The Global Artificial Intelligence in Supply Chain Market size is estimated to reach $ 1.9 billion by 2026, boosting at a CAGR of 42.3% during the forecast period, 2021-2026
The loopholes and time testing discrepancies in the supply chain were known beforehand, leading to a business transaction without a hitch. It is hence keenly desirable, if the stakeholders were to use AI in supply chain market and logistics, to maintain liaisons between business partners and suppliers with a lightning convergence. Operations such as business strategies, enhanced supply chain management productivity, and engaging with customers in the digital world are one step away in the market.
AI in supply chains is helping the world with an action ready plan which includes high productivity, high quality, lower costs and higher throughput in a safe ecosystem. For instance, it would have served many industries right, by being action ready with a plan B to mitigate the losses that came cascading down, in the COVID-19 aftermath.
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So, where does AI make an impact in supply chain, and how does it result in an industry-ready solution.
The AI tools can be effective in inventory management. With so many orders, repeat orders and complex processing, picking and packing, the errors can be quite intermittent and common-place. All this is avoided if you have an Artificial Intelligence led tool such as accurate inventory management that will minimize costs by not overstocking inventory.
Surge in internet penetration in developing economies has brought the market from an uphill task, with rising growth in organizational score, and efficiency in supply chain market. It is predicted that AI will increase by USD 55 million by 2029.
AI in supply chains helps cognitive performance in industries and optimal actions. AI is used in supply chain to automate processes, thus increasing efficiency and reducing truckloads of paperwork.
Thus, growing digitization in the industries with transparency in supply chain and logistics, data in overabundance and rising proliferation of industries, both small and medium scale will accelerate the market for AI in supply chain. India and china leveraging growth in technology and IT proliferation in both the countries will develop the AI in supply chain market. No reluctance in stepping on to the cloud shown by companies and favorable government initiatives are some drivers to the AI in supply chain market.
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Segmentation
The AI in supply chain market is segmented on the basis of offering, technology, application and industry.
BY offering, the AI in supply chain market is segmented into hardware, software and services. Based on technology, the AI in supply chain market is segmented into Natural processing (NLP), machine learning, context aware computing and computer vision.
On the basis of application, the artificial intelligence in supply chain market has been segmented into risk management, warehouse management, fleet management, supply chain planning, virtual assistant, freight brokerage and others.
On the basis of industry, the artificial intelligence in supply chain market has been segmented into, manufacturing, retail, automotive, aerospace, healthcare, consumer-packaged goods and food and beverages.
By Region
Asia Pacific is the most favored nation in the industry with consumer electronics, internet subdivisions, and economic development. Government initiatives towards acceleration of AI in supply chain market and the growth of e-commerce in emerging economies such as India and China are proliferating the market.
Key Players in the AI in supply chain market include Intel, NVIDIA, Xilinx, Samsung, Micron, IBM, Google, Microsoft and Amazon.
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TOC:
Global Artificial Intelligence in Supply Chain Market Growth, Trend and Forecast 2022-2027
Chapter 1 Artificial Intelligence in Supply Chain Market Overview
1.1 Product Overview and Scope of Artificial Intelligence in Supply Chain
1.2 Artificial Intelligence in Supply Chain Market Segmentation by Offerings
1.2.1 Hardware
1.2.2 Processors
1.2.3 MPU
1.2.4 GPU
1.2.5 FGPA
1.2.6 ASIC
1.2.7 Memory
1.2.8 Network
1.2.9 Software
1.2.10 AI Platforms
1.2.11 AI Solutions
1.2.12 Services
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