The Artificial Intelligence In Supply Chain Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence In Supply Chain Global Market Report 2024, The artificial intelligence in supply chain market size has grown exponentially in recent years. It will grow from $3.39 billion in 2023 to $5 billion in 2024 at a compound annual growth rate (CAGR) of 47.6%. The growth in the historic period can be attributed to globalization, increasing complexity in supply chain networks, rising customer expectations, growth of e-commerce, demand for real-time information.
The artificial intelligence in supply chain market size is expected to see exponential growth in the next few years. It will grow to $21.35 billion in 2028 at a compound annual growth rate (CAGR) of 43.7%. The growth in the forecast period can be attributed to demand for predictive analytics in supply chain management, increasing focus on sustainability, growth of autonomous vehicles in logistics, rise in demand for real-time inventory visibility. Major trends in the forecast period include increasing use of machine learning for demand forecasting, rise of digital twins in supply chain optimization, growth in ai-powered robotic process automation, emphasis on supply chain resilience, adoption of ai-driven chatbots for customer service in logistics.
The surge in the rate of penetration of internet users is expected to propel the growth of artificial intelligence in the supply chain market going forward. Internet users have accessed the web in the past three months. With more people using the internet, information is collected and made accessible to all supply chain members online, allowing businesses to check inventory status, warehouse activity, and product movement much more quickly and easily. It enables the prediction of future consumer demand patterns while reducing the costs of overstocking unwanted inventory with the help of artificial intelligence (AI). For instance, in July 2023, according to Statistics Canada, a Canada-based government agency for national statistics, internet usage among Canadians aged 15 and older increased from 92% in 2020 to 95% in 2022. Further, Canadians 75 years of age and older experienced the biggest increase, with 72% in 2022. Therefore, the surge in the rate of penetration of internet users is driving the growth of artificial intelligence in the supply chain market.
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The artificial intelligence in supply chain market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Technology: Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision
3) By Application: Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Risk Management, Freight Brokerage, Other Applications
4) By End-User: Automotive, Aerospace, Manufacturing, Retail, Healthcare, Consumer-Packaged Goods, Food And Beverages
Technological advancements are a key trend gaining popularity in artificial intelligence in the supply chain market. Major companies operating in the artificial intelligence supply chain market are adopting advanced technologies to sustain their position in the market. For instance, in April 2023, project44, a US-based software development company, launched Movement GPT, the first-ever AI supply chain assistant. Movement GPT can change the supply chain and finally produce an autonomous, self-repairing supply chain by utilizing the abilities of generative AI. With this ground-breaking improvement, visibility into the supply chain now has a highly engaging, natural language interface that makes it simpler than ever for users to obtain crucial data and control their shipments.
The artificial intelligence in supply chain market report table of contents includes:
- Executive Summary
- Artificial Intelligence In Supply Chain Market Characteristics
- Artificial Intelligence In Supply Chain Market Trends And Strategies
- Artificial Intelligence In Supply Chain Market – Macro Economic Scenario
- Global Artificial Intelligence In Supply Chain Market Size and Growth
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- Global Artificial Intelligence In Supply Chain Market Competitive Benchmarking
- Global Artificial Intelligence In Supply Chain Market Competitive Dashboard
- Key Mergers And Acquisitions In Artificial Intelligence In Supply Chain Market
- Artificial Intelligence In Supply Chain Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- com Inc.
- Google LLC
- Samsung Electronics Co Ltd.
- Microsoft Corporation,
- DHL Group
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