The global control towers market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasingly becoming predominant in the supply chain and transportation ecosystem.
For businesses, last-mile delivery is a problem owing to issues linked with lack of allocation, visibility, speed of drivers and inefficiency. By forming an ecosystem that concentrates on translucency, towers such as if any issues arise, they use of technology interventions for instance delivery management software to get current information about the order without depending on third-party. Enhanced visibility confirms that the organization has the essential information to know accurately what actions to take in every step of the process. With a control tower, the staff performs analysis to correct decisions, identify a process break-up, and control orders better on cycle times. Teams that maintain control towers are capable to make better decisions depending on feedback obtained from this system. By collecting data from daily delivery procedures, they also support to deliver unique insights into their performance.
The COVID-19 pandemic has affected all the businesses, suppressing profitability, stifling innovation, financial reserves and drying up cash flows. Buyers, companies, and suppliers are equally affected by this pandemic and the market is also expected to be impacted in due course. Production and demand schedules are at risk due to supply chain disturbance, thus posing financial peril to firms and financial markets. While lockdowns were decelerating supply chains, innovative technology such as control towers are observing trouble for the short term. Nonetheless, the pandemic is also acting as a channel for the evolution of better production and distribution networks to cater worldwide demand.
Market Trends, Drivers, Restraints, and Opportunities
- Control tower solutions are receiving momentum and witnessing increased demand from organizations across different industry verticals.
- The growing acceptance of the recent technology, such as the cloud computing, IoT, and AI, in several industry verticals is contributing to the market.
- For improving a business factors as competitive advantage, decision-making capability, the ability to provide services to all functioning areas, and keeping operations running efficiently are expected to boost the market growth in the coming years.
- Companies are concentrating on the adoption of these solutions to accurately respond, predict and even forecast supply chain issues which is further estimated to provide growth opportunities to the market.
- Data protection and safety are major issues are expected to restrain the market growth during the forecast period.
Scope of the Report
The report on the control towers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Control Towers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Analytical and Operational), Applications (Supply Chain and Transportation), End-users (Aerospace & Defense, Chemicals, Retail & Consumer Goods, Healthcare, Manufacturing, High Technology Products, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
E2open, LLC.; Blue Yonder Group, Inc.; Infor; Elementum; Kinaxis; One Network Enterprises; Llamasoft Inc.; PearlChain; SAP SE; and Viewlocity Technologies Pty Ltd.
Market Segment Insights
Operational segment account for a key market share
Based on types, the global control towers market is bifurcated analytical and operational. The operational segment accounts for a key share of the market due to increased adoption rate; however, the analytical segment is anticipated to expand at a rapid pace during the forecast period owing to the rising volume of data across supply chains.
Supply Chain segment is estimated to expand at a robust growth rate
In terms of applications, the market is differentiated into supply chain and transportation. The supply chain is estimated to expand at a robust growth rate as they offer correct end-to-end visibility and in-app control throughout the entire supply chain network. Meanwhile, the transportation segment accounts for a high growth rate due to their visibility into deliveries, track, and trace, ASN, on-time delivery, freight spend,
Manufacturing segment is projected to expand at a considerable CAGR
In terms of end-users, the market is divided into chemicals, aerospace & defense, healthcare, retail & consumer goods, high technology products, manufacturing, and others. The manufacturing segment is projected to expand at a considerable CAGR due increasing demand for on-time delivery of products is encouraging improvements in the efficiency of supply chains. On the other hand, the high technology products segment accounts for a key market share due to the growing demand for improved outcomes and the cost-effectiveness of supply chain management.
North America is anticipated to constitute a key market share
In terms of regions, the global control towers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
The market of North America accounts for a key share of the market owing to growing adoption to efficiently manage the rising volumes of information originated from value chains and use the data to obtain business insights. The market of Asia Pacific is anticipated to constitute major share of the market as organizations in the region are steadily adopting digitization and other advanced technology.
The global control towers market has been segmented on the basis of
- Supply Chain
- Aerospace & Defense
- Retail & Consumer Goods
- High Technology Products
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- E2open, LLC.
- Blue Yonder Group, Inc.
- One Network Enterprises
- Llamasoft Inc.
- SAP SE
- Viewlocity Technologies Pty Ltd.
Key players competing in the control towers market are E2open, LLC.; Blue Yonder Group, Inc.; Infor; Elementum; Kinaxis; One Network Enterprises; Llamasoft Inc.; PearlChain; SAP SE; and Viewlocity Technologies Pty Ltd.
The main market players are continuously indulging in the activities such as mergers and acquisitions, research and developments, investments for innovative products and collaborations. For instance, One Network Enterprises introduced the Telematics-enabled control towers with real-time tracking through its Telematics Network in April 2020.