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TMCNet:  Technavio Announces Top Three Emerging Trends Impacting the Global PPM Market Through 2019

[February 12, 2016]

Technavio Announces Top Three Emerging Trends Impacting the Global PPM Market Through 2019

Technavio's latest report on the global project portfolio management (PPM) market provides an analysis on the most important trends expected to impact the market outlook through 2019. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

PPM (News - Alert) technology: competencies and growth prospects

PPM software is a tool used to analyze and collectively manage multiple projects in an efficient manner, both in the process and proposed stages. It is a significant part of enterprise risk management and allows enterprises to obtain and view information about all available projects. "PPM enables organizations to prioritize and sort each project based on various parameters, such as the impact on resources and strategic value. It helps project management teams to add or remove items from the project execution process based on cost, benefits, and long-term effects," says Amrita Choudhury, a lead analyst from Technavio's IT professional services sector.

The global PPM market was valued at USD 1.91 billion in 2014 and is forecast to multiply to USD 3.36 billion by 2019. Factors such as an increased need for business optimization and the need to manage costs are expected to motivate market growth in the coming years. Industries such as BFSI, government, real estate, healthcare, and retail sectors among others have started to adopt PPM solutions to enhance overall productivity.

The top three emerging trends driving the global PPM market according to Technavio ICT research analysts are:

  • Adoption of agile practice
  • Rising adoption of mobile PPM
  • Increased demand for customizedsolutions




Adoption of agile practice

Agile (News - Alert) project management has been in demand in the IT industry for its efficiency. Unlike traditional methods, agile methodology allows organizations to have a flexible plan and can estimate cost and resource utilization. This helps in open-ended planning and designing, which will benefit projects where changes need to be made. It gives more flexibility to management, engineers, and technicians and allows them to overcome various project limitations.

"Agile project management has been in practice for over a decade and many companies other than those in the IT sector are now shifting toward this method. This is increasing the demand for SaaS (News - Alert)-based PPM solutions that support the agile methodology," says Amrita.

Rising adoption of mobile PPM

Mobile PPM has emerged as a major trend and has been increasingly adopted across enterprises. In addition, enterprises are implementing BYOD successfully, which means an increase in personal mobile devices. These devices need to be integrated with business applications and managed, which has increased the demand for mobile PPM solutions. By the end of the forecast period mobile PPM is expected to be a major contributor to the growth of the global PPM market.

Increased demand for customized solutions

Organizations are demanding customized PPM solutions to meet their business requirements. As single products cannot serve changing customer requirements, vendors are required to invest additional resources to customize their offerings. With more customization, PPM software development processes become more complex. Managing this upsurge in complexity could prove to be a challenge. However, it is necessary especially with the fact that customers prefer customization rather than an off-the-shelf solution.

Browse Related Reports:

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].


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