: Organizations may not provide adequate training to their employees on how to use PPM solutions, which can result in limited adoption and ineffective usage.
  • Customization Limitations: Some PPM solutions may not offer customization options, which can limit their effectiveness for organizations with specific requirements.
  • Incomplete Integration of existing data systems with PPM solutions can lead to data inaccuracies, hindering the effectiveness of these solutions.
  • Limited Scalability: Some PPM solutions may not be scalable, making it difficult for organizations to expand their usage as their needs change.
  • Reluctance of some organizations to adopt new technologies including PPM solutions, resulting in limited adoption.
  • Inadequate Support: Some PPM solutions may not offer adequate support, making it difficult for organizations to resolve issues and effectively use these solutions.
  • Lack of Integration with Other Tools: Some PPM solutions may not integrate well with other tools and processes, making it difficult for organizations to fully utilize these solutions.

Check the detailed table of contents of the report @

https://www.acumenresearchandconsulting.com/table-of-content/project-portfolio-management-ppm-market

Market Segmentation

  • By Offering
  • Service
  • Software

By Deployment Models

  • On Premise
  • Cloud

By Enterprise Size

  • Large Enterprise
  • SMEs

Project Portfolio Management Market Overview By Region

North America: North America has the largest project portfolio management market share. The region is home to major players in the IT industry, which drives the adoption of PPM solutions. Additionally, the presence of several leading IT consulting firms in North America further fuels the growth of the PPM market share in the region.

Europe: Europe has the second-largest project portfolio management market, with a growing demand for these solutions among organizations in the region. Europe has a thriving construction and engineering industry, which drives the demand for PPM solutions in the region.

Asia-Pacific: Asia-Pacific has the fastest growing project portfolio management market share amongst all other regions, with countries like India and China experiencing a high demand for these solutions. The IT and software development industries in Asia-Pacific are thriving, driven by the demand for PPM solutions in the region. India also has a robust IT industry as well as a highly skilled population of software engineers.

The MEA and Latin American regional growing project portfolio management market share is growing at a good enough pace due to demand for these solutions among organizations in the region. The construction and engineering industries in Latin America are growing, driving the demand for PPM solutions in the region.

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Project Portfolio Management Market Key Players

Microsoft, CA Technologies, Planview, Deltek, Oracle, SAP, Innotas, HP, Planisware, and EasyVista. Other players in the market include Clarizen, Wrike, Asana, CollabNet, EasyVista Inc., ProjecTools, LLC, Daptiv and Workfront.

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About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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