We’ve all heard of cloud computing, and the most tech-savvy among us are tuned into all of its variants — from audio-visual storage to project portfolio management, or PPM. PPM is where the real money is made because that’s all enterprise driven. You want to be where corporations are spending money, and that’s PPM, says business intel firm MarketsandMarkets in a report on the cloud computing solutions market released this week.
The cloud PPM market is expected to double within five years from $2.97 billion in 2017 to $5.79 Billion by 2022, for a Compound Annual Growth Rate of 14.3%.
The report lists the following publicly traded companies as the best positioned to benefit from that growth.
- Hewlett Packard ([stock_quote symbol=”HP” show=”symbol”])
- Microsoft ([stock_quote symbol=”MSFT” show=”symbol”])
- Oracle ([stock_quote symbol=”ORCL” show=”symbol”])
- ServiceNow ([stock_quote symbol=”NOW” show=”symbol”])
- SAP ([stock_quote symbol=”SAP” show=”symbol”])
- Upland Software ([stock_quote symbol=”UPLD” show=”symbol”])
The major drivers of this market include the increasing trend of bring-your-own-device, with fewer security-minded companies handing out BlackBerry phones these days. The cloud-based PPM software solutions help control the cost associated with projects that are being downloaded and uploaded across a host of different operating systems, namely iOS and Android.
North America is expected to hold the largest market share and dominate the cloud PPM market during the next five years, report authors believe.