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Cloud project portfolio management market forecast to 2022 just published

IT Market Research

The cloud Project Portfolio Management (PPM) market size is expected to grow from USD 2.97 billion in 2017 to USD 5.79 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.3% due to factors, such as increasing need for Bring Your Own Device (BYOD) & mobile devices, shift toward integrated cloud-based solutions, and increased need for ROI in process manufacturing industries.

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The cloud PPM report aims at estimating the market size and future growth potential of the market across different segments, such as application, deployment model, organization size, vertical, and region. The primary objective of the report is to provide a detailed analysis of the major factors influencing the growth of this market (drivers, restraints, opportunities, industry-specific challenges, and burning issues), analyze the opportunities in the market for stakeholders, and details of the competitive landscape for market leaders.

The market for cloud project portfolio management is primarily being driven by the growing usage of cloud analytics. Cloud analytics enable extraction of specific data from huge amounts of data, coupled with the ability to access the data from anywhere.

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Such advantages have been primarily associated with the higher application of cloud project portfolio management, thus boosting the market forward. Additionally, the application of mobile devices for business purposes, have been growing at a tremendous pace.

Also, organizations are promoting the ‘bring your own device’ concept for cost effectiveness. Such trends are supported by the increasing demand for cloud based systems, which can offer remote access anytime and anywhere.

This in turn is further promoting the demand for cloud project portfolio management solutions. Furthermore, cloud project portfolio management offers several unique benefits, when compared to traditional processes and systems.

Owing to the positive impacts of all such factors, the market for cloud project portfolio management has been growing at a fast pace. However, cloud based solutions are often susceptible to cyber threats and such risks are the primary restraining factor for the market.

The advancements in security systems and protocols, by the vendors of cloud project portfolio management, though have been successful in reducing the impact of this restraint considerably. Considering the growing demand for cloud based systems globally, coupled with the advanced features of the cloud project portfolio management solutions, the market is expected to be provided with several growth opportunities from different industry verticals, during the forecast period.

On the basis of deployment type, the market for cloud project portfolio management has been segmented into private cloud, public cloud and mixed cloud. By organization size, the market for cloud project portfolio management has been segmented into large enterprises, medium enterprises and small enterprises.

The market for cloud project portfolio management, on the basis of end use vertical, has again been segmented into banking, financial services & insurance (BFSI), information technology (IT) & telecommunications, healthcare, consumer goods & retail and manufacturing among other sectors. On the basis of regions, the market for cloud project portfolio management has been segmented into North America, Europe, Asia Pacific (APAC), South America and Middle-East & Africa (MEA).

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Asia-Pacific (APAC) is expected to be the fastest growing region in terms of CAGR. There is a huge potential in this region for cloud adoption in PPM, which can be addressed to create better business opportunities.

The surge in growth is anticipated owing to technological advancements, along with mandatory regulations imposed by government regulatory entities to adopt the best-in-class technology and standards. The growth of the cloud PPM is primarily driven by new users and the growing awareness about the cloud-based solutions in enterprises.

Scope of the Report

The research report categorizes the cloud project portfolio management market to forecast the revenues and analyze the trends in each of the following submarkets:

By Application

  • Project management
  • Portfolio management
  • Demand management
  • Resource management
  • Financial management
  • Others (time and risk management)

By Deployment Model

  • Public cloud
  • Private cloud
  • Hybrid cloud

By Organization Size

  •  Small and Medium Enterprises (SMEs)
  •  Large enterprises

By Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Healthcare and life sciences
  • Telecommunication and ITES
  • Manufacturing
  • Government and public sector
  • Retail and consumer goods
  • Others (travel & transportation, education, and aerospace & defense)

By Region

  • North America
  • Europe
  • Middle East and Africa (MEA)
  • Asia-Pacific (APAC)
  • Latin America

Vendor Comparison Analysis

  • Vendor comparison analysis provides information about the major players, who offer cloud PPM solutions and services and outlines the findings & analysis, on how well each cloud project portfolio management market vendor performs within our criteria.

Geographic Analysis

  • Further breakdown of the North American cloud PPM market
  • Further breakdown of the European cloud PPM market
  • Further breakdown of the APAC cloud PPM market
  • Further breakdown of the MEA cloud PPM market
  • Further breakdown of the Latin American cloud PPM market

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