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Market research analysts at Technavio have predicted that the global PPM and IT governance market will grow steadily at a CAGR of more than 11% by 2020. This market research analysis identifies the need to optimize project management process as one of the primary growth factors for this market. Enterprises across the globe are constantly working to improve their overall efficiency through capacity optimization, reduction in operational costs, and driving profits using IT infrastructure. PPM and analytics software helps in enhancing an organization’s processes by improving quality and resource control, which in turn, results in improving the overall productivity and efficiency of the enterprise. Project portfolio management software also helps organizations meet their business demands rapidly and remain competitive in the market, which will compel several organizations to deploy PPM software at their facilities in the coming years.
Information management comes as one of the key aspects of project management and managers often have to collect and analyze a lot of information regarding ongoing projects. Virtual reality solutions such as augmented reality can be used in project management systems. Augmented reality technologies are currently employed in construction-related projects to view projects status in a real-time environment. They can provide real-time information in the form of text and 3D or 4D images and can also be used for information management of a portfolio of various projects.
Characterized by the presence of a wide range of PPM vendors, the competition among vendors in the market is fierce. The coming years will witness the entry of several new vendors and this will likely to intensify the level of competition further as vendors will equally compete to win new contracts from targeted PPM consumers. Competitive pricing and acquisitions are the common marketing strategies followed by vendors to maximize their market shares.
The leading vendors in the market are -
The other prominent vendors in the market are AtTask, Clarizen, Changepoint, Daptiv, EPM Live, GenSight, InLoox, INNOTAS, Leankit, Planisware, Planview, SAP, and Sciforma.
Due to their to robust IT security features, the on-premise PPM and IT governance market segment accounted for more than 67% of the total shares of the market and dominated the industry during 2015. These solutions are installed on the IT system through software licensing pricing type, and they require high upfront costs. The on-premises solutions are safe and secure in terms of data privacy and security and is the primary reason for several organizations not preferring the shift from on-premise to SaaS-based PPM solutions.
This market study estimates that accounting for almost 57% of the total shares of the market; the Americas dominated the global PPM and IT governance industry during 2015. Much of this growth can be attributed to the presence of leading vendors in the region. These vendors have a strong client base in the domestic and international PPM and IT governance market. Moreover, stringent IT governance regulations introduced by the federal government in the US will induce more organizations to follow the IT governance guidelines in PPM systems in the coming years; thus, augmenting the growth of the market.
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Project Portfolio Management (PPM) is the complete management of the processes, methods, and technologies used by project managers and project management offices (PMOs). This is done to analyze and collectively manage current or proposed projects based on several essential characteristics. Enterprise IT management software solutions help enterprises manage complex businesses across industry verticals. Evolving market dynamics and the rapid adoption of innovative IT solutions have boosted the demand for software solutions worldwide. Similarly, project portfolio and management analytics solutions help users manage projects across numerous industry verticals. PPM and analytics solutions simplify the decision-making process for the project management office (PMO) and also enhance the visibility of the entire project management lifecycle.
The report, global PPM and IT governance market is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by IT deployment model
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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