This IDC study provides a 2014 share and analysis for the worldwide project and portfolio management (PPM) market, which grew 3.8% to $3.7 billion in 2014 with current, revised IDC PPM numbers (compared with the growth of 3.7% to $3.5 billion in 2013). We expect the market to grow to $4.9 billion by 2019 (based on current IDC PPM market numbers) with a CAGR of 5.8%. This growth was significant in an emerging 2014 market.
"Agile and service management vendors have been leveraging PPM through alliances, integration, and/or acquisitions. This continued to have an impact in 2014 and will play a role in market growth for 2015-2016," said Melinda Ballou, program director for Application Life-Cycle Management and Executive Strategies Service at IDC. "Indeed, we have seen several acquisitions of synergistic products in ALM and PPM areas in 3Q15 alone. We expect PPM, in that time frame, to also play a role increasingly with new product development (NPD) and the evolving Internet of Things (IoT) arena as well as governance for DevOps as organizations must increasingly coordinate software deployment from inception to deployment and service management (with an increasing range of platforms on which to deploy, from mobile, social, and cloud to 'things'). 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 and swirl 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 through to capital projects and engineering and construction. Smaller vendors 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.
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