Industrial, Manufacturing & Heavy Industry Market News

APAC project portfolio management market worth 1,352.8 million USD by 2022 according to new research report

Industrial Market Research

APAC project portfolio management arket categorizes the global market by type as software and service, by application as portfolio management, financial management, resource management, by deployment, by organization size, by vertical and by country.

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The report "APAC Project Portfolio Management Market  by Type (Software and Service), Application (Portfolio Management, Financial Management, Resource Management), Deployment, Organization Size, Vertical and Country - Forecast to 2022", The global APAC PPM market size is expected to grow from USD 586.9 Million in 2017 to USD 1,352.8 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 18.2%. The demand for PPM software and services in APAC is driven by various factors, including huge infrastructure development, need for optimum resource utilization and cost management, proliferation of startups, and rapid generation of complex data volumes.

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Integration and deployment services segment is expected to grow at the highest CAGR during the forecast period.

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The integration and deployment services segment provides end-to-end enterprise support, which is the main reason for its higher adoption. Integration and deployment services are gaining traction in the APAC PPM market, as they helps organization in identifying the project scope; designing the plan layout; optimizing data quality and delivery through testing, building, and deploying customizable designs suiting the organizational business needs; and assisting trained professionals in facilitating the smooth installation of PPM software.

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Resource management application is expected to witness the highest CAGR during the forecast period.

Resource management consists of planning, allocating, and scheduling of resources to tasks. Resources include manpower, systems, money, and materials.

They mainly comprise financial resources, inventory, employees, production resources, and IT. Effective resource management optimizes organizational efficiency, minimizes idle time, and improves project execution.

Proactive resource management delivers paramount level of optimization and efficiency by enabling optimum allocation of resources, based on business requirements. The need for resource management is expected to grow in the near future, due to benefits such as better resource utilization, improved profits, and minimized unavailability of resources.

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