New research from Logistics Trends & Insights and American Global Logistics (AGL) indicates that US companies will spend more than US$2.5 billion in disruptive logistics and supply chain technologies by 2022.
"Technologies like artificial intelligence, connected devices, sensors, cloud computing, cybersecurity and distributed systems are transforming the technology landscape," said AGL chairman and CEO Jon Slangerup, former CEO of the Port of Long Beach.
"The next wave of supply chain innovation will focus on weaving these technologies together to make global supply chains more efficient, more resilient, more transparent, and less costly," he said.
Overall supply chain and logistics technology spending will rise to $87.8 billion. The report, "Supply Chain Technology Investment Outlook" explores the rapid growth in supply chain IT investment and which technologies are likely to take the lead in the next five years.
As supply chain start-ups continue to develop innovative tools to serve customers, that innovation is fuelled by the venture capital that continues to pour into the sector. he said. Between 2012 and 2017, supply chain and logistics technology firms received more than $8.4 billion in investments and the average total venture capital investment was about $17 million.