Control Towers Market to Observe Significant Growth Due to Technological Advancements and Company Acquisitions by Market Players, such as Amazon Web Services, One Network Enterprises, and Others
A control tower is a hub used for action, visibility, and decision-making based on real-time analytics. The use of a control tower is becoming more common across the globe as a way to implement comprehensive solutions, deal with uncertainty, and balance services, prices, and consumer expectations. The rising demand for control towers from the transportation & supply chain ecosystem makes the delivery process easier and more efficient to track deliveries in real-time. This is the major factor likely to bolster the growth of the control towers market around the world. Further, the growing demand for analytical tower solutions and the increasing volume of data across supply chains are other factors expected to drive the market growth in the coming years.
COVID-19 Impact on Control Towers Market
The outbreak of COVID-19 across the globe has had a short-term adverse impact on the global control towers market growth. This is mainly because some of the manufacturing enterprises in the market temporarily suspended their operations to comply with new regulatory restrictions. Restrictions on transportation, stringent border controls, and limited accessibility to air transportation are delaying the procurement of components and raw materials, along with product shipments to customers.
The pandemic has directly affected the revenue streams and overall operations due to trade and supply chain disruptions. Due to this, the demand and production schedules are at risk and are therefore posing financial threats to firms and financial markets. However, the pandemic is also acting as a catalyst for the development of better production and distribution networks in order to better cater to the global demand. Companies across the globe are now focusing on the adopting advanced control towers to better predict, respond, and forecast supply chain issues.
Control Towers Market Trends and Developments
The companies operating in the global industry are adopting various growth strategies and business tactics such as partnerships, acquisitions, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global control towers market growth in the upcoming years.
- In June 2019, Amazon Web Services Inc. announced the launch and availability of ‘AWS Control Tower,’ a service for customers that makes it easy for them to set up and constantly govern secure, compliant multi-account AWS environments. According to the company, AWS Control Tower is easy to use for customers with the AWS Management Console in order to organize their new multi-account environment.
- In April 2020, One Network Enterprises, an intelligent business platform for autonomous supply chain management, declared the availability of Telematics-enabled Control Tower Solution coupled with real-time tracking thru its Telematics Network. The solution comprises of pre-integrated connections to telematics services and thus makes it easy for global carriers, freight forwarders, and other logistics service providers easy to collaborate with shipping partners.
- In February 2021, cloudtamer.io, a leading provider of multi-cloud governance solution, announced a new integration with AWS Control Tower to provide cost management features that balance AWS Control Tower and also help in restructuring spend management for customers at scale.
Forecast Analysis of the Global Market
The global control towers market is projected to witness an exponential growth during the forecast period, owing to the growing need for businesses to enhance operational and supply chain efficiencies. Conversely, the increasing data security concerns and the various issues encountered by enterprises after adopting control towers are the factors expected to hamper the market growth in the projected timeframe.
The increasing adoption of big data analysis, cognitive technologies, and real-time analytics by various organizations across the globe are the significant factors and control towers market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global control towers market is expected to garner $26,279.8 million during the forecast period (2022-2030). Regionally, the North America region is estimated to hold the majority of market share over the forecast period mainly owing to the new disruptive technologies, presence of significant market players, and the emergence of new business models in the region. The key players functioning in the global market include Blue Yonder Group, E2open, INFOR, KINAXIS, SAP SE, DiLX, o9 solutions, ORTEC, Viewlocity Technologies Pty Ltd, and One Network Enterprises.
Personalize this research
- Triangulate with your own data
- Get Data as per your format and defination
- Get a deeper dive on a specific application, geography, customer or competitor
- + 1-888-961-4454 Toll - Free
- + 91-788-802-9103 -Int'l