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The market for AI in project management is estimated to grow from USD 2.5 billion in 2023 to USD 5.7 billion by 2028, at a CAGR of 17.3% during the forecast period. Platforms for AI & machine learning have the ability to improve a project’s commercial visibility from the beginning to the end. Project management teams may take speedier action before hazards threaten project completion because of AI’s ability to recognize and anticipate issues far sooner. The application of AI in project management enables better, quicker decision-making by utilizing machine learning and predictive data analytics to deliver more accurate insights into potential outcomes.

Major AI in Project Management Companies Include

• IBM (US)
• Hitachi (Japan)
• Smartsheet (US)
• Microsoft (US)
• TIS (Japan)
• ServiceNow (US)
• Atlassian (Australia)
• Alice Technologies (US)

To know about the assumptions considered for the study download the pdf brochure

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.

TIS (Japan): Established in 1971 and headquartered in Tokyo, TIS Inc. is a prominent Japanese IT services company. It offers systems integration, software development, and consulting services, serving various industries such as financial services, manufacturing, and healthcare. Part of the TIS INTEC Group, TIS generates approximately ¥400 billion in annual revenue and employs over 20,000 people. Toru Kuwano leads the company as CEO, overseeing its market cap of around ¥700 billion.

ServiceNow (US): ServiceNow, Inc., based in Santa Clara, California, was founded by Fred Luddy in 2004. It specializes in cloud computing and provides a platform-as-a-service (PaaS) for enterprise IT operations, including IT service management (ITSM), IT operations management (ITOM), and IT business management (ITBM). CEO Bill McDermott helms the company, which boasts over $7 billion in annual revenue, a workforce of more than 20,000, and a market cap exceeding $100 billion. The Now Platform is central to ServiceNow's offerings, facilitating workflow automation and business process optimization.

Atlassian (Australia): Atlassian Corporation Plc, an Australian enterprise software company founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, is headquartered in Sydney, Australia, and incorporated in the UK. It develops tools for software development, project management, and content management, with popular products like Jira, Confluence, and Bitbucket. Atlassian's revenue surpasses $3 billion annually, supported by a workforce of over 8,000. The company’s market cap is over $50 billion, with Cannon-Brookes and Farquhar serving as co-CEOs.

Alice Technologies (US): Founded in 2015 and based in Menlo Park, California, Alice Technologies focuses on construction project management software. Its AI-powered platform helps project managers optimize construction schedules and resource allocations through simulation. CEO René Morkos leads the company, which employs between 100 and 200 people and has revenues in the tens of millions. As a private company, Alice Technologies' exact market valuation is not publicly disclosed.

Related Reports:

AI in Project Management Market by Component (Solution (Robotic Process Automation, Chatbots & Intelligent Virtual Assistants, Others), Service), Application, Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2028

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