Global Artificial Intelligence in Supply Chain Management Market was Valued at US$ 1549.5 Mn in 2019 Growing at a CAGR of 25.12% over the Forecast Period - says Absolute Markets Insights
PUNE, India, Dec. 16, 2020
PUNE, India, Dec. 16, 2020 /PRNewswire/ --
- The COVID-19 pandemic is expected to positively impact the artificial intelligence in supply chain management market. Industries are increasingly focusing on automating work processes related to supply chain, and the same has been accelerated due to the shortage in workforce as a result of lockdown measures put forward by government bodies across countries. Inventory management, route optimization, etc., can be efficiently performed through the combination of computer vision and machine learning algorithms.
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- The transportation and logistics industry accounted for a considerable share in the global artificial intelligence in supply chain management market in 2019. In logistics, for instance, studies show that more than 60% of the companies were expected to incorporate artificial intelligence and data analytics in their supply chain management processes in the next five years, especially for resource procurement management. IBM Corporation, for instance, helps in building smarter supply chain in logistics and gains real-time intelligence along with actionable models that help in the reduction of disruption mitigation time. Supplier collaboration solutions are also being provided by the companies.
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- Warehouse management using AI has gained traction in the recent years. Inefficiencies in warehouses can be studied with the help of data analytics models produced using AI. Furthermore, identification of objects can be performed easily with the help of computer vision-based image processing systems, and this helps in reducing errors while packaging, loading, picking, etc., thus driving market growth.
- China is expected to show the highest growth rate during the forecast years in the global artificial intelligence in supply chain management market.
- Some of the players operating in the artificial intelligence in supply chain management market are : o9 Solutions, Inc., Accenture, ADLINK Technology Inc., Aera Technology, Amazon Web Services, Inc., American Software, Inc. (Logility), Atos SE, C3.ai, Inc., Dematic, IBM Corporation, Infor, Infosys Limited, Microsoft, NVIDIA Corporation, Oracle, SAP SE, Wipro Limited, ZETES, amongst others.
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