The demand for artificial intelligence has grown significantly in the last few years due to the advantages it provides. Rising use of big data, growing demand for greater transparency and visibility into supply chain data and processes, and increasing adoption of AI for improving consumer services and satisfaction are some of the other factors driving the demand in this market. Moreover, growing applicability of AI in various industries has further augmented the demand in this market.
The global artificial intelligence in supply chain market could be classified on basis of technology, application, end-user industry, and offerings. The end-user industry category can further be segmented into manufacturing, aerospace, automotive, retail, consumer packaged goods, healthcare, food and beverages, and others.
In terms of offerings, the market is likely to be divided into software, hardware, and services. Of these, the software segment is expected to lead the market on accounts of the rising adoption of AI and related software development kits.
Introduction of artificial intelligence is a technological innovation of recent times, despite that fact; AI is massively used in various industries. Increasing use of technologies such as natural language processing (NLP), machine learning (ML), and context-aware computing and computer vision has grown the demand for AI in supply chain across the globe.
Moreover, rising adoption of computer vision for semiautonomous or autonomous applications in multiple industries including automotive and manufacturing is further expected to drive the market’s growth.
On the basis of geography, the global artificial intelligence in supply chain market covers Europe, the Middle East and Africa, North America, Latin America, and Asia Pacific. Out of these regions, Asia Pacific is projected to rise at the highest growth rate throughout the forecast period.
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Presence of key players in the region is the key factors for the dominance of Asia Pacific. Growing adoption of NLP technologies and deep learning in various industries such as manufacturing, retail, and automotive has boosted the demand for artificial intelligence in supply chain in Asia Pacific. Developed regions such as Europe and North America are also expected to drive the demand for this market in the coming years.