Global Cloud Project Portfolio Management Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 15.2 % through 2020 to 2026, reaching nearly US$ XX Bn.
The global Cloud Project Portfolio Management market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Cloud Project Portfolio Management report also provides trends by market segments, technology, and investment with a competitive landscape.
Overview of Cloud Project Portfolio Management:
Applications that automate and optimize the initiating, planning/scheduling, allocation, tracking, and measurement of activities and resources needed to complete projects are known as project and portfolio management (PPM) applications. Certain aspects of IT service management, especially that involving project portfolio management within the IT domain, are also covered by PPM applications.
Cloud PPM, which combines cloud and PPM and aids in collaborative planning, scheduling, and quicker and more efficient decision-making is rapidly gaining traction.
Global Cloud Project Portfolio Management Market Dynamics:
The shift toward cloud-based solutions, increased demand for bring your own device (BYOD), and organizations' expectation of achieving a faster return on investment (ROI) are the factors expected to drive the market growth during the forecast period. Furthermore, factors such as enterprise mobility, ease of access, and real-time collaboration of geographically dispersed business units has aided the growth of the BYOD trend. Because mobile accessibility keeps the project team informed of tasks and updates, it is regarded as one of the factors driving the growth of the cloud PPM market. However, cloud PPM security and privacy concerns are expected to impede the market growth.