Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 8.29 Billion | USD 23.03 Billion | 10.76% | 2024 |
The global project management software market size was worth around USD 8.29 Billion in 2024 and is predicted to grow to around USD 23.03 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 10.76% between 2025 and 2034. The report analyzes the global project management software market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the project management software industry.
The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investors and stakeholder space to help companies make data-driven decisions.
Project management software effectively handles the work of group members and schedules the order of projects they are handling. With corporations increasing in size and complexity, it is necessary for an all-inclusive solution for managing and coordinating the portfolio of various projects of an organization. Moreover, project management software helps in effectively managing and shuffling between various plans, budgets, workloads, and resources along with observing the progress of the project. In addition to this, project management software has emerged as a strategic function of current business owing to the accelerating pace, technological breakthroughs, online transformations, and disruptions taking place across the industry.
Escalating demand for software that helps in reducing project risks & costs to bolster the global market expansion
The expansion of the global project management software market can be attributed to aspects such as the surging use of software in effectively managing resources and escalating demand for software which helps in minimizing project risks & costs. On the other hand, the addition of new features to the product such as reminders and setting of due dates are projected to promote the growth of business during the anticipated period. Furthermore, the ability of project management software in integrating many disparate systems will boost global market trends.
Growing maintenance costs to impede the global market expansion
Surging deployment costs of setting up project management software along with escalating costs of maintenance are preventing the firms from investing in the manufacture of project management software, thereby slowing the expansion of the global project management software industry.
Escalating awareness pertaining to the large-scale use of products by end-users to create new opportunities for growth for the global market
Growing awareness about the product among the end-users is predicted to open new growth opportunities for the global project management software industry in the ensuing years. The emergence of connected things and the use of agile NPD will open new facades of growth for the global market.
Slow industry penetration owing to humungous costs can pose a challenge to the growth of the global industry
Slow market penetration due to huge product costs will pose a massive challenge to the growth of the global project management software industry. Large-scale use of project management software requires a large number of technology suppliers and these result in high costs, thereby posing a huge challenge to the expansion of the business.
The global project management software market is divided into deployment type, end-user, and region.
In terms of deployment type, the global project management software industry is segmented into on-premise and cloud segments. Moreover, the on-premise segment, which accounted for the global industry share in 2021, is slated to demonstrate lucrative growth during the forecast timeframe. The expansion of this segment over 2022-2030 can be credited to the large-scale on-premise deployment by small & medium-scale businesses.
On the basis of end-user, the global project management software market is divided into healthcare, oil and gas, government, IT and telecom, and others. Moreover, the oil and gas segment, which led the global project management software industry share in 2021, is anticipated to lead the segmental surge even in the foreseeable future. The segmental growth can be attributed to the use of project management software by oil & gas firms owing to their focus on garnering real-time data and the need for data analysis.
Based on Solution, the global project management software market is divided into Project Planning and Scheduling, Task Management, Collaboration Tools, Budget and Cost Management, Resource Management, Risk Management, Time Tracking, Reporting and Analytics.
On the basis of Services, the global project management software market is bifurcated into Consulting Services, Integration Services, Training and Support Services, Managed Services.
Report Attributes | Report Details |
---|---|
Report Name | Project Management Software Market |
Market Size in 2024 | USD 8.29 Billion |
Market Forecast in 2034 | USD 23.03 Billion |
Growth Rate | CAGR of 10.76% |
Number of Pages | 182 |
Key Companies Covered | Microsoft Corporation, SAP SE, Broadcom Inc., Oracle Corporation, ServiceNow Inc., AEC Software, Citrix Systems, Inc., Smartsheet.com, Inc., Atlassian Corp PLC, Workfront, Inc., Zoho Corporation, Asana, Inc., and Streamline Media Group, Inc., and others. |
Segments Covered | By Solution, By Services, By Deployment, By End-user, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2023 |
Forecast Year | 2025 - 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America To Lead The Global Market In Terms of Size and Revenue Over Forecast Period
In terms of region, the global project management software market is sectored into Europe, the Middle East and Africa, Asia-Pacific, Latin America, and North America. The North American project management software market is slated to maintain its dominant status during the forecast period subject to the rise in the number of organizations adopting project management software services. Moreover, the escalating demand for project management software among organizations of the sub-continent for proficiently tracking and managing their ventures is likely to act as a stimulator for use of project management software in the region.
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The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the project management software market on a global and regional basis.
The global project management software market is dominated by players like:
The global project management software market is segmented as follows;
By Solution
By Services
By Deployment
By End-user
By Region
FrequentlyAsked Questions
The global project management software market is expected to grow due to Remote work trends and rising need for workflow visibility and team collaboration drive demand. Cloud adoption and integration capabilities also support growth.
According to a study, the global project management software market size was worth around USD 8.29 Billion in 2024 and is expected to reach USD 23.03 Billion by 2034.
The global project management software market is expected to grow at a CAGR of 10.76% during the forecast period.
North America is expected to dominate the project management software market over the forecast period.
Leading players in the global project management software market include Microsoft Corporation, SAP SE, Broadcom Inc., Oracle Corporation, ServiceNow Inc., AEC Software, Citrix Systems, Inc., Smartsheet.com, Inc., Atlassian Corp PLC, Workfront, Inc., Zoho Corporation, Asana, Inc., and Streamline Media Group, Inc., among others.
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