Global Portfolio Management Software Market by Component (Software & Services), By Deployment (On-Premises and Cloud-based), By Organization Size (Large Enterprises and Small & Medium Enterprises), By Vertical (BFSI, Government, IT & Telecommunications, Manufacturing, Healthcare, Retail & Others) and by Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022-2030
Industry Prospective
The global Portfolio Management Software market size was worth around USD 4.78 Billion in 2021 and is predicted to grow around USD 7.26 Billion by 2030 with a compound annual growth rate of roughly 5.3% between 2022 and 2030. The report analyzes the global portfolio management software market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the portfolio management software market.
Global Portfolio Management Software Market: Overview
Portfolio management is the act of constructing and monitoring a selection of investments to fulfill investors' long-term financial objectives and risk tolerance. Active portfolio management requires the strategic purchase and sale of stocks and other assets in an attempt to outperform the market as a whole. A large number of individuals face several obstacles in managing their finances and investments. These hurdles are easily overcome using portfolio management software, which assists businesses in managing complex and frequently concurrent projects. The vast majority of traders and investment managers use this technology to monitor and optimize the performance of their clients' investments.
This software allows an organization to centrally manage several projects under one umbrella. The software facilitates the management and coordination of all project aspects. The system provides important data via interactive dashboards to ensure that the number of selected and completed projects meets organizational objectives. As a result, this software is becoming increasingly popular across all industries, as it supports businesses in achieving their strategic business objectives.
Additionally, these solutions are in great demand due to the increasing desire for a 360-degree view of the entire project lifecycle. Utilizing cloud-based services for remote portfolio monitoring is anticipated to stimulate market growth.
Remote working and digitization are likely to aid in several sectors including government, engineering, construction, healthcare, BFSI, and IT & telecommunications. In a dynamic and hypercompetitive business environment, these technologies enable small vendors to make quicker and more informed decisions.
SaaS PPM can also be integrated with existing business process management systems to extend the capabilities of a single solution. As a result, the solutions contribute significantly to its acceptance. In addition, the cooperation between software and application lifecycle management systems is anticipated to stimulate market growth.
Key Insights
- As per the analysis shared by our analyst team, the global portfolio management software market is estimated to grow annually at a CAGR of around 5.3% over the forecast period (2022-2030).
- In terms of revenue, the global portfolio management software market size was valued at around USD 4.78 Billion in 2021 and is projected to reach USD 7.26 Billion, by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate
- Based on component, the software segment was predicted to show maximum market share in the year 2021
- Based on deployment, the cloud-based segment was the leading revenue-generating type in 2021
- On the basis of organization size, the large enterprises segment was projected to show largest share in the year 2021
- On the basis of vertical, the IT & telecommunications segment was dominating the market share in the year 2021
- On the basis of region, North America were the leading revenue generator in 2021
Increasing Adoption of Agile Practices Among Enterprises to Propel the Market Growth
The agile business model's emphasis on cross-functional and collaborative project management has made it a popular method for approaching these systems. The framework includes a collection of sample workflows that can help any company adopt agile and lean methods. Moreover, implementing an advanced portfolio management solution coupled with agile methodologies reduces project completion times by an average of 37%.
As a result, many businesses are shifting to a more agile approach to projects and portfolio management. Agile methods can be fine-tuned to meet the shifting demands of today's fast-paced digital economy. As a result, the adoption of agile methods is a key factor in the market's expansion.
Growing Demand for Cloud-based Solutions to Fuel Market Growth
The integration of cloud-based tools promises significant practical uses for businesses, such as remote access and monitoring, real-time data analytics, and automatic scheduling. In addition, the enhancements made to the cloud-based solutions, as well as the increasing reliance of advanced business and corporate operations on cloud technology, have prepared the way for the market to expand continuously during the forecast period.
Concerns Pertaining to Data Theft Hampering the Market Growth
The most significant organizational asset is data, which must be safeguarded from cyber threats. Organizations that adopt cutting-edge digital technology expose their corporate data to risk. Regardless of how well-prepared a company is to combat cybercriminals; it will always experience difficulty in overcoming these threats. Every innovation that promises to enhance corporate processes creates more entry points for hackers and cybercriminals by expanding the IT infrastructure. This is the primary factor preventing businesses from adopting cloud-based PPM systems. Small and Medium-Sized Businesses can simply gain access to the low-cost public cloud services (SMEs). However, these services are more susceptible to cyberattacks and security issues, and small businesses cannot afford a private cloud due to financial constraints.
Portfolio Management Software Market: Segmentation Analysis
Based on offering, the global market is segmented into software and services. The software dominates the market share owing to the huge adoption among enterprises.
On the basis of deployment, the market is bifurcated into on-premises and cloud-based. The cloud-based segment is dominating the market share owing to the growing usage of increasing demand for cloud-based software would increase due to its flexible pricing models, maintenance packages, simple upgradability, and easy accessibility. Due to its scalability, versatility, and low cost,
cloud-based solutions are also in high demand.
Based on organization size, the global market segments are large enterprises and small & medium enterprises. The large enterprises segment is dominating the market share owing to increasing prevalence of project management offices (PMOs) in large organizations is a significant factor pushing the usage of this software. Large organizations are lured to use advanced PPM systems by the possibility of completing several projects while maintaining their commercial competency.
Large organizations are also lured to deploy a centralized portfolio management platform by complicated workflows, an abundance of resources, and intensified competition. Consequently, the market is anticipated to be driven by the increasing need to manage business portfolios in order to achieve rapid expansion.
On the basis of vertical, the market is bifurcated into BFSI, government, IT & telecommunications & others. The IT & telecommunications driving is dominating the market share due to the growing develop advanced project and portfolio management solutions by intensifying corporate competition, shifting business requirements, and expanding business networks. The broad adoption of products in the IT and telecommunication industries is driven by the increasing need to manage resources and projects as business objectives evolve.
Recent Development
June 2022- Planview acquired Enrich to provide best-in-class simulation and analytics capabilities to customers.
December 2021- Planisware partnered with EOS Software to implement Integrated Technology Portfolio Management (ITPM) solution to offer best-in-class user experience and optimize their business technology portfolios.
January 2021- Planview acquired Changepoint & Clarizen, enterprise portfolio management providers, to provide customers with an unrivaled level of knowledge, intellectual property, and resources to ensure that their most critical outcomes are delivered with efficiency, promptness, and transparency.
Regional Landscape
North America is Dominating the Market Share
North America is dominating the market share of the global portfolio management software market owing to the rapid adoption of advanced technologies such as artificial intelligence (AI), cloud computing, and amongst others. Cloud-based solutions provide enterprises with robust processing and simple access to portfolio management software, thereby boosting the market growth.
Competitive Landscape
MProfit Software Private Limited, Sopheon Corporation, Upland Software, Inc., Planview, Inc., Microsoft, Oracle, Software AG, Planisware, One2Team, Hexagon AB, monday.com, Smartsheet Inc., Micro Focus, Broadcom, SAP SE, Cerri.com AG, Meisterplan, ServiceNow, amongst others.
The global Portfolio Management Software market is segmented as follows:
By Component
- Software
- Services
By Deployment
- On-Premises
- Cloud-based
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Vertical
- BFSI
- Government
- IT & Telecommunications
- Manufacturing
- Healthcare
- Retail
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Global Portfolio Management Software Market by
- October-2022
- 148
- Global
- information-technology-communication-iot
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