DUBLIN, May 11, 2020 /PRNewswire/ -- The "Artificial Intelligence in Supply Chain Market by Component (Platforms, Solutions) Technology (Machine Learning, Computer Vision, Natural Language Processing), Application (Warehouse, Fleet, Inventory Management), and by End User - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
This report carries out an impact analysis of the key industry drivers, restraints, challenges, and opportunities.
Adoption of artificial intelligence in the supply chain allows industries to track their operations, enhance supply chain management productivity, augment business strategies, and engage with customers in the digital world. The growth of artificial intelligence in supply chain market is driven by several factors such as raising awareness of artificial intelligence and big data & analytics and widening implementation of computer vision in both autonomous & semi-autonomous applications.
Moreover, the factors such as consistent technological advancements in the supply chain industry, rising demand for AI-based business automation solutions, and evolving supply chain automation are also contributing to the market growth.
The overall AI in supply chain market is segmented by component (hardware, software, and services), by technology (machine learning, computer vision, natural language processing, cognitive computing, and context-aware computing), by application (supply chain planning, warehouse management, fleet management, virtual assistant, risk management, inventory management, and planning & logistics), and by end-user (manufacturing, food and beverages, healthcare, automotive, aerospace, retail, and consumer-packaged goods), and geography.
Based on technology, the machine learning segment accounted for the largest share of the overall artificial intelligence in supply chain market in 2019, driven by the growing demand for AI-based intelligent solutions; increasing government initiatives; and the ability of AI solutions to efficiently handle and analyze big data and quickly scan, parse, and react to anomalies. However, the computer vision technology segment is slated to grow at the fastest CAGR during the forecast period, due to growing implementation of computer vision across several end-use industries for monitoring operations, spotting suspicious behavior, and preventing thefts.
Based on application, the supply chain planning segment accounted for the largest share of the overall AI in supply chain market in 2019, and is also expected to witness high growth during the forecast period, mainly due to the growing demand for enhancing factory scheduling & production planning and the evolving agility and optimization of supply chain decision-making.
An in-depth analysis of the geographic scenario of the market provides detailed qualitative and quantitative insights about the five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America commanded the largest share of the global artificial intelligence in supply chain market, followed by Europe and Asia-Pacific.
The large share of this region is mainly attributed to its open-minded approach towards smart technologies & high technology adoption rate and the presence of developed economies focusing on enhancing the existing solutions in the supply chain space. However, the factors such as growing proliferation of the Internet of Things (IoT), growing adoption of AI-based solutions and services among supply chain operations, and government initiatives to increase digitalization are helping Asia Pacific to register the fastest growth in the overall artificial intelligence in supply chain market.
- Rising Awareness of Artificial Intelligence and Big Data & Analytics
- Widening Implementation of Computer Vision in both Autonomous & Semi-Autonomous Applications
- High Procurement and Operating Cost
- Lack of Infrastructure
- Growing Demand for AI-Based Business Automation Solutions
- Evolving Supply Chain Automation
- Data Integration from Multiple Resources
- Concerns Over Data Privacy
- Rising Adoption of 5G Technology
- Rising Demand for Cloud-Based Supply Chain Solutions
Scope of the Report
Market by Component
- AI Platforms
- AI Solutions
- Deployment & Integration
- Support & Maintenance
Market by Technology
- Machine Learning
- Natural Language Processing
- Computer Vision
- Context-Aware Computing
Market by Learning Application
- Supply Chain Planning
- Warehouse Management
- Fleet Management
- Virtual Assistant
- Risk Management
- Inventory Management
- Planning & Logistics
Market by End-user
- Food & Beverages
- Consumer-Packaged Goods
Market by Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
- ClearMetal Inc.
- Deutsche Post AG DHL
- General Electric
- Google LLC
- IBM Corporation
- Intel Corporation
- LLamasoft Inc.
- Micron Technology Inc.
- Microsoft Corporation
- Nvidia Corporation
- Oracle Corporation
For more information about this report visit https://www.researchandmarkets.com/r/oyl0ms
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SOURCE Research and Markets