The cloud project portfolio management market has demonstrated robust growth in the past few years.
• The market grew from $7.09 billion in 2024 to $7.65 billion in 2025 at a CAGR of 7.9%.
The historic growth can be ascribed to a shift from on-premises to cloud-based solutions, increased demand for centralized project management, scalability and flexibility requirements, cost-efficiency and reduced infrastructure, and a rise in project complexity and data volume.
Over the next few years, the cloud project portfolio management market is poised for accelerated growth.
• The market is expected to reach $12.57 billion in 2029, growing at a CAGR of 13.2%.
The forecasted growth is influenced by increasing cloud adoption across industries, a growing demand for scalable and agile solutions, an emphasis on remote work and collaboration tools, enhanced security and compliance measures, and a focus on user experience and adoption. Emerging trends include the rise in remote work and distributed teams, and integration with emerging technologies.
High adoption of cloud analytics is likely to fuel the growth of the cloud project portfolio management market. Cloud analytics involves the use of analytic algorithms against data in a private or public cloud to identify patterns and extract new insights. Moreover, according to Gartner, worldwide spending on public cloud services is anticipated to grow from $332.3 billion in 2021 to $397.5 billion in 2022, with cloud application services forecasted to reach $145.3 billion by the end of 2022. The escalating expenditure on cloud services is expected to heighten demand for cloud project portfolio management solutions.
The cloud project portfolio management market is classified as:
1) By Component: Solution, Services
2) By Organization Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
3) By Deployment Model: Private Cloud, Public Cloud, Hybrid Cloud, Other Deployments
4) By Industry Vertical: BFSI, Healthcare & Life Sciences, IT & Telecommunication, Manufacturing, Government & Public Sectors, Other Industry Verticals
Strategic partnerships are acting as a key trend spurring growth in the cloud project portfolio management market. Major firms are engaging in partnerships to bolster new product development activities and reinforce their market position. Examples include Planview's partnership with Cherwell, Upland Software's collaboration with Microsoft, and many others.
The dominant players in the cloud project portfolio management market consist of:
• Oracle Corporation
• Hewlett Packard Enterprise Company LP
• SAP SE
• Changepoint Corporation
• Upland Software Inc.
• Clarizen Inc.
• Workfront Inc.
• Microsoft Corporation
• Planview Inc.
• Mavenlink
• Servicenow Inc.
• Hexagon AB
• Micro Focus International plc
• ONEPOINT Projects GmbH
• Broadcom Corporation
• Keyedin Inc.
In 2024, North America held the largest market share in the cloud project portfolio management market. Asia-Pacific, on the other hand, is projected to record the fastest growth during the forecast period. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.