Cloud Project Portfolio Management Market Surges With Cloud Analytics Adoption: Key Factor Driving The Growth In The Cloud Project Portfolio Management Market

The Cloud Project Portfolio Management Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Cloud Project Portfolio Management Market Size During the Forecast Period?
The size of the cloud project portfolio management market has seen consistent and significant growth in recent periods. The market, which stood at $7.09 billion in 2024, is predicted to expand to $7.65 billion by 2025, representing a compound annual growth rate (CAGR) of 7.9%. This impressive growth in the historical timeframe can be linked to a variety of factors including the shift from on-premise to cloud-based solutions, the heightened need for centralized project management, the issues of scalability and flexibility, cost-efficiency, reduced infrastructure, as well as the increase in project complexity and data volume.

Over the upcoming years, the cloud project portfolio management market is predicted to witness quick expansion. By 2029, it is anticipated to escalate to a valuation of $12.57 billion, with a CAGR of 13.2%. This advancement in the projection phase can be associated with the intensifying adoption of the cloud across various sectors, the growing requirement for flexible and nimble solutions, emphasis on remote working and cooperation tools, improved safety and regulatory standards, and stress on user experiences and adoption. The forecast period may see predominant trends such as a surge in remote working and distributed teams, amalgamation with up-and-coming technologies, flexible and adaptive project management methods, a spotlight on user experience and ease of adoption, coupled with real-time reporting and analytic capabilities.

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What Are the High-Growth Segments in the Cloud Project Portfolio Management Market?
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

Subsegments:
1) By Solution: Project Management Software, Resource Management Tools, Portfolio Management Software, Collaboration And Communication Tools, Reporting And Analytics Solutions
2) By Services: Implementation Services, Training And Support Services, Consulting Services, Maintenance And Upgrades

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What Key Drivers Are Expected to Influence Future Cloud Project Portfolio Management Market Growth?
The cloud project portfolio management market stands to benefit from the widespread adoption of cloud analytics. Cloud analytics, which is the use of analytic algorithms within the cloud to access data in private or public clouds, provides a way to discern patterns in data and garner fresh insights. The ease of engaging with cloud services makes them particularly enticing for organizations. The US-based consulting firm, Gartner, anticipates global expenditure on public cloud services to rise from $332.3 billion in 2021 to $397.5 billion in 2022. Furthermore, cloud application services are predicted to reach a value of $145.3 billion by the end of 2022. This growing investment in cloud services is likely to stimulate demand within the cloud project portfolio management solutions sector in the upcoming time.

Which Companies Hold the Largest Share Across Different Cloud Project Portfolio Management Market Segments?
Major companies operating in the cloud project portfolio management market include 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.

What Trends Are Driving Growth in The Cloud Project Portfolio Management Market?
The emergence of strategic alliances is a rising trend in the field of cloud project portfolio management. Prominent companies in this domain are resorting to partnerships to fortify their product development efforts and solidify their market positioning. For instance, Planview, a US enterprise specializing in dashboard solutions for project management, resource management, portfolio management, and demand management, entered into a partnership with Cherwell, a UK firm offering cloud-based IT service management tools to help organizations' IT departments streamline, automate, and upgrade service and support procedures. This collaboration showcases the ability of Cherwell ITSM and Planview Portfolio Management to aid mutual customers in achieving their strategic business and operational objectives. Additionally, Upland Software, a US organization, has propelled its PPM software driven corporate vision by forging a partnership with Microsoft, a US software company. Consequently, project teams can now collaborate, exchange information, share files, and schedule meetings directly via their PPM solution using Microsoft Teams and Upland's interface. The integration of Upland PowerSteering and Microsoft Teams mitigates the risk of inefficient project communication, thereby enhancing business productivity.

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What Are the Emerging Geographies for The Cloud Project Portfolio Management Market Growth?
North America was the largest region in the cloud project portfolio management market in 2024. 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

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cloud Project Portfolio Management Market?
2. What is the CAGR expected in the Cloud Project Portfolio Management Market?
3. What Are the Key Innovations Transforming the Cloud Project Portfolio Management Industry?
4. Which Region Is Leading the Cloud Project Portfolio Management Market?

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