AI In Logistics And Supply Chain Management Global Market Report 2024 by The Business Research Company | Google LLC, Microsoft Corporation, Amazon Web Services Inc., General Electric Company, International Business Machines Corporation, Oracle Corporation

The AI in logistics and supply chain management market size has grown exponentially in recent years. It will grow from $2.84 billion in 2023 to $4.03 billion in 2024 at a compound annual growth rate (CAGR) of 42.1%. The growth in the historic period can be attributed to cost pressures and efficiency demands, talent shortages and skills gaps, the rise of just-in-time inventory management, regulatory changes, and trade agreements, and geopolitical instability.

The AI in logistics and supply chain management market size is expected to see exponential growth in the next few years. It will grow to $16.56 billion in 2028 at a compound annual growth rate (CAGR) of 42.3%. The growth in the forecast period can be attributed to augmented reality and virtual reality integration, blockchain for supply chain transparency, multi-modal transportation optimization, natural language processing for supply chain insights, and hybrid workforce collaboration. Major trends in the forecast period include integration of AI with IoT and big data, focus on predictive analytics and forecasting, demand for cloud-based AI solutions, focus on sustainability and green logistics, and investments in research and development.

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AI In Logistics And Supply Chain Management Market Major 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

Key Driver - Rising Data Demand Fuels Growth In The External Storage Market

The growing e-commerce industry is expected to propel the growth of the AI in logistics and supply chain management market going forward. The e-commerce industry encompasses the business sector that involves the buying and selling goods and services conducted primarily through electronic means, such as the Internet, mobile apps, or other digital platforms. The e-commerce industry is driven by convenience, expanding internet access, and shifting consumer preferences toward online shopping. AI enhances e-commerce logistics and supply chain management by forecasting demand, fine-tuning inventory management, optimizing delivery routes, reducing costs, and increasing customer satisfaction. For instance, according to the United States Census Bureau, a US-based government agency, e-commerce sales reached $1,118.7 billion in 2023, marking a 7.6% (±1.2%) increase from 2022. Further, e-commerce sales constituted 15.4% of total sales in 2023, compared to 14.7% in 2022. Therefore, the growing e-commerce industry is driving the growth of the AI in logistics and supply chain management market.

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Prominent Trend - Technological Innovations In Supply Chain Management Tools

Major companies operating in the AI in logistics and supply chain management markets are developing technologically advanced products, such as AI-based supply chain management tools, to enhance efficiency and sustainability in operations. AI-based supply chain management tools leverage artificial intelligence to optimize various aspects of the supply chain, from planning and forecasting to logistics and customer service. For instance, in December 2023, Blue Yonder Group Inc., a US-based supply chain management company, launched the Blue Yonder Orchestrator, a state-of-the-art tool that utilizes artificial intelligence to optimize decision-making processes and improve supply chain orchestration. The tool's standout feature is its ability to enable business users to instantly access recommendations, predictive insights, and intelligent decisions, ensuring the best possible outcomes for their supply chain. This innovative capability combines large language models (LLMs), cloud data, and rapid engineering to provide personalized recommendations for supply chain decisions.

AI In Logistics And Supply Chain Management Market Players
Major companies operating in the AI in logistics and supply chain management market are 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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Largest And Fastest Growing Region In The Market
North America was the largest region in the AI in logistics and supply chain management market in 2023. The regions covered in the AI in logistics and supply chain management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. AI In Logistics And Supply Chain Management Market Report Structure
3. AI In Logistics And Supply Chain Management Market Trends And Strategies
4. AI In Logistics And Supply Chain Management Market - Macro Economic Scenario
5. AI In Logistics And Supply Chain Management Market Size And Growth
…..
27. AI In Logistics And Supply Chain Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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