AI in Project Management Market Size
What industry-specific factors are fueling the growth of the ai in project management market?
The growth of AI in the project management sector can be greatly attributed to the advancement of numerous cloud operations. These cloud operations entail the management of workloads and IT service delivery, optimization and performance tuning in different cloud settings, including multi-cloud, hybrid, in the data center, and in edge computing. AI, when applied to project management, is accessed and implemented through cloud-based operations. Businesses transitioning to the cloud are significantly utilizing AI for the management of project-related data, automation of processes, and enhanced decision-making, thus promoting efficiency in project execution. For instance, Google LLC, a US-based IT firm, reported in January 2023 that 76% of users adopted the public cloud in 2022, a surge of 56% from 2021. Accordingly, the progression of various cloud operations plays a key role in stimulating the growth of AI in the project management market.
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What Is the projected market size and growth rate for the ai in project management market?
In recent times, the market size for AI in project management has experienced a swift expansion. It is projected to rise from $3.08 billion in 2024 to $3.58 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 16.3%. The surge in the historical phase can be linked to the increased adoption of the industry 4.
Anticipated to witness a swift surge in the imminent years, the AI in project management market is projected to escalate to a total worth of $7.4 billion in 2029, with a compound annual growth rate (CAGR) of 19.9%. This expansion during the forecast period is attributed to the escalating requirement for automation and quality inspection, governmental efforts endorsing industrial automation and the amalgamation of artificial intelligence, and rising investments in AI technology. Additionally, an increase in the corporate sectors and embracing machine learning (ml) also contribute to the growth. The upcoming trends within this timeline involve predictive analytics and risk management, resource optimization powered by AI, personalized communication and interaction, adaptive learning algorithms, and high-tech, next-gen solutions.
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What new trends are reshaping the ai in project management market and its opportunities?
Leading enterprises in the AI in project management marketplace are concentrating on innovating features such as voice and text activation, making it more approachable for project managers and team members. Voice and text activation allows devices, software, or systems to be operated or coordinated with either through spoken directives or written commands. For example, Deltek, an enterprise software company headquartered in the US, introduced an innovative solution named Dela in April 2024. It’s designed to upgrade project management throughout its software package. This new AI tool automates tasks, predicts success, and optimizes resource distribution, integrating machine learning to examine previous performances. It offers practical intelligence and decreases the need for manual work. With support for voice and text commands, it’s user-friendly for all team members. This upgrade enhances efficiency throughout the project cycle, empowering teams to work more effectively.
What major market segments define the scope and growth of the ai in project management market?
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
Subsegments:
1) By Solutions: Project Planning And Scheduling Tools, Resource Management Software, Risk Management Solutions, Collaboration And Communication Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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Which region dominates the ai in project management market?
North America was the largest region in the AI in project management market in 2024. 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
Which key market leaders are driving the ai in project management industry growth?
Major companies operating in the AI in project management market include 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.
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What Is Covered In The AI in Project Management Global Market Report?
• Market Size Forecast: Examine the ai in project management market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai in project management market for a structured understanding.
• Key Players Overview: Analyze major players in the ai in project management market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in project management market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai in project management market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in project management market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai in project management market.
• Competitive Landscape: Review strategic developments in the ai in project management market, including expansions, agreements, and new product launches.
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