Control Towers Market Size to Reach $26.3 Billion by 2030 | CAGR 18.7%
A control tower for supply chains is a central hub equipped with the necessary technology, organization, and procedures to collect and utilize transportation data to give improved visibility for short- and long-term decision-making in line with strategic goals. The control tower provides various benefit to the organization such as control towers offer complete supply chain visibility, adjust deliver collaborative supply chain and multi-tier process and maximize dynamic supply chain execution and predictive decision-making, which is a major factor estimated to propel the control towers market analysis demand in the upcoming years. The control towers help in collaboration business and industrial supply chain with centralized decision-making process.
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However, some of the disadvantages of control towers include data breach. Data and information are highly important in supply chain and it is produced at each part of supply chain procedure due to which its exposure can cause serious damage to the organization and its vendors by impacting the supply chain.
For control towers industry players, the retail industry is predicted to offer excellent growth potential. Traditional retailers are being forced to look for ways to provide customers with a consistent experience across all channels due to the increased customer preference for online sales. In addition to monitoring, visibility, and alerting, supply chain control towers can leverage Machine Learning (ML) and Artificial Intelligence (AI) to produce insights. Professionals spend less time searching through large amounts of matching data sets data, and doing analyses on control tower helps to reduce the time required for searching large amount of data. Professionals may interact with solutions using natural language thanks to AI-powered supply chain control towers. As a result, professionals are being assisted in producing insightful and helpful recommendations by the rising integration of artificial intelligence and machine learning with supply chain control towers. These factors are anticipated to boost the control towers market growth in the upcoming years.
The global control towers market share is segmented based on type, application, end-use, and region. By type, it is classified into operational and analytical. By application, it is classified into supply chain and transportation. By end-use, it is classified into aerospace & defense, healthcare, retail & consumer goods, automotive & manufacturing, information & technology, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the control towers market report include Blue Yonder Group, E2open, INFOR, KINAXIS, SAP SE, DiLX, o9 solutions, ORTEC, Viewlocity Technologies Pty Ltd, and One Network Enterprises.
The report offers a comprehensive analysis of the global control towers market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Control Towers Industry
COVID-19 impact on control towers market has a negative effect on businesses, hindering innovations and lowering profitability across a range of industries and sectors globally
Disruptions in the supply chain have an impact on demand and production plans, putting firms at financial risk. Lockdowns have hindered supply chains, which has hampered the implementation of more advanced systems such as control towers.
COVID-19 impacted almost all industries and many companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, shortage of labor due to the fear of contracting the novel coronavirus led to sluggish demand in the market
Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market
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Key Findings of the Study
Based on type, the operational sub-segment emerged as the global leader in 2021 and the analytical sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
Based on application, the supply chain sub-segment emerged as the global leader in 2021 and the transportation sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
Based on end-use, the automotive & manufacturing sub-segment emerged as the global leader in 2021
Based on region, the North America market registered the highest market share in 2021 and is projected to maintain the position during the forecast period
In-depth study of the control towers market forecast is also provided in the report
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