Key Players of Cloud Project Portfolio Management Market are Oracle, Hewlett Packard Enterprise, SAP SE, Changepoint Corporation, Upland Software Inc, Clarizen Inc, Workfront Inc, Microsoft Corporation, Planview, Mavenlink, Servicenow Inc, Hexagon, Micro Focus , ONEPOINT Projects, and Seized Projects.
New York, Sept. 16, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Cloud Project Portfolio Management Global Market Report 2022” – https://www.reportlinker.com/p06319904/?utm_source=GNW
The global cloud project portfolio management market is expected to grow from $5.50 billion in 2021 to $6.50 billion in 2022 at a compound annual growth rate (CAGR) of 18.23%. The cloud project portfolio management market is expected to reach $11.49 billion in 2026 at a compound annual growth rate (CAGR) of 15.32%.
The cloud project portfolio management market consists of the sale of cloud project portfolio management solutions by entities (organizations, sole traders and partnerships) that refer to a complete integrated solution that improves the efficiency of organizations on projects. He will manage the organization’s project group. and processes selected and managed to deliver better returns on project investments.
The portfolio is selected to achieve the objectives of the organization and also allows the project team to manage the overall risk of the project.
The main component offered in cloud project portfolio management includes solutions and services. Cloud project portfolio management solutions refer to cloud computing platforms, which provide portfolio management solutions for everything from applications to data centers on a pay-as-you-go basis.
They are deployed in small and medium enterprises and large enterprises through private cloud, public cloud and hybrid cloud. These solutions are used by industries ranging from BFSI, healthcare and life sciences, IT and telecommunications, manufacturing, government and public sectors and other industry verticals.
North America was the largest region in the cloud project portfolio management market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.
Regions covered in the Cloud Project Portfolio Management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Cloud Project Portfolio Management Market research report is part of a series of new reports that provide statistics on the Cloud Project Portfolio Management market, including the global market size of the Cloud Project Portfolio Management Industry, Regional Shares, Competitors with Cloud Project Portfolio Management Market Share, Detailed Cloud Project Portfolio Management Market Segments, Trends and Opportunities of the market, as well as any other data you may need to thrive in the cloud project portfolio management industry. This Cloud Project Portfolio Management Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of current and future industry scenarios.
High adoption of cloud analytics is expected to propel the growth of cloud project portfolio management market. Cloud analytics refers to the application of analytical algorithms in the cloud against data in a private or public cloud.
These cloud analytics involve scalable cloud computing with analytics software to identify data in patterns and extract new insights. Cloud services offer organizations the easiest ways to engage with the cloud.
According to Gartner, a US-based consulting firm, global spending on public cloud services is expected to grow from $332.3 billion in 2021 to $397.5 billion in 2022. Cloud application services are expected to reach $145.3 billion by the end of 2022. Spending on cloud services is expected to drive the demand for cloud project portfolio management solutions during the forecast period.
Strategic partnerships are a key trend gaining popularity in the cloud project portfolio management market. Leading companies operating in cloud project portfolio management are entering into partnerships to strengthen their new product development activities and market position.
For example, in April 2020, Planview, a US provider of dashboards for portfolio management, resource management, project management and request management, partnered with Cherwell, a UK service provider and cloud-based IT service management solutions that help organizations’ IT teams implement, automate and scale service and support processes. The partnership demonstrates the ability of Cherwell ITSM and Planview Portfolio Management to help joint customers achieve their strategic and operational goals.
Moreover, in 2019, the American company Upland Software pushed its business vision with PPM software and partnered with the US-based software company Microsoft. Thanks to this collaboration, project team members can now interact, communicate, exchange documents, and organize meetings directly from their PPM solution using Microsoft Teams and the Upland interface.
Upland PowerSteering’s integration with Microsoft Teams reduces the risk of ineffective project communications and increases business productivity.
In March 2021, Symphony Technology Group, an American company specializing in innovative software, data and analytics, acquired Sciforma for an undisclosed sum. Through this acquisition, Symphony Technology Group is focused on enhancing its industry-leading cloud service, while Sciforma’s laser focus on providing the best possible customer service combined with additional financial support to further accelerate the innovation.
Sciforma is a US-based software company that provides project and portfolio management.
The countries covered in the Cloud Project Portfolio Management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
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