Market Overview:
The supply chain AI market was estimated to be worth USD 44.1 billion in 2022. The market for artificial intelligence in supply chains is expected to expand at a compound annual growth rate (CAGR) of 8.50% between 2023 and 2030, from USD 47.8485 billion in 2023 to USD 78.0632 billion. The main factors propelling market expansion include increasing economic digitalization and improving supply chain performance generally, especially in emerging nations.
Artificial intelligence in the supply chain enhances overall performance by employing cognitive forecasts and suggestions on the best course of action. Applications for the supply chain employ artificial intelligence to automate tasks like work delegation and resource allocation. Growing economic digitalization will be a key driver of market expansion, especially in emerging markets. The market will grow more quickly due to factors like the growing demand for supply chain and logistics data to be more transparent and visible, the generation of more data and information, the adoption of the technology by small and medium-sized businesses, and the development of the IT sectors in developing nations like China and India. the expansion of cloud-based services and their ever-growing list of advantages.
End-to-end visibility, techniques for demand forecasting, integrated business planning, dynamic planning optimisation, and dimensional flow automation are a few examples. However, the expansion of the industry would be hampered by a lack of technological know-how in developing and undeveloped nations.
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Key Companies in the AI in Supply Chain market include,
- Nvidia Corporation
- IBM corporation
- Intel Corporation
- Xilinx Inc.
- Samsung Electronics
- Microsoft Corporation
- Micron Technology
- SAP SE
- Oracle Corporation
- Logility Inc.
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Segmentation
The AI in supply chain market segmentation comprises hardware, software, networks, FPGA, GPU, and ASIC based on component types. The market was controlled by the software segment, and Al is being utilised in more and more different applications.
Manufacturing, retail, and automotive are among the supply chain markets segmented by AI based on end users. The bulk of the stake was held by the retail sector in 2022.
Artificial Intelligence in supply chain market data include machine learning and natural language processing, depending on the technology. The highest revenue was produced using machine learning.
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Due to the existence of developed economies that are focused on enhancing current supply chain solutions, significant players in this market, and a strong inclination to embrace cutting-edge technology, the North American AI in Supply Chain market is expected to dominate.
Between 2023 and 2030, the Asia Pacific AI in Supply Chain Market is anticipated to expand at the quickest rate. The region’s economy is growing quickly, there are many young, tech-savvy people living there, the Internet of Things (IoT) is becoming more and more popular, there is more disposable income in the area, acceptance of computer vision technology is growing, and computer vision technology is being used in more and more applications. Additionally, supply chain operations are using more and more artificial intelligence-based products and services. Other significant considerations include the region’s better network infrastructure and growing digitization. Furthermore, the supply chain AI market in China was developing at the quickest rate in the Asia Pacific region, while the supply chain AI market in India held the biggest market share.
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