TECH SUPPLIER Jul 2019 - Market Share - Doc # US43883519

Worldwide Project and Portfolio Management Software Market Shares, 2018: Evolving and Scaling Agile Execution for Projects and Programs

By: Melinda-Carol BallouResearch Director, Agile ALM, Quality & Portfolio Strategies

Abstract

This IDC study provides 2018 market share for the worldwide project and portfolio management (PPM) market, which grew 7.0% to $4.33 billion in 2018 with current IDC numbers (compared with growth of 4.1% to $4.05 billion in 2017). We expect the market to grow at a CAGR of 5.9% over the course of a five-year forecast to reach $5.78 billion by 2023. We also see significant uptake of PPM in the cloud, which will continue through the 2019–2023 forecast period. This growth was noteworthy in an emerging 2018 to 1H19 market. Decision making in volatile financial environments demands effective prioritization, and we saw some revenue growth from major and key innovative smaller PPM vendors in 2018, with a few exceptions. The increasing role and complexity of sourcing for projects, programs, and portfolios in the enterprise and the need to align with business needs, corporate governance, and regulatory requirements have combined to retain growth for PPM as the global economy shifts with higher engagement and remains in flux with volatile worldwide politics.

"Global 2000 organizations continue to struggle with the complexity of project, program, and product delivery while seeking to manage economic and political volatility as operational and business needs change dynamically. Agile management of human, financial, and other resources is key. In response, demand will remain ongoing for PPM tools across the PPM segments ranging from IT PPM, service resource planning, and new product development to capital projects and engineering and construction, with intuitive workforce management complementing demand for enterprise capability. Smaller vendors and emerging intuitive work management will play a key role in product and market innovation, and differentiated PPM solutions will come into play in that context as further consolidation and product evolution occurs. We therefore expect a solid CAGR for this relatively mature market of 5.9% for the 2018–2023 period," says Melinda Ballou, research director for IDC's Agile ALM, Quality, and Portfolio Strategies service.


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