The Asia Pacific Cognitive Supply Chain Market would witness market growth of 15.5% CAGR during the forecast period (2023-2030).
Robotic process automation refers to using software robots to perform rule-based duties previously performed manually by human employees. RPA performs data entry, invoice processing, and order monitoring quickly and accurately. This automation allows employees to concentrate on more valuable and strategic tasks, enhancing productivity and efficiency. One of the advantages of automating the supply chain is its ability to reduce operational expenses. By automating previously labor-intensive duties, businesses can streamline their operations, eliminate the need for manual labor, and maximize resource utilization. Consequently, this cost reduction can significantly influence the company's financial performance, freeing up funds that can be transferred to other essential business areas.
Increasing emphasis on sustainability and environmental issues has become a key driver for businesses to adopt eco-friendly supply chain practices. Cognitive solutions, which leverage cutting-edge technologies such as artificial intelligence (AI) and machine learning (ML), play a crucial role in assisting businesses to achieve their sustainability objectives and meet the preferences of environmentally conscious customers. Transport route optimization is one-way cognitive solutions contribute to eco-friendly supply chains. Transportation significantly contributes to greenhouse gas emissions, and inefficient routes can increase petroleum consumption and carbon footprint. Transportation data, including traffic conditions and other relevant factors, can be analysed by cognitive technologies to determine the most efficient delivery routes. By reducing travel distances and optimizing delivery schedules, businesses can reduce petroleum consumption and emissions, fostering a more environmentally friendly supply chain.
According to Invest India, the Indian e-commerce sector was worth over $55 billion in gross merchandise value by 2021. By 2030, its annual gross merchandise value will reach $350 billion. By 2023, the nation will have approximately over 907 million internet users. This growth will fuel the expansion of e-commerce. The increasing e-commerce sector in India has indeed played a vital role in fueling the expansion of the cognitive supply chain market in the country. India's e-commerce industry has witnessed tremendous growth in recent years, driven by rising internet penetration, smartphone adoption, urbanization, and changing consumer preferences. Cognitive supply chain solutions have become essential for optimizing e-commerce logistics, enhancing customer experiences, and meeting the demands of a fast-growing online retail industry. The abovementioned aspects led the market to boost in this region.
The China market dominated the Asia Pacific Cognitive Supply Chain Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,660.4 million by 2030. The Japan market is registering a CAGR of 14.8% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 16.2% during (2023 - 2030).
Based on Deployment Type, the market is segmented into On-premise, and Cloud. Based on Technology, the market is segmented into Internet of Things (IoT), Machine Learning, and Others. Based on Enterprise Size, the market is segmented into Large Enterprises, Small & Medium-sized Enterprises. Based on Vertical, the market is segmented into Manufacturing, Food & Beverage, Logistics & Transportation, Retail & E-commerce, Healthcare, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Cognitive Supply Chain Market is Predict to reach $20.7 Billion by 2030, at a CAGR of 14.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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
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