The market for artificial intelligence in supply chains is growing as more companies use AI for automation, logistics, and demand forecasting.

According to an SNS Insider analysis, the artificial intelligence in supply chain market was estimated to be worth USD 48.22 billion in 2023 and is expected to grow at a CAGR of 8.36% to reach USD 91.65 billion by 2031. Artificial Intelligence (AI) in the supply chain helps to improve overall performance by using cognitive predictions on optimal actions. Applications in the supply chain that use AI to automate resource allocation, work assignment, etc.

Growing economic digitalization is one of the main factors propelling market expansion, particularly in developing nations. The market is growing more quickly as a result of rising lumpsum data and information generation, increased use by SMEs, expanding IT industries in emerging economies like China and India, and growing need for more visibility and transparency in supply chain and logistics data.

Artificial intelligence finds use in all aspects of the supply chain, encompassing data extraction, analysis, and autonomous vehicle management, as well as supply and demand planning. Having access to warehouse processes improves receiving, storage, shipping, product selecting, and management. AI-powered technologies help companies perform better in supply chain management. As an illustration, consider dimensions flow automation, demand forecasting techniques, end-to-end visibility, dynamic planning optimization, and integrated business planning.