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VANCOUVER, BC, Dec. 27, 2021 /PRNewswire/ — The global supply chain control tower market size reached USD 3.60 Billion in 2020 and is expected to register a significantly robust revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing demand for AI-enabled supply chain control tower solutions for smart alerts is one of the major factors expected to continue to drive market revenue growth.
Drivers:
Preference among various professionals for Artificial Intelligence-enabled smart-alert capabilities is relatively high, as this solution helps to analyze downstream and upstream impacts of events on clients and prioritize actions to more efficiently manage disruptions. Professionals are frequently overwhelmed with data, and AI-enabled smart alerts assist them with sorting through large volumes of relevant data from various sources to focus on the most important problems.
AI-powered supply chain control tower solution also helps to look deeper into specific aspects of a disruption and problem to determine the primary cause and come up with an effective plan of action. Demand for these solutions is expected to increase across various industries and sectors over the forecast period owing to the advantages and benefits offered.
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Restraints:
Organizations face significant challenges in assessing and ensuring high quality of data accessible by the supply chain control tower. Quality of data inputs influence the output quality of visibility and insights. As a result, poor data quality can lead to poor visibility. Therefore, data quality issues and shortage of trained professionals to generate insights are some key factors expected to hamper market revenue growth to some extent.
Growth Projections:
The global supply chain control tower market is expected to register a revenue CAGR of 15.9% over the forecast period and revenue is projected to increase from USD 3.60 Billion in 2020 to USD 11.54 Billion in 2028. Increasing demand for autonomous decision-making tools is among the key factors boosting market revenue growth.
COVID-19 Impact Analysis:
Businesses have been adversely affected by the COVID-19 pandemic, which has hampered innovations and reduced profitability across various industries and sectors globally. Supply chain disruptions affect demand and production plans, creating financial risks for businesses. As supply chains have been slowed down by lockdowns, deployment of newer technologies such as control towers has been affected, but only for a short term. However, the outbreak is catalyzing the creation of better distribution and production networks in order for manufacturers and suppliers to effectively meet global demand for various products. Organizations are also focusing on adoption of such technologies to be able to more effectively forecast and manage supply chain difficulties and also to bring in more modernization to be able to keep up with various advancements.
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Current Trends and Innovations:
Supply chain control towers can use Machine Learning (ML) and Artificial Intelligence (AI) to generate insights, in addition to visibility, monitoring, and alerting. Insights save professionals much time when it comes to searching through data volumes, matching, and analysis. AI-powered supply chain control towers offer the benefit of enabling professionals to communicate with solutions utilizing natural language. Thus, increasing integration of Artificial Intelligence and Machine Learning with supply chain control towers is helping professionals to generate useful insights and recommendations. This is expected to boost market revenue growth during the forecast period.
Geographical Outlook:
Asia Pacific supply chain control tower market is expected to register a significantly steady revenue CAGR over the forecast period. This is due to robust presence of major players, such as Elixia Tech Solutions Pvt. Ltd. and PandoCorp Private Limited, among others, in countries in the region.
Strategic Initiatives:
Some major companies included in the market report are SAP SE, Infor, Inc., International Business Machines Corporation, Kinaxis, Inc., o9 Solutions, Inc., Publicis Sapient, Elixia Tech Solutions Pvt. Ltd., Blue Yonder Group, Inc., One Network Enterprises, Inc., and PandoCorp Private Limited
- On 29 November 2021, Kinaxis Inc., the expert in driving agility for rapid, confident decision-making in an uncertain environment, announced that it would be expanding the customer value offered in partnership with its worldwide partner ecosystem by introducing new partners to the Value Added Reseller (VAR) program in 2022. This will offer a Kinaxis RapidResponse starter package, Kinaxis Planning One, to assist mid-market businesses and enterprises entering new markets in transitioning from Excel or a patchwork of point solutions to an end-to-end foundation for sophisticated supply chain planning with the shortest time to go live in the market.
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Emergen Research has segmented the global supply chain control tower market on the basis of control tower type, application, end-use, and region:
- Control Tower Type Outlook (Revenue, USD Billion; 2018–2028)
- Operational
- Analytical
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Inventory Management
- End to End Supply Chain Management
- Supply Assurance
- Fulfillment & Order Data Integration
- Others
- End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Retail
- Healthcare
- Aerospace and Defense
- Industrial
- Automotive
- Manufacturing
- Chemicals
- Others
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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