Project Portfolio Management Market Share

North American Market Forecast

North America is anticipated to account for 42% share of the global project portfolio management market by 2037. The rapid use of cutting-edge technologies like cloud computing, artificial intelligence (AI), and others is fuelling the expansion of the project portfolio management market in North America with 89% of companies using a multi-cloud approach. Organizations can manage their project portfolios with the help of cloud-based solutions, which is what is driving the industry. Similar to this, the market would grow as SMEs increasingly adopted cloud-based solutions. The industry's major players, including Oracle Corporation, Microsoft Corporation, Adobe (Workfront), Hewlett Packard Enterprise Development LP, Broadcom Inc., ATLASSIAN, Planview, Inc., and others, are concentrating on product launches and acquisitions, which are predicted to drive the market growth in the area.

APAC Market Statistics

Asia Pacific is expected to hold a significant market share by the end of 2037. The increased use of project management software in all types of organizations is responsible for the market's expansion. Additionally, throughout the forecast period, rising demand for cloud-based infrastructure is anticipated to fuel market expansion. According to a recent ranking, Singapore has the highest potential for innovation and business environment, scoring almost 65% out of 100% in 2021. Additionally, the demand for project management software in the IT sector of the Asia Pacific region is expected to increase significantly over the forecast period. For example, it is expected that IT services in the region will fall to about USD 200 billion by 2023.