Global AI In Logistics And Supply Chain Management Market Major Players 2024, Forecast To 2033
1 Jul, 2024
The AI in logistics and supply chain management market has experienced exponential growth, rising from $2.84 billion in 2023 to $4.03 billion in 2024, with a remarkable CAGR of 42.1%. Historical growth is attributed to cost pressures, efficiency demands, talent shortages, adoption of just-in-time inventory management, regulatory changes, and geopolitical dynamics. Looking forward, the market is poised for exponential growth, projected to reach $16.56 billion by 2028, growing at a CAGR of 42.3%. Anticipated growth drivers include integration of augmented reality (AR) and virtual reality (VR), blockchain for supply chain transparency, optimization of multimodal transportation, natural language processing for supply chain insights, and collaboration within hybrid workforces. Key trends in the forecast period encompass AI integration with IoT and big data analytics, focus on predictive analytics and forecasting, demand for cloud-based AI solutions, emphasis on sustainability and green logistics practices, and investments in research and development initiatives.
Global AI In Logistics And Supply Chain Management Market Key Driver
The growing e-commerce industry is expected to propel the AI in logistics and supply chain management market in the coming years. E-commerce, driven by convenience and expanding digital platforms, fuels demand for efficient logistics and supply chain solutions. AI enhances these processes by forecasting demand, optimizing inventory, and refining delivery routes, bolstering cost efficiency and customer satisfaction. In 2023, U.S. e-commerce sales reached $1,118.7 billion, marking a 7.6% increase from 2022 and constituting 15.4% of total sales. This growth trajectory supports forecasts for AI adoption in logistics and supply chain management, aligning with market projections for 2023, 2024, and 2028.
Get A Free Sample Of The AI In Logistics And Supply Chain Management Market ReportGlobal AI In Logistics And Supply Chain Management Market Segments
The AI in logistics and supply chain management market covered in this report is segmented –
1) By Offering: Solution, Services
2) By Type: Artificial Intelligence (AI), Machine Learning, Robotics Process Automation (RPA), Natural Language Processing (NLP)
3) By Deployment: Cloud-Based, On-Premise
4) By Application: Warehouse Management, Transportation Management, Order Fulfillment, Demand Forecasting, Inventory Optimization, Supply Chain Planning, Other Applications
5) By End User: Automotive, Aerospace, Manufacturing, Retail, Healthcare, Other End Users
By Geography:The regions covered in the AI in logistics and supply chain management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the AI in logistics and supply chain management market in 2023.
Major AI In Logistics And Supply Chain Management Industry Players
Google LLC, Microsoft Corporation, Amazon Web Services Inc., General Electric Company, International Business Machines Corporation, Oracle Corporation, SAP SE, Zebra Technologies Corp., Databricks Inc., Manhattan Associates Inc., o9 Solutions Inc., Locus, Trax Technologies Ltd., SenseTime, Project44, FourKites Inc., Turvo Inc., Everstream Analytics, GreyOrange Pte. Ltd., Elementum Ltd., Ambi Robotics, ClearMetal Inc., Aurrigo International Plc, Nexocode
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AI in logistics and supply chain management involves using artificial intelligence technologies to optimize and automate various processes within the supply chain. From raw material sourcing to final delivery, AI improves operational efficiency, enhances customer satisfaction, reduces costs, and mitigates risks.
AI In Logistics And Supply Chain Management Global Market Report 2023 provides data on the global ai in logistics and supply chain management market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The ai in logistics and supply chain management market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.