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$5.79 Billion Cloud Project Portfolio Management Market - By Application, Deployment Model, Organization Size, Vertical & Region - Global Forecast to 2022 - Research and Markets

[April 12, 2017]

$5.79 Billion Cloud Project Portfolio Management Market - By Application, Deployment Model, Organization Size, Vertical & Region - Global Forecast to 2022 - Research and Markets

Research and Markets has announced the addition of the "Cloud Project Portfolio Management Market - Global Forecast to 2022" report to their offering.

The cloud Project Portfolio Management (PPM (News - Alert)) 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. However, growing concerns regarding data security and privacy are the major restraints in the overall growth of the market.

The Small and Medium Enterprises (SME) segment is expected to grow with the largest market size during the forecast period. Cloud PPM has become a vital part of the business processes in SMEs due to the ease of use and the flexibility it offers and is expected to grow in the coming years. The factors driving this segment include quick responses, timely decisions, and overall enhanced business productivity Moreover, the implementation of cloud PPM resulted in an increased revenue, desired outcomes, and improved business efficiencies for the SMEs.

With the increasing deployment of cloud computing, the application segment is expected to grow in the coming years. The resource management application is expected to grow at the highest CAGR during the forecast period. This application consists of planning, allocating, and scheduling of resources to tasks that include manpower, systems, money, and materials. Vendors offering this application focus on the better utilization of resources, improve profits, and minimize unavailability of resources.

Companies Mentioned