Global Cloud project portfolio management Market By Application (Project Management, Portfolio Management, Demand Management, Resource Management, Financial Management, Others) Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), Organization Size (Small and Medium Enterprises, Large Enterprises), Vertical(Banking, Financial Services, and Insurance, Healthcare and Life Sciences, Telecommunication and Ites, Manufacturing, Government and Public Sector, Retail and Consumer Goods, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Forecast to 2026
The cloud project portfolio management is a complete and integrated solution which dramatically improves the way project-driven organizations work, enabling efficient and effective project management while ensuring smarter business decisions based on a single source of project truth. It is useful in various applications such as project financial management offering, project execution management offering among others. The high adoption of cloud analytics, improved business efficiencies for the SMEs among others are some of the factors boosting the growth of this market.
Global Cloud Project Portfolio Management Market is expected to rise from its initial estimated value of USD 3.46 billion in 2018 to an estimated value of USD 9.89 billion by 2026, registering a CAGR of 14.00% in the forecast period of 2019-2026. This rise in market value can be attributed to the rise in security and privacy concerns among various enterprises.
Few of the major competitors currently working in the cloud project portfolio management market are
- Broadcom (U.S.),
- Hewlett Packard Enterprise Development LP (U.S.),
- Changepoint Corporation (Ontario),
- Clarizen . (U.S.),
- Microsoft (U.S.),
- MAVENLINK, INC. (U.S.),
- Oracle U.S.),
- Planisware (U.S.),
- ServiceNow, Inc. (U.S.),
- SAP SE (Germany),
- Upland Software, Inc (U.S.),
- Workfront, Inc. (U.S.),
- Clarizen INC. (US),
- Microsoft Corporation (US),
- Onepoint Projects GmbH (Austria),
- Celoxis Technologies Pvt. Ltd (India),
- com, Inc. (US).
- There is increase in use of boyd and mobile devices drives the demand for cloud ppm that is expected to drive the market growth.
- Rice in adoption of cloud analytics is also to drive the market growth.
- There is increase for ROI in process manufacturing industries security is expected to drive the market growth.
- There is rise in security and privacy concerns among enterprises are expected to act as a restraint to the market growth.
- Project Management
- Portfolio Management
- Demand Management
- Resource Management
- Financial Management
By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
- Banking, Financial Services, and Insurance
- Healthcare and Life Sciences
- Telecommunication and Ites
- Government and Public Sector
- Retail and Consumer Goods
- North America
- South America
- Middle East and Africa
Key Developments in the Market:
- In October 2018, IBM Acquired Red Hat. Red Hat, Inc. which is an American multinational software company providing open-source software products, this acquisition IBM will become the leader in hybrid cloud providers.
- In January 2019, Cloudera Merged with Hortonworks. Cloudera delivers an enterprise data cloud for data. With this merger cloudera will raise the bar on innovation in the big data space, especially in supporting an end-to-end big data strategy in a hybrid and multi-cloud environment.
Competitive Analysis: Global Cloud project portfolio management Market
Global cloud project portfolio management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cloud project portfolio management market for Global, Europe, North America, Asia-Pacific and South America.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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