The first attempt pass rate is 60 to 70%. One way to increase the value of certification would be to increase test difficulty so the pass rate is decreased to the max. 50% on the first attempt.
On the other hand, the market seems to indicate otherwise. The latest salary survey from PMI shows that PMP certificate holders earn a higher salary than those than do not have it.
In my opinion, the more it's popular the more it's important and required. And also, it's so valuable to work with other PMPs so you can speak the same language and understand each other.
There are certification proposals from other organizations with different methodologies or designations than PMI
The project approach is expected to be increasingly adopted by
If you compare the number of PMI certified people with the number of companies and organizations in the world, you will see that we are a drop of water in the ocean.