Cloud Project Portfolio Management Market Potential Analysis, Key Drivers, Emerging Growth, Trends And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Cloud Project Portfolio Management Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $10.96 billion In 2028 At A CAGR Of 10.9% :

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..

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Cloud Project Portfolio Management Market Major Segments
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

Key Driver - Cloud Project Portfolio Management Market Surges With Cloud Analytics Adoption

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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Prominent Trend - Strategic Collaboration Enhances The Cloud Project Portfolio Management Market

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.

Cloud Project Portfolio Management Market Players
Major companies operating in the cloud project portfolio management market report are Oracle Corporation, Hewlett Packard Enterprise Company LP, SAP SE, Changepoint Corporation, Upland Software Inc., Clarizen Inc., Workfront Inc., Microsoft Corporation, Planview Inc., Mavenlink, Servicenow Inc., Hexagon AB, Micro Focus International plc, ONEPOINT Projects GmbH, Broadcom Corporation, Keyedin Inc., Planisware, Sciforma Corporation, Wrike Inc., LiquidPlanner Inc., Smartsheet Inc., Celoxis Technologies Pvt Ltd., Zoho Corporation Pvt Ltd., WorkOtter LLC, Project Objects Ltd., Genius Project, Innotas AG, Project Insight, EasyVista Inc., ProjectManager. com Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the cloud project portfolio management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud project portfolio management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cloud Project Portfolio Management Market Report Structure
3. Cloud Project Portfolio Management Market Trends And Strategies
4. Cloud Project Portfolio Management Market - Macro Economic Scenario
5. Cloud Project Portfolio Management Market Size And Growth
…..
27. Cloud Project Portfolio Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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