Artificial Intelligence in Supply Chain Market Grow Pricing, Features, Reviews
Posted by Sakshi Mishra on November 29th, 2020
The artificial intelligence (AI) in supply chain market is predicted to touch USD 3-4 billion at a whopping 37% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Artificial intelligence in the supply chain industry has gained rapid traction. The use of AI in the supply chain is enabling companies to automate decision making, offer better human resource utilization, improve efficiencies, improve supply chain management productivity, & helps to engage with customers in the digital world.
Various factors are propelling the global artificial intelligence in supply chain market share. According to the recent MRFR report, such factors include the increasing adoption of computer vision technology in different industries, favorable initiatives by the government towards digitalization, growing awareness about big data analytics and artificial intelligence, perpetually growing smart devices and internet users across the globe, growing adoption of artificial intelligence to improve consumer satisfaction and services, and burgeoning demand for higher transparency & greater visibility in supply chain data & processes.
On the contrary, lack of infrastructure, high procurement operating price, shortage of artificial intelligence technology experts, and the ongoing COVID-19 impact are factors that may impede the global artificial intelligence in supply chain market growth in the region.
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The MRFR report highlights an inclusive segmental analysis of the global based on artificial intelligence in supply chain market based on end users, application, deployment, technology, and component.
By component, the global artificial intelligence in supply chain market is segmented into software and hardware. The hardware segment is again segmented into network, memory, and processors. The processors segment is further segmented into ASIC, FPGA, GPU, and CPU. Of these, the software segment is predicted to lead the market over the forecast period.
By technology, the global artificial intelligence in supply chain market is segmented into computer vision, context-aware computing, natural language processing, and machine learning. Of these, the computer vision segment will lead the market over the forecast period.
By deployment, the global artificial intelligence in supply chain market is segmented into hybrid, on-cloud, and on-premise.
By application, the global artificial intelligence in supply chain market is segmented into risk management, supplier relationship management, logistics and shipping, supply chain planning, warehouse management, fleet management, and others. Of these, the supply chain segment will dominate the market over the forecast period.
By end users, the artificial intelligence in supply chain market is segmented into consumer electronics, food and beverage, manufacturing, retail, automotive, aerospace, and others. Of these, the retail sector will have a major share in the market over the forecast period.
Based on the region, the global artificial intelligence (AI) in supply chain industry report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Advances in technology, presence of highly developed infrastructure, increasing technical expertise in the artificial intelligence technology, booming retail and e-commerce industry, demand for advanced solutions for warehouse and logistics management, and the presence of top industry players are adding to the global artificial intelligence in supply chain market growth in the region. The United States, Mexico, & Canada hold the utmost share in the market.
The artificial intelligence (AI) in supply chain market in the APAC region is anticipated to have a notable growth during the forecast period. Rising market penetration of e-commerce, the growing trend of online purchase, developing digital technology and network infrastructure, and rising adoption of natural language processing and machine learning technology by technology developers to cater to the growing and custom needs of the automotive, retail, and manufacturing industry applications are adding to the artificial intelligence (AI) in supply chain market growth in the region.
The artificial intelligence (AI) in supply chain market in Europe is predicted to have a healthy growth during the forecast period and that in the RoW is predicted to have steady growth over the forecast period.
Eminent contenders profiled in the global artificial intelligence in supply chain market report include LLamasoft, Inc., Amazon, Oracle Corporation, Logility, Inc., SAP SE, Micron Technology, Microsoft Corporation, Samsung Electronics, Xilinx, Inc., Intel Corporation, IBM Corporation, and Nvidia Corporation, among others.
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About the AuthorSakshi Mishra
Joined: September 30th, 2020
Articles Posted: 512
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