As per the latest report released by Meticulous Research®, the AI in the supply chain market is forecasted to achieve a value of $41.23 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 38.8% from 2023 to 2030. The expansion of the AI in the supply chain sector is primarily propelled by the growing integration of artificial intelligence into supply chain operations, along with an increasing demand for enhanced visibility and transparency in supply chain processes. Nonetheless, the growth of this market is hampered by elevated procurement and operational expenses, as well as inadequate infrastructure.
The escalating requirement for AI-based business automation solutions is anticipated to create opportunities for market participants. Nevertheless, the integration challenges related to data from diverse sources and concerns regarding data privacy and security present notable obstacles to market growth. Additionally, the surging demand for cloud-based supply chain solutions emerges as a prominent trend in the AI in supply chain market.
Regarding market segmentation, the global AI in supply chain market is categorized into hardware, software, and services. In the year 2023, it is projected that hardware will account for the largest market share within the global AI in supply chain sector. While the utilization of artificial intelligence algorithms continues to expand across various industries and applications, their effectiveness is sometimes constrained by the processing capacity of conventional central processing units (CPUs). Consequently, certain companies are innovating with new hardware offerings like graphics processing units (GPUs) and AI accelerators to enhance AI algorithm capabilities.
The dominant market share of this hardware segment is attributed to advancements in data center capabilities, a rising adoption of machine learning solutions, which can execute tasks without relying heavily on human input, and the rapid uptake of cloud-based technology across different sectors. Nevertheless, it is expected that the software segment will demonstrate the highest CAGR throughout the projected period.
The technological segmentation of the global AI in supply chain market encompasses machine learning, computer vision, natural language processing, context-aware computing, and robotic process automation. In the year 2023, the machine learning sector is foreseen to command the largest portion of the global AI in supply chain market. This prominence can be linked to improvements in data center capabilities, an escalating deployment of machine learning solutions capable of autonomous task performance, and the swift adoption of cloud-based technology across diverse industries. On the other hand, the segment of robotic process automation is anticipated to experience the highest CAGR during the forecast timeframe.
In terms of deployment modes, the global AI in supply chain market is divided into cloud-based deployments and on-premise deployments. For the year 2023, it is expected that cloud-based deployments will encompass the larger market share within the global AI in supply chain market. This notable share is attributed to the expanding avenues for cloud-based deployments, the enhanced flexibility and cost-effectiveness associated with such deployments, and the growing preference for cloud-based solutions among small and medium-sized enterprises. Furthermore, the cloud-based deployments segment is projected to exhibit the highest CAGR over the forecast period.
With regard to applications, the global AI in supply chain market is segmented into demand forecasting, supply chain planning, warehouse management, fleet management, risk management, inventory management, predictive maintenance, real-time supply chain visibility, and other applications. In the year 2023, the demand forecasting segment is predicted to hold the largest share of the global AI in supply chain market. This substantial share is attributed to initiatives aimed at integrating AI capabilities into supply chain solutions, dynamic shifts in customer behavior and expectations, and an increasing need for precision and resilience within supply chain operations. However, the real-time supply chain visibility segment is projected to achieve the highest CAGR throughout the forecast period.
The segmentation based on end-use industries comprises manufacturing, food and beverage, healthcare and pharmaceuticals, automotive, retail, building and construction, medical devices and consumables, aerospace and defense, and other end-use sectors. In 2023, the manufacturing segment is anticipated to capture the largest portion of the global AI in supply chain market. This notable share is driven by a growing number of manufacturing companies, favorable initiatives aimed at incorporating artificial intelligence into the supply chain, and manufacturers' aspirations to attain accuracy and resilience within their supply chain processes. Nevertheless, the retail segment is forecasted to achieve the highest CAGR during the projected period.
In terms of geographical distribution, the AI in supply chain market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. For the year 2023, it is expected that the Asia-Pacific region will account for the largest share of the global AI in supply chain market. Within Asia-Pacific, awareness regarding the potential economic advancements enabled by AI has heightened among governments.
As supply chain solutions continue to advance, numerous businesses are adopting these solutions to enhance their decision-making capabilities. For example, in March 2023, Sabre GLBL Inc., a leading software and technology provider based in the U.S., announced the successful implementation of its Revenue Optimizer and Dynamic Availability solutions at Virgin Australia Airlines Pty Ltd in Australia. The growth of supply chain solutions, the increasing emphasis of countries on AI deployment, and enhanced collaborative efforts collectively drive growth in the regional market. It is worth noting that Asia-Pacific is projected to register the highest CAGR throughout the forecast period.
Lastly, notable players in the AI in supply chain market include Intel Corporation, Microsoft Corporation, Amazon Web Services, Google LLC, NVIDIA Corporation, Oracle Corporation, IBM Corporation, C3.ai, SAP SE, Samsung SDS CO., Ltd., Coupa Software Inc., Micron Technology, Advanced Micro Devices, General Electric Company, FedEx Corporation, and Deutsche Post DHL Group.
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5064
Key questions answered in the report-
Which are the high-growth market segments based on offering, technology, deployment mode, application, and end-use industry?What was the historical market for AI in supply chain?What are the market forecasts and estimates for the period 2023–2030?What are the major drivers, restraints, and opportunities in AI in supply chain market?Who are the major players, and what shares do they hold in the AI in supply chain market?How is the competitive landscape in the AI in supply chain market?What are the recent developments in AI in supply chain market?What are the different strategies adopted by the major players in AI in supply chain market?What are the key geographic trends, and which are the high-growth countries?Who are the local emerging players in the global AI in supply chain market, and how do they compete with the other players?Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Sign in to leave a comment.