AI in Project Management Market by Component, Application, Deployment Mode, Organization Size, Vertical

Description

List of Tables

[196 Pages Report] 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.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.57 billion
Estimated Year [2024]	USD 4.33 billion
Forecast Year [2030]	USD 14.11 billion
CAGR (%)	21.65%

Component: Consumers preference for solutions available in customized forms as per requirement

AI services are specialized offerings to integrate intelligent algorithms and machine learning capabilities into project management processes. AI solutions are pre-built software applications that leverage AI technologies to enhance project management functions. The primary difference between AI services and solutions lies in their customization levels. While services involve bespoke implementations tailored to specific organization needs, solutions offer pre-built features usable out-of-the-box.

Application: Increasing use of AI for data analytics for enhancing productivity

The need for efficient data analytics, reporting, and visualization in project management has grown significantly with the increasing complexity of projects. Effective project data management is crucial for maintaining accuracy, consistency, and security across different stages of a project lifecycle. Project scheduling and budgeting require accurately estimating resources, deadlines, and potential risks. AI-enabled chatbots are increasingly used for project support and administration, responding instantly to routine queries. These chatbots enable team members to focus on more complex tasks while improving organizational communication. AI-driven task management tools offer powerful automation features that help prioritize tasks based on factors such as deadlines and dependencies. These tools ensure efficient allocation of resources and completion of critical tasks on time. Optimizing resource allocation is vital for maximizing productivity and minimizing costs. Effective risk management involves identifying potential risks early and proactively mitigating them.

Deployment: Expansion of On-cloud deployment of AI-enabled project management

On-cloud deployment of AI in project management refers to using web-based platforms that host and manage software applications on remote servers. Users access these services through their browsers without installing any additional hardware or software on their devices. On-premises deployment involves installing software directly onto an organization's servers at their physical location. This deployment mode gives companies complete control over their data and infrastructure. On-cloud solutions are generally more cost-effective and scalable whereas on-premises options offer greater control over data and infrastructure.

Vertical: AI usage in construction & engineering project management to improve grid flexibility by predicting outages more accurately

BFSI organizations prefer AI for risk assessment, fraud detection, customer service improvement, and resource allocation. In the construction and engineering sector, AI enhances project planning, resource optimization, safety monitoring, and predictive maintenance. AI is highly sought-after by government agencies for cybersecurity measures to protect sensitive data from potential breaches and optimize logistics processes for disaster response efforts utilizing tools. In healthcare, AI is deployed for drug discovery, diagnostics, personalized medicine, and patient care coordination. Manufacturing industries use AI for process automation, production optimization, predictive maintenance, quality control, and smart logistics management through manufacturers. AI benefits retailers with customer segmentation analytics, inventory management, dynamic pricing strategies, and chatbot support from leading solution providers.

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.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the AI in Project Management Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis 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: 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 examination of the current state of vendors in the AI in Project Management Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. 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 this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the AI in Project Management Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the AI in Project Management Market?

3. What are the technology trends and regulatory frameworks in the AI in Project Management Market?

4. What is the market share of the leading vendors in the AI in Project Management Market?

5. Which modes and strategic moves are suitable for entering the AI in Project Management Market?

Product Code: MRR-961BA04A2DA5

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising automation to improve project portfolio management applications for better decision-making in businesses
  - 5.1.1.2. Increasing adoption of AI-based tools for meeting planning to conduct administrative tasks
  - 5.1.1.3. Growing number of startups leading to increased utilization of AI in project management
- 5.1.2. Restraints
  - 5.1.2.1. High cost for the implementation of AI in project management
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of AI-powered chatbots to provide advanced applications in project management
  - 5.1.3.2. Introduction of AI camera and AI-based analytics to reduce the time in mapping of project sites
- 5.1.4. Challenges
  - 5.1.4.1. Compliance and data security issues associated with AI in project management
5.2. Market Segmentation Analysis
- 5.2.1. Component: Consumers preference for solutions available in customized forms as per requirement
- 5.2.2. Application: Increasing use of AI for data analytics for enhancing productivity
- 5.2.3. Deployment: Expansion of On-cloud deployment of AI-enabled project management
- 5.2.4. Vertical: AI usage in construction & engineering project management to improve grid flexibility by predicting outages more accurately
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. AI in Project Management Market, by Component

6.1. Introduction
6.2. Services
6.3. Solutions

7. AI in Project Management Market, by Application

7.1. Introduction
7.2. Data Analytics, Reporting & Visualization
7.3. Project Data Management
7.4. Project Scheduling & Budgeting
7.5. Project Support & Administration
7.6. Project Task Management, Automation & Prioritization
7.7. Resource Allocation
7.8. Risk Management

8. AI in Project Management Market, by Deployment Mode

8.1. Introduction
8.2. On-Cloud
8.3. On-Premises

9. AI in Project Management Market, by Organization Size

9.1. Introduction
9.2. Large Enterprises
9.3. Small & Medium-Sized Enterprises

10. AI in Project Management Market, by Vertical

10.1. Introduction
10.2. Banking, Financial Services & Insurance
10.3. Construction & Engineering
10.4. Energy & Utilities
10.5. Government & Defense
10.6. Healthcare & Life Sciences
10.7. Manufacturing
10.8. Retail & eCommerce
10.9. Telecommunications

11. Americas AI in Project Management Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific AI in Project Management Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa AI in Project Management Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Zenhub Brings AI to Project Management for Software Development Teams
- 14.3.2. Kanban Tool Launches Its Ai Assistant To Make Project Management Smarter And More Efficient
- 14.3.3. Disperse.io Launches AI-Based Construction Planning Tool
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio