Growing Demand for Project Portfolio Management Market

Northbrook, IL, USA, 2020-Apr-15 —

The Project Portfolio Management Market is segmented by vertical, into energy and utilities, government and defense, Information Technology (IT) and telecom, Banking, Financial Services and Insurance (BFSI), manufacturing, healthcare and life sciences, consumer goods and retail, others (transportation and logistics, and marine and shipbuilding).

The healthcare and life sciences industry faces issues, such as inconsistent quality of data due to various complicated projects. Vendors offers the PPM solution to this sector for reducing the equipment installation time, improving patient care and quality, minimizing waiting time, decreasing re-admission rates, and accelerating Electronic Medical Records (EMR) automation, thereby optimizing revenue cycles.

The growing demand for cloud-based PPM solution to gain a 360-degree view on project operations and resource management, and to improve team collaboration are some major factors driving the growth of the the market.

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The high use can be attributed to the affordability and high scale economies, enabling large organizations to benefit from the adotion of the PPM solution. Large enterprises have left no stone unturned for competing in today’s cut-throat competitive industry and are constantly undertaking multiple projects to add new product lines or improve and replace existing products/processes.

Project-intensive organizations across verticals have realized the benefits of the PPM solution and have implemented it to simplify and automate various project operations, and effectively manage project lifecycle. The PPM solution offers organizations and managers with the ability to see the big picture, ensuring the use of best practices, solutions, principles, and standards during the project lifecycle.

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