Fort Collins, Colorado, Sept. 14, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Generative AI in Logistics Market Size, Growth, Share, Statistics Report, By Component (Software, And Solution), By Deployment (Cloud Based, And On-premise), By Industry (Pharmaceutical, Aerospace, Retail, Food & Beverages And Others), By Region And Segment Forecasts, 2023-2032."
According to DataHorizzon Research, The generative AI in logistics market size was valued at USD 372.4 Million in 2022 and is expected to have USD 8,070.0 Million by 2032 with a CAGR of 36.1%. Generative AI offers many opportunities to the logistics industry, such as demand for efficiency and cost-effectiveness, data availability and connectivity, route optimization, demand forecasting, deploying collaborative robots (cobots), cross-border e-commerce, and many others. As resilience is a major issue, these opportunities can potentially transform the logistics industry in the forthcoming years.
The global generative AI in logistics market is significantly driven by the optimal use of artificial intelligence for the supply chain. Manufacturing units have adopted AI tools and solutions to boost their overall efficiency. Moreover, autonomous vehicles and drones are crucial in the logistics industry. Generative AI can optimize these resources to deploy full automation to the warehouse. With enhancements to the supply chain, a manufacturing unit gains huge competitive leverage to move things faster and more efficiently with a cost-effective approach.
Generative AI in Logistics Market Report Highlights:
- The global generative AI in logistics market CAGR is projected at 36.1% by 2032.
- The global generative AI in logistics market drivers comprises a high adoption rate, real-time tracking, and effective warehouse management.
- On-premise accounted for a significant market share for the deployment segment owing to the increase in investments from major players.
- Retail is leading in the industry segment and is anticipated to maintain a dominant position throughout the forecast period.
- North America is anticipated to dominate the global market and is projected to register a huge growth rate owing to adopting a high-end generative AI approach in the transportation and logistics industry.
- Some of the prominent players in the generative AI in logistics market research report include Deutsche Post AG, UPS (United Parcel Services), Schneider Electric, C.H. Robinson, XPO Logistics, FedEx Corp, and A.P. and Moller-Maersk AS.
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Report Snapshot:
| Report Title | Generative AI in Logistics Market |
| Market Size in 2022 | USD 372.4 Million |
| Market Size by 2032 | USD 8,070.0 Million |
| CAGR from 2023 to 2032 | 36.1% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations and Forecasts, Competitor Analysis, Trends, and Growth Factors |
| By Component | Software and Solution |
| By Deployment | Cloud-Based, and On-premise |
| By Industry | Pharmaceutical, Aerospace, Retail, Food & Beverages and Others |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia and South Africa |
| Major Market Players | Deutsche Post AG, UPS (United Parcel Services), Schneider Electric, C.H. Robinson, XPO Logistics, FedEx Corp, A.P. Moller - Maersk AS, Microsoft, Amazon, Deloitte Touche Tohmatsu Ltd. and OpenAI, L.P. |
Segmentation Overview
The global generative AI in logistics market has been segmented as component, deployment, industry, and region. By component, the solution is the fast-growing segment attributed to the growing popularity of AI solutions & tools. By deployment, on-premise accounted for a significant market share attributed to its benefits to the organization. For instance, on-premise AI deployment for logistics enables customization options. Retail led the industry segment in the following years, attributed to optimization features.
North America is projected to remain dominant in the forthcoming years owing to the presence of a robust supply chain. Besides, generative AI approach addresses logistical issues and saves on resources overspending. Asia Pacific is a fast-growing market in terms of technological adoption, high spending on AI tools, and the emergence of startups that offer logistical solutions in the transportation industry.
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Key Developments and Trends in the Industry:
- Autonomous vehicles and drones have paved the way in the automotive and transportation industry and continue to influence logistics industry. With AI-driven autonomous vehicles around, the logistics industry will likely witness effective navigation and reduce transportation costs.
- Generative AI can personalize customer experiences by analyzing consumer behavior in the consumer market. With this approach, marketing campaigns can be tailored to user preference. Therefore, logistics can enhance customer relationships with a more personalized method.
- In 2023, Amazon recently announced the launch of a generative AI assistant for small businesses in collaboration with Indian Railways and Postal services to boost delivery services.
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Generative AI in Logistics Market Report Segmentation:
Generative AI in Logistics Market, By Component (2023-2032)
- Software
- Solution
Generative AI in Logistics Market, By Deployment (2023-2032)
- Cloud-based
- On-premises
Generative AI in Logistics Market, By Industry (2023-2032)
- Pharmaceutical
- Aerospace
- Retail
- Food & Beverages
- Others
Generative AI in Logistics Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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