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Cognitive Supply Chain Market Trends

Report ID: GMI7047
Published Date: Oct 2023
Report Format: PDF

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Cognitive Supply Chain Market Trends

The integration of AI and ML is an emerging trend in the cognitive supply chain industry. AI and ML technologies are revolutionizing supply chain operations by providing intelligent insights and automation capabilities. AI-driven predictive analytics and pattern recognition help in demand forecasting, inventory optimization, and dynamic route planning.

For instance, in September 2023, Alloy.ai incorporated AI features into its forecasting and supply chain platform, enhancing its capabilities for more accurate predictions and supply chain management. ML algorithms enhance real-time decision-making, improving the supply chain’s agility and responsiveness. This trend is driven by the need for data-driven, efficient, and adaptive supply chain processes, where AI and ML play a pivotal role in shaping the future of logistics and operations.

The adoption of cloud-based solutions is a rising trend in the cognitive supply chain market. Cloud technology offers scalable and flexible platforms for storing, analysing, and accessing vast amounts of supply chain data. This trend enables companies to harness cognitive computing and analytics tools that require substantial computing power and resources, all while enjoying the benefits of cost-effectiveness and accessibility. Cloud-based solutions facilitate real-time data sharing, collaboration, and visibility across the supply chain, making it easier for businesses to optimize their operations, enhance decision-making, and respond to market changes swiftly.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of cognitive supply chain reached USD 7.5 billion in 2022 and is set to register over 16% CAGR between 2023 and 2032, due to the booming e-commerce sector and its increasing supply chain demands worldwide.

The on-premises deployment model segment held 66% of the market share in 2022, driven by the higher need to ensure low-latency processing and better integration with existing technologies. ?

North America market size was valued at USD 3 billion in 2022, owing to the robust technological infrastructure and the growing emphasis on supply chain optimization.

Few of the leading cognitive supply chain market players are IBM Corporation, Oracle, Amazon.com, Accenture plc, Intel Corporation, NVIDIA Corporation, and Honeywell International Inc.