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AI in Logistics Market Growth Outlook, Key Trends, Market Share Analysis, Competitive Insights, and Demand Forecast to 2033
AI In Logistics Market
As per the report, the ai in logistics market size has grown exponentially in recent years. It will grow from $12.21 billion in 2023 to $18.01 billion in 2024 at a compound annual growth rate (CAGR) of 47.5%. The ai in logistics market size is expected to see exponential growth in the next few years. It will grow to $83.26 billion in 2028 at a compound annual growth rate (CAGR) of 46.6%.
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The Rapid Growth Of AI In Logistics Fueled By E-Commerce Expansion
The rising growth of the e-commerce sector is expected to propel the growth of the AI in logistics market going forward. E-commerce refers to the buying and selling of goods or services over the internet and the transfer of data and funds to complete the transactions. The adoption of AI in logistics helps e-commerce businesses streamline their operations and improve efficiency, leading to benefits such as route optimization, supply chain optimization, and personalized shopping recommendations. For instance, in September 2022, according to the International Trade Administration, a US-based department of commerce, consumer e-commerce now made up 30% of the UK's overall retail sector (up from 20% in 2020), with an annual e-commerce revenue of more than $120 billion. Further, in 2021, 82% of people in the UK will have made at least one online purchase. Therefore, the rising growth of the e-commerce sector is driving the growth of the AI in logistics market.
Increasing Focus On Launching AI-Driven Orchestrator To Revolutionize Supply Chain Management
Major companies operating in the AI in logistics market are focusing on introducing technologically advanced solutions, such as AI-powered supply chain management and orchestration solutions, to increase their profitability in the market. AI-powered supply chain management and orchestration solutions leverage artificial intelligence to streamline and optimize various aspects of the supply chain. For instance, in December 2023, Blue Yonder, an India-based digital supply chain management solutions company, launched Blue Yonder Orchestrator, a new generative AI tool that simplifies supply chain management and orchestration. This new feature combines large language models (LLMs), cloud data, and prompt engineering to recommend supply chain decisions. This AI-powered solution gives business users instant access to advice, forecasts, and intelligent decisions, so they can make the best choices possible and have a positive impact on their supply chain. With so many professionals finding it difficult to retain institutional knowledge in today's supply chain environment, Blue Yonder Orchestrator can be a useful supply chain assistant that helps businesses enhance intuition by leveraging the value of data to make decisions more quickly and effectively.
The ai in logistics market covered in this report is segmented -
1) By Offering: Software, Services
2) By Technology: Machine Learning, Natural Language Processing, Context Awareness Computing, Computer Vision
3) By Application: Self-driving Vehicles And Forklifts, Planning And Forecasting, Machine And Human Collaboration, Automation Of Ordering And Processing
4) By Industry Vertical: Automotive, Food And Beverages, Manufacturing , Healthcare, Retail
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Major companies operating in the ai in logistics market report are Amazon.com Inc, Alphabet Inc., Microsoft Corporation, DHL International GmbH, United Parcel Service, Inc., FedEx Corporation, CEVA Logistics AG, Intel Corporation, IBM Corporation, Oracle Corporation, Kuehne + Nagel International AG, NVIDIA Corporation, XPO Logistics, Inc., Zebra Technologies, HAVI , Infor, Echo Global Logistics, Symbotic , C3 AI, Turvo Inc., project44 Inc., Wise Systems, Inc., Covariant , Cognitivescale Inc., Slync.io Inc., Transportation Applied Intelligence LLC
Contents of the report:
1. Executive Summary
2. AI In Logistics Market Report Structure
3. AI In Logistics Market Trends And Strategies
4. AI In Logistics Market - Macro Economic Scenario
5. AI In Logistics Market Size And Growth
…..
27. AI In Logistics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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