The Cloud Project Portfolio Management by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cloud Project Portfolio Management, The cloud project portfolio management market size has grown strongly in recent years. It will grow from $6.65 billion in 2023 to $7.25 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to shift from on-premises to cloud-based solutions, increased demand for centralized project management, scalability and flexibility requirements, cost-efficiency and reduced infrastructure, rise in project complexity and data volume..
The cloud project portfolio management market size is expected to see rapid growth in the next few years. It will grow to $10.96 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to increasing cloud adoption across industries, increasing demand for scalable and agile solutions, focus on remote work and collaboration tools, enhanced security and compliance measures, focus on user experience and adoption.. Major trends in the forecast period include rise in remote work and distributed teams, integration with emerging technologies, agile and adaptive project management methodologies, focus on user experience and ease of adoption, real-time reporting and analytics capabilities..
High adoption of cloud analytics is expected to propel the growth of the cloud project portfolio management market. Cloud analytics refers to the application of analytic algorithms in the cloud against data in a private or public cloud. These cloud analytics involves scalable cloud computing with analytics software to identify data in patterns and extract new insights. Cloud services offer the easiest ways for organizations to get involved in the cloud. According to Gartner, a US-based consulting firm, the worldwide spending on public cloud services is estimated to increase from $332.3 billion in 2021 to $397.5 billion in 2022. Cloud application services are forecasted to reach $145.3 billion by the end of 2022. The spending on cloud services is expected to boost demand for cloud project portfolio management solutions industry during the forecast period.
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The cloud project portfolio management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Organization Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
3) By Deployment Model: Private Cloud, Public Cloud, Hybrid Cloud, Other Deployments
4) By Industry Vertical: BFSI, Healthcare & Life Sciences, IT & Telecommunication, Manufacturing, Government & Public Sectors, Other Industry Verticals
Strategic partnerships are a key trend gaining popularity in the cloud project portfolio management market. Major companies operating in cloud project portfolio management are undergoing partnerships to strengthen their new product development activities and their position in the market. For example, Planview, a US-based provider of dashboards for portfolio management, resource management, project management, and request management, partnered with Cherwell, a UK-based provider of service and cloud-based IT service management solutions that help organizations’ IT teams to implement, automate, and upgrade service and support processes. The partnership demonstrates Cherwell ITSM and Planview Portfolio Management’s capacity to support shared clients in achieving business strategic and operational goals. Additionally, the a US-based Upland Software firm pushed its corporate vision with PPM software and has already teamed up with the a US-based Microsoft software company. As a result of this collaboration, project team members can now interact, communicate, exchange documents, and arrange meetings straight from their PPM solution using Microsoft Teams and Upland’s interface. Upland PowerSteering’s integration with Microsoft Teams reduces the risk of ineffective project communications and increases business productivity.
The cloud project portfolio management market report table of contents includes:
1. Executive Summary
2. Cloud Project Portfolio Management Market Characteristics
3. Cloud Project Portfolio Management Market Trends And Strategies
4. Cloud Project Portfolio Management Market – Macro Economic Scenario
5. Global Cloud Project Portfolio Management Market Size and Growth
…
31. Global Cloud Project Portfolio Management Market Competitive Benchmarking
32. Global Cloud Project Portfolio Management Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cloud Project Portfolio Management Market
34. Cloud Project Portfolio Management Market Future Outlook and Potential Analysis
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