Global Artificial Intelligence in Supply Chain Market Overview:
Artificial Intelligence (A.I.) is bringing big reforms and revolution in Supply Chain Management (SCM) practices. There is increasing exploration, research and development carried out to integrate complex web of production and distribution through A.I. tools. The primary motive of introducing A.I. in the supply chain being optimizing operations, reducing costs, and saving time. A.I. in supply chain promises better warehouse and inventory efficiency, cost efficiency, and increased customer satisfaction. With the emergence of many new A.I. startups and global tech giants like Google and Baidu investing 20 and 30 Billion USD each year in A.I. with 90% of this funds primarily infused in research and development of A.I. alone. Thus this industry has huge prospects in the coming decade with the A.I. revolution already started.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Application of BlockChain Along with A.I. has Increasingly Practiced by the Major Players in the Industry and Increased Focus on Innovation and Research of Automated Vehicles
Market Growth Drivers:
A.I. Help in Reducing and Optimizing the Operational and Shipping Cost, Efficient Inventory Management, Artificial Intelligence can Enhance Material and Human Safety and Rise of E-Commerce Industry
Challenges:
Lack of Trust in A.I. Due to Inexperience of Human Expertise in A.I., High Initial Cost of Setup, Lack of Experts or Skilled Professionals in Industry who can Operate A.I. Enabled Systems or Mechanisms or Tools in Supply Chain, A.I. is still in its Embryo Stage and is Evolving and Difficulties in Understanding and Application of Complex Algorithms with Different Set of Objectives
Restraints:
Poor Digital Infrastructure in Developing Countries and Scarcity of Data Because Most of the Operations which were Earlier Done In-House are Now Outsourced
Opportunities:
Autonomous Vehicles is one of the Biggest Opportunities of the Decade Due to Intense Research and Development as well as Investments in this Field, With Increased Unification of Data, Big Data Analytics Provides Great Prospectus and Integration of Artificial Intelligence with Machine Learning and Block Chain Technology
Competitive Landscape:
Some of the key players profiled in the report are Deutsche Post AG (DHL Group) (Germany), Alphabet Inc. (Google) (United States), SUPPLY DYNAMICS (United States), Coupa Software Inc. (United States), LeanDNA (United States), Element AI Inc. (Canada), Verusen (United States), ClearMetal (United States), Blue Yonder Group, Inc. (United States), Manhattan Associates (United States) and E2open, LLC. (United States). Additionally, following companies can also be profiled that are part of our coverage like NebulARC Technologies Private Limited (India), 42Q (United States) and Verusen (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Artificial Intelligence in Supply Chain market by 2028. Considering Market by End Users, the sub-segment i.e. Retail will boost the Artificial Intelligence in Supply Chain market. Considering Market by Technology, the sub-segment i.e. Machine Learning (MP) will boost the Artificial Intelligence in Supply Chain market. Considering Market by Offerings, the sub-segment i.e. Software will boost the Artificial Intelligence in Supply Chain market.
Latest Market Insights:
In 2021, Google, Global tech and A.I. giant has announced a strategic alliance with J.B. Hunt Transport Services, Inc., the market leader in transportation logistics in North America. The two signed a strategic alliance to accelerate next and innovate in the next generate digital supply chain platform. Both the companies look at combining their synergies and expertise through their innovative products such as Google's Data Cloud, and J.B. Hunt 360. The two companies look at enabling A.I., and Machine learning tools to enhance logistics and supply chain management.
What Can be Explored with the Artificial Intelligence in Supply Chain Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Artificial Intelligence in Supply Chain Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Artificial Intelligence in Supply Chain
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Artificial Intelligence in Supply Chain market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Artificial Intelligence in Supply Chain market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes A.I. in Supply Chain Providers, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Research Organizations, Govt. Regulatory Bodies, End-Use Industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.