According to a new report, published by KBV research, The Global Cognitive Supply Chain Market size is expected to reach $20.7 billion by 2030, rising at a market growth of 14.8% CAGR during the forecast period.
The On-premise segment is generating the maximum revenue in the Global Cognitive Supply Chain Market, By Deployment Type in 2022; thereby, achieving a market value of $11.9 billion by 2030. The preference for on-premise deployment in the market can be attributed to several factors. One primary consideration is data security. Companies dealing with sensitive supply chain data, such as those in the healthcare or defense sectors, often have stringent data security and compliance requirements.
The Internet of Things (IoT) segment, would witness a CAGR of 14.2 % during the forecast period. The promise of substantial cost savings and operational effectiveness benefits is one of the primary motivators for the market's adoption of IoT automation. Businesses can streamline their operations and reduce unnecessary expenditures by automating diverse aspects of the supply chain, such as inventory management, asset monitoring, and order processing. Integrating IoT devices and cognitive technologies also improves supply chain visibility and transparency.
The Large Enterprises segment is leading the Global Cognitive Supply Chain Market, By Enterprise Size in 2022; thereby, achieving a market value of $13.6 billion by 2030. Large enterprises are utilizing cognitive technologies to improve their supply chain capabilities in several key areas, including forecasting demand, handling inventory, optimizing logistics, and supplier relationship management. By integrating AI and ML into their supply chain processes, these businesses gain deeper insights from massive quantities of data, recognize patterns, and make more accurate predictions.
The Manufacturing segment is poised to grow at CAGR of 14 % during the forecast period. Predictive maintenance is one of the primary development factors. Increasingly, manufacturers are integrating cognitive technologies into their predictive maintenance strategies. Analyzing real-time data from sensors and equipment makes it possible to predict potential failures and conduct preventative maintenance before breakdowns. This proactive approach decreases unexpected downtime and prolonged the useful life of vital equipment, thereby contributing to increased operational efficiency.
The North America region dominated the Global Cognitive Supply Chain Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.98 billion by 2030. The Asia Pacific region is anticipated to grow at a CAGR of 15.5% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 14.6% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/cognitive-supply-chain-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of SAP SE, Oracle Corporation, Accenture PLC, IBM Corporation, Intel Corporation, NVIDIA Corporation, Honeywell International, Inc., C.H. Robinson Worldwide, Inc., Amazon.com, Inc. and Panasonic Holdings Corporation
By Deployment Type
By Technology
By Enterprise Size
By Vertical
By Geography
Companies Profiled
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