Artificial Intelligence
AI in Supply Chain Market to Reach $58.55 Billion by 2031, Driven by AI Integration and Growing Need for Enhanced Visibility and Transparency in Supply Chain Operations – Exclusive Report by Meticulous Research®
REDDING, Calif., Sept. 11, 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), and Geography—Global Forecast 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 increasing incorporation of Artificial Intelligence (AI) in supply chain operations and the rising need for greater visibility & transparency in supply chain processes are key factors driving the growth of the AI in supply chain market. However, the high procurement & operating costs of AI-based supply chain solutions and the lack of supporting infrastructure restrain the growth of this market.
In addition, the growing demand for AI-based business automation solutions is expected to generate market growth opportunities. However, performance issues in integrating data from multiple sources and data security & privacy concerns are major challenges impacting market growth. Additionally, the rising demand for cloud-based supply chain solutions is a prominent trend in the AI in supply chain market.
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Growing Demand for AI-Based Business Automation Solutions Generating Growth Opportunities for Market Players
Businesses are adopting automation technologies to increase efficiency, reduce manual efforts, and optimize costs and the utilization of resources and time. With advances in technologies such as Robotic Process Automation (RPA) and Artificial Intelligence (AI), businesses are transitioning from legacy practices to automated workflows to make business processes proactive, intelligent, and more effective. Artificial intelligence is increasingly being integrated into automated workflows, with supply chain processes, such as order processing, inventory management, and logistics, benefitting from reduced staffing needs and time and cost savings. The increasing focus on AI-powered business automation solutions is expected to generate growth opportunities for market players. Hence, the players in this market are launching advanced solutions to help enterprises increase business productivity and efficiency. For instance, in May 2023, ServiceNow, Inc. (U.S.), a leading digital workflow company, launched Finance and Supply Chain Workflows to help enterprises apply intelligent automation to business-critical processes. The workflows enable finance, supply chain, and procurement leaders to gain a competitive edge in today’s increasingly complex business environment. Using these workflows, enterprises can deploy automated capabilities across core business functions to drive efficiency and business value at scale, all on one, easy-to-use platform.
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Furthermore, enterprises are collaborating to deploy AI-based business automation solutions. For instance, in May 2024, Wipro (India), a leading technology services and consulting company, and Kognitos Inc. (U.S.), a leader in Generative Al Automation and a portfolio company of Wipro Ventures, announced a collaboration to deploy enterprise-ready GenAI-based Business Automation Solutions.
AI in Supply Chain Market Analysis: Key Segmental Findings
By Offering: In 2024, the hardware segment is expected to account for the largest share of 44.4% of the AI in supply chain market. However, the software segment is expected to register the highest CAGR of 43.2% during the forecast period 2024–2031.By Technology: In 2024, the machine learning segment is expected to account for the largest share of 63.0% of the AI in supply chain market. However, the robotic process automation segment is expected to register the highest CAGR of 42.9% during the forecast period 2024–2031.By Deployment Mode: In 2024, the cloud-based deployments segment is expected to account for the major share of the AI in supply chain market. However, the cloud-based deployments segment is expected to register the higher CAGR during the forecast period 2024–2031.By Application: In 2024, the demand forecasting segment is expected to account for the largest share of the AI in supply chain market. However, the real-time supply chain visibility segment is expected to register the highest CAGR during the forecast period 2024–2031.By End-use Industry: In 2024, the manufacturing segment is expected to account for the largest share of 23.1% of the AI in supply chain market. However, the retail segment is expected to register the highest CAGR of 47.8% during the forecast period 2024–2031.Get A Glimpse Inside: Request Sample Pages – https://www.meticulousresearch.com/request-sample-report/cp_id=5064
GEOGRAPHIC ANALYSIS:
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 36.9% of the AI in supply chain market. This market is projected to reach $24,214.6 million by 2031.
Asia-Pacific’s large share is attributed to the proliferation of advanced supply chain solutions, the rising deployment of AI tools across the region, and efforts by major market players to implement AI technology across various sectors. Developing APAC countries, including Thailand, the Philippines, and Vietnam, are formulating comprehensive national policies to promote the adoption and regulate the deployment of AI. Government strategies in countries such as Japan and Singapore are focused on fostering AI ecosystems and managing projects effectively.
Furthermore, technological advancements are encouraging businesses to adopt AI-based solutions to enable better decision-making. For instance, in March 2023, Sabre GLBL Inc. (U.S.), a leading software and technology provider, successfully implemented its Revenue Optimizer and Dynamic Availability solutions for Virgin Australia Airlines Pty Ltd (Australia). Thus, the rising adoption of AI technologies and the widespread deployment of AI across businesses are driving market growth in the region.
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In 2024, China is expected to account for the largest share of the AI in supply chain market in Asia-Pacific. China’s large market share is mainly attributed to the growing use of cloud services, the increasing government focus on technology development, and rising labor costs in the country.
China has established a robust policy framework for AI development. Private investments in AI are steadily increasing, positioning China as the second-largest investor globally, following the U.S. For instance, in June 2023, the Municipal Government of China unveiled a comprehensive three-year action plan (2023–2025) aimed at fostering the development of the country’s manufacturing industry. The plan identifies semiconductors and Artificial Intelligence (AI) as preferred industries for growth. Thus, supportive government initiatives aimed at promoting technology development and adoption are anticipated to drive the growth of the AI in supply chain market in China.
The U.S. Continues to Dominate the AI in Supply Chain Market in North America
In 2024, the U.S. is expected to account for the dominant share of the AI in supply chain market in North America. Increasing initiatives to attract investments in technology and strengthen the country’s supply chain, market players’ increasing focus on the development of supply chain solutions, and the proliferation of small businesses across the U.S. contribute to the country’s large market share.
Companies in the U.S. are investing in digital transformation, focusing specifically on supply chains, retail execution, and environmental sustainability. For instance, in February 2023, Procter & Gamble (U.S.) announced plans to launch a supply chain services platform for retail partners to enable the company to serve consumers better while streamlining its end-to-end supply chain and creating a sustainable and expanding competitive advantage. Moreover, key players in the country are focused on advancing their supply chain solutions, which is expected to further drive the growth of this market.
AI in Supply Chain Market: Competition Analysis
This report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted over the past 3–4 years. Major companies in the AI in supply chain market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by leading companies in the AI in supply chain market include product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the AI in supply chain market include 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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AI in Supply Chain Industry Overview: Latest Developments from Key Industry Players
In May 2024, SAP SE (Germany) collaborated with IBM Corporation (U.S.) to develop new generative AI capabilities and industry-specific cloud solutions that can help clients unlock business value.In January 2024, IBM Corporation (U.S.) collaborated with SAP SE (Germany) to develop solutions and help clients in the consumer packaged goods and retail industries enhance their supply chains, finance operations, sales, and services using generative AI.In November 2023, Amazon Web Services, Inc. (U.S.) launched four new capabilities for its AWS Supply Chain—combining Amazon’s supply chain experience with the resilience, security, and business continuity of an AWS-managed service to help customers optimize their supply chains.In June 2023, IBM Corporation (U.S.) extended its partnership with Adobe Inc. (U.S.) to help brands successfully accelerate their content supply chains through the implementation of next-generation AI, including Adobe Sensei GenAI services and Adobe Firefly (currently in beta).In May 2023, SAP SE (Germany) collaborated with Accenture plc (Ireland), a company specializing in information technology services and consulting, to offer customers increased transparency and visibility across assets and inventory, as well as faster value realization with the SAP Business Network.In March 2023, Microsoft Corporation (U.S.) launched Microsoft Dynamics 365 Copilot, an AI copilot for ERP and CRM applications. Copilot can unlock ERP’s potential by combining data and AI to reduce the time spent on unfulfilling tasks and accelerate the speed of execution and business outcomes.In December 2022, NVIDIA Corporation (U.S.) launched AI Enterprise 3.0, a GPU-powered software suite that enables businesses to drive growth and security while cutting costs to accelerate enterprise data science initiatives, streamline AI model deployment, and rapidly draw insights from data analytics.In November 2022, Microsoft Corporation (U.S.) launched the Microsoft Supply Chain Platform to help organizations maximize their existing supply chain investments with an open approach. The platform brings the best of Microsoft AI collaboration, low-code, security, and Software-as-a-Service (SaaS) applications to a composable platform.In November 2022, Amazon Web Services, Inc. (U.S.) launched AWS Supply Chain, a new app that helps businesses increase supply chain visibility and make faster, more informed decisions that help mitigate risks, lower costs, and improve customer experiences.In October 2022, Google LLC (U.S.) extended its partnership with Accenture plc (Ireland) to help retailers quickly adopt integrated solutions that apply the best of Google Cloud technology and deliver the benefits of AI and ML with tools and capabilities. Retailers can run demand forecasting, improve inventory planning, and develop strategies for supply chain segmentation.IMMEDIATE DELIVERY AVAILABLE | BUY THIS RESEARCH REPORT (Insights, Charts, Tables, Figures and More):- https://www.meticulousresearch.com/Checkout/12852079
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 Forecasting Supply Chain PlanningWarehouse ManagementFleet ManagementInventory ManagementReal-time Supply Chain VisibilityOther ApplicationsAI in Supply Chain Market Assessment—by End-use Industry
ManufacturingFood & BeverageHealthcare & PharmaceuticalsAutomotiveRetailBuilding & ConstructionMedical Devices & ConsumablesAerospace & DefenseOther End-use IndustriesAI in Supply Chain Market Assessment—by Geography
North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainSwedenRest of Europe (RoE)Asia-Pacific (APAC)ChinaJapanIndiaSouth KoreaSingaporeRest of Asia-Pacific (RoAPAC)Latin AmericaBrazilMexicoRest of Latin America (RoLATAM)Middle East & AfricaUAEIsraelRest of Middle East & AfricaMore Artificial Intelligence (AI) Related Market Research Reports –
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AI in Supply Chain Market Research Summary –
Particulars
Details
Number of Pages
282
Format
PDF
Forecast Period
2024–2031
Base Year
2023
CAGR (Value)
40.4 %
Market Size (Value)
USD 58.55 Billion by 2031
Segments Covered
By Offering
HardwareProcessorsNetworkingStorageSoftwareServicesDeployment & Integration ServicesSupport & Maintenance ServicesConsulting ServicesConnectivity ServicesBy Technology
Machine LearningComputer VisionNatural Language ProcessingContext-aware ComputingRobotic Process AutomationBy Deployment Mode
Cloud-based DeploymentsOn-premise DeploymentsBy Application
Demand ForecastingSupply Chain PlanningWarehouse ManagementFleet ManagementInventory ManagementReal-time Supply Chain VisibilityOther ApplicationsBy End-use Industry
ManufacturingFood and BeverageHealthcare & PharmaceuticalsAutomotiveRetailBuilding & ConstructionMedical Devices & ConsumablesAerospace & DefenseOther End-use IndustriesCountries Covered
North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, Sweden,Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Rest ofAsia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America) Middle East &Africa (UAE, Israel, Rest of the Middle East & Africa)
Key Companies
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.), NVIDIACorporation (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 PostDHL Group (Germany).
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Artificial Intelligence
90% of SEA prefers Instagram and WhatsApp for shopping convenience: Netcore Cloud’s Study Highlights Gen AI’s role in Shaping the Future
Study of 2000+ consumers & 300+ marketing executives unveils key trends driving growth in the $180bn Southeast Asian ecommerce market
SINGAPORE, Sept. 18, 2024 /PRNewswire/ — Offering a deep dive into the evolving Southeast Asian ecommerce landscape, leading global MarTech and customer engagement company, Netcore Cloud has released its comprehensive report, “Ecommerce Mindscape SEA 2024.” Featuring insights from key industry players such as Puma, Senheng, Zalora, Kanmo, Vietjet Air, Photobook, and Pomelo, the report provides a roadmap for businesses to thrive in this rapidly growing market, projected to reach $180 billion by 2025.
As Southeast Asia’s ecommerce sector witnesses exponential growth, the report highlights how marketers leverage Generative AI (Gen AI), hyper-personalization, and seamless cross-channel integration to meet the evolving needs of digitally savvy consumers. The region’s unique urban-rural divide is being bridged by rising mobile penetration, diverse payment methods, and the increasing dominance of mobile apps.
Key insights from the report:
TikTok Shops dominate, but Instagram and WhatsApp Shops are fast gaining ground, with close to 90% of consumers praising their shopping convenience.Consumers in SEA demand personalized shopping journeys powered by Gen AI, focusing on swift product discovery, relevant recommendations, and minimal marketing intrusions,70% of CEOs plan to increase investments in Gen AI to boost personalization, predictive analytics, and customer journey optimization,93% of consumers find online shopping too complicated with excessive steps.Saket Kumar Jha, Chief Revenue Officer – Emerging Markets at Netcore Cloud, commented on the report’s findings: “As the Southeast Asian ecommerce market grows, personalization and innovation remain critical for brands aiming to differentiate themselves. Gen AI is at the forefront of this transformation, empowering brands to create more immersive, tailored consumer experiences. This report outlines essential strategies for marketers to stay competitive and capture the opportunities presented by this dynamic market.”
The report emphasizes that retention and repeat purchases are key to sustained profitability, particularly as customer acquisition costs (CACs) rise across the region. Brands are encouraged to invest in Gen AI-powered Customer Data Platforms (CDPs) and Customer Relationship Management (CRM) tools to improve engagement and enhance customer loyalty.
To access the ‘Ecommerce Mindscape SEA 2024’ report, visit [LINK].
About Netcore Cloud
Netcore Cloud is a bootstrapped SaaS company that helps B2C brands and marketers create AI-powered new-age customer experiences at every touchpoint of a customer’s journey. Netcore Cloud’s full-stack marketing platform enables highly personalized digital experiences that are easily scalable and provide actionable analytics, real-time reporting, and quick-to-implement solutions across channels. Brands using Netcore Cloud can have a unified view of their customers and optimize their user experience.
Headquartered in Mumbai, India, with 11 offices across the USA, Singapore, Malaysia, Nigeria, Indonesia, UAE, UK, and Germany, Netcore Cloud serves 6500+ customers across the globe. It delivers 35+ bn emails and tracks 100+ billion marketing events every month. Netcore Cloud is a trusted partner across industries with some of the most respected brands like MaxLife Insurance, ICICI Bank, Standard Chartered, Flipkart, Myntra, Miss Amara, Airtel, Disney Hotstar, Canon, Puma, Tobi, EaseMyTrip, PizzaHut and McDonald’s. For more information, visit https://netcorecloud.com/
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ANAHEIM, Calif., Sept. 17, 2024 /PRNewswire/ — Fractal EMS Inc. (“Fractal”), a leading provider of advanced solar and storage controls, has announced a groundbreaking partnership with Gold Electronic Equipment Inc. (“Gold”), a leading high-tech company specializing in R&D, active balancing technology and manufacturing of the battery management system (BMS). A signing ceremony and celebration was held on September 9th at the RE+ clean energy conference in Anaheim, California. The new partnership will provide a cybersecure American BMS to customers worldwide (“Fractal BMS”).
The Fractal BMS provides a 3-level BMS architecture (module, rack and system). The design of the Fractal BMS has been finalized, featuring an American-sourced chip, printed circuit board assembly (PCBA), and cybersecurity, ensuring compliance with U.S. policies for sourcing and critical infrastructure protection. The Fractal BMS has the option to provide active cell balancing to maximize each battery cell’s useful capacity and life.
“Other companies proposing an American BMS have not addressed the cybersecurity concerns of the BMS. Some companies are licensing a foreign BMS or only providing a top-level device, neither of which cure cybersecurity threats and vulnerabilities. We are thrilled to collaborate with Gold to bring this advanced American BMS to the market. This partnership underscores our commitment to innovation, security, and supporting American technology,” said Daniel Crotzer, CEO at Fractal EMS.
Fractal BMS is scheduled for UL testing in late October 2024 and aims to become the gold standard for BESS deployments to mitigate risks associated with Foreign Entities of Concern (FEOC) and known cyber vulnerabilities in programmable devices. The American BMS will be available to battery manufacturers globally, offering a reliable and secure solution for battery management needs.
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Based on Completeness of Vision and Ability to Execute
FRISCO, Texas, Sept. 17, 2024 /PRNewswire/ — Redwood Software, a leading and innovative provider of solutions in Service Orchestration and Automation Platforms (SOAP), today announced that Redwood Software has been positioned by Gartner® as a Leader in the Magic Quadrant for SOAP report. The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute.
Fully focused on automation to drive business outcomes, Redwood’s portfolio of SOAP solutions includes RunMyJobs, ActiveBatch and Tidal, all of which are integrated with Redwood’s highly secure managed file transfer solution, JSCAPE. Redwood uniquely enables enterprises to orchestrate all applications, processes and data, delivering end-to-end automation fabrics for critical processes such as data pipeline management, order-to-cash, record-to-report and supply chain management.
Redwood believes that customers benefit from:
The only SaaS-based composable automation solution purpose-built for hybrid cloud and designed to scale with lightweight auto-updating agentsAn extensive library of pre-built connectors to avoid custom coding, including SAP integrations at the transaction level that maintain a clean coreAdvanced real-time SLA management and monitoring with predictability and dynamic schedulingBest-in-class, rapid response support teams with 24/7 support, contributing to an industry-leading 48 net promoter score (NPS)”At Redwood, we believe in the transformative power of automation. We believe every IT and business process that can be automated, should be automated and lights-out automation is key to continuous growth, innovation and success,” said Kevin Greene, Redwood Software CEO. “This recognition from Gartner, who we feel is one of the most trusted voices in technology research, we believe demonstrates Redwood’s dedication to delivering industry-leading automation solutions, providing people the time and freedom to imagine and define the future – unleashing their human potential.”
A Gartner Magic Quadrant is a culmination of research in a specific market, giving you a wide-angle view of the relative positions of the market’s competitors. A Magic Quadrant provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct: Leaders execute well against their current vision and are well positioned for tomorrow. Visionaries understand where the market is going or have a vision for changing market rules, but do not yet execute well. Niche Players focus successfully on a small segment or are unfocused and do not out-innovate or outperform others. Challengers execute well today or may dominate a large segment, but do not demonstrate an understanding of market direction.
View a complimentary copy of the Magic Quadrant report to learn more about why Redwood Software was positioned as a Leader at https://www.redwood.com/resource/gartner-soaps-mq/.
Additional resources
Explore Redwood Software on this blog
Follow Redwood Software on LinkedIn
Visit Redwood at Gartner IT Infrastructure, Operations & Cloud Strategies Conferences in the UK and US
Gartner disclaimer
Gartner, Inc. Magic Quadrant for Service Orchestration and Automation Platforms. Hassan Ennaciri, Chris Saunderson, etl. 11 September 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Redwood Software
Redwood Software is the leader in full stack automation fabric solutions for mission-critical business processes. With the first SaaS-based composable automation platform specifically built for ERP, we believe in the transformative power of automation. Our unparalleled solutions empower you to orchestrate, manage and monitor your workflows across any application, service or server — in the cloud or on premises — with confidence and control. Redwood’s global team of automation experts and customer success engineers provide solutions and world-class support designed to give you the freedom and time to imagine and define your future. Get out of the weeds and see the forest, with Redwood Software. For more information, visit www.redwood.com. Follow Redwood Software on LinkedIn, @Redwood Software.
Media Contact: Liz Reilly, [email protected]
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