Project Portfolio Management Market Future Prospects
The global project portfolio management market size is valued at an estimated USD 5,303.6 million in 2024, and it is expected to reach USD 7,911.0 million by 2030, advancing at a CAGR of 6.9% during 2024–2030. The market is driven by gaining a 360-degree view into project operations and resource management, increasing complexity of enterprise projects, and rising need for collaboration and monitoring tools.
The digital revolution has had a significant impact on every element of modern businesses. The blurring of boundaries between the IT functions and areas previously regarded as more important to a company, such as strategies and operations, is perhaps one of the most significant transformations. This shift has forced corporate leaders to break out of their boundaries, compelling them to widen their own skills, capabilities, and understanding, as well as their teams. Hence, as a result of the new digital reality, PPM has evolved, like other areas.
In Europe, the taxing complexity of businesses is encouraging the use of project portfolio management solutions with intelligent evaluation and prioritization capabilities. The solutions have seen an increase in demand for on-demand analytics as a result of the rising mobility firms in the U.K. The visibility of their reporting and resource maximizing capabilities are also credited for the surging demand for PPM solutions. Moreover, due to the enterprise operations mapping capabilities and improved delivery management, Germany is one of the leading exporting nations and is likely to boost the demand for project management solutions.