The global control towers market size is expected to reach USD 32.14 billion by 2030, growing at a CAGR of 20.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. The end-to-end visibility offered by the supply chain tower is increasing its importance in logistics, warehouse, and inventory activities. The companies shifting towards end-to-end control towers include Apple, Amazon, Samsung, Unilever, Walmart, and others.
The growing need for supply chain management among U.S. hospitals is also one of the major factors driving the market growth. According to the survey conducted by Navigant, unnecessary spending on supply chain-related products by the surveyed U.S. hospital accounted for USD 25.7 billion in 2018. Additionally, according to the Navigant survey, U.S. hospitals could save USD 11 million a year per hospital by reworking their supply chains. As a result, demand for control tower solutions is expected to grow among the hospitals in the country to streamline their supply chain operations.
Various consumer goods companies are making efforts to enhance their control tower offerings by entering into a partnership with control tower solution providers. For instance, in December 2021, A.P. Moller - Maersk, a logistic company, announced its partnership with Unilever, a provider of home care, beauty & personal care, and foods & refreshment products. This agreement leads to the development of Unilever’s International Control Tower Solution, an operational management solution. Additionally, through this partnership, the former company provides operational management of international air and ocean transport underpinned by the A.P. Moller - Maersk’s supply chain platform NeoNav.
COVID-19 negatively impacted the supply chain in 2020. As a result of the pandemic, numerous companies in the manufacturing sector have started focusing on adopting the control towers technology to address the supply chain blind spots such as network bottlenecks, unexpected supply shortages, and response to changing customer demand. Organizations started making efforts in digitalizing supply chain processes during the pandemic. According to the study conducted by Capgemini, 60% of organizations planned to increase their investments in digitalized supply chain solutions in 2020. Additionally, in 2020, 38% of surveyed organizations adopted control tower solutions, and 31% accelerated their investments in control tower solutions.
Request a free sample copy or view report summary: Control Towers Market Report
The analytical segment is expected to witness rapid growth over the forecast period. The ability of the analytical control tower to offer real-time analytics information is a major factor driving the growth of the segment
The supply chain segment dominated the market in 2021. The segment growth can be attributed to the rise in the use of control towers in the supply chain as it offers end-to-end visibility throughout the network
The high technology product segment is projected to register the highest CAGR over the forecast period. This can be attributed to the rising demand for innovative technology products and the growing import and export of tech-enabled products worldwide
The Asia Pacific region is expected to grow at the highest CAGR over the forecast period. The control towers adoption is increasing in emerging economies, such as India and China, as small and medium-sized organizations are digitizing rapidly and adopting advanced technologies.
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, 2017 - 2030)
Control Towers Application Outlook (Revenue, USD Million, 2017 - 2030)
Control Towers End-use Outlook (Revenue, USD Million, 2017 - 2030)
Aerospace & Defense
Retail & Consumer Goods
High Technology Products
Control Towers Regional Outlook (Revenue, USD Million, 2017 - 2030)
Middle East & Africa
List of Key Players in the Control Towers Market
Blue Yonder Group, Inc.
Coupa Software Inc.
One Network Enterprises
Viewlocity Technologies Pty Ltd.
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."