The cloud Project Portfolio Management (PPM) market 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%, owing to the existing market offerings and increasing market reach for the cloud PPM providers.
The major players in the cloud PPM market include CA Technologies (New York, U.S.), HPE (California, U.S.), Changepoint Corporation (Richmond Hill, Ontario), Clarizen, Inc. (California, U.S.), Microsoft Corporation (Washington, U.S.), Mavenlink (California, U.S.), Oracle Corporation (California, U.S.), lanisware (California, U.S.), ServiceNow, Inc. (California, U.S.), SAP SE (Walldorf, Germany), Upland Software (Texas, U.S.), and Workfront, Inc. (Utah, U.S.). These players have adopted various growth strategies, such as new product launches, partnerships, agreements, mergers & acquisitions, and expansions. Product launches and expansions were the two major strategies adopted by these players to achieve a strong foothold in the cloud PPM market.
SAP SE is one of the prominent players in the cloud PPM market. The company has been focusing on applications, analytics, mobile, databases, and cloud-based solutions. Its growth strategy focuses on expanding its offerings in five market categories: applications, analytics, mobile, database & technology, and the cloud. With the number of product launches, it can be derived that the company is quite promising in converting its core on-premises applications to the choice of cloud deployments. SAP SE is successfully delivering cloud PPM solutions to its customers and improving to help them in a better way. SAP remains dedicated to driving growth through organic development of its product and service portfolio and focuses on the acquisition of specific technologies to address customer needs. For example, in June 2016, SAP SE launched the next-generation business suite SAP S/4HANA for enterprise management, which includes PPM solution. The SAP S/4HANA offers cloud-based PPM solution that helps in optimizing financial and logistics control. Moreover, it is investing heavily in Research and Development (R&D) activities to expand its presence worldwide. SAP empowers its team to work together and gain a competitive edge over its competitors.
Clarizen is another top market player catering to the cloud PPM market. Clarizen's PPM software solution helps to build project plans by adding deliverables, milestones, schedules, budgets, and resources. Centralization of projects, monitors, and managing the complete project are some of the features provided by the solution. It has successfully adopted various strategies, such as new product launches and expansions in the cloud PPM market and has gained a high market traction. Recently, in March 2017, the company launched a new product that offers new pre-built integrations with NetSuite and SAP financial applications. The new product helps in automating the complete end-to-end project management life cycle of the enterprises. Further, Clarizen has expanded its business in the Asia-Pacific (APAC) region by opening its new office in Australia in 2015. The new office is serving tech-savvy regions, such as Australia, New Zealand, Japan, and India.
The cloud PPM market research report analyzes the global adoption trends, future growth potentials, key drivers, vendor portfolio analysis, restraints, opportunities, and value chain.
Cloud Project Portfolio Management Market by Application (Portfolio Management, Resource Management, Demand Management, Financial Management, Project Management), Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022
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