DUBLIN–(BUSINESS WIRE)–The “Global Control Towers Market Size, Share & Industry Trends Analysis Report by Type, Application, End-use, Regional Outlook and Forecast, 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Control Tower Market size is expected to reach $14.6 billion by 2028, rising at a market growth of 15.2% CAGR during the forecast period.
The control tower system is made up of procedures, human organization, and an IT system. With a control tower, the staff may perform analysis to enhance decisions, identify a process failure, as well as effectively manage orders based on turnaround time. Teams in charge of keeping an eye on control towers can make better choices based on the review and feedback from this system.
It provides better visibility for both immediate and long-term choices that are consistent with strategic objectives. Control towers are becoming more and more common in the transportation and supply chain ecosystem, making it simpler to track deliveries in real-time and improving the efficiency of the delivery process. Due to challenges with visibility, allocation, efficiency, and driver speed, last-mile delivery remains difficult for organizations.
Businesses may improve order visibility in real-time, reduce the chance of problems, and gather information on how to manage orders more precisely by establishing an ecosystem that prioritizes openness. The control tower concept essentially seeks to improve visibility amongst trading partners, including companies, nations, and means of transportation.
COVID-19 Impact Analysis
In the modern dynamic supply chain environment, advanced control towers are a requirement. They assist companies in increasing their visibility, improving their decision-making, and swiftly identifying and resolving supply chain issues. As a result of the pandemic, the market was majorly disrupted during the course of the pandemic.
However, as the government lifted bans and restrictions on business processes, market players leveraged various robust strategies, due to which, the market witnessed increased growth after the lockdown period.
Market Growth Factors
Rapidly Increasing Adoption Of Real-Time Analytics, Big Data, And Cognitive Technologies
With the globalization of the whole economy, the requirement for enhanced supply chain and logistics management practices has become inevitable. The ability to gather, arrange, and evaluate data is a crucial aspect of any supply management program’s effectiveness.
Business demand for control tower solutions from a wide range of industry sectors is growing very quickly. These technologies have many benefits, including accurate forecasting as well as Business Intelligence (BI), which supports supply chain efficiency, cuts waste, and increases corporate revenue.
Growing Demand For Improved Efficiency Within Supply Chain And Operations
In a highly competitive climate, any corporation that continues to use ineffective and unproductive business practices loses a lot of opportunities. To address these inefficiencies and boost service quality, organizations must invest in process improvement techniques including machine learning, Internet of Things (IoT), reengineering, operational improvement, and others.
Using technology, like big data analytics and artificial intelligence, the control tower improves operational capabilities and efficiency, adding value to supply chain management.
Market Restraining Factors
Increasing Risk To Data Privacy And Security Due To The Higher Frequency Of Cyber-Attacks
One of the most prevalent issues in the modern and technologically advance connected environment is the increasing frequency of cyber-attacks. Data security is the key concern that can prevent the company from employing the control tower. Inadequate or nonexistent security measures dramatically increase the risk of a cyberattack happening.
A supply chain assault involves infiltration or attack through a third-party source and targets a company. If one of these firms has inadequate Cyber Security threat protection, it can end up acting as the point of entry for the entire supply chain.
Scope of the Study
Market Segments Covered in the Report:
- Supply Chain
By End Use
- Automotive & Manufacturing
- Aerospace & Defense
- Retail & Consumer Goods
- Healthcare & Pharmaceutical
- Information & Technology
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- Blue Yonder Group, Inc. (Panasonic Corporation)
- E2open Parent Holdings, Inc.
- Kinaxis, Inc.
- o9 Solutions, Inc.
- Ortec B.V.
- Viewlocity Technologies Pty Ltd. (Friedman Corporation)
- One Network Enterprises, Inc.
- Infor, Inc. (Koch Industries)
For more information about this report visit https://www.researchandmarkets.com/r/q2ohkk
Laura Wood, Senior Press Manager
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