Artificial Intelligence In Supply Chain Market Is Estimated To Reach USD 4.8 Billion In 2024

Global Artificial Intelligence in Supply Chain Market: Key Highlights

According to the new market research report “Artificial Intelligence in Supply Chain Market by Component (Hardware, Software, Services), By Technology (Machine Learning, NLP, Computer Vision), By Application (Operational Procurement, Supply Chain Planning, Warehouse Management, Supplier Relationship Management , Demand Planning and Others), by End-User (Consumer Goods, Industrial, Energy & Power, Aerospace and Others) by Region (Asia-Pacific, North America, Europe, Middle East & Africa) – Global Forecast 2019 to 2024”, the global Artificial Intelligence in Supply Chain Market is estimated to reach USD 4.8 Billion by 2024 at a CAGR of around 41.6% during the review period.
Adoption of AI to optimize supply chain advance the transparency and visibility on supply chain along with customer demand is witness to increase the market demand.
However high initial capital cost remain a major restraining factor for the growth of the Artificial Intelligence in Supply Chain Market

Artificial Intelligence in Supply Chain Market

Global Artificial Intelligence in Supply Chain Market: Key Market Dynamics

Automate processes with artificial intelligence (AI) enhance the visibility across the supply chain and increase the quality of product.
Improve the ability to predict the industry trends with the help of client by analyzing the data and required result will enhance the adoption of AI in supply china market.
Advancement in logistics services by reducing the operational cost with the supply chain. Also it can function without error with longer duration.
Skill gaps is a major restraining factor in the market as in artificial intelligence the software development to data is always upgrading with advance features which may lead to create a knowledge gap.

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Global Artificial Intelligence in Supply Chain Market: Regional Overview

Asia-Pacific:

The artificial intelligence in supply chain market in the Asia-Pacific region is projected to witness high demand due to the high adoption and productivity rate of consumer electronics in the region. According to the survey of Microsoft in 2018, 39% are using driverless cars and 36% are thought software robots which would increase the productivity. According to Governance of Artificial Intelligence in Asia-Pacific, in 2016 China total investment in the artificial intelligence has reach by USD 2.6 Billion.

Europe

Owing to the rapid growth of the emerging technology in Europe, the demand for artificial intelligence is expected to increase. According to the European Commission, in 2018 to boost the AI in Europe the member states had joined forced with the European commission in the coordinated plan on artificial intelligence. In 2018, the region had signed a declaration of cooperation on Artificial Intelligence (AI) .

Global Artificial Intelligence in Supply Chain Market: Key Players Overview

SAP SE:

SAP SE is a multinational company which product software to manage business operation and relation with customer. The company has become market in end to end enterprise application software and intelligence technologies. The SAP AI business services help their user to reach the intelligence enterprise by providing its services. In 2019, company has announced a series of innovations to SAPS/4HANA for artificial intelligence (AI) and robotics, and to customize applications.

Micron Technology, Inc.:

Micron Technology, Inc. is a producer of computer data storage which contain dynamic random access memory and USB flash drives. The company provides a new generation of faster intelligence which produces artificial intelligence. Also, the fast and high performance and high capacity memory and multi-chip package power artificial intelligence. In 2019, the company acquired Fwdnxt to move Artificial Intelligence deep learning application software and hardware.

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