The Global Control Towers Market size is expected to grow from USD 7.31 billion in 2022 to USD 34.72 billion by 2030, at a CAGR of 21.5% during the forecast period (2023-2030).
A control tower is described as a customized dashboard of data, connected key performance indicators (KPIs), and supply chain events. A supply chain control tower enables businesses to quickly identify, classify, and resolve urgent concerns. Control towers keep track of, quantify, and coordinate movement and inventory across a supply chain. A control tower is a group of businesses that employs various tools and techniques to provide each supply chain partner with total product visibility. Control towers provide real-time visibility over an organization's complete network, including its suppliers and business partners.
Top Key Players for Control Towers Market:
Blue Yonder Group (US), E2open LLC (US), INFOR (US), KINAXIS (Canada), Accenture Plc. (Ireland), SAP SE (Germany), Pearlchain (China), ORTEC (Netherlands), Viewlocity Technologies Pty Ltd (US), One Network Enterprises (India), and Other Major Players.
Market Dynamics and Factors for Control Towers Market:
Drivers:
Growing Use of Big Data Analysis, Real-Time Analytics, and Cognitive Technologies
The demand for better supply chain management and logistics techniques is a result of the globalization of the entire economy. Any supply management program's ability to gather, arrange, and assess data is crucial to the program's overall success. Businesses operating in a wide variety of industry sectors have a strong demand for control tower solutions, and this demand is growing quickly. These technologies provide a wide range of advantages, some of which include precise forecasting and Business Intelligence (BI), which support the improvement of organizational revenues, waste reduction, and supply chain optimization.
Opportunities:
Increasing Demand for Improving Supply Chain and Operational Efficiencies
The implementation of technologies like big data analytics and artificial intelligence by the control tower enhances operational capacity and efficiency, adding value to supply chain management. If a company continues to use ineffective and counterproductive business methods in an environment where there is fierce competition, the opportunity cost it faces will be considerably higher. Businesses must engage in process improvement techniques like the Internet of Things (IoT), machine learning, reengineering, and operational enhancement, among others, if they are to overcome these inefficiencies and raise the quality of their services.
Segmentation Analysis of the Control Towers Market:
- By Type, the operational segment is anticipated to dominate the Market over the Forecast period. Such control towers are used for both analysis and execution. This will be a complete solution that provides all the necessary features. Operational control towers are among the larger systems with analytical capability. Deals are done in the supply chain control tower.
- By Application, the Supply Chain segment is anticipated to register the fastest growth over the forecast period. Real-time data and visibility are becoming increasingly important, and this is one of the main drivers of the segment's expansion. Advanced technologies, such as Internet of Things (IoT) sensors and connected devices, are being used by control towers to collect and analyze data throughout the supply chain in real time.
Regional Analysis of the Control Towers Market:
North America is expected to dominate the Market over the Forecast period. Increasing vehicle production in North America could potentially drive the Control Towers market. In North America, the use of transportation management systems and third-party logistics service providers has increased, which has increased the demand for control towers. TMS and LSP adoption are the driving forces behind North American control towers. The demand for quick and effective transportation services is growing, and North American transportation firms and LSPs are adopting TMS more and more to manage operations.
Key Industry Development:
- In July 2022, Infor partnered with Syntellis, a leading provider of EPM software, data, and intelligence solutions. This collaboration sought to provide access to the Syntellis Axiom Healthcare Suite of intelligent planning and performance solutions for both new and existing Infor healthcare customers.
- In June 2020, Walplast launched a unique program ‘Supply Chain Control Tower’ to establish an information center for the forecasting of the supply chain.
