Table of Contents
“According to Market.us, By 2026, the online project management software market is expected to be worth $9.81 billion. & Only 23% of organizations use project management software.”
Project Management Statistics
- More than half of all projects fail.
- Jira leads the market for the project management industry with a 42.09% percentage of the market.
- Only 39% of organizations offer training.
- The market for management software is expected to reach $9.81 billion by 2026.
- Project managers make an average of $92,274 per year.
- PRINCE2 is the least widely used methodology.
- Team communication improves by 52% when management software is used.
Project Management Facts
According to 42% of survey respondents, their organizations do not value project management.
Surprisingly, many businesses undervalue the importance of management. Those who do not include it in their approach report a 50% failure rate.
The project management industry was worth $4.2 billion in 2019.
According to project management statistics and estimates, the industry is promising and growing at a rate of more than 13.4% per year from 2020 to 2027.
The project management software market will be worth $9.81 billion by 2026.
It should come as no surprise that the management software sector is booming. To mention a few advantages, it boosts productivity, cooperation, organization, and time management. Microsoft, Asana, Trello, and Wrike are among the well-known participants, according to management data. (Intelligence from Mordor)
Only 23% of firms use project management software.
Despite the fact that project management software includes all of the functions required for properly planning a project, managing resources, and communicating with the team, adoption rates are low. According to companies, the main criteria driving PM software purchases are functionality, pricing, and ease of use.
The project management software industry will increase at a CAGR of 10.6% between 2021 and 2026.
Companies are becoming larger and more complicated, necessitating the hiring of someone to oversee their entire project portfolio. Project management software supports teams in completing projects. According to the latest recent figures, the PM software business will be worth $5.37 billion in 2020.
Jira controls 42.09% of the project management software market.
There are 127,924 firms in the industry worldwide. Jira is the most popular management software at the moment, accounting for 14.34% of the market, followed by Microsoft Project. Airtable is second with 5.13% of the vote.
Using project management software, the average manager saves 153 hours per year.
According to management data, management software saves the typical manager 10 minutes per day. These 10 minutes add up quickly, saving a total of 153 hours per year. While many managers say that investing in software is not worth it owing to the high expenses, the advantages will most likely outweigh the price.
A project management survey found that 89% of project managers believe their business employs hybrid management approaches.
Traditional and agile processes are generally assumed to be diametrically opposing approaches that compete with one another, however, that is not the case. Both nimble adaptability and traditional dependability are possible. When you combine these two, you develop a tailored approach for each project and increase project success rates.
93% of firms employ standard project management procedures to some extent.
All project managers should prioritize the development of techniques because they are the key to improved and more efficient performance. According to management statistics, investing in these techniques can save businesses up to 28 times more money.
Risk management practices are among the most often used by project managers.
According to Project Management Institute data, 26% of firms “always” utilize risk management strategies, 34% “sometimes,” and only 3% “never” use them.
PRINCE2 is the most widely used project management methodology among project managers.
The most popular methodologies employed by project managers, according to data, are integrated management, hybrid, agile, and waterfall. PRINCE2 is at the other end of the spectrum, with only 5% of businesses utilizing it.
61% offer continuing project-management training.
Executives are increasingly interested in PMP certification and training. The advantages of project management training are numerous, ranging from increased efficiency to better time management.
Over half of the organizations seek credentialed project managers to do their duties.
The most frequent credential in management is PMP, according to data. PRINCE2, SAFe CAPM, ITL, and CAPM are some more popular certifications. The certificates range based on the business, and certain positions may not require certification at all. A certificate is required if you wish to advance in your career.
Project Management Success Statistics
Project success rates can be increased by 70% with BPM software.
Gartner, a research grant, assessed 150 BPM initiatives and discovered that 95% of them were successful. Bottlenecks, a project manager’s worst nightmare, are eliminated using BPM software.
89 percent of high-performing firms complete their tasks.
When compared to high-performing firms, low-performing firms finish only 36% of their initiatives. According to management statistics, 60% of businesses believe that specified processes and practices are the keys to success.
A PwC study found that 97% of respondents believe project management is crucial to the growth and progress of their company.
Most projects are complex, requiring careful planning, organization, and monitoring. Project management ensures organizations have control and deliver outstanding results within project constraints.
Project Management Statistics
According to experts, the demand for project managers will continue well into 2030. 2 million management positions must be filled each year to meet the talent shortfall. Those who want to work in this sector must have a certification and a degree to further their careers.
They should also be mentally strong enough to deal with job insecurity and other concerns. According to building management statistics, the pandemic caused cancellations and delays. Hard and soft skills are equally vital for project managers who want to succeed in the face of adversity.
Project Management Job Outlook Statistics
- According to job profiles for 2021, the United States will have 603,120 Project Managers.
- The typical project manager in the United States is 46.6 years old.
- 60% of project managers in the United States are men, whereas just 36% are women.
- Between July 2020 and June 2021, the United Kingdom will have 306,300 project managers who are financial and business professionals. There are 79,400 IT project and program managers, 64,800 construction project managers, and related professionals on the other side.
- 36% keep their jobs for one or two years. The remaining 18% stay for three to five years.
- Fortune 500 corporations employ 29 percent of project managers in the United States. Technology firms were also among the top employers (15%). Companies that lend money (10%). Healthcare (6%) and telecommunications (6%) companies (5%).
- PMI projects that 25 million individuals will need to be trained in management by 2030 to meet global talent needs (PMI 2021).
- To close the skills gap, 2.3 million people will need to enter the sector each year.
- 61% of companies provide management education, and 47% offer a career path that is well-defined for project professionals.
- In the last 12 months, one out of five project managers considered leaving their current job.
- According to PMI (2020), 51% of organizations require that project professionals have a certification.
By Education and Salary
- Project Management Professionals (PMPs) earn 22% more than individuals who do not hold the PMP certification.
- According to Income.com (2021), the average yearly salary of a project manager in November 2021 was $68,188.
- A Bachelor’s Degree is held by 69% of project managers in the United States. Meanwhile, 18% have a master’s degree and 9% have an associate degree. Only 1% of the population holds a Ph.D.Those with a doctorate degree are the highest-paid project managers in the United States. These project managers earned a median annual salary of $121,283, compared to $113,249 for master’s degrees and $102,040 for bachelor’s degrees.
- In Switzerland, the highest-paid project managers earn an average salary of $140.983. The lowest-paid professionals in management are found in Pakistan, where their annual median salary is $13,803.
- In April 2020, 15 % of construction projects either were canceled or delayed because of COVID-19.
Most Popular Management Software
- Monday.com offers a visual platform to help teams plan, organize, monitor, and manage projects. Its intuitive and simple user interface allows for faster onboarding of your team. Our Monday.com product review will give you a full overview of its features.
- wrike a cloud collaboration and management software. It can provide real-time reporting and status updates for your projects. Wrike has many features that you can read about in our review.
- Smartsheet, a flexible project-management software, is suitable for any organization. The software has tools for planning, automating tasks, and producing reports to improve the efficiency of your team. Smartsheet has many features. Read our Smartsheet review to learn more.
- Asana helps you manage and track your projects all on one platform. It streamlines communication in your organization. You can also set up goals with your colleagues. Asana’s review will give you more details.
- Jira was designed for developers’ teams who need to plan, track software releases, and manage their workflow. It allows you to design a custom workflow that is tailored to the needs of your team. Jira is a great tool. You can find out more in our Jira evaluation.
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