Artificial Intelligence in Supply Chain Market estimated to be worth 10,110.2 million USD by 2025

(IT-NEWSWIRE.COM, December 02, 2021 ) According to the new research report "Artificial Intelligence in Supply Chain Market by Offering, Technology, Application (Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Freight Brokerage), End-User Industry, and Geography - Global Forecast to 2025", The artificial intelligence in supply chain market is expected to grow from USD 730.6 million in 2018 to USD 10,110.2 million by 2025, at a CAGR of 45.55% between 2018 and 2025. Major drivers for the market are the growth of big data, demand for greater visibility and transparency into supply chain data and processes, and adoption of AI for improving consumer services and their satisfaction. The major restraint for the market is the limited number of the artificial intelligent technology experts.

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Software market for artificial intelligence in supply chain expected to grow at the highest CAGR during forecast period

The software market is expected to grow at the highest CAGR for artificial intelligence in supply chain by 2025. The adoption of AI-based software solutions is increasing as it has beginning to apply machine learning capabilities that can automatically detect errors and make course corrections while processing real-time data streams.

Retail end-user industry is expected to hold the largest market during the forecast period

Of all the end-use industries, the retail industry expected to hold the largest market share in the AI in supply chain, as retail enterprises are focusing on the Omni Channel retail operation to compete successfully in today’s retail environment driven by consumer behaviors such as search anywhere, shop anywhere, and deliver anywhere.

North America expected to hold the largest market share; APAC to witness the highest growth rate

North America is expected to hold the largest share and dominate the artificial intelligence in supply chain market between 2018 and 2025. North America, being technologically advanced, is a leader in the market. North America is the early adopter of the latest technology; moreover, awareness on the benefits of artificial intelligence is high in the region. In addition, the presence of prominent AI technology providers, such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), MetaMind (US), Tute Genomics (US), and Amazon (US), is complementing the growth of the market in this region.

The artificial intelligence in supply chain market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. The increasing adoption of deep learning and NLP technologies for various major applications is driving the market in APAC.

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Artificial Intelligence in Supply Chain Market estimated to be worth 10,110.2 million USD by 2025