As per the report published by WiseGuyReports, the APAC project portfolio management market is anticipated to boost at a high growth rate during the forecast period. Growing complexities in the management of numerous projects and scrutinization of massive data have affected the operational efficiencies of organizations. Project portfolio management software is a solution to these problems which aids organizations in the enhancement of workspace efficiency and the optimization of all possessions including resources, finances, and time. —
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The project portfolio management tool helps in collaboration and tuning of tools, people, and cultures within a standard structure of the business. The project portfolio management (PPM) tool is primarily designed to provide organizations with higher visibility within the business processes. It also facilitates alignment of projects, objects of business as well as corporate strategies.
The APAC project portfolio management (PPM) software market is driven by a variety of factors. Rising complexities have led to higher demand and implementation of project portfolio management (PPM) software, fostering market growth. The emergence of trends like bring your own device (BYOD) and workforce mobility are contributing to higher adoption of project portfolio management (PPM) software in organizations. However, apprehensions regarding the installation and usage of PPM software, coupled with security concerns regarding SaaS-based PPM solutions are hindering the growth of the APAC project portfolio management (PPM) software market.
The APAC project portfolio management (PPM) software is segmented on the basis of type, application, and region. Based on type, the APAC project portfolio management (PPM) software is segmented into service and software. Based on application, the APAC project portfolio management (PPM) software is segmented into portfolio management, project management, financial management, demand management, risk management, time management, and resource management.
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Detailed Regional Analysis
The global APAC project portfolio management (PPM) software market is regionally segmented into the United States, Europe, China, Japan, India, Southeast Asia, and Central & South America. The United States accounted for the foremost share of the global APAC project portfolio management (PPM) software market at the beginning of the forecast period. The region is also anticipated to witness fast-paced growth during the forecast period. Regions that are a part of the APAC, namely, China, India, Japan, and Southeast Asia, together, are expected to set on an impressive growth trajectory for project portfolio management (PPM) software, over the assessment period.
At the moment, organizations prevalent in the market are more focused on solving the complexity through the deployment of PPM solutions. It has also been observed that many companies which have already implemented PPM solutions are facing problems in understanding the relevancy and utilization of such software, post-implementation. Moreover, integration of social media with PPM solutions and an upscaling demand for agile and highly responsive PPM tools is anticipated to create potential expansion opportunities for the players.
Some notable vendors present in the global APAC project portfolio management (PPM) software market include Upland Software, Inc. (US), Planview, Inc. (US), Planisware S.A.S. (US), Oracle Corporation (US), Software AG (Germany), SAP SE (Germany), Microsoft Corporation (US), Changepoint Corporation (US), CA Technologies (US), Hewlett Packard Enterprise Company (US), Clarizen (US), and ServiceNow, Inc. (US).
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