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
CYRISMA, a leading Risk Management Platform for MSPs, secures $7 million Growth Equity Financing led by Blueprint Equity
ROCHESTER, N.Y., Oct. 9, 2024 /PRNewswire/ — CYRISMA, an all-in-one risk management platform, announced its Series A financing today. Led by Blueprint Equity, with participation from SaaS Venture and Golden Ventures, the funding will accelerate CYRISMA’s platform development, fuel customer success, and expand sales and marketing initiatives.
CYRISMA accelerates security programs for MSPs by providing a cost-effective, all-in-one solution to identify, prioritize, and remediate vulnerabilities, track compliance requirements, and manage AI security risk.
“In partnering with Blueprint Equity, we are excited to leverage their expertise and resources to further enhance our platform and support our customers,” said Liam Downward, co-founder and CPO of CYRISMA. “This investment will allow us to continue delivering an affordable and comprehensive risk management solution, empowering MSPs to protect their clients effectively. Additionally, it enables us to enter into new markets, expanding our reach and increasing brand awareness.”
Blueprint Equity’s Sheldon Lewis, who will join CYRISMA’s Board of Directors, commented, “With the rise of security threats for SMBs, there’s been an increasing number of businesses outsourcing their cybersecurity to MSPs. This has accelerated demand in the market for strong, multi-tenant cybersecurity solutions for MSPs to best serve their clients.” He added, “We were drawn to the breadth of the CYRISMA platform and their strong customer satisfaction. Oliver Downward, CEO, Liam, and the team have an unparalleled insight into the MSP market, and we’re honored to partner with CYRISMA during their next phase of growth.”
About CYRISMA
CYRISMA is an all-in-one risk management platform for Managed Service Providers. With the rise in security threats and demand for cybersecurity services, CYRISMA provides MSPs with an effective, all-in-one solution to manage their cybersecurity initiatives for clients in a multi-tenant platform. To schedule a demo of CYRISMA, please visit https://www.cyrisma.com/.
About Blueprint Equity
Blueprint Equity provides expansion capital to high-growth, capital-efficient enterprise software and technology-enabled services businesses worldwide. Blueprint has $275 million of assets under management and is based in La Jolla, CA. For more information, please visit www.onblueprint.com.
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Artificial Intelligence
Centivax Selects Global CDMO BioCina to Initiate cGMP Manufacturing of Revolutionary Universal Influenza Vaccine
ADELAIDE, South Australia, Oct. 9, 2024 /PRNewswire/ — BioCina Pty Ltd., a global end-to-end biologics Contract Development and Manufacturing Organization (CDMO), announced a new partnership with Centivax, Inc., for a project involving cell line development, cell banking and plasmid DNA manufacture. Centivax is developing Cent-Flu, a universal influenza vaccine, consisting of a proprietary multivalent mixture of 22 unique mRNA transcripts delivered as a lipid nanoparticle (LNP) encapsulated mRNA vaccine. In vivo, the vaccine has been demonstrated to convey protection against current, past, and future influenza strains. BioCina will provide proven expertise in the selection of optimal plasmid manufacturing cell lines, Master Cell Bank (MCB) and plasmid manufacturing, to support Centivax’s progression to First-in-Human clinical trials.
BioCina’s Chief Executive Officer, Mark W. Womack stated, “We’re privileged to support Centivax’s breakthrough approach to sustained flu prevention and we couldn’t be more excited to be their partner of choice to initiate cGMP manufacturing, thus advancing the journey to bring such an important vaccine to market. This is a tremendous opportunity for the BioCina Team to leverage our world-class capabilities in cell line development, cell banking, and cGMP plasmid production.”
Centivax’s Chief Executive Officer, Jacob Glanville, said, “We are thrilled to announce BioCina as our Master Cell Bank manufacturing partner for the first phase of manufacturing our universal influenza vaccine. BioCina’s exemplary expertise and track record in mRNA/LNP MCB, combined with their state-of-the-art facilities, aligns perfectly with Centivax’s commitment to innovation and quality. This partnership enables us to leverage BioCina’s expertise to ensure the highest standards of vaccine production. Together, we’re taking a significant step forward in bringing our universal influenza vaccine to market, with the goal of providing broad, lasting protection against the disease on a global scale.”
About BioCinaBioCina is a global end-to-end biologics Contract Development and Manufacturing Organisation (CDMO), offering highest-quality, cost-effective cell line, process, analytical and formulation development, and cGMP clinical & commercial manufacturing for the microbial, pDNA and mRNA modalities. BioCina’s first facility in Adelaide, South Australia has a rich history of developing and manufacturing both clinical and commercial drug substance, backed by most critical SME’s having an average tenure of 15+ years at the site. BioCina boasts an elite quality record having successfully passed regulatory inspections by the US FDA, EMA, TGA and Health Canada. Through a partnership with NovaCina, BioCina offers clients a highest-quality fill-and-finish solution. BioCina is proud to have clients globally, including the U.S., Europe, and the Asia Pacific. Australia offers one of the most attractive tax incentives globally (up to 48.5% cash refund), and one of the world’s premier trial networks, making it an ideal destination for biologics companies looking to invest in scaling-up and manufacturing products. Visit https://biocina.com.
About CentivaxCentivax is a universal vaccine platform technology company founded and led by experts in vaccinology, vaccine regulatory affairs, immunology, and computational bioengineering. The universal vaccine platform intellectual property has demonstrated unprecedented breadth of protection against influenza and coronaviruses. The platform delivers ultra-broad neutralizing titers, HAI titers and in-vivo protection in ferrets, pigs, rats, mice and human immune organoids. Development of the Centivax platform has been financially supported by the Global Health Investment Corporation (GHIC) BARDA venture arm, NFX, BLUE KNIGHT™ J&J/BARDA program, the Bill and Melinda Gates Foundation, the National Institute of Health (NIH), the Naval Medical Research Center, the Walter Reed Army Institute of Research, the Medical Technology Enterprise Consortium, the Department of Defense, and the National Institute for Innovation in Manufacturing Biopharmaceuticals. Centivax is on a mission to accelerate the world’s transition to a post-pathogen humanity.
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New Carbon Footprint Reporting Delivers Unmatched Insights, Optimizing Sustainability and Performance
VANCOUVER, British Columbia, Oct. 9, 2024 /PRNewswire/ — Hyperview, the leading cloud-based data center infrastructure management (DCIM) platform, today unveiled a suite of groundbreaking features set to transform data center management through detailed measurement and comprehensive sustainability tools.
At the heart of this is Hyperview’s new carbon footprint reporting system, providing granular insights that surpass traditional location-based methods. The initial offering provides location and rack-level carbon footprint reporting, with future releases set to include carbon footprint reporting down to the asset level. This phased approach enables a level of detailed analysis previously unseen in the industry, allowing for more informed, impactful operational decisions. By offering a holistic view of a data center’s environmental impact, from equipment performance to overall energy consumption, Hyperview is setting a new standard for sustainability management in the digital infrastructure sector.
“The timing of this release is crucial”, says President and CEO Jad Jebara. “As the data center industry faces mounting pressure to address its environmental impact. Data centers currently consume 1.5% of the global energy supply and emit 59 million metric tonnes of CO2 annually. Without significant intervention, experts project this consumption could skyrocket to 8% by 2030. Hyperview’s solutions enable targeted reduction strategies, addressing inefficiencies in IT equipment management and providing detailed emissions analysis.”
Key Highlights:
Phased Reporting Implementation: Initial offering includes location and rack-level carbon footprint reporting, with asset-level insights coming in future releases.Asset-Level Analysis: Enables impactful decision-making through detailed equipment, material, and power data.Predictive Capabilities: Offers current data and future predictions, surpassing competitors’ reliance on historical information.Cost-Effective Solution: Eliminates need for additional professional services through automated data collection and presentation.Regulatory Compliance: Assists in navigating evolving regulations (SB 253, CSRD, EED) while improving ESG performance.Comprehensive Sustainability Tools:Carbon footprint tracking and managementUnlocking stranded power and cooling capacityMonitoring energy usage efficiency and kilowatt hours at rack-levelSetting rack-level thresholds for power and temperatureMonitoring temperature, Delta-T, and humidity”Hyperview’s precision in digital infrastructure management is akin to diagnosing a specific medical condition rather than broadly identifying an illness,” continues Jebara “While competitors might broadly identify issues, Hyperview pinpoints specific causes, enabling our clients to make targeted improvements, significantly reducing their carbon footprint and operational costs.”
These features allow clients to gain a detailed understanding of their energy consumption and identify areas for improvement, contributing to significant carbon footprint reductions. The platform’s detailed data helps clients understand their current situation and make accurate future predictions.
With this advanced DCIM suite, Hyperview reaffirms its position as a leader in data center management solutions, offering unparalleled tools for sustainability, efficiency, and regulatory compliance. As the industry evolves, Hyperview remains at the forefront, driving innovation and enabling data centers to meet the challenges of tomorrow.
To experience Hyperview’s Carbon Footprint Reporting firsthand, schedule a demonstration at https://www.hyperviewhq.com/carbon-footprint/
About Hyperview
Hyperview is the leading cloud-based data center infrastructure management (DCIM) platform that empowers enterprises to optimize capacity, reduce power and energy consumption, lower costs, and avoid outages. The powerful and easy-to-use platform includes Asset Management, Energy Management, Power and Environmental Monitoring, Capacity Planning, and 3D Visualization. Learn more at www.hyperviewhq.com.
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