The AI in project management market is projected to expand from USD 2.5 billion in 2023 to USD 5.7 billion by 2028, with an expected CAGR of 17.3% over the forecast period. AI and machine learning platforms enhance a project’s commercial visibility from inception to completion, enabling management teams to take faster action when risks arise, well before they threaten project success. By leveraging machine learning and predictive analytics, AI in project management supports more accurate insights into potential outcomes, leading to better, faster decision-making.
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Cloud deployment to account for higher CAGR during the forecast period
The market for AI in project management is bifurcated into cloud and on-premises deployment. The market size for the cloud deployment option is anticipated to be greater and to grow at a faster rate throughout the forecast period. In recent years, cloud computing has become increasingly popular as internet connections have improved, and remote work has become more common. Organizations are building teams across the countries to enhance their project deliverables. Installing and supporting traditional software can be very challenging for a decentralized team, but with cloud-based software, anyone can access the solution remotely.
SMEs to account for higher CAGR during the forecast period
The market for AI in project management is bifurcated based on organization size into large enterprises and SMEs. The CAGR of SMEs is estimated to be highest during the forecast period. Organizations with employee numbers ranging between 1 and 999 are categorized under SMEs. It is very crucial for SMEs to focus on their projects as it dramatically impacts the business. Various business models and frameworks are used by organizations across industries. However, there is still a lack of a single robust roadmap dedicated to SMEs. It combines the applicable concepts of project management and AI techniques simultaneously and provides SMEs with integrated features to assist them in prioritizing and managing business projects.
Asia Pacific to exhibit the highest CAGR during the forecast period
The CAGR of Asia Pacific is estimated to be highest during the forecast period. The market demand for AI in project management is estimated to expand due to the rising acceptance of cloud deployment services by small and medium-sized businesses (SMEs) and the higher prevalence of connected devices in emerging economies. Major market participants have increased their investment in research & development, resulting in the creation of novel solutions, including project management tools based on mobile applications, opening the potential for the sector’s future expansion.
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Unique Features in the AI in Project Management Market
AI in project management leverages predictive analytics to anticipate potential risks and project challenges early on. By analyzing historical and real-time data, AI tools can forecast issues such as budget overruns, timeline delays, and resource constraints, allowing project managers to take proactive measures.
One standout feature of AI in project management is automated task management, which optimizes resource allocation based on project needs and deadlines. AI-driven platforms analyze team availability, skill sets, and workload distribution to assign tasks more efficiently, reducing the burden on project managers and maximizing productivity across teams.
AI tools provide data-driven insights that support better decision-making throughout the project lifecycle. By using machine learning algorithms to analyze large datasets, AI platforms offer real-time insights into project performance, financial health, and team dynamics.
AI in project management often includes Natural Language Processing (NLP) capabilities, which improve communication within teams and stakeholders. NLP tools can analyze and interpret project-related documents, emails, and chat messages to identify key themes, potential issues, and action items.
AI-driven project management platforms offer dynamic scheduling that automatically adjusts timelines based on real-time changes in project scope, resource availability, or unexpected disruptions. This flexibility ensures that project plans remain up-to-date and adapt to evolving conditions, helping teams stay on track and meet deadlines more consistently.
Major Highlights of the AI in Project Management Market
The AI in project management market is witnessing rapid growth as organizations increasingly integrate AI-driven solutions to enhance efficiency and decision-making. With AI’s ability to streamline workflows, predict project outcomes, and automate tasks, its adoption in project management is transforming traditional practices and supporting more agile, data-informed project delivery across industries.
A significant highlight of this market is the shift from descriptive to predictive and prescriptive analytics. AI tools now not only provide insights into what has happened but also predict what could happen and recommend actions to optimize outcomes.
AI in project management introduces automation of repetitive tasks, such as scheduling, data entry, and progress reporting, enabling teams to focus on higher-level strategic activities. This automation boosts team productivity, reduces human error, and accelerates project timelines.
AI-powered tools are enabling optimized resource allocation by analyzing team capacities, skill sets, and availability to match the right people with the right tasks. This feature ensures a balanced workload, reducing burnout and maximizing team productivity.
AI-driven platforms support better communication and transparency with stakeholders by automating reporting and providing real-time project insights. These platforms deliver accurate data visualizations, progress reports, and predictive insights, allowing stakeholders to stay informed and aligned with project objectives.
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Top Companies in the AI in Project Management Market
Major vendors in the global AI in Project Management market are IBM (US), Oracle (US), Hitachi (Japan), Adobe (US), Microsoft (US), TIS (Japan), ServiceNow (US), Atlassian (Australia), Alice Technologies (US), Aitheon (US), PMaspire (Singapore), Forecast (UK), ClickUp (US), Zoho (India), ProofHub (US), Azeendo (France), Bubblz (France), Lili.ai (France), RationalPlan (Romania), ClearStrategy (Ireland), Saviom (Australia), CodeComplete (Japan), monday.com (Israel), ImageGrafix (UAE), Orangescrum (US), Smartsheet (US), PSOhub (Netherlands), Bitrix24 (US), Asana (US), and Wrike (US).
IBM (US): The International Business Machines Corporation (IBM), an American multinational technology corporation, was incorporated in 1911 and is headquartered in Armonk, New York. It is majorly known for its hardware, middleware, and software products and provides consulting and technology services such as cloud computing, data analytics, and artificial intelligence (AI). IBM’s product portfolio includes IBM Engineering Lifecycle Management, IBM Engineering Requirements Management DOORS Next, IBM Engineering Workflow Management, and IBM Cloud Pak for Data. Within Data & AI, IBM has a strong performance in project management offerings. It enables the company to take advantage of AI-powered technologies. It has a presence in more than 175 countries in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Hitachi (Japan): Hitachi Ltd. operates in various sectors, such as engineering and electronics, nuclear, transportation, and industrial systems. The company manufactures and sells information and telecommunication systems, power systems, social and industrial systems, construction machinery, electronic systems and equipment, automotive systems, and smart life and eco-friendly systems. Its products and services find application in various markets, including manufacturing, communications, finance, healthcare & life science, government, energy & transportation, distribution, industry, and urban. Hitachi caters its services to the global automobile, aerospace, nuclear, and computer industries. It operates through affiliates, subsidiaries, associates, and joint ventures in Asia, North America, and Europe.
Smartsheet (US): Smartsheet has over 3,000 employees and has customers in 190 countries. The company provides professional services. The Smartsheet platform provides various capabilities such as team collaboration, workflow automation, content management, portfolio management at scale, secure request management, integrations, streamlined business apps, governance & administration, intelligent workflows, resource management, and digital asset management. It caters to IT & Ops, construction, healthcare & life sciences, education, financial services, telecommunication, media & entertainment, energy & utilities, manufacturing, retail, and state and local government. With the help of Smartsheet Inc.’s cloud-based work execution platform, teams, and organizations can plan, capture, manage, automate, and report on work at a scale that leads to more effective business operations. It offers various services, including streamlining facility management, managing customer experiences, managing budgets and planning, and other relevant ones. Most of the company’s income comes from subscriptions. Geographically, it operates in the Americas, Europe, and Asia. The US accounted for most of its revenue generation.
Microsoft (US): Founded by Bill Gates and Paul Allen in 1975, Microsoft Corporation is a global technology leader headquartered in Redmond, Washington. It is renowned for its software products, including the Windows operating system, Microsoft Office suite, and Edge web browser. Microsoft has also made significant strides in hardware with products like the Xbox gaming console and Surface tablets, as well as in cloud computing with its Azure platform. Under CEO Satya Nadella, Microsoft has achieved a market cap exceeding $2 trillion, with annual revenues surpassing $180 billion and a workforce of over 220,000 employees worldwide.
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