Technavio Announces the Publication of its Research Report Global PPM and IT Governance Market 2016-2020
Technavio recognizes the following companies as the key players in the global PPM and IT governance market: CA Technologies, HPE, Microsoft, Oracle, and Planview.
Other Prominent Vendors in the market are: AtTask, Clarizen, Changepoint, Daptiv, EPM Live, GenSight, InLoox, INNOTAS, Leankit, Planisware, SAP, and Sciforma.
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Commenting on the report, an analyst from Technavios team said: One of the key trends for market growth will be emergence of augmented reality. Information management is one of the key aspects of project management. Project managers often have to collect and analyze lot of information about ongoing projects for their scheduled completion. Virtual reality solutions, such as augmented reality, are gradually finding their way in project management systems. At present, augmented reality technologies have been used in construction-related projects to visualize the projects status in a real time environment. Augmented reality devices and applications provide real time information in the form of text and 3D or 4D images about on-going real-estate projects. Augmented reality solutions can also be used for information management of a portfolio of various projects.
According to the report, increased adoption of risk management practices will be a key driver for market growth. Risk management practices identify possible threats that may hamper the successful completion of projects. The use of risk management planning techniques helps organizations control negative outcomes in the entire development life cycle of projects. Some of the common risks during the project development phase include high opportunity costs, lack of project visibility, unexpected project delays, and sub-par leadership and governance.
Further, the report states that one of the major challenges for the market will be extended implementation time. Vendors face challenges in selling PPM software solutions because of lengthy sales cycles. It also takes longer time to implement on-premise software solutions. The challenge is specific to on-premise implementation of PPM software solutions. PPM software solutions undergo a complex and time-consuming testing process prior to integration with the end user’s business processes. This raises the marketing expenses arising from product acceptance and persuasion. Vendors need to have a basic understanding of ongoing client projects, integration of existing PPM tools with the new software, and conduct testing before winning final approval from buyers. The implementation of PPM software solutions takes six months to one year, on average. Vendors can develop PPM software solutions using advanced software development methodology, such as DevOps, to reduce time-to-market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About PPM and IT Governance
PPM and IT governance solutions are helping organizations manage their projects with the help of advanced IT solutions, such as predictive analytics and augmented reality. Earlier, organizations were implementing separate solutions for IT governance and analytics for PPM. Vendors in the market have recognized the problems encountered by their clients while managing project portfolios through separate systems. Therefore, they have come up with the integrated PPM solutions, which include IT governance framework and analytics.
Technavios analysts forecast the global PPM and IT governance market to grow at a CAGR of 11.44% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global PPM and IT governance market for 2016-2020. To calculate the market size, the report considers the revenue generated from PPM and IT governance by vendors in the market has been considered.
The market is divided into the following segments based on geography:
Technavio’s report, Global PPM and IT Governance Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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