According to the latest report by IMARC Group, titled “Control Towers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global control towers market is projected to grow at a CAGR of 17.9% during 2022-2027. Control towers refer to centralized cloud-based solutions that leverage various advanced technologies to enable organizations to prioritize, monitor, and optimize supply chain operations. They are usually employed to offer personalized data dashboard and business biometrics, which aid in improving visibility, control, and decision-making procedures. They include warehouse management systems (WMS), enterprise resource planning (ERP), and transportation management systems (TMS) as some standard integrations. These solutions assist in providing operational control over analytics and the overall supply chain network, offering real-time actionable inputs, breaking down data, predicting disruptions, and managing unplanned events. Apart from this, control towers allow better planning, enable collaborative information sharing, improve resiliency, eliminate manual interventions, and achieve cost-saving goals. Based on these properties, control towers are extensively used by multiple organizations to create multi-enterprise supply chain platforms to optimize product delivery operations.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Control Towers Market Trends:
The widespread adoption of control towers across various industrial verticals can be attributed to the growing need for efficient centralized infrastructure and supply chain solutions with enhanced security to improve operational efficiency and ensure data visibility. In line with this, the rising demand for information-sharing tools and control tower, which provide omnichannel access to information through smart devices, is acting as another growth-inducing factor. Additionally, the large-scale integration of artificial intelligence (AI), machine learning (ML), big data analytics, cloud-based, real-time analytics, and other technologies for making intelligent, actionable insights, breaking data silos and optimizing lead times is contributing to the market growth. This is further supported by the advent of AI-driven resolution rooms and playbooks, coupled with supply chain applications, to improve product flow and apply predictive modeling to third-party logistics. Furthermore, the extensive utilization of control towers in the healthcare sector for monitoring the supply and managing medical equipment supplies for treatment procedures is supporting the market growth. Apart from this, strategic collaborations amongst key players have resulted in the launch of telematics-enabled control towers with real-time tracking solutions, which, in turn, are creating a positive outlook for the market.
- On the basis of the type, the market has been bifurcated into analytical and operational.
- Based on the application, the market has been bifurcated supply chain and transportation.
- On the basis of the end use industry, the market has been segregated into aerospace and defense, chemicals, retail, consumer goods, healthcare, manufacturing, high technology products and others.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some 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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