Global Artificial intelligence in Supply Chain Market is valued at USD 2.31 Billion in 2021 and expected to reach USD 31.70 Billion by 2028 with a CAGR of 45.4% over the forecast period.
Global Artificial intelligence in supply chain Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: The rapid increase in internet penetration, particularly in establishing economies, the growing emphasis on enhancing organizational achievement and operational effectiveness, and the soaring implementation of sophisticated innovations such as artificial intelligence by limited and medium businesses are the significant factors driving the expansion of AI technology in the supply chain market.
Artificial intelligence (AI) is a technique that enables robots, computers, and networks to rival in certain domains with human intellect and behaviors. A system controls the AI, which processes information and performs different tasks using complex algorithms. Across the supply chain, artificial intelligence may be applied in several ways, involving information collection, data processing, supply and sales forecasting, and autonomous car monitoring. It may also get insight into warehouse operations in order to optimize item shipping, collecting, storing, sorting, and administration. Improving logistics may be accomplished by streamlining warehouse management and delivery. AI-based technologies may help businesses enhance supply control efficiency and reliability. End-to-end visibility, forecasting approaches, quickly evolved optimization, integrated enterprise strategy, and dimensional wave robotics are among a few examples.
Because of the worldwide shutdown caused by the COVID-19 virus, the marketplace has dropped the most, resulting in lack of raw resources and working specialists. Lockdowns have thrown the world's companies into disarray. Most of the market's key sectors are suffering a capital shortage. As a consequence, expenditure on the creation of AI solutions has decreased. Moreover, a shortage of trained individuals in the workplace has been a key reason for the long-term reduction of Artificial Intelligence (AI) in supply chain market revenues. Nevertheless, social distancing methods are expected to increase the likelihood of AI gadgets being utilized increasingly than ever before in the future.
The global artificial intelligence in supply chain market is segmented based on technology, type, application, end-use, and region & country level. Based on technology, the global market is segmented into natural language processing, machine learning, context-aware computing, computer vision, and others. By type, the market is segmented into software, hardware, and service. By application, the global artificial intelligence in supply chain market is segmented into supply chain planning, fleet management, virtual assistant, warehouse management, risk management, freight brokerage, and others. By end-use, the global market is segmented into aerospace, automotive, retail, manufacturing, consumer-packaged goods, healthcare, food and beverages, others.
The regions covered in the global artificial intelligence in supply chain market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Artificial intelligence in supply chain is sub divided into the U.S., Mexico, Canada, the U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Key Players of Global Artificial intelligence in supply chain Market Report-
Some major players for the global Artificial intelligence in supply chain market report cover prominent companies like
On January 24, 2022; Verte, a pioneer in supply chain transparency, announced the availability of additional AI technologies on its online supply chain system. Artificial intelligence is transforming the supply chain, and in today's e-commerce world, all enterprises must have a network with smooth, real-time communication.
On November 22, 2022; 3SC Solutions, located in Gurugram, has unveiled the debut of SCAI, an intelligent supply chain management and implementation platform that would assist companies in better managing their distribution networks for their goods and services. This all-in-one platform assists customers in developing synchronous and robust distribution networks, as well as improving efficiency, driving profitability, reducing waste, and operating more responsibly.
On February 14th, 2022; 7bridges, a British company, unveiled an AI-powered logistical system designed to simplify the logistics distribution network. It integrates information from a company's supply chain, management, and transportation to provide the best suggestions for transferring items to a client. Users may use 7bridges AI technology to develop and execute novel fulfillment methods, rapidly expand businesses in new areas and product categories, and respond promptly to supplier and demand disruptions.
The growing digitization of economies, especially those of developing countries, will develop as a crucial industry growth factor. The increasing demand for further awareness and openness in inventory chain and transportation records, along with the increasing creation of huge volumes of information and details, increasing implementation by limited and middle-companies, as well as the bolstering IT sector in emerging markets including India as well as China, will amplify market growth. Additional factors driving market growth include the increasing popularity of cloud-based solutions and an expanding set of favorable regulatory regulations.
The industrial 4.0 transformation accelerated the creation of novel automation techniques, robots, Big data, the Internet of Things (IoT), artificial intelligence, machine learning (ML), and analytics, resulting in fast technological acceptance in warehouse management. As a result of the introduction of Industry 4.0, distribution network mechanisms are evolving via the use of digitalization, robotics, and centralized business information platforms. Importantly, these solutions rely heavily on cloud technology to improve service agility and reaction time. Moreover, the inclusion of AI and IoT in industrial processes is altering the rate of supply chain administration change. As a consequence, supply chain progress is apparent at every level of production, procurement, transportation, storage, and fulfillment, making organizations with unified digitized supplier chain activities considerably more effective than their predecessors.
Nevertheless, in impoverished and developing countries, a lack of technical competency would act as a development impediment for the business. Furthermore, a labor shortage and growing labor prices would restrict the market's growth rate once further. The absence of adequate facilities in developing nations, as well as the challenges associated with AI programming would further slow the market's development pace.
The artificial intelligence in supply chain market is likely to be dominated by North American. The increasing use of machine learning in the supply chain may be ascribed to increased government activities promoting and deploying AI technologies. Moreover, the expansion of the e-commerce industry in nations such as the United States and Canada, increasing securities in AI innovation for enhanced productivity, the requirement for improved supply chain planning, and an increase in the quantity of real-time stock levels are all contributing to the expansion of the AI innovations economy in the supply chain business sector in this area.
The Asia-Pacific area is booming in every sector, particularly consumer goods, network infrastructure, industrial development, and purchasing power. Government proposals to promote and implement AI applications, the expansion of the e-industry in nations such as China and India, increasing assets in AI innovation for enhanced efficiency, the requirement to improve supply chain governance, and an increase in the capacity of real-time stock information are all donating to the development of the AI innovations industry in the distribution network sector in this area. Companies in this area are rapidly viewing digital supply chain technology to be revolutionary and vitally crucial for the future viability of their enterprises, as the necessity to digitize firms grow. During the projected period, all of these factors are expected to boost AI in supply chain market development.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 2.31 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||45.4%|
|Market Size Expected in 2028:||USD 31.70 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Intel Corporation, Amazon.com, Inc., ClearMetalInc, Deutsche Post AG DHL, FedEx, General Electric, Google LLC, IBM Corporation, Lamasoft Inc., Micron Technology, Inc., Microsoft Corporation, Nvidia Corporation, Oracle Corporation, Samsung (South Korea), SAP, and Xilinx.|
|Segments Covered||By Technology, By Type, By Application, By End-User.|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa|
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