At 41.50% CAGR, Artificial Intelligence In Supply Chain Market Size is Expected to Reach USD 12798.62 Billion by 2028 Says Zion Market Research | Global AI In Supply Chain Industry Trends, Share, Analysis & Forecast Report

NEW YORK, May 30, 2022 /PRNewswire/ -- As per Zion Market Research study, The global Artificial Intelligence (AI) In Supply Chain market was worth around USD 1594.50 billion in 2021 and is estimated to grow to about USD 1594.50 billion by 2028, with a compound annual growth rate (CAGR) of approximately  41.50 percent over the forecast period. The report analyzes the digital remittance market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Key Industry Insights & Finding of the Artificial Intelligence (AI) In Supply Chain Market Reports:

• As per the analysis shared by our research analyst, the Artificial Intelligence (AI) In Supply Chain Market is expected to grow annually at a CAGR of around 41.50 % (2022-2028).
• Through the primary research, it was established that the Artificial Intelligence (AI) In Supply Chain Market was valued approximately USD 1594.50 Billion in 2021 and is projected to reach to roughly USD 12798.62 Billion by 2028.
• Increased adoption of deep learning and natural language processing (NLP) technology for automotive, retail, and manufacturing applications in APAC is driving market expansion.
• The presence of important participants in the artificial intelligence ecosystem in the supply chain ecosystem leads to an increase in artificial intelligence adoption in APAC.

Zion Market Research published the latest report titled as  "Artificial Intelligence (AI) In Supply Chain Market By Offering( Hardware, Software, Services), By Technology(Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision), By Application(Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Risk Management, Freight Brokerage, Others ), By End-user Industry( Automotive, Aerospace, Manufacturing, Retail, Healthcare, Consumer-packaged Goods ,Food and Beverages, Others), By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028." into their research database.

Artificial Intelligence (AI) In Supply Chain Market: Overview

Artificial intelligence (AI) is a technology that allows machines, software, and systems to compete in some ways with human intelligence and behaviour. The heart of AI is a system that analyses data and performs various jobs using complex algorithms. Data extraction, data analysis, supply and demand forecasting, and the operation of autonomous vehicles are just a few of the applications it has in the supply chain. It can also gain access to warehouse procedures in order to optimise product shipping, receiving, storing, picking, and management. The improvement of logistics is accomplished through optimising warehousing and distribution processes.

By employing cognitive predictions and recommendations on optimal actions, artificial intelligence in supply chain helps to improve overall supply chain performance. The increasing digitization of economies, particularly emerging nations, will emerge as a major market development driver. The the increasing generation of large amounts of data and information for greater visibility and transparency in supply chain and logistics data, rising adoption by small and medium-sized businesses, and the strengthening IT industry in developing economies such as India and China, will exacerbate the market's growth. Other factors boosting the market's growth include the rapid prevalence of cloud-based services and an ever-growing set of favourable government laws.

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Industry Dynamics:

Artificial Intelligence (AI) In Supply Chain Market: Growth Drivers

• Computer vision ready to create an impact on the global artificial intelligence to drive global market growth.

The use of computer vision technology in supply chain activities across several industrial verticals is fast rising. During the 2022-2028, this category is expected to increase at the fastest rate. Many end-use industries throughout the world have begun to incorporate computer vision as a revolutionary technology into their operations. Soaring labour costs, more awareness of the benefits of AI solutions, increased demand for anti-theft solutions, and the availability of affordable robotics/automation are some of the primary factors driving the computer vision technologies segment's quickest growth.

Artificial Intelligence (AI) In Supply Chain Market: Restraints

• System Complexities will act as growth to hamper the market growth.

AI systems are typically cloud-based, which necessitates a large amount of bandwidth to fuel the system. Operators may also require specialised gear to access AI capabilities, and the cost of AI-specific technology can be too expensive for many supply chain partners.

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Artificial Intelligence (AI) In Supply Chain Market: Challenges

• The operational costs involved may give rise to challenges for its growth.

Each of the various processors in an AI-controlled machine need maintenance and replacement from time to time. The problem is that the operating investment could be rather large due to the prospective cost and energy involved. Manufacturers would also have to replace these, which would raise utility bills and have a direct influence on operating costs.

Global Artificial Intelligence (AI) In Supply Chain Market: Segmentation

• The global Artificial Intelligence (AI) In Supply Chain market is segregated based on category, hospital capacity, location, and region.

The AI in supply chain market is divided into four categories based on technology: machine learning, computer vision, natural language processing, and context-aware computing. Machine learning accounted for the largest share of the overall AI in supply chain market. This expansion can be due to rising demand for AI-based intelligent solutions, increased government initiatives, and AI solutions' capacity to efficiently handle and analyse huge data, as well as quickly scan, parse, and react to anomalies.

The AI in supply chain market is divided into supply chain planning, warehouse management, fleet management, virtual assistant, risk management, inventory management, and planning & logistics, based on application. Supply chain planning is having the greatest proportion of the overall AI in supply chain market. The growing demand for improved production planning and factory scheduling, as well as the expanding agility and optimization of supply chain decision-making is  contributed to the expansion of the AI industry.

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List of Key Players of Artificial Intelligence (AI) In Supply Chain Market:

• Intel (US)
• NVIDIA (US)
• Xilinx (US)
• Samsung Electronics (South Korea)
• Micron Technology (US)
• IBM (US)
• Microsoft (US)
• Amazon (US).

Key questions answered in this report:

• What are the growth rate forecast and market size for Artificial Intelligence (AI) In Supply Chain Market?
• What are the key driving factors propelling the Artificial Intelligence (AI) In Supply Chain Market forward?
• What are the most important companies in the Artificial Intelligence (AI) In Supply Chain Market Industry?
• What segments does the Artificial Intelligence (AI) In Supply Chain Market cover?
• How can I receive a free copy of the Artificial Intelligence (AI) In Supply Chain Market sample report and company profiles?

Report Scope:

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Recent Developments:

• November 2021- Microsoft will launch new supply chain and manufacturing technologies. The Microsoft Cloud for Manufacturing combines Microsoft and our partners' greatest outcome-driven solutions and capabilities to help our customers speed time-to-value in a comprehensive, scalable approach. We're creating a flywheel of innovation by connecting the Microsoft stack's intelligent, integrated cloud, and edge capabilities to the highest-value manufacturing scenarios, allowing businesses to increase asset and frontline worker productivity in safe and secure factories, enable remote selling and always-on service, and unlock cloud-based innovation—all while maintaining the highest levels of trust, compliance, privacy, and transparency.

Regional Dominance:

• Increased adoption of deep learning and natural language processing.

During the 2022-2028, the market in APAC is expected to develop at the fastest CAGR. Increased adoption of deep learning and natural language processing (NLP) technology for automotive, retail, and manufacturing applications in APAC is driving market expansion. Furthermore, the presence of important participants in the artificial intelligence ecosystem in the supply chain ecosystem leads to an increase in artificial intelligence adoption in APAC. The other reason for growing demand is This is due to the region's large population of young, tech-savvy people and the growing prevalence of the internet of things (IoT).

Global Artificial Intelligence (AI) In Supply Chain Market is segmented as follows:

Artificial Intelligence (AI) In Supply Chain Market: By Offering Outlook (2022-2028)

• Hardware
• Software
• Services

Artificial Intelligence (AI) In Supply Chain Market: By Technology Outlook (2022-2028)

• Machine Learning
• Natural Language Processing
• Context-aware Computing
• Computer Vision

Artificial Intelligence (AI) In Supply Chain Market: By Application Outlook (2022-2028)

• Fleet Management
• Supply Chain Planning
• Warehouse Management
• Virtual Assistant
• Risk Management
• Freight Brokerage
• Others

Artificial Intelligence (AI) In Supply Chain Market: By End-user Industry Outlook (2022-2028)

• Automotive
• Aerospace
• Manufacturing
• Retail
• Healthcare
• Consumer-packaged Goods
• Food and Beverages
• Others

Artificial Intelligence (AI) In Supply Chain Market: By Region Outlook (2022-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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