A recent report published by Infinium Global Research on AI in logistics market provides in-depth analysis of segments and sub-segments in the global as well as regional AI in logistics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional AI in logistics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global AI in logistics market. According to the report, the global AI in logistics market is projected to grow at a CAGR of 24% over the forecast period of 2021-2027.

Market insight

With the development in technologies, the logistic industry has gone through several transformations over the past few years. The advancements in the technologies such as automation, robotics, and connected devices have changed the way the logistics sector operates. AI is one of the prominent technologies which is being deployed across machinery and management systems. By using AI in the industry, logistics activities become more efficient and streamlined. Logistics providers use AI to automate their business functions and offer a better experience to their clients. Moreover, features offered by AI such as speech recognition, machine learning, planning, and problem-solving capabilities help logistic companies to reduce errors, and improve operational efficiencies. The market players in the AI in the logistics market are offering innovative solutions to the customers, enabling logistics companies to make accurate predictions and improve their performance.

The outbreak of the Covid-19 pandemic had a serious impact on the logistics industry across the world. Several industries were compelled to reduce or stop their production activities during the pandemic owing to the government restrictions, and concerns over contracting the infection. The lower production and high losses incurred by the end-users resulted in dropped demand for AI in logistics. Moreover, the market was affected by the travel bans, ban on freight movement, closure of boundaries during the pandemic. However, the eCommerce industry registered higher growth during this crisis, driving the demand for logistics. The logistics companies adopted different modern technologies such as AI, and IoT to cope up with the demand from the eCommerce industry. This, in turn, propelled the growth of AI in logistics during the pandemic. Furthermore, as the pandemic crisis came under control, the logistics industry was restored to its pre-pandemic condition. Several logistics companies started to invest in modern technologies such as AI to prepare for any future crisis, and improve their productivity and sales. This is expected to boost the market growth over the forecast period.

The growing digitalization in the logistics industry is driving the growth of AI in logistics. The digitalization of logistics leads to the generation of a large amount of digital data. With the help of AI, logistics providers can use the data to improve their operations. Moreover, AI in logistics allows predictive analysis, error reduction, scalability, and speed. These advantages of AI in logistics are further augmenting the market growth. Furthermore, growth in the global manufacturing industry is driving the demand for AI in logistics. The adoption of AI in logistics results in the improvement in the overall productivity in the manufacturing sector. However, the high cost of installment and maintenance limits the adoption of AI in logistics restraining the growth of the market. Developments in advanced technologies such as 5G and IoT are expected to offer growth opportunities to the players in the connected logistics market.

North America accounted for the largest share in the AI in the logistics market, in terms of region. The dominance of the US in the field of AI is majorly attributed to the growth of AI in the logistics market in North America. High investment in AI by the government and private firms is supporting the market growth in North America. Moreover, Asia-Pacific is expected to grow at the fastest rate in the global AI in the logistics market. Asia-Pacific region is the largest manufacturer of consumer products in the world. Countries such as Thailand, South Korea, Taiwan, China, and others have a large number of manufacturing facilities. Thus, the demand for logistics is high in this region, as the manufacturing sector is a major end-user of logistics. The logistics suppliers use AI to match the growing demand from the manufacturing sector, in turn, augmenting the growth of AI in logistics in the Asia Pacific.

Segment Covered

The report on global AI in logistics market covers segments such as offering, technology, application, and end user. On the basis of offering, the sub-markets include software and services. On the basis of technology, the sub-markets include machine learning, natural language processing (NLP), computer vision, and others. On the basis of application, the sub-markets include asset tracking and management, logistics and supply chain management, fleet management, warehouse management, and others. On the basis of end user, the sub-markets include automotive, retail, healthcare, manufacturing, chemical, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as IBM Corporation, intel Corporation, Amazon.com, inc., Alphabet inc., Microsoft Corporation, Oracle Corporation, NVIDIA Corporation, Transportation Applied intelligence, LLC, Yojee Pte Ltd., Pluto7, and Other Companies.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. in addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of AI in logistics market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.