Artificial Intelligence in Supply Chain Market is estimated to be US$ 199.3 billion by 2034 with a CAGR of 46.1% during the forecast period

Artificial Intelligence (AI) is one of the most fascinating technologies of the twenty-first century, and it has sparked controversy in a variety of industries. There are various industrial applications for AI, including the ability for production plants to function without human supervision. AI-enabled machinery and equipment can function by gaining human intelligence abilities. As part of their digitization strategies, manufacturing supply chains are fast adopting AI technologies. AI in supply chains aids in the organisation and analysis of data, which aids in the decision-making process in areas such as logistics and warehousing. In the manufacturing business, AI-enabled solutions are projected to boost efficiency. Artificial Intelligence (AI) In the Supply Chain Market was valued at US$ 6.3 billion in 2024 and is projected to grow at a CAGR of 46.1% to reach US$ 199.3 billion by 2034.

The report "Artificial Intelligence in Supply Chain Market, By Offerings (Hardware, Software, and Services), By Technology (Machine Learning, Natural Language Processing, Context-aware Computing, and Computer Vision), By Application (Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Risk Management, and Freight Brokerage), By End-User (Automotive, Aerospace, Manufacturing, Healthcare, and Food and Beverages), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034’’ 

Key Highlights:

• In 2021, AT&T and H2O.ai collaborated to create an AI feature store to organise and reuse data and machine learning engineering skills. The AI Feature Store is where data scientists, developers, and engineers can find and download the features they need to build AI models. AT&T has put the AI Feature Store into production, ensuring that it meets the company's high standards for performance, stability, and scalability. AT&T and H2O.ai announced today that the same solution in production at AT&T, with all of its industry-first features, will now be offered to any enterprise or organisation as the "H2O AI Feature Store."

Analyst View:

During the forecast period, the need for companies to enhance their sales is projected to boost the market for AI in manufacturing and supply chains. The market for AI is being driven by the manufacturing industry's demand for efficiency, time, and cost reductions. However, the market's growth is projected to be limited by a lack of effective laws as well as AI's reliability difficulties. The manufacturing and supply chain market for AI is likely to grow, as manufacturers in all regions strive to improve their operations by incorporating new tools and techniques as technology advances.

Key Market Insights from the report:

The Artificial Intelligence in Supply Chain Market size was valued at USD 675.77 million in 2020 and expected to expand to USD 9928.85 million at a compound annual growth rate (CAGR) of 31.1%. The artificial intelligence in supply chain market is segmented based on offerings, technology, application, end-user, and region.

• Based on Offering, Artificial Intelligence in Supply Chain Market is segmented into Hardware, Software, and Services.
• Based on Technology, Artificial Intelligence in Supply Chain Market is segmented into Machine Learning, Natural Language Processing, Context-aware Computing, and Computer Vision.
• Based on Application, Artificial Intelligence in Supply Chain Market is segmented into Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Risk Management, and Freight Brokerage.  
• Based on End-User, Artificial Intelligence in Supply Chain Market is segmented into Automotive, Aerospace, Manufacturing, Healthcare, and Food and Beverages.  
• By Region, the Artificial Intelligence in Supply Chain Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Artificial Intelligence in Supply Chain Market:

The key players operating in the artificial intelligence in supply chain market includes Nvidia Corporation, Xilinx, Inc., Samsung Electronics, Intel Corporation, IBM Corporation, Microsoft Corporation, Oracle Corporation, Amazon Inc., Google Inc., Cisco Systems, SAP SE, and LLamasoft, Inc. For instance, on June 2019, AB Volvo has decided to partnership with Nvidia Corporation to develop AI platform for driverless trucks.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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