Meticulous Research®—a leading global market research company, published a research report titled, ‘AI in Supply Chain Market by Offering (Hardware, Software, Services), Technology (ML, NLP, Others), Application (Demand Forecasting, Others) Deployment Mode, End-use Industry (Manufacturing, F&B, Retail, Others) & Geography - Global Forecast to 2030’.
According to this latest publication from Meticulous Research®, the AI in supply chain market is projected to reach $41.23 billion by 2030, at a CAGR of 38.8% from 2023 to 2030. The growth of the AI in supply chain market is driven by the increasing incorporation of artificial intelligence in supply chain operations and the rising need for greater visibility and transparency in supply chain processes. However, high procurement and operating costs and the lack of infrastructure restrain the growth of this market.
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The growing demand for AI-based business automation solutions is expected to generate growth opportunities for the players operating in this market. However, performance issues in integrating data from multiple sources and data privacy & security concerns are major challenges for market growth. Additionally, the rising demand for cloud-based supply chain solutions is a prominent trend in the AI in supply chain market.
Based on offering, the global AI in supply chain market is segmented into hardware, software, and services. In 2023, the hardware is expected to account for the largest share of the global AI in supply chain market. Artificial intelligence algorithms are becoming more widespread in various industries and applications, but their performance is often limited by the processing power of traditional CPUs. To improve the capabilities of AI algorithms, some companies are developing new hardware offerings such as graphics processing units (GPUs) and AI accelerators.
The large market share of this segment is attributed to the advancements in data center capabilities, increasing deployment of machine learning solutions and its ability to perform tasks without relying on human input, and the rapid adoption of cloud-based technology across several industries. However, the software segment is expected to record the highest CAGR during the forecast period.
Based on technology, the global AI in supply chain market is segmented into machine learning, computer vision, natural language processing, context-aware computing, and robotic process automation. In 2023, the machine learning segment is expected to account for the largest share of the global AI in supply chain market. The large market share of this segment is attributed to the advancements in data center capabilities, increasing deployment of machine learning solutions and its ability to perform tasks without relying on human input, and the rapid adoption of cloud-based technology across several industries. However, the robotic process automation segment is expected to record the highest CAGR during the forecast period.
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Based on deployment mode, the global AI in supply chain market is segmented into cloud-based deployments and on-premise deployments. In 2023, the cloud-based deployments segment is expected to account for the larger share of the global AI in supply chain market. The large market share of this segment is attributed to the increasing avenues for cloud-based deployments, the superior flexibility and affordability offered by cloud-based deployments, and the increasing adoption of cloud-based solutions by small & medium-sized enterprises. Moreover, the cloud-based deployments segment is expected to record the highest CAGR during the forecast period.
Based on application, the global AI in supply chain market is segmented into demand forecasting, supply chain planning, warehouse management, fleet management, risk management, inventory management, predictive maintenance, real-time supply chain visibility, and other applications. In 2023, the demand forecasting segment is expected to account for the largest share of the global AI in supply chain market. The large market share of this segment is attributed to the rising initiatives to integrate AI capabilities in supply chain solutions, dynamic changes in customer behaviors and expectations, and the rising need to achieve accuracy and resilience in the supply chain. However, the real-time supply chain visibility segment is expected to record the highest CAGR during the forecast period.
Based on end-use industry, the global AI in supply chain market is segmented into manufacturing, food and beverage, healthcare & pharmaceuticals, automotive, retail, building & construction, medical devices & consumables, aerospace & defense, and other end-use industries. In 2023, the manufacturing segment is expected to account for the largest share of the global AI in supply chain market. The large market share of this segment is attributed to the increasing number of manufacturing companies, favorable initiatives to integrate artificial capabilities in the supply chain, and manufacturers’ vision to achieve accuracy and resilience in the supply chain. However, the retail segment is expected to record the highest CAGR during the forecast period.
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Based on geography, the AI in supply chain market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global AI in supply chain market. In Asia-Pacific, the level of awareness has increased as governments have come to understand the potential for the advancement of AI in the economy.
Growing advancements in supply chain solutions are leading various businesses to deploy supply chain solutions to adopt advanced decision-making capabilities. For instance, in March 2023, Sabre GLBL Inc. (U.S.), a leading software and technology provider, announced the successful implementation of its Revenue Optimizer and Dynamic Availability solutions at Virgin Australia Airlines Pty Ltd (Australia). Rising supply chain solutions, countries increasing focus on artificial intelligence deployment, and increased collaborative efforts are the key growth drivers for the regional market. However, the Asia-Pacific is expected to record the highest CAGR during the forecast period.
Key Players
Some of the key players operating in the AI in supply chain market are Intel Corporation (U.S.), Microsoft Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Google LLC (U.S.), NVIDIA Corporation (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), C3.ai, Inc. (U.S.), SAP SE (Germany), Samsung SDS CO., Ltd. (South Korea), Coupa Software Inc. (U.S.), Micron Technology, Inc. (U.S.), Advanced Micro Devices, Inc. (U.S.), General Electric Company (U.S.), FedEx Corporation (U.S.), and Deutsche Post DHL Group (Germany).
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Key questions answered in the report-
• Which are the high-growth market segments based on offering, technology, deployment mode, application, and end-use industry?
• What was the historical market for AI in supply chain?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, and opportunities in AI in supply chain market?
• Who are the major players, and what shares do they hold in the AI in supply chain market?
• How is the competitive landscape in the AI in supply chain market?
• What are the recent developments in AI in supply chain market?
• What are the different strategies adopted by the major players in AI in supply chain market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global AI in supply chain market, and how do they compete with the other players?
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