Generative Artificial Intelligence In Supply Chain Market Projected to Grow At A CAGR of 43.7%, Reaching $1.73 Billion

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The generative artificial intelligence in supply chain market size has experienced exponential growth recently. The market is expected to grow from $0.28 billion in 2023 to $0.41 billion in 2024, reflecting a compound annual growth rate CAGR of 43.4%. This significant growth can be attributed to the increase in computational power, a surge in e-commerce, the availability of big data, a focus on automation, and increased investment in AI research and development.

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Simply put, what is the projected growth rate and market size for generative AI in supply chain?

The generative artificial intelligence in supply chain market size is expected to see another surge in growth over the next few years. The market will grow to $1.73 billion by 2028 at a compound annual growth rate CAGR of 43.7%. The growth of this market can be attributed to greater demand for real-time supply chain visibility, the need for AI-powered supply chain planning tools, increased investment in AI for supply chain innovation labs, a growing demand for AI in predictive logistics, and the demand for advanced forecasting techniques.

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What's propelling the growth of the generative AI in supply chain market?

The exponential rise of e-commerce is a key driver. E-commerce refers to the buying and selling goods and services over the Internet, involving transactions and business activities conducted through online platforms and mobile applications. The increase in e-commerce has led to the widely adopted use of online shopping, advancements in digital payment technologies, and broadened internet access. Generative AI in the e-commerce supply chain has improved inventory management, demand forecasting, streamlined logistics, automated order processing, and personalized customer experiences by analyzing large volumes of data, leading to efficient supply chain strategies.

Who are the key players in this expanding market?

Notable companies operating in the generative artificial intelligence in supply chain market include Amazon.com Inc., Microsoft Corporation, Deutsche Post AG, Intel Corporation, Accenture plc, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, NVIDIA Corporation, Infosys Limited, Dematic Inc., Zebra Technologies Corporation, PTC Inc., Teradata Corporation, Blue Yonder Inc., L&T Technology Services Limited, Manhattan Associates Inc., Nitor Infotech Private Limited, Logility Inc., LLamasoft Inc., Covariant Inc., FourKites Inc., Kanerika Inc., ClearMetal Inc.

What are the leading trends in this market?

Leading company Blue Yonder, for instance, launched Blue Yonder Orchestrator in December 2023. This generative AI tool focuses on enhancing predictive analytics and optimizing supply chain operations. It enables businesses to make intelligent decisions and speed up supply chain orchestration using its advanced AI algorithms. The key features include real-time data analysis, which allows for dynamic inventory and logistics adjustments based on current conditions and forecasts.

How is the market segmented?

The generative AI in supply chain market is divided as follows:

1 By Component: Solutions, Software
2 By Deployment Mode: Cloud-Based, On-Premise
3 By End-User: Retail, Manufacturing, Healthcare, Other End-Users

What is the regional picture?

North America was the largest region in the generative artificial intelligence in supply chain in 2023. Asia-Pacific, however, is expected to be the fastest-growing region in the forecasted period. The regions covered in the generative artificial intelligence in supply chain report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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