Overview and Scope
AI in project management involves leveraging artificial intelligence technologies and algorithms to optimize project management processes, automate tasks, and enhance decision-making. AI helps to streamline operations, improve efficiency, and successfully deliver projects within set constraints such as time and budget while meeting the defined project objectives and acceptance criteria.
Sizing and Forecast
The ai in project management market size has grown rapidly in recent years. It will grow from $2.67 billion in 2023 to $3.14 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to growth in adoption of industry 4.0, increased demand for better and more efficient project management solutions, growth of the it industry, increased per capita income, globalization.
The ai in project management market size is expected to see rapid growth in the next few years. It will grow to $6.07 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to rising need for quality inspection and automation, government initiatives to support industrial automation and the integration of artificial intelligence, increasing investments in ai technology, increasing corporate sectors, increasing adoption of ml. Major trends in the forecast period include predictive analytics and risk management, ai-powered resource optimization, personalized communication and engagement, adaptive learning algorithms, advanced next-gen solutions.
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Segmentation & Regional Insights
The ai in project management market covered in this report is segmented –
1) By Type: Solutions, Services
2) By Deployment Model: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium Enterprises
4) By Application: Project Scheduling And Budgeting, Data Analytics, Reporting, And Visualization, Project Support And Administration, Project Data Management, Risk Management, Project Task Management, Multiple Serving
5) By End User: Banking, Financial Services And Insurance (BFSI), Retail And E-Commerce, IT And Telecom, Government And Defense, Energy And Utilities, Other End-Users
North America was the largest region in the AI in project management market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the ai in project management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The expansion of various cloud operations is significantly contributing to the growth of AI in the project management market going forward. Cloud operations include managing workloads and IT service delivery, tuning, optimizing, and performing in a cloud environment, including multi-cloud, hybrid, in the data center, and at the edge. Artificial intelligence (AI) used for project management is accessed and deployed through cloud operations, and companies adopting the cloud are extensively using AI to manage their project management data and schedule and automate processes to improve decision-making and create efficiencies in project developments. For instance, in June 2022, according to data released by Eurostat, the Luxembourg-based directorate-general of the European Commission, the percentage of companies using cloud computing services in the European Union increased from 36% in 2020 to 41% in 2021, where 73% of those companies used high-end cloud services for hosting databases, security software applications, or computing platforms for creating, testing, and deploying applications. Therefore, the expansion of various cloud operations is driving the growth of AI in the project management market.
Key Industry Players
Major companies operating in the ai in project management market report are Amazon Web Services, Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Deloitte, Oracle Corporation, SAP SE, Cognizant Technology Solutions Corporation, Adobe Inc., Wipro Ltd., ServiceNow Inc., Infor, Atlassian Corporation, Zoho Corporation, Smartsheet Inc., Automation Anywhere, Asana Inc., Hyperlink InfoSystem, AlphaSense Inc., Moveworks Inc., H2O.ai, Jasper AI Inc., Aitheon, ALICE Technologies Inc., Deeper Insights, ProofHub LLC, Uizard Technologies.
The ai in project management market report table of contents includes:
1. Executive Summary
2. AI in Project Management Market Characteristics
3. AI in Project Management Market Trends And Strategies
4. AI in Project Management Market – Macro Economic Scenario
5. Global AI in Project Management Market Size and Growth
…
32. Global AI in Project Management Market Competitive Benchmarking
33. Global AI in Project Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The AI in Project Management Market
35. AI in Project Management Market Future Outlook and Potential Analysis
36. Appendix
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