AI in Logistics and Supply Chain Market Size

The Global Artificial Intelligence (AI) in Logistics and Supply Chain Market Ecosystem was valued at USD 1.7 bn in 2018 and is expected to reach USD 12 Bn in 2027, growing at a CAGR of 24%.

The on-going evolution of technologies like artificial intelligence (AI) and machine learning (ML) brings in disruption and innovation in the Logistics and Supply Chain Market. The efficiency of a company in network planning and predictive demand are getting improved with AI capabilities. Companies are becoming more proactive with tools and technology that can help with accurate demand forecasting and capacity planning. With the help of AI technology, market expectations can be tapped, by which people working in this area can quickly move vehicles to the exact locations where demand is more. Thus, it helps in bringing down operational costs.

AI is Transforming global logistics and supply chain management. Various startups are investing in AI in logistics and supply chain management worldwide. Marble, a USA based company has done funding of $10Million to create a fleet of intelligent courier robots to reliably and securely transport the goods that people need and want. Evertracker, Germany based company has funding of $1.2Million for offers a platform technology that matches Internet of Things applications with Artificial Intelligence. It enables movable and inaccessible objects to communicate to revolutionize logistics and supply chains.

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Ecosystem Snapshot: Artificial Intelligence in Logistics and Supply Chain Market

The key and positive trends of the segment include:

• Predictive capabilities are helping demand forecasting.
• Genetic algorithms are improving delivery times and reducing costs.

The report incorporates the study of the AI in logistics and supply chain management that focuses on the Components, Offering, Application, Technology, Deployment and End -User operated in the business. In the logistics and supply chain industry, artificial intelligence is gaining rapid traction among industry stakeholders. Players operating in the industry are increasingly realizing the potential of AI to solve the complexities of running a global logistics network. Adoption of artificial intelligence in the supply chain is routing a new era or industrial transformation, allowing the companies to track their operations, enhance supply chain management productivity, augment business strategies, and engage with customers in the digital world. 

The COVID-19 pandemic has changed the business environment for numerous organizations around the globe and has highlighted the importance of being able to respond, adapt and set up crisis management methods to situations of uncertainty. As the severe restrictions and lockdowns created many urgent situations that required immediate attention in the early days of the pandemic, many companies have now begun to move to a "recovery mode" and have begun planning for a longer period. As businesses seek to strengthen operations and business strength, the importance of supply chain strength and risk management is more evident than ever.

Artificial Intelligence in Logistics and Supply Chain Market Report Scope:

A study is an effective tool for addressing Research insights relevant for business strategies like:

• New product launch
• New client acquisition
• New opportunity mapping (market level and geography level)
• Competitive benchmarking
• Cost optimization strategies
• Inorganic expansion plans

AI in Logistics and Supply Chain Market Segmentation

The Segment study of Component Types includes an analysis of

• Micro Processors
• Memory
• Storage
• FPGA
• GPU
• Camera
• Sensors
• Connectivity IC
• Others.

By Offering:

• Solution
• Services

By Application, the global AI in Logistics and Supply Chain market is segmented into:

• Fleet Management
• Supply Chain Planning
• Warehouse Management
• Virtual Assistant
• Risk Management
• Freight Brokerage

By Technology:

• Predictive Maintenance/Self Diagnostics
• Machine learning
• Deep learning
• NLP
• Computer Vision
• Predictive Analytics
• Others

By Deployment:

• Cloud
• On-Premises

By End User:

• Automotive
• Aerospace
• Manufacturing
• Retail
• Healthcare
• Others

Regional Overview of Global AI in Logistics and Supply Chain Market

Based on geography, the global artificial intelligence in supply chain market is categorized into five major geographies, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2020, North America commanded for the largest share of the global artificial intelligence in logistics and supply chain market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Artificial intelligence in supply chain and logistics is growing at a fast pace and so, by 2030, one-third of workers in the U.S. will need to switch occupations due to increased use of robotics. The large share of the North American region is attributed to the presence of developed economies focusing on enhancing the existing solutions in the supply chain space, and the existence of major players in this market along with a high willingness to adopt advanced technologies.

On the other hand, the Asia-Pacific region is projected to grow at the most rapid CAGR during the forecast period. The high growth rate is attributed to rapidly developing economies in the region; presence of young and tech-savvy population in this region; and growing production of internet of things (IoT); rising disposable income; increasing acceptance of modern technologies across several industries including automotive, manufacturing, and retail; and broadening implementation of computer vision technology in numerous applications. Furthermore, the growing adoption of AI-based solutions and services among supply chain operations, increasing digitalization in the region, and improving connectivity infrastructure are also playing a significant role in the growth of this market in the region.

The major players operating in the global AI in Logistics and Supply Chain Market Ecosystem are as follows:

Company	Ecosystem Positioning	Total Revenue	Industry	Region
UPS	Service Provider	$72 Billion	Logistics and Supply Chain	Global
FedEx	Service Provider	$65.45 Billion	Logistics and Supply Chain	Global
CSX	Service Provider	$11.4 Billion	Logistics and Supply Chain	Global
McLane Company	Service Provider	$50 Billion	Logistics and Supply Chain	Global
DHL	Service Provider	$67.76 Billion	Logistics and Supply Chain	Global

Very few markets have interconnectivity with other markets like AI. Our Interconnectivity module focuses on the key nodes of heterogeneous markets in detail. Data analytics, Cloud Logistics, Blockchain, Drones, Autonomous vehicles markets are some of our key researched markets.

Artificial Intelligence in Logistics and Supply Chain Market Major Interconnectivities Ecosystem

Glance on Global AI in Logistics and Supply Chain Market Trends:

• AI-enabled RPA in the transportation & logistics industry allows the vendors to reduce expensive manual functions through automatic acquisition, integration, and delivery of data across the supply chain. AI enabled RPA is also used to automate the scheduling process of shipments.
• Machine learning makes it possible to discover patterns in supply chain data by relying on algorithms that quickly pinpoint the most influential factors to a supply networks’ success, while constantly learning in the process.
• Companies are extending the life of key supply chain assets including machinery, engines, transportation, and warehouse equipment by finding new pattern in the usage of data collected via IoT sensors.

Companies profiled in this AI in Logistics and Supply Chain Market report include:

Supply Side: IBM Corporation, Microsoft Corporation, Google LLC, and Amazon.com, Inc. Intel Corporation, Nvidia Corporation, Oracle Corporation

Demand-side: FedEx Corporation, UPS, FedEx, CSX, McLane Company, DHL, Cisco Systems, Colgate-Palmolive, Johnson & Johnson, Schneider Electric

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