Artificial Intelligence in Supply Chain Market is expected to reach USD 10,110.2 million at a CAGR of +45% during the forecast period of 2021-28.
Ai in supply chains is helping to deliver the powerful optimization capabilities required for more accurate capacity planning, improved productivity, high quality, lower costs, and greater output, all while fostering safer working conditions.
According to Mckinsey Digital, AI-powered forecasting can reduce errors by 30 to 50% in supply chain networks. The improved accuracy leads up to a 65% reduction in lost sales due to inventory out-of-stock situations and warehousing costs decrease around 10 to 40%.
Blockchain can enable more transparent and accurate end-to-end tracking in the supply chain: Organizations can digitize physical assets and create a decentralized immutable record of all transactions, making it possible to track assets from production to delivery or use by end user.
AI provides the supply chain with contextual intelligence which can be used by them to reduce the operating costs and manage inventory. Companies make use of AI along with machine learning to get new insights into different areas which include warehouse management, logistics and supply chain management.
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Top Key Players:
Intel (US), NVIDIA (US), Xilinx (US), Samsung (South Korea), Micron(US), IBM (US), Google (US), Microsoft (US), and Amazon (US).
Artificial Intelligence in Supply Chain Market, a new research report that evaluates its current value, size, performance and statistics. The report is an in-depth study of the important dynamics of the market and gives a gist of the types, the process, and value chain that has been included in the report. This industry is one of the highly competitive markets in the world and is highly capital concentrated and requires strong government support and political stability.
The fundamental dynamics that are explored in the report hold substantial influence over the Artificial Intelligence in Supply Chain market. The report further studies on the value, volume trends, and the pricing history of the market. In addition to it, various growth factors, restraints, and opportunities are also analyzed for the market to study the in-depth understanding of the market.
The competitive landscape of the Artificial Intelligence in Supply Chain market is discussed in the report, which includes the market share. The report contours some of the leading players in the global market and also discusses the strategies implemented by the key companies to maintain their hold in the industry.
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Artificial Intelligence in Supply Chain Market, by Offering
- Hardware
- Software
- Services
Artificial Intelligence in Supply Chain Market, by Technology
- Machine Learning
- Natural Language Processing
- Context-aware Computing
- Computer Vision
Artificial Intelligence in Supply Chain Market, by Application
- Fleet Management
- Supply Chain Planning
- Warehouse Management
- Virtual Assistant
- Risk Management
- Freight Brokerage
- Others
Artificial Intelligence in Supply Chain Market, by End-user Industry
- Automotive
- Aerospace
- Manufacturing
- Retail
- Healthcare
- Consumer-packaged Goods
- Food and Beverages
- Others
Artificial Intelligence in Supply Chain Market, by Region
- North America
- Europe
- APAC
- RoW
The report provides valuable evidences, which states about the current statistics in terms of competition for sustainable development of the industries. It focuses on strategies which reflects the productivity in different regions like North America, Japan, Europe, China, and India to scale up the market.
Artificial Intelligence in Supply Chain Market strategies, challenges, prospects for advancements along with a detailed study of the prominent aspects affecting the market are included in this substantial report. It also sheds light upon the ongoing developments in the field as well as prevailing strategies to thrive in this constantly evolving market. To conclude with, this report covers all the necessary financial, economic and social factors relevant to the industry enhancing the reader with information required to make an informed decision.
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