AI supply chain market to hit more than $10bn by 2025
The artificial intelligence in supply chain market is likely to grow at a CAGR of 45.55% between 2018 and 2025, to a value pf more than $10bn, according to a new report.
Research conducted by ReportLinker found that the artificial intelligence in supply chain market is expected to reach $10.1bn by 2025 from $730.6mn in 2018, at a CAGR of 45.55%.
Growth in this market can largely be attributed to factors such as growing big data, demand for greater visibility and transparency into supply chain data and processes, and adoption of AI for improving consumer services and their satisfaction.
On the other hand, the limited number of artificial intelligence technology experts is expected to restrict adoption, which in turn may limit market growth to a certain extent.
The market for software offerings is expected to hold a largest share during the forecast period.
The artificial intelligence in supply chain market for software offerings is expected to hold a larger share. The continuous developments have been witnessed in AI software and related software development kits.
Also, AI software is capable of behaving intelligently. Creating intelligent software involves simulating a number of capabilities, which include reasoning, learning, problem-solving, perception, and knowledge representation.
The market for computer vision technology is expected to register the highest growth during the forecast period.
The market for computer vision technology is expected to grow at the highest CAGR during the forecast period. The growing adoption of computer vision for autonomous or semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the AI market.
North America is expected to dominate the artificial intelligence in supply chain market during the forecast period. North America is notable for its high adoption of artificial intelligence. The increasing demand for intelligent virtual assistants acts as a driving force for the growth of the artificial intelligence in supply chain market in the region.
The market in North America is also characterised by high infrastructure costs and strict policies and regulatory frameworks.
Companies such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), and Amazon (US) are complementing the growth of the market in this region.
Grupo Espinosa: 70 years of constant evolution
Founded in 1952, Grupo Espinosa has been relentlessly supporting the publishing industry with producing more than 100 million copies every year – whether its books, magazines, catalogues or single-order custom prints. No project is big or small for Grupo Espinosa, as the facility can scale up on demand and their turnaround times are highly competitive. Grupo Espinosa works with on-demand digital press or offset press, in paperback with glued softcover binding, PUR softcover binding, stitched paperback binding, binder’s board, hardcover, saddle stitched, Spiral or Wire-O. Equipped with the experience needed for a product to leave the plant ready for distribution, Grupo Espinosa delivers anywhere inside or outside Mexico. Traditionally starting off as a black and white printing press, Grupo Espinosa has experienced transformation first hand – from colour to digital offset printing. Currently, Grupo Espinosa is also looking at making capital investments into audio books to match with the increasing demand.
So how did a seemingly local operation in Latin America become a world-renowned printing facility trusted by hundreds of clients? As Rogelio Tirado, CFO of Grupo Espinosa for the last six years says “It all comes down to our market experience and our dedication to quality”. With nearly 70 years behind them, and located in Mexico City, Grupo Espinosa has two major locations – one spanning 75,000 square metres and the other about 45,000 square metres. Both locations are controlled by a single ERP (Enterprise Resource Planning) system ensuring speed, consistency and quality of work. Tirado says this isn’t their only competitive advantage. He adds “Our competitive advantage is the relationship we have with customers and the trust they put in us with their intellectual property”. Speaking of trust, global publishing giant Macmillan Education exclusively partners with Grupo Espinosa for their Latin America operations, as part of Macmillan’s decentralized hub strategy. Having a facility that offered the full spectrum of service – from storing digital content to printing and distributing – was one of the major requirements for Macmillan, and Grupo Espinosa was recognized as the leading printing hub for providing this 360 infrastructure. Another factor that has led to success for Grupo Espinosa is the absolute focus on quality and time. The staff are committed to providing the best quality in the best possible time, without causing wastage of resources. Sustainability is a huge factor playing into Grupo Espinosa’s operations, and they’ve created a healthy environment with the sustainable use of paper and energy resources as well as keeping their employees – most of them associated with the organisation for over 10 years – happy. He adds, “In order to be truly successful, you need to be good to the environment, employees, suppliers, and your customers. But most importantly, you need to be sustainable, you need to have proper working conditions, pay proper salaries, proper prices for paper, source the paper from sustainable sources, pay your taxes, basically be a good global corporate citizen and that's probably one of the biggest achievements that we have.”