What is the Impact of the Novel Coronavirus on the Control Towers Market?

The global control towers market size was valued at USD 5.28 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2020 to 2027. Control towers are increasingly becoming predominant in the supply chain and transportation ecosystem, making it easier to track deliveries in real-time and making the delivery process more efficient. For businesses, last-mile delivery is still a challenge owing to issues related to lack of visibility, allocation, inefficiency, and speed of drivers. By creating an ecosystem that focuses on transparency, businesses can gain better visibility in the real-time status of an order and lessen the risk of possible issues as well as acquire data on how to manage orders more competently.

Companies can primarily benefit from control towers as when any issues arise, the use of technological interventions such as delivery management software to get live information about the order without relying on a third-party. Improved visibility ensures that the company has the necessary data to know precisely which actions to take at every step of the process. With a control tower, the staff can perform analysis to optimize decisions, identify a process breakdown, and control orders better based on cycle times. Teams that monitor control towers can make better decisions based on feedback obtained from this system. By gathering data from daily delivery processes, they also help deliver unique insights into their performance.

Gather more insights about the market drivers, restrains and growth of the Global Control Towers Market

Control tower solutions are gaining momentum and are witnessing high demand from enterprises across different industry verticals. Manifold benefits offered by these solutions, such as accurate forecasting and Business Intelligence (BI), help optimize the supply chain, minimize wastage, and increase organizational revenues. These solutions also help enterprises and organizations in identifying business growth opportunities and determining areas for cost-saving. Additionally, the growing adoption of the latest technologies, such as the IoT, cloud computing, and AI, in various industry verticals is further driving the growth of the market.

Suppliers and distributors often struggle in understanding customer demand and consecutively maintaining adequate inventory levels and avoiding stock-outs. As a result, suppliers end up either falling short of supplies or hosting expensive excess stocks that can hamper their profitability and cause customer satisfaction levels to drop. To avoid this, effectively determining and predicting demand remains crucial for manufacturers, distributors, and retailers. Control towers help resolve these issues by improving a business’ decision-making capability, competitive advantage, and the ability to provide services to all functioning areas, keeping operations running efficiently.

Despite the acknowledged advantages that control towers offer, enterprises encounter several issues in adopting them. Data security is a major issue hampering the adoption of control towers. The market is characterized by collaborations among numerous vendors operating at different levels of the supply chain. A control tower demands an exchange of data and sensitive information among companies and their partners operating at different levels, all of which may have a variable ability to ensure data security and protect sensitive information from unauthorized individuals. Hackers may try to access the information, thereby putting the entire operation in jeopardy. To counter such threats, vendors must increasingly focus on data prevention by keeping critical machines away from external networks and protecting them from malicious hackers.

The COVID-19 pandemic has taken a toll on businesses, stifling innovation, suppressing profitability, and drying up cash flows and financial reserves. Companies, buyers, and suppliers are equally affected by the outbreak and the market is also likely to be impacted in due course. Demand and production schedules are at risk owing to supply chain disruptions, thereby posing financial threats to financial markets and firms. While lockdowns are slowing down supply chains, innovative technologies like control towers are also seeing trouble for the short term. Nevertheless, the pandemic is also acting as a catalyst for the development of better distribution and production networks to better cater to global demand. To bring in these changes, companies are focusing on the adoption of these solutions to better predict and respond, and even forecast supply chain issues.

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Control Towers Market Segmentation

Grand View Research has segmented the global control towers market based on type, application, end-use, and region:

• Control Towers Type Outlook (Revenue, USD Million, 2016 - 2027)

o   Analytical

o   Operational

• Control Towers Application Outlook (Revenue, USD Million, 2016 - 2027)

o   Supply Chain

o   Transportation

• Control Towers End-use Outlook (Revenue, USD Million, 2016 - 2027)

o   Aerospace &Defense

o   Chemicals

o   Retail & Consumer Goods

o   Healthcare

o   Manufacturing

o   High Technology Products

o   Others

• Control Towers Regional Outlook (Revenue, USD Million, 2017 - 2030)

o   North America

o   Europe

o   Asia Pacific

o   Latin America

o   Middle East & Africa

Market Share Insights

November 2021: The prominent self-governing owners, operators, and developers of shared telecommunications infrastructure, IHS Towershas signed agreements to obtain 5,709 telecommunication towers in South Africa. Through this acquirement, the company is aiming to provide Power-as-a-Service to MNT, a mobile telecommunication operator in South Africa.

April 2020:One Network Enterprises announced the availability of Telematics-enabled control towers along with real-time tracking via its Telematics Network.

Key Companies profiled:

Some prominent players in the global Control Towers market include

• Blue Yonder Group, Inc.
• E2open, LLC
• Elementum
• Infor
• Kinaxis
• Llamasoft
• One Network Enterprises
• PearlChain
• SAP
• Viewlocity Technologies Pty Ltd.

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