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. Some of the players profiled in the study are DHL International GmbH (Germany), Google (United States), Supply Dynamics (United States), LLamasoft (United States), LeanDNA (United States), Vecna Robotics (United States), Element AI (United States), Flock Freight (United States), J.B. Hunt Transport Services, Inc. (United States) and Leva Data (United States).
On the basis of geography, the market of Artificial Intelligence in Supply Chain has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Retail will boost the Artificial Intelligence in Supply Chain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Machine Learning (MP) will boost the Artificial Intelligence in Supply Chain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Software will boost the Artificial Intelligence in Supply Chain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
- Rise of E-Commerce Industry
- Application of BlockChain Along with A.I. has Increasingly Practiced by the Major Players in the Industry
- Increased Focus on Innovation and Research of Automated Vehicles
- Poor Digital Infrastructure in Developing Countries
- Scarcity of Data Because Most of the Operations which were Earlier Done In-House are Now Outsourced
- 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
- Integration of Artificial Intelligence with Machine Learning and Block Chain Technology
- 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
- Difficulties in Understanding and Application of Complex Algorithms with Different Set of Objectives
Key Market Developments:
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.
Target Audience: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
Major Objectives Focused through this Study To define, describe, and forecast the Global Artificial Intelligence in Supply Chain market on the basis of product  , application [Operational Procurement, Supply Chain Planning, Warehouse Management, Autonomous Vehicles, Big Data and Analytics, Supplier Relationship Management and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Artificial Intelligence in Supply Chain market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Artificial Intelligence in Supply Chain industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are NebulARC Technologies Private Limited (India), 42Q (United States) and Verusen (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Artificial Intelligence in Supply Chain market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.