Transportation is the key to unlock the movement of finished goods, assets, and raw materials. Digitalization is making its way with better opportunities for the transportation sector. With the help of smart IoT concepts, the fleet managers are availing huge benefits while keeping a real-time check on the products. Different IoT solutions have been designed to cater to multiple segments in the transport industry. For example, to monitor the conditions of the cargos, a cargo monitoring solution; to conduct safe oil transportation, a fuel/oil theft solution; to make the trade documentation easy, a smart contract solution; etc.
The transportation sector caters to the demands of every industry, whether it’s agricultural, mining, hospitality, or any other. Also, implementing technologies like the Internet of Things with the fleet businesses would not only improve the functioning but also assist the managers in analyzing the best decisions for the industry.
Why IoT is a Better Technology to Implement with Transportation?
+ IoT Brings Better Business Opportunities
The advancement in technology offers a great step ahead for the transportation industry. It promotes both international as well as national trade with enhanced efficiency. In these many years, the global IoT market has grown at a CAGR of almost 17%. Industries are adopting smart IoT methods to increase their operability and reduce costs. At every layer of the transportation industry, IoT has improved communication, quality control, data distribution, which strongly impacts the delivery services. With the increase in technological aspects, business opportunities have also grown. Different IoT applications like vehicle personalization, driver safety, and real-time tracking of the transported goods have significantly brought a revolution in the way transportation worked. It is now better, safer, and economic for every person at the supplier’s as well as the consumer’s end.
+ IoT Ensures Driver Safety
In the transportation sector, truck drivers are likely to face huge risks more than average drivers. Also, professional drivers are 9 times more likely to get injured during the transit than the average ones. Thus, the authorities need to focus more on taking necessary measures to ensure driver safety. Using a GPS fleet tracking system or adopting smart transportation for your business helps predict the risk possibilities for you to make better decisions.
Many smart applications like vehicle maintenance, environmental condition monitoring, or the live status of the roads, are IoT-powered to inform the drivers about the situation and avoid any mishap. For instance, heavy trucks need both space and time to run on roads and it is very difficult for the drivers to change the route in case of traffic jams. Using an IoT solution, the drivers can quickly re-route to clearer ways, which also does not impact the delivery time.
+ IoT Improves the Communication Network
Communication is one of the most important factors required while moving goods from one place to another. The managers need to stay connected with the drivers to monitor their activities and check-up on the product delivery schedule. Using an internet-based system, it becomes easier to keep a regular check up on the drivers and also record their daily average status for appreciation. Fleet management is quicker and more effective with the help of digital technologies like IoT. It provides the exact position of the truck in the fleet and predicts the arrival estimation. Real-time predictions and geo-spatial analysis help you understand the entire supply chain for value-based outcomes. Furthermore, it anticipates the effects of transportation delays in every segment and alerts the authorities to take the required actions. Using IoT with your transportation business is a great idea to keep yourself connected to the drivers and experience an improved communication network.
+ Efficient railroad network
Effectively by the end of 2023, the smart railways market is estimated to reach $56.18 billion globally. It is a significant 10.2% increase, which is reflecting the worldwide acceptance of IoT in the rail mode of transportation. Freight operations are maximizing with the increase in consumer demands and IoT is playing a critical role in bringing productivity along with efficiency. Managers can collect real-time data of engine functioning, temperature, noise, track vibrations, and flag statuses with the help of sensors, thus preventing accidents. Moreover, sensors can regulate the train's speed according to the external factors like wind direction, weather, and driver's behaviour. All these functions help automate the train schedules, contribute to proper management, increase the service deliveries, utilize the resources effectively, optimize the services delays, and improve profitability. Implementing IoT concepts with the railroad network boost the productivity of the transportation sector and opens up a new track to deliver the goods in a faster, effective, and manageable way.
The transportation industry is raising its bars by accepting smart IoT techniques to conduct the trading business. IoT uses connected assets to collect data and there are huge advantages of connected transportation along with immense business returns. The autonomous trucking and other automated vehicles have gained huge efficiency in utilizing the fuel with a proper supply management system. The connected logistics promote real-time tracking of the product deliveries and in-time scheduling of the supply chain, resulting in reduced inventory costs and warehousing space. If you own a transportation business and are still using the traditional ways of handling the trading process, you need to explore the benefits of IoT and what it can do to increase the ROI. Also, implementing and managing an IoT-based system is a much better step to get valuable results in feasible costs.