AI in Project Management Market Growth Trajectory Through 2024-2033|Amazon Web Services, Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Deloitte

The AI in Project Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s AI in Project Management Global Market Report 2024, 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.

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.

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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

Technological advancements are a key trend gaining popularity in the AI in project management market. Major companies operating in the AI in project management market are focusing on increasing the domain of their artificial intelligence (AI) offerings to include project management dealing with more applications, such as construction. For instance, in February 2021, Oracle, a US-based computer software company, launched Oracle’s Construction Intelligence Cloud Service. It can analyze prior project data and provide users with suggestions on their present and future initiatives using artificial intelligence (AI). As an AI advisor, the service will deliver tailored guidance to businesses based on their previous scheduling and project data. The system will be linked to a firm’s P6 and other project data to offer recommendations on existing and future projects.

The ai in project management market report table of contents includes: