AI in Project Management Global Market Report 2024

The AI in project management market size has grown rapidly in recent years. It will grow from $2.67 billion in 2023 to $3.14 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth observed in the historic period can be attributed to the adoption of Industry 4.0 practices, increased demand for better and more efficient project management solutions, the growth of the IT industry, rising per capita income, and globalization trends.

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 anticipated growth in the forecast period can be attributed to the rising need for quality inspection and automation, government initiatives supporting industrial automation and the integration of artificial intelligence, increasing investments in AI technology, the expansion of corporate sectors, and the growing adoption of machine learning. Major trends expected in the forecast period include the implementation of predictive analytics and risk management, AI-powered resource optimization, personalized communication and engagement, adaptive learning algorithms, and the emergence of advanced next-gen solutions in the field of AI-powered project management.

The significant expansion of various cloud operations is a substantial contributor to the anticipated growth of the AI in the project management market. Cloud operations encompass a spectrum of tasks related to managing workloads and delivering IT services across diverse cloud environments, including multi-cloud, hybrid, data center, and edge computing. In the context of project management, artificial intelligence (AI) accessed through cloud operations is increasingly utilized by companies embracing cloud technology. This application involves leveraging AI to handle project management data, schedule tasks, and automate processes, thereby enhancing decision-making and fostering efficiency in project development. An illustrative example is the data released by Eurostat in June 2022, indicating that the percentage of European Union companies using cloud computing services increased from 36% in 2020 to 41% in 2021. Among these companies, 73% utilized advanced cloud services for hosting databases, security software applications, or computing platforms, emphasizing the pivotal role of cloud operations in driving the growth of AI in the project management market.

The considerable rise in remote work arrangements is another significant factor contributing to the expected growth of AI in the project management market. Remote work arrangements involve employees performing their job responsibilities outside traditional office settings. This trend has spurred the adoption of AI in project management, as AI tools prove instrumental in bridging communication gaps, facilitating virtual collaboration, and ensuring the smooth progression of projects within distributed work environments. For instance, according to Forbes Media LLC in June 2023, approximately 12.7% of the U.S. workforce engages in remote work, with projections indicating that by 2025, around 32.6 million Americans, equivalent to approximately 22% of the workforce, are expected to be working remotely. This surge in remote work arrangements is a key driver propelling the growth of AI in the project management market.

Technological advancements emerge as a prominent trend gaining traction in the AI in project management market. Leading companies in this market are strategically expanding the scope of their artificial intelligence (AI) offerings, particularly in project management applications, extending to sectors such as construction. For instance, in February 2021, Oracle launched the Construction Intelligence Cloud Service, employing AI to analyze historical project data and offer tailored guidance for present and future initiatives. This AI advisor enhances decision-making by providing personalized recommendations based on a firm's previous scheduling and project data.

Major players in the AI in project management market are directing their efforts towards creating innovative solutions, with a particular focus on AI-powered risk managers. An AI-Powered Risk Manager is a sophisticated system or tool for risk management that harnesses the capabilities of artificial intelligence (AI) technologies to identify, assess, and mitigate risks across various domains. A case in point is Zepth, an India-based construction management software company that unveiled the 'AI Risk Manager' in December 2023. This innovative tool utilizes the capabilities of Artificial General Intelligence (AGI) and employs 40 AI agents. These agents actively identify potential risks, facilitate collaboration among themselves, conduct assessments regarding the likelihood and impact of risks, and contribute to the development of mitigation plans. Ultimately, this empowers project managers to make informed decisions based on data-driven insights.

In May 2021, Procore Technologies Inc., a US-based construction company, completed the acquisition of INDUS.AI for an undisclosed amount. This strategic move enriches the Procore platform with advanced computer vision capabilities. As a result, owners, general contractors, and specialist contractors in the construction sector can achieve heightened efficiencies, improved safety, and increased profitability. INDUS.AI, the acquired US-based developer of artificial intelligence (AI) for project management in construction, plays a crucial role in elevating Procore's technological capabilities and expanding its offering in the industry.

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.

North America was the largest region in the AI in project management market in 2023. 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. The countries covered in the AI in project management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main types of AI in project management are solutions and services. Solutions involve the implementation of software tools and services to address specific issues within an organization. AI solutions in project management offer tailored recommendations and generate personalized action plans for businesses by incorporating real-time projections and predictions to assess potential outcomes. Deployment models include cloud and on-premises, catering to various organization sizes such as large enterprises and small and medium enterprises. These AI applications span project scheduling and budgeting, data analytics, reporting and visualization, project support and administration, project data management, risk management, and project task management. The end-user industries include banking, financial services, and insurance (BFSI), retail and e-commerce, IT and telecom, government and defense, energy and utilities, among others.

The AI in project management market research report is one of a series of new reports that provides AI in project management market statistics, including AI in project management industry global market size, regional shares, competitors with a AI in project management market share, detailed AI in project management market segments, market trends and opportunities, and any further data you may need to thrive in the AI in project management industry. This AI in project management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The AI in project management market includes revenues earned by entities by providing complex project analytics, analyzing project key performance indicators, project prioritization, workflow management, resource allocation, and support documentation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.