New York, USA, Dec. 13, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global control towers market is expected to generate $9,881.0 million in revenue and rise at a healthy CAGR of 14.9% during the estimated timeframe from 2021-2028.
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As per our analysts, the increasing adoption of advanced analytics tools such as big-data analytics, real-time analytics, and cognitive technologies across many organizations to predict future trends, better transparency, enhance data precision, and much more, the market is expected to see striking growth during the forecast period. Besides, the growing adoption of big data and cloud-based technology by forward-thinking manufacturers to surpass the limitations of supply chain management and enterprise resource planning systems is expected to fortify the growth of the control towers market during the analysis period. Furthermore, the growing need for enhancing operational and supply chain efficiencies are expected to create massive growth opportunities for the market over the estimated period. However, the increasing data security concerns among enterprises may hinder the growth of the market during the forecast period.
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Covid-19 Impact on the Control Towers Market
With the rise of the Covid-19 pandemic the control towers market has experienced a positive impact in the later period. Initially, due to the sudden outbreak of the pandemic, the manufacturing enterprises in the market have been forced to suspend the operations to follow the regulatory restrictions. Gradually, the growing need for supply chain management through control towers to provide end-to-end real-time insights, to make fast-paced decisions, and to enhance the seamless flow of goods and cash, has increased the growth of the market during periods of crisis.
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Segments of the Control Towers Market
The report has divided the control towers market into segments based on the type, application, end-use, and region,
Type: Operational Sub-Segment to be Most Lucrative
The operational sub-segment is estimated to generate a revenue of $8,103.8million over the analysis timeframe. This is mainly because the operational control tower system is widely used by all trading partners in the supply chain to handle their daily supply chain execution operation. Moreover, the growing usage of operational control tower systems in both analysis and actions of supply chain functions across industries is the factor expected to boost the growth of the control towers market sub-segment during the analysis period.
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Application: Supply Chain Sub-Segment to be Most Profitable
The supply chain sub-segment is predicted to garner a revenue of $6,166.5 million during the estimated timeframe. This is mainly due to the increased use of the multi-enterprise supply chain by control towers to ensure visibility and control across internal and external supply chain processes. Furthermore, the growing adoption of supply chain networks by control towers to increase end-to-end visibility and to enhance real-time cooperation with suppliers and partners is expected to amplify the growth of the control towers market sub-segment during the forecast period.
End-Use: Automotive and Manufacturing Sub-Segment to be Most Productive
Based on end-use, the control towers market is divided into aerospace & defense, retail & consumer goods, healthcare, information & technology, automotive & manufacturing, and others.
The automotive and manufacturing sub-segment accounted for $671.5 million in 2020 and is estimated to garner a revenue of $1,967.6 million during the forecast timeframe. This is mainly because this segment is broadly helping the manufacturing control tower to enhance the operation across all aspects and layers of the shop floor, enterprise, and supply chain. Moreover, increasing demand for efficient supply chain management automotive sector to deliver full governance of complex operations across different modes and service providers is further predicted to uplift the growth of the control towers market sub-segment over the analysis period.
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On the other hand, the retail and consumer goods sub-segment accounted for $539.1 million in 2020 and is expected to generate a revenue of $1,816.9 million during the estimated period. The increasing usage of control towers in retail sectors in observing the continuous change in consumer preferences, apprehending spending, and fulfilling the unmet demands, is further predicted to fuel the growth of the market sub-segment during the forecast period.
Region: North America Region Predicted to Have Considerable Growth Opportunities
The North America region is expected to garner a revenue of $4,982.0 million during the analysis timeframe. This is wide due to the reliance of the industries of this region on supply chains to produce more customer-centric growth engines. Moreover, the active contribution of leading market players in adopting supply chain management across modalities, divisions, and countries of this region is expected to drive the regional growth of the control towers market over the forecast period.
Key Players of the Control Towers Market
1. Blue Yonder Group
2. E2open
3. INFOR
4. KINAXIS
5. SAP SE
6. DiLX
7. o9 solutions
8. ORTEC
9. Viewlocity Technologies Pty Ltd
10. One Network Enterprises
These players are widely working on the development of new business tactics and strategies to procure leading positions in the global industry.
For instance, in November 2021, IHS Towers, one of the leading independent owners, operators, and developers of shared telecommunications infrastructure, has signed agreements to obtain 5,709 telecommunication towers in South Africa. With this acquisition, the company is aiming to provide Power-as-a-Service to MNT, a renowned mobile telecommunication operator in South Africa.
Further, the report also presents other important aspects including SWOT analysis, the financial performance of the key players, product portfolio, SWOT analysis, and the latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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