Artificial Intelligence in Supply Chain Market Size, Share & Trends Analysis Report By Offering (Hardware, Software, Services), By Technology, By Application, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Artificial Intelligence in Supply Chain Market Size, Share & Trends Analysis Report By Offering (Hardware, Software, Services), By Technology, By Application, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Artificial Intelligence In Supply Chain Market Growth & Trends

The global artificial intelligence in supply chain market size is anticipated to reach USD 51.12 billion by 2030 and is projected to grow at a CAGR of 38.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Intelligent automation, smarter workflows, provides actionable insights to accelerate time-to-value, increased agility, and improved supply chain resiliency are some of the factors contributing to the market growth. The supply chain industry has witnessed an increasing trend in the use of automation technologies such as business process management (BPM) and AI to scale and streamline decision-making across organizations. By automating lower-level tasks throughout supply chain operations, AI helps improve operational efficiencies, free up resources, and simplify processes, which is expected to significantly fuel the market growth.

Next-generation supply chain control tower technologies assist organizations in recognizing and resolving critical supply chain issues more quickly with actionable workflows, advanced analytics, and end-to-end visibility. By leveraging the power of customized workflows, automation, AI, and open platforms, organizations can better predict, plan for, and respond to complex supply chain operational challenges. These characteristics and benefits of artificial intelligence technologies are expected to increase its demand in the supply chain industry.

Initiatives by public and private organizations associated with artificial intelligence in the supply chain industry are also anticipated to accelerate market expansion. For instance, in November 2022, Microsoft, a technology company specializing in software solutions, announced the launch of its Microsoft Supply Chain Platform, a customizable platform that aims to help organizations optimize their supply chain database investment through an open approach by combining the best of SaaS applications, security, low-code, collaboration, and Microsoft AI in a scalable platform.

Organizations are constantly undertaking initiatives such as partnerships, acquisitions, and mergers to gain an advantage in the highly competitive market. For instance, in December 2022, Accenture, a provider of consulting and information technology services, announced partnership with Planet Labs PBC, an earth imaging company based in the U.S., with the aim to assist organizations across the government & forestry, energy, consumer packaged goods, and agriculture industries with valuable insights for decision-making. The two companies will collaborate on a variety of impact and sustainability initiatives, including data-based climate risk assessments, traceable supply chain strategy, and measurement by combining Accenture's deep industry and technology expertise and broad range of sustainability services with Planet Labs PBC’s high frequency satellite imagery data.

Artificial Intelligence In Supply Chain Market Report Highlights

• Based on offering, the software segment led the market with the largest revenue share of 41.8% in 2023. The growth of e-commerce and omnichannel retail demands flexible and efficient supply chains, which AI-powered software facilitates
• Based on technology, the machine learning segment led the market with the largest revenue share of 36.3% in 2023. Machine learning algorithms can handle complex tasks within the supply chain, automating processes and making data-driven decisions faster and more accurately than traditional methods
• Based on application, the supply chain planning segment led the market with the largest revenue share of 32.5% in 2023. Modern supply chains are intricate and often spread across the globe. AI-powered planning tools help businesses navigate complexity by optimizing inventory levels, production schedules, and transportation routes, leading to cost savings and improved efficiency
• Based on end use, the automotive segment led the market with the largest revenue share of 17.7% in 2023. Automakers rely heavily on JIT manufacturing, where parts arrive exactly when needed on the assembly line. AI in the supply chain optimizes delivery schedules and inventory management, ensuring a smooth production flow and reducing costs associated with holding excess parts
• North America dominated the market with the revenue share of 38.4% in 2023, accounting for the largest share of global revenue. Supply chain companies in the region are increasingly looking for ways to gain greater visibility and transparency into their supply chain data and processes. AI can help to achieve this by providing real-time insights into inventory levels, transportation schedules, and other critical factors

Please note The report will be delivered in 4-8 business days upon order notification.