According to a new report published by UnivDatos Markets Insights, Artificial Intelligence In The Supply Chain Market is expected to grow at a CAGR of around 46% during the forecast period, reaching USD 35 billion by 2028. The analysis has been segmented into Application (Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, and Others); End-user (Automotive, Retail, Consumer-Packaged Goods, Food and Beverages, and Others); Region/Country.
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The artificial intelligence in the supply chain market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on artificial intelligence in the supply chain market. The artificial intelligence in supply chain market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the artificial intelligence in the supply chain market at the global and regional levels.
Market Overview
AI in supply chains is helping to deliver the powerful optimization capabilities required for more accurate capacity planning, improved productivity, high quality, lower costs, and greater output, all while fostering safer working conditions. The growing adoption of artificial intelligence in the supply chain can be attributed to growing adoption of AI coupled with growing investments in the AI sector. For instance, according to live mint the AI investments reached USD 881mn in the year 2020. Furthermore, AI has been applied in a variety of end-use applications that allow businesses to function without the need for human supervision. AI-enabled machinery and equipment can work successfully by acquiring human abilities.
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Artificial intelligence in supply chain market is expected to grow at a steady rate of around 46% owing to growing investments by key players. Major companies in the market offer artificial intelligence in supply chain. For instance, IBM Corporation, Microsoft Corporation, Google LLC, Amazon.com Inc., Intel Corporation, Nvidia Corporation, Oracle Corporation, Samsung, LLamasoft Inc., and SAP SE.
Covid-19 Impact
The COVID-19 pandemic has spread across the world and has had a mixed impact on various industries. The supply chain industry was majorly affected by COVID-19, all the manufacturing companies were having trouble obtaining materials needed to form products, and were struggling to ship their products to stores and warehouses.
The global artificial intelligence in supply chain market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on application, the market is segmented into fleet management, supply chain planning, warehouse management, virtual assistant, and others. The supply chain planning segment is expected to achieve a significant CAGR during the forecast. The growing adoption of data-based decision-making and the increasing number of operations in a company requires proper management, scheduling, and planning to manage the operations. AI helps in the decision-making and optimization of the resources within the industry.
- Based on end-users, the market is segmented into automotive, retail, consumer-packaged goods, food and beverages, and others. The automotive segment is expected to grow significantly during the forecast period. The growing size of the automotive industry and the introduction of electric vehicles is expected to drive the market.
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Artificial intelligence in supply chain market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
North America constitutes a significant AI in the supply chain market due to the presence of the major market players and the presence of developed economies in the region. Furthermore, the growing adoption of deep learning and NLP technologies are expected to drive artificial intelligence in the supply chain market.
The major players targeting the market include
- IBM Corporation
- Microsoft Corporation
- Google LLC
- com Inc
- Intel Corporation
- Nvidia Corporation
- Oracle Corporation
- Samsung
- LLamasoft Inc
- SAP SE.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the artificial intelligence in supply chain market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in artificial intelligence in the supply chain market?
- Which factors are influencing artificial intelligence in supply chain market over the forecast period?
- What are the global challenges, threats, and risks in artificial intelligence in supply chain market?
- Which factors are propelling and restraining artificial intelligence in supply chain market?
- What are the demanding global regions of artificial intelligence in supply chain market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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