The Asia Pacific AI in Project Management Market would witness market growth of 18.2% CAGR during the forecast period (2022-2028).
In today's industry, human labor is still largely utilized. With the exclusion of a few tasks that demand an incredibly high level of precision and can only be performed by human experts, robots are currently capable of performing many challenging tasks, leading to an increase in factory automation. Future manufacturing may be mostly taken over by robots that are adaptable enough to work alongside people. With minimal human involvement, they will be able to function in a variety of environments.
Robotics can be utilized by manufacturers to assist in the design of complex strategies as well as manufacturing processes. This increasing automation of industries has led to the incorporation of technology in project management tasks as well. In order to collect data, manage data, and use this data for better decision-making, more and more enterprises are employing Ai applications in project management. As a result, AI technologies have enhanced decision-making and data integrity within systems. To enhance their company plan, all firms rely on data and judgments.
Making insightful judgments is simpler when the system has solid data. AI provides insights from data that humans can't access as quickly, allowing them to use these insights to make better judgments, prevent inefficient resource allocation, and expedite portfolio management. All administrative tasks can be successfully replaced by AI. The technology may anticipate AI taking over all administrative jobs as these functions develop and AI-powered solutions advance. Project managers can handle more important duties and increase their productivity. An organization can benefit more from a project manager's skill set when applied to more important responsibilities.
The pace of AI adoption and research in China is anticipated to increase as more big Chinese AI firms adopt open sourcing opening the door for innovation. Engineers can concentrate on their model's elevated structure without becoming mired in the details of its underlying procedures with the help of a ready-made and optimized framework. In addition, the government is hastening the creation of new infrastructure projects like 5G networks and data centers to provide information services for the expanding market. All of these factors aid in using AI technologies across various sectors. During the forecast period, the government's favorable opportunities would accelerate regional market growth.
The China market dominated the Asia Pacific AI in Project Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $404.1 million by 2028. The Japan market is estimated to grow a CAGR of 17.5% during (2022 - 2028). Additionally, The India market would experience a CAGR of 18.9% during (2022 - 2028).
Based on Application, the market is segmented into Project Data Management, Project Scheduling & Budgeting, Project Monitoring, Support & Administration, Resource Allocation, Planning & Forecasting, Risk Management, Data Analytics, Reporting & Visualization and Others. Based on Vertical, the market is segmented into Telecom, IT & ITeS, Construction & Engineering, Government & Defense, BFSI, Healthcare & Life Sciences, Retail & eCommerce, Energy & Utilities, Manufacturing and Others. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Component, the market is segmented into Solution (Predictive Analytics, Robotic Process Automation, Speech Recognition and Chatbots & Intelligent Virtual Assistant) and Services. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide AI in Project Management Market is Projected to reach USD 5.5 Billion by 2028, at a CAGR of 17.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Hitachi, Ltd. (Hitachi Energy Ltd.), Oracle Corporation, Adobe, Inc., Microsoft Corporation, ServiceNow, Inc., Atlassian Corporation PLC, PMaspire Singapore PTE Ltd., ALICE Technologies, Inc. and Aitheon.
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