26-May-2022 | Zion Market Research
The global Artificial Intelligence (AI) In Supply Chain market was worth around USD 1594.50 billion in 2021 and is estimated to grow to about USD 12798.62 billion by 2028, with a compound annual growth rate (CAGR) of approximately 41.50 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Artificial intelligence (AI) is a field of study that enables robots, software, and systems to compete with human intelligence and behaviour in some aspects. A system that analyses data and performs numerous tasks using complex algorithms is at the foundation of AI. Data extraction, data analysis, supply and demand forecasting, and autonomous vehicle operation are just a few of the supply chain uses it has. It may also access warehouse procedures to improve product shipping, receiving, storage, picking, and management. The optimization of warehousing and distribution processes is how logistics may be improved.
Artificial intelligence in supply chain helps to improve overall supply chain performance by using cognitive forecasts and recommendations on appropriate actions. The growing digitization of economies, especially in emerging markets, will become a major market development driver. The market's growth will be exacerbated by the increasing generation of large amounts of data and information for greater visibility and transparency in supply chain and logistics data, rising adoption by small and medium-sized businesses, and the strengthening IT industry in developing economies like India and China. The fast adoption of cloud-based services, as well as an ever-growing list of favourable government policies, is also contributing to the market's growth.
The global Artificial Intelligence (AI) In Supply Chain market is segregated By offering( hardware, software, services), By technology(machine learning, natural language processing, context-aware computing, computer vision), By application(fleet management, supply chain planning, warehouse management, virtual assistant, risk management, freight brokerage, others ), By end-user industry( automotive, aerospace, manufacturing, retail, healthcare, consumer-packaged goods ,food and beverages, others),
Machine learning, computer vision, natural language processing, and context-aware computing are the four technological categories that make up the AI in supply chain market. The total AI in supply chain market was led by machine learning, which accounted for the highest proportion. This growth could be attributed to increased demand for AI-based intelligent solutions, government initiatives, and AI solutions' ability to efficiently handle and analyse large amounts of data, as well as quickly scan, parse, and react to anomalies.
Based on application, the market for AI in supply chain is divided into supply chain planning, warehouse management, fleet management, virtual assistant, risk management, inventory management, and planning & logistics. Supply chain planning accounts for the largest share of the overall AI market in the supply chain. The AI industry is growing as a result of the increased demand for better production planning and factory scheduling, as well as the increasing agility and optimization of supply chain decision-making.
The market in APAC is predicted to grow at the quickest CAGR between 2022 and 2028. Deep learning and natural language processing (NLP) technology use is increasing in APAC for automotive, retail, and manufacturing applications, which is propelling market growth. Furthermore, the presence of key players in the AI ecosystem in the supply chain ecosystem leads to an increase in AI adoption in APAC. The region's significant number of young, tech-savvy individuals, as well as the growing presence of the internet of things, are two more reasons for rising demand (IoT).
Key players functioning in the global Artificial Intelligence (AI) In Supply Chainmarket include - Intel (US), NVIDIA (US), Xilinx (US), Samsung Electronics (South Korea), Micron Technology (US), IBM (US), Microsoft (US), and Amazon (US).
Browse the full “Artificial Intelligence (AI) In Supply Chain Market By Offering( Hardware, Software, Services), By Technology(Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision), By Application(Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Risk Management, Freight Brokerage, Others ), By End-user Industry( Automotive, Aerospace, Manufacturing, Retail, Healthcare, Consumer-packaged Goods ,Food and Beverages, Others), By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/artificial-intelligence-in-supply-chain-market
Global Artificial Intelligence (AI) In Supply Chain market is segmented as follows:
By End-user Industry
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