About Cloud-based Project Portfolio Management
Cloud-based project portfolio management refers to a collective effort by an organization to centralize and coordinate project efforts across a portfolio of work. It helps automate processes, streamlining the planning, managing, and delivery of each project. The portfolio management process supports the fundamentals of project management by offering a clear path to prioritization that allows project managers to create flexible timetables.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Global Cloud-based Project Portfolio Management is a fragmented market due to the presence of various players. The players are investing more in mergers and acquisitions to enhance their market presence. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Smartsheet Inc (United States), Microsoft Corporation (United States), Wrike (United States), Planview (United States), Zoho Corporation (India), Teamwork (Ireland), Workfront (United States) Adobe, ServiceNow (United States), Planview (United States) and KeyedIn Solutions (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Mavenlink (United States), Oracle Corporation (United States) and Planisware (United States).
Segmentation Overview
AMA Research has segmented the market of Global Cloud-based Project Portfolio Management market by , Application (Construction, IT, Healthcare and Others) and Region.
On the basis of geography, the market of Cloud-based Project Portfolio Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Enterprise Size, the sub-segment i.e. SMEs will boost the Cloud-based Project Portfolio Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. IOS will boost the Cloud-based Project Portfolio Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing, the sub-segment i.e. Free will boost the Cloud-based Project Portfolio Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Project Demand Management will boost the Cloud-based Project Portfolio Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Focus towards Reduce the Workload and Standardization in Work Processes
Market Growth Drivers:
Rapidly Increasing Work Load on the Organizations and Cloud-based Project Portfolio Management Reduce Cost of Other Softwares
Challenges:
Lack of Awareness among Enterprises
Restraints:
Security-Related Risks with the Cloud-based Project Portfolio Management
Opportunities:
Growing Implementation of Cloud-based Project Portfolio Management Businesses to commit their Limited Pool of Resources
Market Leaders and their expansionary development strategies
In 2020, Workfront was acquired by Adobe. The acquisition allows seamless connection to Adobe Creative Cloud and Adobe Experience Cloud. The combination brings together to provide customers access to a single system to support planning, collaboration, and governance that will unlock organizational productivity.
In May 2023, IBM, has unveiled IBM Hybrid Cloud Mesh, a SaaS offering that is designed to enable enterprises to bring management to their hybrid multicloud infrastructure. Driven by “Application-Centric Connectivity”, IBM Hybrid Cloud Mesh is engineered to automate the process, management and observability of application connectivity in and between public and private clouds to help modern enterprises operate their infrastructure across hybrid multicloud and heterogeneous environments.
Key Target Audience
Cloud-based Project Portfolio Management Developers, Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.