LONDON, Feb. 10, 2016 /PRNewswire/ -- This IDC study provides 2015-2019 forecast and a 2014 share and analysis for the worldwide IT project and portfolio management (IT PPM) market, which grew 4.5% to $1.1 billion in 2014 with current IDC IT PPM numbers. We expect the market to grow to around $2 billion by 2019 (based on current IDC IT PPM market numbers) with a CAGR of 12.2%. This growth was significant in an emerging 2014 market. "Agile and service management vendors have been leveraging IT 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 IT PPM areas in 3Q15 alone. We expect IT PPM, in that time frame, to also play a role increasingly in coordination software engineering with systems, mechanical, and electrical along with new product development (NPD) for 'smarter' products and the evolving Internet of Things (IoT) arena. 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') is key. Global 2000 organizations continue to struggle with the complexity of IT project, program, and product delivery while seeking to manage economic and political volatility as operational and business needs 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, including IT PPM. Smaller vendors will play a key role in product and market innovation, and differentiated IT PPM solutions will come into play in that context as further consolidation and product evolution occurs."
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