Where will your Project Management Software be in the next 5 years?
The Project Portfolio Management Software Market will be worth approximately $3.9 Billion by 2019!
So who says Project Management isn’t still trendy?
According to a new report, sales of PPM software is set to grow from $2.3 billion in 2014 to just shy of $4 billion in 2019. It is anticipated that North America will be the biggest market implementing PPM software (Virtual Strategy Magazine). The force behind the global growth of PPM is cost-effective cloud solutions, especially for small businesses making it easier for users to handle complex tasks and larger amounts of data.
So where did this forecast come from?
Market research firm MarketsandMarkets just published a report on Project Portfolio Management Software Market by Platform – Global Forecast to 2019, was published last month.
OK – so what does this mean to you?
It means that:
- you’ll likely be using a cloud-based PPM solution by 2019, no more desktop apps
- a larger market leads to better competition between software companies – and THAT means better, more innovative products are on the way
- the Project Management software industry will surely remain competitive as new niche companies entering the market will offer more creative and innovative integrated software which will give the established companies a run for their money.
The established players are well-known:
- Oracle
- CA Technologies
- Microsoft
- Planview
- HP
- SAP
- Changepoint
- Innotas
- AtTask
But keep an eye out for up-and-comers cloud services like ProjectManagement.com, Wrike, EPMLive.
For more details of the PPM software market growth, industry trends and the scope of this report check out MarketsandMarkets.com and Virtual Strategy Magazine.
