Cognitive Supply Chain Market Recent Trends, In-depth Analysis, Size And Forecast 2024-2033

The cognitive supply chain market size has grown rapidly in recent years. It will grow from $7.42 billion in 2023 to $8.64 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to rise of just-in-time (JIT) and lean manufacturing philosophy, expansion of global trade, demand for faster delivery times, evolution of electronic commerce, increasing complexity of supply chains.

The cognitive supply chain market size is expected to see rapid growth in the next few years. It will grow to $14.91 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to rapid growth of e-commerce, sustainability initiatives, supply chain resilience, integration of edge computing and analytics, advances in information technology. Major trends in the forecast period include rapid integration of ai-driven technologies, advanced analytics and machine learning growth, enhanced human-AI collaboration, blockchain for supply chain security, and edge computing for real-time decision-making.

Market Overview -
A cognitive supply chain refers to a supply chain that incorporates cognitive technologies, such as artificial intelligence (AI), machine learning (ML), and advanced analytics, to enhance and optimize its various processes. It involves the use of intelligent systems to make supply chain operations smarter, more efficient, and more responsive by automating jobs, anticipating outcomes, and delivering real-time information.

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E-commerce Growth Fuels Expansion Of The Cognitive Supply Chain Market
The growing e-commerce industry is expected to propel the growth of the cognitive supply chain market moving forward. E-commerce involves the exchange of goods and services conducted electronically, primarily over the Internet or through digital platforms. The e-commerce sector is experiencing rapid growth due to the proliferation of smartphones, increased internet penetration, and increasing demand for seamless payment and delivery options. The cognitive supply chain enhances efficiency and decision-making in the e-commerce industry by leveraging advanced technologies such as artificial intelligence (AI) and machine learning for intelligent data analysis and optimization. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, e-commerce sales for the fourth quarter of 2023 were $285.2 billion, which is a 0.8% increase from the third quarter of 2023. The estimated e-commerce sales for the fourth quarter of 2023 have increased by 7.5% (±1.2%) from the fourth quarter of 2022. Additionally, E-commerce sales accounted for 15.6% of the total sales in the fourth quarter of 2023. Therefore, the growing e-commerce industry is driving the growth of the cognitive supply chain market.

Competitive Landscape -
Major companies operating in the cognitive supply chain market are Amazon.com Inc., Microsoft Corporation, Siemens AG, Intel Corporation, Accentur*e plc, International Business Machines Corporation, Oracle Corporation, Honeywell International Inc., SAP SE, NVIDIA Corporation, C.H. Robinson Worldwide Inc., SAS Institute Inc., Panasonic Corporation, Coupa Software Inc., JDA Software Group Inc., WiseTech Global Limited, E2open LLC, Kinaxis Inc., Relex Solutions Ltd., Logility Inc., FourKites Inc., Savi Technology Inc., TransVoyant LLC, Terra Technology LLC, ClearMetal Inc., Llamasoft Inc.

Advancements In Cognitive Supply Chain Management With The Emergence Of AI Tools
Major companies operating in the cognitive supply chain market are increasing their focus on developing advanced solutions, such as AI (artificial intelligence) supply chain management tools, to gain a competitive edge in the market. An AI-based supply chain management tool is a software solution leveraging artificial intelligence (AI) technologies to optimize and streamline various aspects of the supply chain. For instance, in December 2023, Blue Yonder, a US-based supply chain management company, launched Blue Yonder Orchestrator, a new AI supply chain management tool as part of its Luminate Cognitive Platform. The tool combines large language models, cloud data, and prompt engineering to provide supply chain recommendations. Blue Yonder Orchestrator enables companies to derive value from their data, allowing business users to access recommendations, predictive insights, and intelligent decisions quickly to ensure the best outcomes for their supply chain.

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Key Segments -
The cognitive supply chain market covered in this report is segmented -
1) By Offering: Solutions, Forecasting, Analytics, Inventory Management, Risk Management, Other Offerings
2) By Deployment: Cloud, On-Premise
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End Use: Healthcare, Food And Beverages, Transportation And Logistics, Retail And E-commerce, Other End-uses

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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