Control Towers Market | To Perceive Substantial Growth During 2021 – 2030
The shortage of trained professionals to generate accurate insights is one of the factors responsible for hindering the growth of the control tower industry.
PORTLAND, PORTLAND, OR, UNITED STATE, November 1, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Control Towers Market,” The control towers market size was valued at $5.6 billion in 2021, and is estimated to reach $26.3 billion by 2030, growing at a CAGR of 18.7% from 2022 to 2030.
Rising demand for cloud-based, big data analytics, in the supply chain sector for increasing end-to-end visibility and for better efficiency and decision-making process has led to an increase in the demand for control towers, contributing to the control towers market growth in the upcoming years.
The growth can be attributed to the increased business needs of retailers, contract manufacturers, and logistics providers to digitalize their supply chain processes. This is because supply chain control tower software solution offer businesses enhanced visibility and enable them to make better decisions. Control towers are becoming more common in the supply chain and transportation ecosystems as it makes it easier for businesses to track deliveries in real-time and improve delivery efficiency.
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For control towers industry players, the retail industry is predicted to offer excellent growth potential. Traditional retailers are being forced to look for ways to provide customers with a consistent experience across all channels due to the increased customer preference for online sales. In addition to monitoring, visibility, and alerting, supply chain control towers can leverage Machine Learning (ML) and Artificial Intelligence (AI) to produce insights.
Professionals spend less time searching through large amounts of matching data sets data, and doing analyses on a control towers helps to reduce the time required for searching large amounts of data. Professionals may interact with solutions using natural language thanks to AI-powered supply chain control towers.
As a result, professionals are being assisted in producing insightful and helpful recommendations by the rising integration of artificial intelligence and machine learning with supply chain control towers. These factors are anticipated to boost the control towers market growth in the upcoming years.
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The global control towers market share is segmented based on type, application, end-use, and region. By type, it is classified into operational and analytical. By application, it is classified into supply chain and transportation. By end-use, it is classified into aerospace & defense, healthcare, retail & consumer goods, automotive & manufacturing, information & technology, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the control towers market report include Blue Yonder Group, E2open, INFOR, KINAXIS, SAP SE, DiLX, o9 solutions, ORTEC, Viewlocity Technologies Pty Ltd, and One Network Enterprises.
The report offers a comprehensive analysis of the global control towers market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards growth of the market.
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The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.
Impact of COVID-19 on the Global Control Towers Industry:
• COVID-19 impact on the control towers market has a negative effect on businesses, hindering innovations and lowering profitability across a range of industries and sectors globally.
• Disruptions in the supply chain have an impact on demand and production plans, putting firms at financial risk. Lockdowns have hindered supply chains, which has hampered the implementation of more advanced systems such as control towers.
• COVID-19 impacted almost all industries and many companies ceased their operations owing to import-export restrictions, lockdowns imposed across several countries, shortage of labor due to the fear of contracting the novel coronavirus led to sluggish demand in the market.
• Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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