The Global Artificial Intelligence in Supply chain market spurring the market growth is due to emerging big data and the need for better decision making. The global artificial intelligence in supply chain market has the potential to grow with USD 21.2 billion and with bolstering CAGR in the forecast period from 2021-2028. The growing demand for AI in the supply chain market is mainly due to the increasing awareness of artificial intelligence, big data and analysis, and the continuous expansion of the scope of computer vision in autonomous and semi-autonomous applications.
With artificial intelligence technology embedded in a self-learning supply chain, the machine will be able to check the supply chain strategy to determine the location and cause of supply chain errors, as well as related external combination factors such as loyalty, inventory levels, weather, competition Opponent's events, market performance, traffic or socio-economic events, etc. Then, machine learning algorithms will shift through the data and understand how these factors interact to cause supply chain errors.
Moreover, the growth of the supply chain department attributed to the growing demand for strengthening factory scheduling and production planning, as well as continually developing agility and optimization of supply chain decisions. Also, digitizing existing operations and workflows to reshape the supply chain planning model also contributed to the growth in this area.
Application overview in the Global Artificial Intelligence in Supply chain Market
Based on the application, the global Artificial Intelligence in the Supply Chain market segmented into Robotics & Factory Automation, Planning & Market Demand Forecast, Commerce & Financial Data, Cyber Security, Customer service, Other. The planning and market demand segment has captured the highest market value in the worldwide artificial intelligence in the supply chain in the forecast period from 2020-2027. The supply chain uses artificial intelligence for planning and forecasting market demand to enhance the future operations ad forecasting.
Type overview in the Global Artificial Intelligence in Supply Chain Market
Based on the type, the global Artificial Intelligence in the Supply Chain market classified into Software, Hardware, Other Services. The software segment will dominate the global artificial intelligence in supply chain market. It is mainly owing to providing solutions such as inventory control management, order procurement, and other functions required for the efficient supply chain management.
Function overview in the Global Artificial Intelligence in Supply Chain Market
Based on the function, the global Artificial Intelligence in the Supply Chain market categorized into On-premise, Off-premise. The on-premise segment will capture the largest share in the global artificial intelligence in supply chain market. The on-premise function helps in reducing the cost of storing data, improve flexibility, and scalability.
End-user Overview in the Global Artificial Intelligence in Supply Chain Market
Based on the End-user, the global Artificial Intelligence in Supply Chain market segmented into Automotive, Aerospace, Building Construction, Chemical, Others. The other (retail) segment will bolster the market share of the global artificial intelligence in the supply chain market. The retail sector is emerging is demand owing to improving customer experience and enhance the forecast of demand accurately.
Region Overview in the Global Artificial Intelligence in Supply Chain Market
Based on geography, the global Artificial Intelligence in Supply Chain market segmented into North America, Asia Pacific, Europe, South America, and Middle East & Africa. The Asia Pacific expected to hold the largest share of global artificial intelligence in the supply chain market. The rising disposable income, increasing penetration of the internet, and the emerging manufacturing and retail industry for improving the supply chain will fuel the market share of the global artificial intelligence in the supply chain market.
Global Artificial Intelligence in Supply Chain Market: Competitive Landscape
Companies such as IBM, Siemens, NVIDIA, Spotify, Microsoft, Google, Intel, Salesforce, Shell, GE Ventures, Samsung, Bloomberg Beta, RapidMiner, Tesla, and others are key players in the global Artificial Intelligence in Supply Chain market.