2023 marked a pivotal year for supply chain technology. The surging supply chain market, already valued at $23 billion, projects to grow to roughly $50 billion by 2030, exhibiting a CAGR of 11%. Technologies like AI, Edge Computing, and IoT took the main stage, promising revolutionized visibility, efficiency, and resiliency. Notably, the transition to the cloud and SaaS by supply chain companies has been and continues to be the primary growth driver for the expanding market. Emerging technologies are empowering companies to take better control of their supply chains by making them more efficient, resilient, and sustainable. While the potential for growth is clearly apparent, hurdles remain. Integrating complex AI systems, overcoming high initial investment costs, and mastering end-to-end supply chain visibility and integration pose as significant challenges. These challenges are amplified by the macro-market and infrastructure limitations.
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