According to a recent FMI analysis, the control tower market would develop at a 17.5% compound annual growth rate (CAGR) from 2022 to 2032. The market is expected to be valued at $40 billion by the end of the previously mentioned evaluation period.
The advantages of control towers are one of the primary factors driving the market’s global rise. Adoption of technology solutions, such as various delivery management software, enables real-time order information to be accessed in the case of an issue, eliminating the need for outside support.
Control tower requirements are also rising as a result of businesses’ requirement for access to critical information in order to determine the precise steps that need to be performed at every level of the process.
A control tower also assists employees in regulating the order based on the time cycle, spotting process failures, and optimizing their judgments.
Apart from that, the control tower increases the team’s decision-making quality by providing feedback from the system. The control tower, on the other hand, provides unique insights to the personnel by gathering data from the daily work process, allowing them to optimize and improve their performances.
Control tower systems are gaining popularity among businesses because to the numerous benefits they provide. Control towers provide several benefits such as improving corporate income, eliminating waste, optimizing supply chain processes, business information analysis, and precise forecasting.
The solutions help businesses find growth prospects in the global control towers market and evaluate alternative areas for cost-cutting.
Furthermore, the growing usage of modern technologies such as artificial intelligence, cloud computing, and the internet of things in various industries will drive the global control towers market during the forecast period.
Key Takeaways from the Market Study
- FMI projects the global control towers market to expand at a 17.5% value CAGR by 2032
- The global control towers market is estimated at a market value of US$ 8 Billion
- The global control towers market is expected to garner a market value of US$ 40 Billion
- North America is expected to be the most lucrative for control towers market growth.
- Europe is expected to grow at a CAGR of 13% market share for Control Towers during the forecast period.
- The operational segment is expected to the most traction for control towers in the forecast period 2022-2032.
“Control tower market trends include an increase in online commerce, a desire for real-time monitoring, and an increase in smartphone usage in emerging nations. Control tower market trends include a rise in online shopping, a demand for real-time monitoring, and the increasing usage of smartphones in developing countries, all of which are creating opportunities for control towers”says an analyst at FMI
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Market Competition
Key players in the Control Towers market are Blue Yonder Group, Inc., E2open, LLC, Elementum, Infor, Kinaxis, Coupa Software Inc., One Network Enterprises, PearlChain, SAP and Viewlocity Technologies Pty Ltd.
- In March 2022, Blue Yonder Group, Inc. established a relationship with Snowflake, a data cloud firm. The collaboration aims to improve access to diverse data for supply chain management. Blue Yonder’s Snowflake-powered Luminate Platform enables manufacturers, retailers, and third-party logistics providers to predict and resolve disruptions within their businesses in order to reduce risk and address supply chain challenges.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global Control Towers market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Type (Analytical and Operational), Application (Supply Chain and Transportation), End Use (Aerospace & Defense, Chemicals, Retail & Consumer Goods, Healthcare, Manufacturing, High Technology Products and Others), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Profiled in the Control Towers Market Industry Survey
Control Towers Market by Type:
- Analytical
- Operational
Control Towers Market by Application:
- Supply Chain
- Transportation
Control Towers Market by End Use:
- Aerospace & Defense
- Chemicals
- Retail & Consumer Goods
- Healthcare
- Manufacturing
- High Technology Products
- Others
Control Towers Market by Region:
- North America Control Towers Market
- Latin America Control Towers Market
- Europe Control Towers Market
- Asia Pacific Control Towers Market
- Middle East & Africa Control Towers Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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