With 70% of projects failing in the first 12 months, project managers face a number of challenges while managing projects.
Managing and completing projects is a lengthy task requiring much patience, soft skills, and time. Project management has evolved over the years, and many new trends are coming forward to help project managers in one way or another in 2024.
This article features some vital information and statistics regarding the project management industry, project management software, and challenges faced by project managers.
Top Project Management Statistics
- The global project management software market is projected to reach $15.06 billion by 2030.
- 70% of projects fail within the first year of starting.
- Around 87.7 million project managers will be needed by 2027.
- Jira has a 24.39% market share of the global project management software.
- Project managers in the U.S. have an average annual salary of $96,059.
- 39% of women and 57% of men have project management jobs in North America.
- 44.39% of project managers reported not having enough resources as a challenge.
Project Management Industry Statistics
Due to a considerable shift in how an organization works, the project management industry is prospering in 2024.
Project management is a vital part of any business. Organizations are developing and adopting several new project management methodologies.
This section will cover some important statistics about the project management industry.
Employers Will Require 87.7 Million Project Managers By 2027
Management and Professional Services sector will have 1.7 million job openings in project managing roles by 2027.
On the other hand, Information services and publishing organizations will have nearly 5.5 million new job openings due to expansion and attrition in project-oriented sectors.
Here is a table showing job openings due to expansion and attrition in project-oriented sectors from 2017–2027:
| Sector | Number of Job Openings |
|---|---|
| Manufacturing and Construction | 9.7 million |
| Information Services and Publishing | 5.5 million |
| Finance and Insurance | 4.6 million |
| Management and Professional Services | 1.7 million |
| Utilities | 279,000 |
| Oil and Gas | 49,000 |
Source: PMI
46% Of Organizations Place A High Priority On A Culture That Values Project Management
In contrast, around 70% of organizations support a culture that centers on delivering customer value.
A project’s success largely depends on an organization’s work culture. 53% of organizations invest in technology, and another 53% are receptive to organizational change.
Source: PMI
Most Project Managers Run Between Two And Five Projects
Around 59% of project managers work on 2 to 5 projects consecutively, while 15% work on one project at a time.
About 15% of project managers reported working on more than 10 projects simultaneously, and 11% worked on 6 to 10 projects concurrently.
Source: Rebels Guide To PM
40% Of Experienced Project Managers Reported Wanting A New Job
Certification is a project manager’s top goal. However, only 15% of experienced project managers report getting certification as their career goal.
About 18% of the project managers wanted to work on bigger projects, while 3% wanted recognition for their work.
Here is a table showing the career goals for experienced project managers as of 2021:
| Career Goal | Percentage of Experienced Project Managers |
|---|---|
| New Job | 40% |
| Bigger projects | 18% |
| Certification | 15% |
| Recognition | 3% |
| Other | 24% |
Source: Rebels Guide To PM
The United States Will Have 8.8 Million Project Management Jobs In Project-Oriented Industries By 2027
China is expected to have around 46 million projected management jobs in project-oriented industries by 2027. This represents the highest number of jobs globally.
With 21.7 million project management jobs, India will have the second-highest number of jobs in project-oriented industries.
Japan is expected to have around 3.8 million project management jobs, and Brazil will have 2.4 million jobs by 2027.
Here is a table showing the number of project management jobs in project-oriented industries by 2027:
| Country | Jobs in 2017 | Jobs by 2027 |
|---|---|---|
| China | 34.9 million | 46 million |
| India | 14.7 million | 21.7 million |
| United States | 6.7 million | 8.8 million |
| Japan | 3.4 million | 3.8 million |
| Brazil | 1.9 million | 2.4 million |
| Germany | 1.9 million | 2 million |
| United Kingdom | 1 million | 1.2 million |
| Canada | 69.,184 | 779,828 |
| Australia | 474,495 | 574,399 |
| Saudi Arabia | 201,127 | 228,077 |
| UAE | 73,352 | 93,861 |
Source: PMI
About 72% Of Women Have A Project Management Certification, While 76% Of Men Have A Certification
Nearly 37% of women have an academic degree in project management compared to 42% of men.
In addition, 57% of women have a PMP certification, and around 64% of men have a PMP certification.
Source: PMI
39% Of Females And 57% Of Males Hold Project Management Jobs In North America
Males dominate the project management job roles. The gender gap in project management roles is visible globally.
24% of females in Europe worked in project management, while 74% of males worked as project management professionals in 2023.
Here is a table showing the gender distribution of employees working in project management in top regions:
| Region | Females | Males |
|---|---|---|
| North America | 39% | 57% |
| Sub Saharan Africa | 29% | 71% |
| China | 25% | 71% |
| Latin America | 24% | 75% |
| Europe | 24% | 74% |
| South Asia | 15% | 84% |
| Asia Pacific | 14% | 85% |
| Middle East/ North Africa | 8% | 91% |
Source: PMI
41% Of Females And 59% Of Males Work As Project Managers In The Healthcare Sector
In the training and education sector, 37% of females and 62% of males reported working in managerial positions.
Conversely, around 86% of males work as project managers in the construction industry compared to 13% of females.
Around 69% of project managers in financial services are male, and 29% are female.
Here is a table showing the gender difference of project managers in different industries and sectors:
| Industry | Females | Males |
|---|---|---|
| Healthcare | 41% | 59% |
| Training and Education | 37% | 62% |
| Financial Services | 29% | 69% |
| Government | 26% | 72% |
| Consulting | 24% | 75% |
| Telecom | 22% | 77% |
| Information Technology | 20% | 78% |
| Automotive | 18% | 81% |
| Manufacturing | 17% | 81% |
| Aerospace | 17% | 82% |
| Energy | 17% | 83% |
| Transport / Logistics | 16% | 83% |
| Construction | 13% | 86% |
Source: PMI
Project Managers In The U.S. Have An Average Salary Of $96,059
After adding $10,754 as additional cash compensation, a project manager in the United States receives a total compensation of around $106,813 per year.
The median salary of a project manager in the U.S. is around $90,000, and the maximum salary is around $265,000.
Male project managers have an average salary of around $100,113, and females have a salary of $90,976.
Here is a table showing the average salary of professionals working in project management by job role as of 2024:
| Job Title | Average Salary |
|---|---|
| Project Coordinator | $65,423 |
| Implementation Specialist | $80,510 |
| Project Manager | $96,059 |
| Senior Business Analyst | $101,726 |
| Scrum Master | $108,026 |
| Implementation Manager | $112,491 |
| Technical Project Manager | $115,895 |
| Senior Project Manager | $130,648 |
Source: Builtin
Project Managers With Experience Of 5 To 7 Years Have An Average Salary of $106,999
Experience matters when it comes to managing projects and people.
Freshers or project managers with less than 1 year of experience have an average salary of around $76,182.
Project managers with 1 to 3 years of experience make $83,599 per year.
On the other hand, project managers with more than 7 years of experience have the highest average salary of around $105,795 per year.
Here is a table showing the salary range of project managers with respect to their years of experience as of 2024:
| Experience | Salary Range |
|---|---|
| Less than 1 year | $76,182 |
| 1 to 3 years | $83,599 |
| 3 to 5 years | $94,392 |
| 5 to 7 years | $106,999 |
| More than 7 years | $105,795 |
Source: Builtin
Project Managers In San Francisco Have The Highest Salary Of $116,305
This is the highest salary that a project manager earns in the United States, 21% higher than the national average salary.
With an average salary of $115,525, Cincinnati has the second-highest project manager salary in the U.S.
Project managers working remotely in the U.S. have an average salary of around $108,817, 16% more than the national average.
Here is a table showing the salaries of project managers in top cities of the U.S.:
| City | Average Salary | Increase from National Average |
|---|---|---|
| San Francisco, CA | $116,305 | 21% |
| Cincinnati, OH | $115,525 | 21% |
| San Diego, CA | $114,278 | 20% |
| Colorado, CO | $114,261 | 20% |
| Remote | $108,817 | 16% |
| Columbus, OH | $108,000 | 15% |
| Pittsburgh, PA | $104,930 | 13% |
| Los Angeles, CA | $104,266 | 12% |
| Orange County | $103,750 | 12% |
| Philadelphia, PA | $102,285 | 11% |
Source: Builtin
Project Management Software Statistics
With digital advancements in the past decade, the use of project management software has increased significantly.
Project management software helps managers to attain smooth workflows and run things more efficiently.
This section discusses some statistics about the project management software industry.
The Global Project Management Software Market Size Is Expected To Reach $15.06 Billion By 2030
The global project management software market size was valued at over $6 billion in 2021.
With an expected CAGR of around 10.77% between 2022 and 2030, the market is projected to reach $8.19 billion by the end of 2024.
The project management software market is projected to cross the $10 billion mark in 2026.
Here is a table showing the growth of the global project management software market size over the years:
| Year | Market Value |
|---|---|
| 2030* | $15.06 billion |
| 2029* | $13.65 billion |
| 2028* | $12.31 billion |
| 2027* | $11.11 billion |
| 2026* | $10.04 billion |
| 2025* | $9.07 billion |
| 2024* | $8.19 billion |
| 2023* | $7.39 billion |
| 2022* | $6.64 billion |
| 2021 | $6 billion |
Source: Straits Research *Projected numbers calculated considering a CAGR of 10.77%
Around 23% Of Managing Activities Are Done With AI
Nearly 60% of organizations have deployed AI, and around 23% of managerial activities were done through AI in 2019.
It was expected that the use of AI in project management would increase to over 37% by 2022.
Source: PMI
Jira Has 24.39% Market Share Of The Project Management Software
Around 52,427 companies use Jira as a project management software. 30,277 companies use Microsoft Project, which has a 14.08% market share.
With a market share of around 7.62%, 16,378 companies use Kanban for project management.
Asana has a 4.99% market share of project management software, and Airtable has a 7.26% market share.
Here is a table showing the market share of top project management software as of 2024:
| Project Management Software | Number of Companies Using | Market Share |
|---|---|---|
| Jira | 52,427 | 24.39% |
| Microsoft Project | 30,277 | 14.08% |
| Kanban | 16,378 | 7.62% |
| Airtable | 15,606 | 7.26% |
| Smartsheet | 13,535 | 6.30% |
| Asana | 10,724 | 4.99% |
| Notion Software | 8,635 | 4.02% |
| monday.com | 7,428 | 3.46% |
| Hive | 6,027 | 2.80% |
| Trello | 5,263 | 2.45% |
Source: Datanyze
Using Project Management Software Helps Improve Communication By 52%
Lack of communication is a major challenge faced by project managers. Poor communication is the root cause of 30% of project failures.
The use of project management software has helped increase transparency between the teams by improving communication by more than 50%.
44% of teams using project management software helped in improving the quality of the final product, and 38% reported improved customer satisfaction.
Source: Proofhub
Project Management Challenges
Since project management is the most important activity for an organization’s working and success, project managers face a number of challenges while running a project.
This section will cover some noteworthy statistics about project management challenges.
70% Of All Projects Fail Within A Year
However, only around 2.5% of companies succeed in all their projects.
Statistics suggest that for every $1 billion invested in the United States, around $122 million is wasted due to poor project performance.
Further, about 50% of project managers reported that their project failed to consistently achieve what they set out to achieve from the beginning.
Source: LinkedIn
66% Of Technology Projects End In Partial Or Total Failure
Almost 31% of United States IT projects were completely canceled, and around 53% of projects were so underperforming that they were challenged.
Large-scale projects have a success rate of under 10%. Approximately 17% of large IT projects fail so badly that they put the company’s existence at risk.
Source: LinkedIn
40% Of Projects Fail Due To Changing Priorities Within The Organization
The cause of project failures varies from the type of project to many other reasons.
38% of projects failed due to inaccurate requirements, while 35% failed due to changes in project objectives.
Poor communication is the cause of failure for 30% of projects, while limited sources result in failure for 20% of projects.
Here is a table showing the most common causes of project failures:
| Cause | Percentage of Project Failures |
|---|---|
| Changing priorities within the organization | 40% |
| Inaccurate requirements | 38% |
| Change in project objectives | 35% |
| Undefined risks | 30% |
| Poor communication | 30% |
| Poor communication | 30% |
| Inadequate sponsor support | 29% |
| Inadequate cost estimates | 29% |
| Inaccurate task time estimate | 27% |
| Resource dependency | 25% |
| Inexperienced project manager | 20% |
| Limited resources | 20% |
| Procrastination within team | 13% |
| Task dependency | 11% |
Source: Project Management Works
Not Having Enough Resources Is A Challenge Faced By 44.39% Project Managers
A survey conducted in 2023 among 217 project management professionals concluded that not having the right resources is a challenge for 25.85% of project managers.
16.59% of project managers reported not having enough project budget as a challenge.
Unrealistic deadlines are a challenge faced by 31.22% of project managers, and improper scheduling is reported by 11.22% of project managers.
The table below shows the biggest challenges faced by project managers currently:
| Reason | Percentage of Project Managers |
|---|---|
| Not enough resources | 44.39% |
| Unrealistic deadlines | 31.22% |
| No proper resources | 25.85% |
| Not enough budget | 16.59% |
| Poor quality of product | 12.68% |
| Improper scheduling | 11.22% |
| Something else | 16.59% |
Source: Rebels Guide To PM
More Statistics Read:
Conclusion: Global Project Management Software Market Size Is Expected To Reach $15.09 Billion By 2030
With a generation of the workforce retiring, the project management sector is set to produce 87.7 million new jobs by 2027, and the market size is expected to grow immensely in the coming years.
Besides better managing capabilities, project managers use project management software to increase productivity and efficiency.
These were the most important statistics about the project management industry, project management software, and challenges faced by project managers.
