The transportation industry is evolving with time and has turned out to be one of the largest segment options in advanced technologies like the Internet of Things. With substantial investment options in the transportation industry, it will transform the way we see public transportation, logistics, and other fleet management.
The transportation industry has discovered the advantages of mobile technologies; however, the unpredictable nature, cost, and other operations are sometimes challenging.
Today’s transport provides us with access to public transportation, shipping, ride-sharing, and unquantifiable comfort. Traditional and complicated? IoT solutions promise to make transportation organizations smarter and more successful at what they do. IoT is at the heart of transportation reshaping forces to deliver higher safety, more effective travel, aircraft maintenance, and more strategic traffic management.
According to Allied Market Research, the global influx of IoT into the transportation sector was valued at $135.35 billion for 2016 and is estimated to touch $328.76 billion by 2023, a CAGR growth of 13.7% globally. (View).
Top Ways – How the Internet of Things Revolutionised Transportation Industry
A huge shift is taking place worldwide in the trucking industry. Older cars are being substituted by ‘smart trucks,’ using machine-to-machine, Internet of Things and cellular data communications technologies to communicate vital data for today’s fleet management. IoT in transportation has the authority to revolutionize the fleet management sector by combining IoT with artificial intelligence, large information, and predictive analytics.
1. Real-time Data Access
Drivers taking an unnecessary break and stoppage on their way to delivery or keeping the engine switched on for a longer period also results in wastage. But nowadays, with high-quality services installed in the vehicles help you to gather all the real-time data and allow you to optimize their business. It helps to get an unpredicted level of insight like the location of vehicles, and the drivers with IoT solutions leverage real-time information that effectively organizes the day-to-day operation of their fleet services.
2. Connected Mobility
IoT gains more pace, and it is continuously growing with time. Now stations are able to manage incoming and outgoing vehicles more efficiently. The IoT solutions allow proactive monitoring for all sensors and later analyze the collected data for future handling. It provides insight managers to track fuel consumption and routines.
3. Smart Inventory Management
IoT in transport has smart stock management that acts as a catalyst, telling real-time data throughout the warehouse, distribution and manufacturing center, reducing stock costs, and improving predictive maintenance. Smart stock management systems reduced stock costs and lowered stock management mistakes. IoT sensors, systems, and in-depth information have reinforced the legalized inventory management system.
4. Assets Utilisation
IoT in transport allows you to keep track of the physical assets and their location and status information. IoT solutions enable us to monitor their truck’s real-time location and the amount of load on their vehicles. One can know the latitude and longitude of an asset with the help of IoT applications.
Fleet management connected device’s number worldwide is expected to grow to 60 million by 2023 from 11 million devices in 2013. Also, statistics suggest that the globally connected fleet market is expected to grow from $12.56 billion in 2014 to $35.35 billion in 2019. (View)
5. Geo Location
IoT has developed a modern type of GPS in the transportation industry, i.e., geo-fencing. It captures an asset or device location with a given range. Geo-fencing is the biggest benefit of IoT in the transportation industry. Notifications will be received if a driver deviates from the recommended path, or may delay shipping time and accidental loss.
6. Vehicle Health
Driver safety is essential nowadays; the future might be driverless. Most vehicles are now automatic. IoT helps in keeping the vehicle healthy and creating a safe and efficient world. Vehicle parts of an IoT ecosystem will regularly undergo real-time inspections to guarantee the full potential of a vehicle, bus, or boat. The tech and sensors supplied will notify a driver or mechanic if there are any issues with the car.
Key Skills of IoT
- Implementing the Internet of Things often underestimates the complexity of IoT apps and overestimates the integrated IoT platform integration capacities.
- Compared to traditional integration, IoT projects can involve a large number of devices, a proliferation of APIs, complex events, large and small of IoT data – all of which tax traditional integration strategy and technology.
- IoT project typically requires IoT devices, data, and process integration and also often includes some enterprise applications, cloud services, mobile, and B2B integration.
- The built-in integration capabilities of IoT platforms are typically sufficient for simpler IoT project integration.
Mobile technology and IoT advances dramatically improve the way transport and logistics companies work. Through these alternatives, the IoT development services allow organizations to identify inefficiencies in real-time, improve throughput, and help them to create progressive plans and move towards innovation. It bound up its own set of problems that need to be resolved and get the benefits with enhanced public safety, traffic flow and improved productivity and reduced challenges and overall increase the efficiency of our everyday life.