Press release
AI in Project Management Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
AI in Project Management Market
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.
Market Overview -
AI in project management involves leveraging artificial intelligence technologies and algorithms to optimize project management processes, automate tasks, and enhance decision-making. AI helps to streamline operations, improve efficiency, and successfully deliver projects within set constraints such as time and budget while meeting the defined project objectives and acceptance criteria.
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Surge In Cloud Operations Propels The Growth Of AI In The Project Management Market
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.
Competitive Landscape -
Major companies operating in the ai in project management market report are 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.
The Integration Of AI In Construction Through Technological Advancements
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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