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The global control towers market grew at a CAGR of around 15% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Control towers act as a centralized hub for an agile cloud platform that focuses on end-to-end supply chain visibility and control. They offer insight into inbound and outbound shipment services, such as on-time delivery and advanced shipping notice (ASN). Therefore, organizations worldwide are adopting control towers to form a multi-enterprise supply chain platform that can provide an in-app control for fast delivery processes. At present, control towers can be integrated with enterprise resource planning (ERP), warehouse management system (WMS) and transportation management system (TMS) to enable actionable, granular visibility and operational control across the entire supply chain network.
Enterprises across different industry verticals are establishing a centralized infrastructure to deliver enhanced security, keep up with changing customer behavior and demands, and maintain a competitive edge in the market. This represents one of the leading factors propelling the market growth as control towers provide omnichannel access to information through smart devices. Apart from this, the leading market players are leveraging advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to break down data silos, eliminate manual processes, get real-time actionable insights, and enable autonomous decision-making. This is further promoting the employment of control towers in the healthcare industry to manage critical equipment supplies and improve patients' quality of care. Furthermore, as the outbreak of coronavirus disease (COVID-19) has disrupted the global supply chain networks, there is a sudden rise in the need for real-time workflow solutions like control towers to mitigate disruptions and optimize core logistics functions, which is anticipated to fuel the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global control towers market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, application and end use industry.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture Plc, Blue Yonder Inc., E2open LLC, Elementum, Infor US LLC (Koch Industries Inc.), Kinaxis Inc., Llamasoft Inc. (Coupa Software Incorporated), One Network Enterprises Inc., Pearlchain.net, SAP SE, Siemens Aktiengesellschaft and Viewlocity Technologies Pty Ltd. (Friedman Corporation).
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