Project Portfolio Management (PPM) Market

The project portfolio management market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period, from USD 7.8 billion in 2024 to USD 13.7 billion in 2029. The project portfolio management market is being induced by the ability to deliver better project visibility, resource optimization, and superior decision-making through a single visibility platform for the governance of several projects efficiently.

Major vendors in this market are in North America and Europe. Oracle, Smartsheet, Microsoft, Asana, and ServiceNow are among the leading project portfolio management market players. These firms have implemented a variety of growth tactics to increase their market position. These can include product launches, contracts, collaborations, mergers & acquisitions, and geographical expansion through new product development efforts.

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Oracle

Oracle is an international corporation that deals in the development of software for database, cloud-based products, and software solutions for enterprises. The company is best known for its Oracle Database and Oracle Cloud Infrastructure and has diverse operations, from enterprise resource planning to customer experience and human capital management. It has a complete stack of PPM solutions primarily in the driving seat under its Oracle Primavera and Oracle Cloud offerings. On the other hand, Oracle Cloud facilitates rich functionalities in project planning, budgeting, resource management, collaboration tools, and real-time performance insights. Now, after it has been dramatically infused with specialization from Oracle, Primavera comes with advanced features for project scheduling, planning, resource management, and risk analysis for the construction and engineering sectors. In addition, seamless collaboration, as provided by its integration with cloud-based platforms, ensures project data is accessible from anywhere to improve a project's decision-making and operational efficiency. Currently, its PPM solutions are used by many customers across over 175 countries, including those in sectors like construction, engineering, manufacturing, health care, finance, and the public sector. Large organizations employ Oracle's PPM solutions to manage complex projects, optimize resources, and ensure timely completion.

Smartsheet

Organizations worldwide utilize Smartsheet as a platform for project management and automation. Smartsheet is recognized for its intuitive interface and blends the versatility of spreadsheets with powerful project management capabilities, catering to small teams and large corporations in different sectors. The interface features consist of Gantt charts to visually display project timelines, collaboration tools for instant teamwork, automated workflow management, and customizable reporting for monitoring project progress and results. Smartsheet's PPM tool improves project planning, execution, and teamwork by prioritizing projects according to strategic alignment and resource availability. The centralized reporting and dashboards provided by the company enhance decision-making and efficiency. It caters to various industries like technology, healthcare, construction, and manufacturing for project scheduling, resource distribution, portfolio supervision, and compliance documentation, promoting efficient collaboration and openness during the project's duration.

Related Reports:

Project Portfolio Management (PPM) Market by Application (Project Planning & Management, Strategic Portfolio Management, Budget & Financial Management, Resource & Capacity Optimization, Reporting & Analytics) - Global Forecast to 2029

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