AI in Project Management Market by Component (Services, Solutions), Application (Data Analytics, Reporting & Visualization, Project Data Management, Project Scheduling & Budgeting), Deployment Mode, Organization Size, Vertical - Global Forecast 2024-2030

AI in Project Management Market by Component (Services, Solutions), Application (Data Analytics, Reporting & Visualization, Project Data Management, Project Scheduling & Budgeting), Deployment Mode, Organization Size, Vertical - Global Forecast 2024-2030

The AI in Project Management Market size was estimated at USD 3.57 billion in 2023 and expected to reach USD 4.33 billion in 2024, at a CAGR 21.65% to reach USD 14.11 billion by 2030.

The AI in Project Management includes integrating artificial intelligence technologies into project management platforms, tools, and processes to enhance productivity, efficiency, decision-making accuracy, and overall performance. This market has stakeholders such as software developers, service providers, and end-users such as corporations, SMEs, government agencies, and non-profit organizations across different industries. The increasing demand for efficient project management techniques is due to rising automation to improve project portfolio management applications for better business decision-making. Additionally, the growing adoption of AI-based tools for meeting planning to conduct administrative tasks is driving AI in the project management market. However, the high cost of implementing AI in project management and concerns related to data security issues associated with AI cause project delays, hampering the market growth. Emerging AI-powered chatbots to provide advanced applications in project management and the introduction of AI cameras and AI-based analytics to reduce the time spent mapping project sites is a potential opportunity for the market.

Regional Insights

In Americas, the adoption of AI-driven project management solutions has increased with the the rising demand of enhanced decision making, efficiency, and competitive advantage of the projects. Furthermore, American tech giants have also invested heavily in AI research and development to enhance their project management tools. In the European Union (EU), countries such as Germany, France, and the United Kingdom have shown a considerable interest in adopting advanced technologies for managing projects more efficiently. This region also witnessed rapid digital transformation across various sectors, including construction, finance, energy, and public administration. This has increased the demand for efficient project management tools powered by artificial intelligence. The Middle East region is witnessing rapid digital transformation across various sectors including construction, finance, energy, and public administration. Additionally, in Africa, advancements in telecommunication infrastructure have paved the way for technology-driven solutions across industries including agriculture, health care, education, and transportation. As a result, smart project management systems using AI technologies are gaining traction in the region. In the APAC region, the government initiative is rising, focusing on integrating technologies such as artificial intelligence and big data into various sectors, including project management. Moreover, this region is witnessing increased adoption of AI-driven project management platforms among domestic and global companies operating in the region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the AI in Project Management Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising automation to improve project portfolio management applications for better decision-making in businesses
• Increasing adoption of AI-based tools for meeting planning to conduct administrative tasks
• Growing number of startups leading to increased utilization of AI in project management

Market Restraints

• High cost for the implementation of AI in project management

Market Opportunities

• Emergence of AI-powered chatbots to provide advanced applications in project management
• Introduction of AI camera and AI-based analytics to reduce the time in mapping of project sites

Market Challenges

• Compliance and data security issues associated with AI in project management

Market Segmentation Analysis

• Component: Consumers preference for solutions available in customized forms as per requirement
• Application: Increasing use of AI for data analytics for enhancing productivity
• Deployment: Expansion of On-cloud deployment of AI-enabled project management
• Vertical: AI usage in construction & engineering project management to improve grid flexibility by predicting outages more accurately

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the AI in Project Management Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the AI in Project Management Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Zenhub Brings AI to Project Management for Software Development Teams

Zenhub, the prominent software project management platform, has announced its strategy for integrating Artificial Intelligence (AI) into its product. The primary objective of this AI implementation is to streamline and optimize the everyday operations and administrative burden associated with software project management. By leveraging AI capabilities, Zenhub aims to revolutionize the project management experience, offering users a more efficient and effective solution.

Kanban Tool Launches Its Ai Assistant To Make Project Management Smarter And More Efficient

Kanban Tool has introduced an innovative AI Assistant feature for visual project management on Kanban boards. This groundbreaking feature incorporates AI technology to enhance user efficiency, enable better schedule management, and facilitate the achievement of project goals.

Disperse.io Launches AI-Based Construction Planning Tool

Disperse.io, a construction technology company based in the U.K., has recently introduced Impulse, a new product that utilizes Artificial Intelligence (AI) to empower project managers to make more informed decisions. Impulse showcases detected issues by analyzing 360° site scans conducted within its platform.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the AI in Project Management Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the AI in Project Management Market, highlighting leading vendors and their innovative profiles. These include Aitheon, Atlassian, Inc., Avenga International GmbH, BMC Software, Inc., ClearStrategy, ClickUp, Forecast ApS, Hitachi, Ltd., ImageGrafix Software Solutions Pvt. Ltd., International Business Machines Corporation, Kyndryl Inc., Levity AI GmbH, Lili.ai, Microsoft Corporation, monday.com Ltd., NICE Ltd., Oracle Corporation, PMaspire Singapore Pte. Ltd., ProofHub, LLC, Runai Labs Ltd., Saviom Software Pty. Ltd., ServiceNow, Inc., and Zoho Corporation Pvt. Ltd..

Market Segmentation & Coverage

This research report categorizes the AI in Project Management Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Component
• Services
• Consulting
• Deployment & Integration
• Support & Maintenance Services
• Solutions
• Chatbots & Intelligent Virtual Assistants
• Predictive Analytics
• Robotic Process Automation
• Speech Recognition
• Application
• Data Analytics, Reporting & Visualization
• Project Data Management
• Project Scheduling & Budgeting
• Project Support & Administration
• Project Task Management, Automation & Prioritization
• Resource Allocation
• Risk Management
• Deployment Mode
• On-Cloud
• On-Premises
• Organization Size
• Large Enterprises
• Small & Medium-Sized Enterprises
• Vertical
• Banking, Financial Services & Insurance
• Construction & Engineering
• Energy & Utilities
• Government & Defense
• Healthcare & Life Sciences
• Manufacturing
• Retail & eCommerce
• Telecommunications
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year