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Global Artificial Intelligence In Supply Chain Market 2024 : Trends, Business Growth And Major Driving Factors | Amazon.com Inc., Google LLC, Samsung Electronics Co Ltd., Microsoft Corporation, DHL Group, FedEx Corporation
Artificial Intelligence In Supply Chain Global Market Report 2024
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.
Market Overview -
Artificial intelligence in the supply chain refers to the simulation of human intelligence mechanisms to organize and analyze vast amounts of supply chain information, identify trends, and forecast future issues. It is used for inventory optimization and shortage management.
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Increasing Internet User Penetration On The Accelerating Growth Of Artificial Intelligence In The Supply Chain
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.
Competitive Landscape -
Major companies operating in the artificial intelligence in supply chain market report are Amazon.com Inc., Google LLC, Samsung Electronics Co Ltd., Microsoft Corporation, DHL Group, FedEx Corporation, General Electric Company, Intel Corporation, The International Business Machines Corp, Oracle Corporation, SAP SE, Micron Technology Inc., NVIDIA Corporation, C.H. Robinson Worldwide Inc., Havi Logistics AS, Cainiao Smart Logistics Network Limited, Zebra Technologies Corporation, Flexport Inc., Xilinx Inc., Echo Global Logistics Inc., Epicor Software Corporation, Blue Yonder Inc., Symbotic LLC, E2open LLC., C3.AI Inc, Relex Solutions Private Limited, DataRobot Inc, Splice Machine Inc., Covariant Inc, Llamasoft Inc.
Unleashing The Potential Of Artificial Intelligence In The Supply Chain With Project44 Movement Gpt
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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