The report “Cloud Project Portfolio Management Market – Growth, Trends, Impact of COVID-19 and Forecasts (2021-2026)” was added in ResearchAndMarkets.com’s offer.
The Cloud Project Portfolio Management (PPM) market is expected to grow at a CAGR of 17% over the forecast period from 2021 to 2026.
Key market trends
Healthcare is projected to be one of the fastest growing verticals
Whether driven by regulatory requirements, risk recognition, or a desire to achieve world-class performance, healthcare executives are investing heavily in cloud project portfolio management across all businesses. This takes the form of dedicated promotion teams backed by experts in facilitation and improvement methods.
Health projects often call on the Cloud Project Management Office (PMO) to oversee complex projects that integrate specialized applications and systems into a sophisticated technology landscape, while working with teams with little or no project-specific experience.
For example, Eclipse PPM is a leading PPM healthcare software, providing a centralized place to track and monitor the entire portfolio of all projects, effectively plan and execute all projects while updating status and finances in real time to achieve optimal transparency. for all stakeholders.
Moreover, the percentage of healthcare company executives in the United States who have projected selected aspects of health information technology will have the greatest impact on health systems in the next five years from 2018. According to a 2018 Academy of Health Management survey, 62% of respondents cited precision medicine within artificial intelligence would be one of the most effective aspects of health IT on health systems in the next five years.
The health and life sciences vertical is expected to expand at the fastest rate thanks to benefits such as reduced equipment installation time, improved patient care and quality, reduced waiting times, and lower readmission rates.
North America will lead the market
North Americans retain the most significant market share due to the growing number of companies using cloud project management software solutions. The growing demand among companies for efficient monitoring and control of their projects amplifies this demand for software in this region.
The use of a task management system for successful task execution and flexible work planning is expected to further boost the market in the coming years. According to research by Capterra Inc. conducted in the United States, since 2019, 76% of respondents said they have used their project management software to manage tasks.
In addition, the increased focus of organizations on promoting collaboration among the workforce and increasing team efficiency is also driving market growth in North America. For example, according to a survey by LinkedIn, 72% of Millennials in the United States in 2019 said they appreciated the ability to collaborate with others while attending a course.
According to Clutch.co, since April 2020, more than a third (36%) of employees have used Zoom when working remotely, followed by Microsoft Teams, with 19% of workers in the region. Collaborative applications, such as Facebook’s Slack or Workplace in the United States, are designed to facilitate workplace communication and improve workplace efficiency.
Moreover, the introduction of technologically superior corporate solutions by small companies is expected to boost market growth. For example, in December 2018, Victory Square Technologies launched Team Real-Time Resource Management Software, an AI-based solution.
2 RESEARCH METHODOLOGY
4 Market insight
4.1 Market overview
4.2 Analysis of the attractiveness of Porter’s five strengths industry
5 MARKET DYNAMICS
5.1 Market drivers
5.1.1 Increasing use of BYOD and mobile devices
5.1.2 Increased adoption of Cloud analytics
5.2 Market challenges
5.2.1 Security and privacy issues
5.3 Market opportunities
5.3.1 Adoption of PPM solutions based on the cloud among small and medium enterprises (SMEs)
5.4 Industry Value Chain Analysis
5.5 Covid-19 impact assessment on industry
6 MARKET SEGMENTATION
6.1 According to the installation model
6.1.1 Public cloud
6.1.2 Private cloud
6.1.3 Hybrid cloud
6.2 By applying (qualitative analysis)
6.2.1 Portfolio Management
6.2.2 Demand Management
6.2.3 Project management
6.2.4 Resource Management
6.2.5 Financial Management
6.2.6 Other applications
6.3 According to the industrial vertical
6.3.2 Health and life sciences
6.3.3 IT and telecommunications
6.3.5 State and public sector
6.3.6 Other industrial verticals
6.4.1 North America
6.4.3 Asia-Pacific region
6.4.4 Latin America
6.4.5 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company profiles
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report visit https://www.researchandmarkets.com/r/s9f00u
Check out the original version at businesswire.com: https://www.businesswire.com/news/home/20210408005772/en/
Laura Wood, Senior Press Manager
For EST business hours, call 1-917-300-0470
For a free call to USA / CAN 1-800-526-8630
For GMT opening hours call + 353-1-416-8900