For most of the things in our lives, we depend on transportation, either it’s about taking us to our work five days a week or travel the corners of the world. The transportation industry has changed and improved in many ways since the Grand Trunk Road was built. With the latest technologies keep on getting introduced in the transportation industry, today it allows us to access public transit, shipping, ride-sharing, and an unquantifiable amount of convenience. The IoT in transportation is also foreseen to witness substantial growth.
Although IoT is already implemented in transportation, it’s really only at the beginning stages of transformation. The IoT in the transportation market is expected to reach $143.93 billion by 2020 at an estimated CAGR of 8.95% from 2014 to 2020. We should expect the uptake of IoT technologies to increase dramatically. IoT in transportation would be something to definitely look forward to because they will bring more improvement in our everyday lives.
Learn about industries using the Internet of Things
Benefits with IoT Applications in Transportation
To have an idea of what we should be expecting and what it would look like it is of great importance to have an understanding of the concept of IoT in the transportation industry. So far, we have already witnessed the incorporation of IoT in transportation, from small to large scale. For instance, when you book an Uber ride, you get a notification- “Your Uber ride is five minutes away” or Virgin Atlantic using IoT to reduce delays by 20% as well as a reduction of 2 hours from daily working hours.
Some of the beneficial aspects of IoT in the transportation industry are as follows:
Vehicle maintenance- When it comes to vehicle maintenance not everyone is an expert. But then to keep the vehicle in tip-top condition everything should be maintained from basic tire pressure to the condition of the engine. With IoT, we can track a vehicle’s health, with real-time inspections to ensure that it’s fully functioning. And there will be a notification or alert if there are any issues to avoid any mishap on road.
Quick Routes- No one enjoys traffic. Besides causing us irritation, it wastes millions of liters of gas and time that we could spend in some productive. IoT technology helps commuters to spend less time in traffic with real-time data about traffic conditions, road closures, and public transportation travel schedules in order to help the commuters get from one point to another in the most efficient and effective manner.
Improving Fleet Logistics- IoT technology can be employed to track shipments, optimize delivery and shipping routes, cut costs associated with inefficiencies in logistics- providing highly integrated and streamlined “Transportation and Warehouse Management Solutions” that connect in-vehicle sensors and other cohesive digital devices over the network. It can cover aspects of warehouse or inventories or vehicles or workforce within.
As the latest technologies keep on getting introduced in the transportation sector, the promise of IoT is enormous, and it has significantly progressed and is also now being used in a variety of ways. Transportation is beginning to rely more heavily on it. IoT technology in transportation is not only to increase efficiency but also to enhance it.