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AI in Supply Chain Market to be Worth $58.55 Billion by 2031 – Exclusive Report by Meticulous Research®

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REDDING, Calif., May 30, 2024 /PRNewswire/ — According to a new market research report titled, ‘AI in Supply Chain Market by Offering (Hardware, Software, Other), Technology (ML, NLP, RPA, Other), Deployment Mode, Application (Demand Forecasting, Other), End-use Industry (Manufacturing, Retail, F&B, Other) & Geography—Forecasts to 2031’, the AI in supply chain market is projected to reach $58.55 billion by 2031, at a CAGR of 40.4% from 2024 to 2031.

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The adoption of artificial intelligence in the supply chain is launching a new era of industrial transformation. AI allows companies to automate tasks, forecast demand, optimize routes, manage inventory, and even monitor security, compliance, and other supply chain tasks. In addition, AI is used to optimize inventory management, reduce waste, and conserve resources by ensuring that the right products are in the right place at the right time.
Some of the factors driving the growth of this market are the increasing incorporation of artificial intelligence in supply chain operations and the rising need for greater visibility & transparency in supply chain processes. However, the high procurement & operating costs of AI-based supply chain solutions and the lack of supporting infrastructure restrain the growth of this market.
The AI in supply chain market is segmented by offering (hardware (processors, networking, and storage), software, and services (deployment & integration services, connectivity services, support & maintenance services, and consulting services)), technology (machine learning, computer vision, natural language processing, context-aware computing, and robotic process automation), deployment mode (cloud-based deployments and on-premise deployments), application (demand forecasting, supply chain planning, warehouse management, fleet management, risk management, inventory management, predictive maintenance, real-time supply chain visibility, and other applications), end-use industry (manufacturing, food and beverage, healthcare & pharmaceuticals, automotive, retail, building & construction, medical devices & consumables, aerospace & defense, and other end-use industries). The study also evaluates industry competitors and analyses the market at the regional and country levels.
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Based on offering, the AI in supply chain market is segmented into hardware, software, and services. In 2024, the hardware segment is expected to account for the largest share of 44.4% of the AI in supply chain market. The large market share of this segment is attributed to advancements in data center capabilities, the growing need for storage hardware due to increasing storage requirements for AI applications, the crucial need for constant connectivity in the supply chain operations, and the emphasis on product development and enhancement by manufacturers. For instance, in January 2023, Intel Corporation launched its 4th Gen Intel Xeon Scalable processors (code-named Sapphire Rapids), the Intel Xeon CPU Max Series (code-named Sapphire Rapids HBM), and the Intel Data Center GPU Max Series (code-named Ponte Vecchio). These new processors deliver significant improvements in data center performance, efficiency, security, and AI capabilities.
Based on technology, the Artificial Intelligence in supply chain market is segmented into machine learning, computer vision, natural language processing, context-aware computing, and robotic process automation. In 2024, the machine learning segment is expected to account for the largest share of 63.0% of the AI in supply chain market. The large market share of this segment is attributed to the advancements in data center capabilities, increasing deployment of machine learning solutions and its ability to perform tasks without relying on human input, and the rapid adoption of cloud-based technology across several industries. For instance, in June 2022, FedEx Corporation (U.S.) invested in FourKites, Inc. (U.S.), a supply chain visibility startup. This strategic collaboration allows FedEx to leverage its machine learning and AI capabilities with data from FedEx, enhancing its operational efficiency and visibility.
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Based on deployment mode, the AI in supply chain market is segmented into cloud-based deployments and on-premise deployments. In 2024, the cloud-based deployments segment is expected to account for the larger share of 75.6% of the AI in supply chain market. The large market share of this segment is attributed to the increasing avenues for cloud-based deployments, the superior flexibility and affordability offered by cloud-based deployments, and the increasing adoption of cloud-based solutions by small & medium-sized enterprises.
Based on application, the AI in supply chain market is segmented into demand forecasting, supply chain planning, warehouse management, fleet management, risk management, inventory management, predictive maintenance, real-time supply chain visibility, and other applications. In 2024, the demand forecasting segment is expected to account for the largest share of 25.2% of the AI in supply chain market. The large market share of this segment is attributed to the rising initiatives to integrate AI capabilities in supply chain solutions, dynamic changes in customer behaviors and expectations, and the rising need to achieve accuracy and resilience in the supply chain. For instance, in March 2023, Zionex, Inc. (South Korea), a prominent provider of advanced supply chain and integrated business planning platforms, launched PlanNEL Beta. This AI-powered SaaS platform is designed for demand forecasting and inventory optimization.
Based on end-use industry, the AI in supply chain market is segmented into manufacturing, food and beverage, healthcare & pharmaceuticals, automotive, retail, building & construction, medical devices & consumables, aerospace & defense, and other end-use industries. In 2024, the manufacturing segment is expected to account for the largest share of 23% of the AI in supply chain market. The large market share of this segment is attributed to the increasing number of manufacturing companies, favorable initiatives to integrate artificial capabilities in the supply chain, and the increasing focus on achieving accuracy and resilience in the supply chain among manufacturers.
Based on geography, the AI in supply chain market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 37% of the AI in supply chain market. The large market share of this region is attributed to the rapid pace of digitalization and modernization across industries, the advent of Industry 4.0, and the growing adoption of advanced technologies across various businesses.
Key Players:
Some of the key players operating in the AI in supply chain market are IBM Corporation (U.S.), SAP SE (Germany), Microsoft Corporation (U.S.), Google LLC (U.S.), Amazon Web Services, Inc. (U.S.), Intel Corporation (U.S.), NVIDIA Corporation (U.S.), Oracle Corporation (U.S.), C3.ai, Inc. (U.S.), Samsung SDS CO., Ltd. (South Korea), Coupa Software Inc. (U.S.), Micron Technology, Inc. (U.S.), Advanced Micro Devices, Inc. (U.S.), , FedEx Corporation (U.S.), and Deutsche Post DHL Group (Germany).
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Scope of the report:
AI in Supply Chain Market Assessment, by Offering
HardwareProcessorsNetworkingStorageSoftwareServicesDeployment & Integration ServicesSupport & Maintenance ServicesConsulting ServicesConnectivity ServicesAI in Supply Chain Market Assessment, by Technology
Machine LearningComputer VisionNatural Language ProcessingContext-aware ComputingRobotic Process AutomationAI in Supply Chain Market Assessment, by Deployment Mode
Cloud-based DeploymentsOn-premise DeploymentsAI in Supply Chain Market Assessment, by Application
Demand ForecastingSupply Chain PlanningWarehouse ManagementFleet ManagementInventory ManagementReal-time Supply Chain VisibilityOther ApplicationsAI in Supply Chain Market Assessment, by End-Use Industry
ManufacturingFood and BeverageHealthcare & PharmaceuticalsAutomotiveRetailBuilding & ConstructionMedical Devices & ConsumablesAerospace & DefenseOther End-use IndustriesAI in Supply Chain Market Assessment, by Geography
North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainSwedenRest of EuropeAsia-PacificChinaJapanIndiaSouth KoreaSingaporeRest of Asia-PacificLatin AmericaBrazilMexicoRest of Latin AmericaMiddle East & AfricaUAEIsraelRest of the Middle East & AfricaUnlock Opportunities: Buy Now- https://www.meticulousresearch.com/Checkout/12852079 
Related Report:
AI in Manufacturing Market by Component, Technology (ML, NLP, Computer Vision), Application (Predictive Maintenance & Machinery Inspection, Quality Management, Supply Chain Optimization), End-use Industry – Global Forecast to 2030
AI Training Dataset Market, by Type (Text, Audio, Image & Video), End-use Industry, and Geography – Global Forecast to 2029
Healthcare Artificial Intelligence Market by Product and Services (Software, Services), Technology (Machine Learning, NLP), Application (Medical Imaging, Precision Medicine, Patient Management), End User (Hospitals, Patients) – Global Forecast to 2027
Smart Manufacturing Market by Technology (Robotics, AI, IIoT, Cloud, AR/VR), Application (Machine Inspection; Energy, Quality, and Warehouse Management; Planning, Surveillance, Optimization), End-use Industry, and Geography – Global Forecast to 2029
Artificial Intelligence in Retail Market by Offering, Application (Predictive Merchandizing, Programmatic Advertising), Learning Technology (Machine Learning, Computer Vision), and Geography – Global Forecast to 2030
Related Blogs:
The Rising Need For Greater Visibility & Transparency In Supply Chain Processes Expected To Drive AI In Supply Chain Market
Top 10 Companies in Artificial Intelligence (Ai) in Supply Chain Market
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:Mr. Khushal BombeMeticulous Market Research Inc.1267 Willis St, Ste 200 Redding,California, 96001, U.S.USA: +1-646-781-8004Europe: +44-203-868-8738APAC: +91 744-7780008Email- [email protected] Visit Our Website: https://www.meticulousresearch.com/Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-researchContent Source: https://www.meticulousresearch.com/pressrelease/272/ai-in-supply-chain-market-2031
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Artificial Intelligence

Twelve Students from KIIT-DU Qualify for Paris Olympics

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KIIT-KISS Founder announces Rs 7 lakh to each of the athletes 
BHUBANESWAR, India, July 19, 2024 /PRNewswire/ — In a big achievement for KIIT Deemed to be University (KIIT-DU), Bhubaneswar, 12 students have successfully qualified for the Paris Olympics 2024 beginning July 26, bringing pride and joy to the institution.

KIIT is the first university in the country to be sending the largest contingent of athletes among all universities in India.
The Founder of KIIT and KISS Dr Achyuta Samanta has announced Rs 7 lakh to each of the athletes, encouraging them to give their best in the field and bring glory to the country. 
The athletes who have earned their spots are — Amit Rohidas in Men’s Hockey, Kishore Kumar Jena in Javelin Throw; Parul Chaudhary in 3000m Steeplechase & 5000m; Priyanka in 20 km Race Walk & Marathon Race Walk Mixed Relay; Annu Rani in Javelin Throw; Jyothi Yarraji in 100m Hurdles; Tajinderpal Singh Toor in Shot Put; Abha Khatua in Shot Put; Prachi in the 4x400m Relay Team; Ankita in 5000m; Paramjeet Singh Bisht in 20km Race Walk and Suraj Panwar in the Marathon Race Walk Mixed Relay Team. 
Dr. Achyuta Samanta, Founder, KIIT & KISS, congratulated the proud contingent at a special programme in Bhubaneswar, saying, “Your hard work and dedication have brought you to this prestigious stage.” He declared Rs. 7 lakh cash support to each player. All 12 players, who are currently in various camps in different countries of Europe, joined the programme virtually. 
Informing the media, Dr. Samanta said that KIIT & KISS is the first organization in India to send the highest number of players to the Olympics. He also mentioned that KIIT & KISS has produced 20 Olympians and 2 Paralympians who represented India at the 2016 Rio Olympics, the 2020 Tokyo Olympics, and will be representing the country at the 2024 Paris Olympics. KIIT & KISS is proud to have 7 Arjuna Awardees, he added.
“We are happy that 12 students from KIIT are participating in the Paris Olympics 2024, making us and the country proud. Give your best and shine with your achievements. The entire KIIT & KISS family stands behind you, cheering you on”, he said.
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eQ Technologic Elevates Industry Standards with Inaugural Customer Conference, exeQute

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COSTA MESA, Calif., July 18, 2024 /PRNewswire/ — In an era brimming with industry conferences, eQ Technologic, Inc., the developers of the eQube®-DaaS Platform, is making a bold entrance with its inaugural customer conference, exeQuteSM, Oct. 7-10, 2024. Unlike other customer conferences in the data as a service (DaaS) industry, exeQute is set to stand out with a focus on actionable tactics tailored to meet the unique needs of its customers, reflecting the company’s deep commitment to customer-centricity and innovation.

As Gartner predicts that by 2027, 25% of CIOs will have compensation linked to their sustainable technology impact, exeQute’s conference is shaping the future of digital transformation with sustainability and responsibility top of mind. This conference goes beyond theoretical discussions, offering a hands-on experience where top brands share real-world solutions that attendees can immediately apply. This focus on actionable content ensures that every participant leaves with a toolkit of strategies to drive improvements in their business.
eQ Technologic’s dedication to understanding customer needs is evident in every aspect of exeQute. The conference sessions delve into the specific challenges faced by customers, offering personalized solutions and insights. This tailored approach showcases the company’s commitment to not just listening to its customers but collaborating with them to develop solutions that drive their success.
“Execution is one of our key operating principles at eQ. An organization’s ability to execute materially separates winners from the pack,” said Dinesh Khaladkar, President & CEO of eQ Technologic. “We strongly believe that the gap between the future and now is bridged by execution. The future doesn’t just happen, it must be defined, and actions must be taken to achieve it. It’s time to envision what lies ahead and act upon the future vision with exeQute.”
exeQute provides a unique platform for attendees to network with industry leaders, peers, analysts, and media, fostering a collaborative environment where new ideas and partnerships will enable the future growth of companies. The conference’s comprehensive approach to addressing both current challenges and future opportunities highlights eQ Technologic’s role as a catalyst for positive change in the industry by catalyzing cross-industry innovation and offering insight into how organizations leverage eQ’s industry agnostic solutions to gain and maintain a competitive advantage.
exeQute is not merely another event in the crowded conference landscape. It is setting a new standard for customer engagement, providing value through actionable insights, innovative solutions, and a steadfast commitment to sustainable practices. For those seeking to navigate the complexities of digital transformation responsibly, exeQute is an indispensable resource, reinforcing eQ Technologic’s position as a leader in the industry. With executives and decision-makers from some of the world’s leading organizations, the conference will unravel future trends, disruptive technologies, and emerging opportunities. Power-packed with keynotes, success stories, product roadmaps, demos, fireside chats, and more, the conference furthers eQ Technologic’s position as a leader in the industry.
Conference details:
VEA, A Marriott Resort & Spa, Newport Beach, California Oct. 7-11, 2024 Agenda, speakers, sponsorship opportunities, and registration information can be found at exequteconference.com.
About eQ Technologic
Over the past two decades, eQ has been instrumental in accelerating digital transformation across industries such as Aerospace & Defense, Department of Defense, Automotive, Energy, Heavy-Machinery, Electronics, High-Tech, Electronics, Consumer Packaged Goods (CPG), and more.
The Low/No-Code eQube®-DaaS (Data as a Service) Platform establishes a Data Fabric with a connected network of integrated data, applications and devices that puts the power of analytics in the hands of end users, leading to Actionable Insight. eQ’s 100+ OOTB plug and play Connectors connect disparate heterogeneous systems in an instant, empowering organizations to work with any data, any format, any API, any speed, with any system, any application, and any device without writing any code. It enables secure, scalable, and robust information collaboration while honoring security rules. This enables eQ to offer solutions like Digital Thread, CLM (Closed Loop Manufacturing), Multi-PLM Solutions, For-purpose Apps, API Factory with Common Data Model, and many others.
Some of eQ’s marquee customers include Lockheed Martin, Northrop Grumman, US Navy, Rolls-Royce, Collins Aerospace, Pratt & Whitney, Adient, ULA, Moog, Micron Technologies, Boeing, General Electric, Siemens Energy, Panasonic, EDF, and General Dynamics to name a few.
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Research Solutions Announces Partnership with Jisc to Enhance UK Higher & Further Education Research

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This highlights Research Solutions’ commitment to improving the quality and accessibility of scientific research for academic institutions.
HENDERSON, Nev., July 18, 2024 /PRNewswire/ — Research Solutions (NASDAQ: RSSS), a trusted partner providing cloud-based workflow solutions to accelerate research for R&D-driven organizations, is proud to announce a significant partnership with Jisc, the UK digital, data, and technology agency focused on tertiary education, research, and innovation.

This collaboration will make Scite’s award-winning AI platform more affordable and accessible for more than 280 higher education and research institutions in the UK. It aims to advance research quality by leveraging ethical AI technology.
Scite, now part of the Research Solutions family, is transforming the discovery and evaluation of scientific articles through its innovative Smart Citations and AI Assistant. This advanced technology allows researchers to gain deeper insights into the impact and relevance of scientific work.
Beyond its powerful discovery search capabilities across over 187 million publications, 2 billion references, and 1.3 billion citation statements, Scite offers unique workflows for identifying editorial concerns and providing instant reference analysis through its Reference Check feature. The platform also enables the creation of integrated dashboards with reference library tools and validates large language models, assisting in the creation of structured literature reviews via Scite Assistant.
Scite is utilized by researchers and institutions worldwide, underscoring its global impact and commitment to advancing scientific research and innovation.
“We’re thrilled to be partnering with Jisc to make Scite more readily available to the Higher Education institutions in the UK,” states Josh Nicholson, co-founder of Scite and Chief Strategy Officer at Research Solutions. “By bringing context to citations, we can provide a better way to discover, understand, and evaluate research, something that is critically needed in the world today.”
Jisc’s endorsement of Scite highlights the platform’s value in delivering accurate, insight-rich research tools to prestigious institutions such as the University of Manchester and the University of Exeter. Research Solutions is delighted to extend services to additional UK educational institutions and looks forward to making significant contributions to the academic landscape.
For more information on how Jisc is enhancing lives through the digital transformation of education and research, visit their website here. To learn more about how Scite and Research Solutions are providing universities and libraries with tools to elevate their academic work, click here.
About Jisc
Jisc’s vision is for the UK to be a world leader in technology for education and research. It owns and operates the super-fast national research and education network, Janet, with built-in cyber security protection. Jisc also provides technology solutions for members (colleges, universities, and research centres) and customers (public sector bodies), helps members save time and money by negotiating sector-wide deals and provides advice and practical assistance on digital technology. Jisc is funded by the UK higher and further education and research funding bodies and member institutions. For more information, contact [email protected] or 07443 983571.
About Research Solutions
Research Solutions, Inc. (NASDAQ: RSSS) provides cloud-based technologies to streamline the process of accessing, managing, and creating intellectual property. Since its founding, the company has been a pioneer in developing solutions to serve researchers. Today, more than 70 percent of the top pharmaceutical companies, prestigious universities, and emerging businesses rely on our family of products, powered by AI and NLP technologies, to support the innovation process from end to end with the most comprehensive information and knowledge tools on the market. For more information and details, please visit www.researchsolutions.com.
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