The carrier industry plays a crucial role in supporting commerce and public mobility. And, like in every other industry, technology, regulations, and economics are constantly evolving in this domain too.
To be ahead requires staying informed about the latest innovations and developments. In this article, we will explore the crucial technology trends that may drive this industry and facilitate further business growth.
Blockchain Technology
Imagine a digital record book that is not maintained by a single central computer. Here, it has updated copies on every computer in the network. Here, every block is linked to the preceding one, forming a chain of blocks. In simpler terms, each block is like a data structure, linked to the previous node.
Now, when a change has to be initiated, it has to be approved by the majority of computers, before it is applied. This makes tampering with data impossible. This is precisely what blockchain technology represents.
Such a system is highly secure and transparent because each node plays an active role in the circulation and updation of information. Each block contains a collection of relevant details, called metadata. These include the creation time, node number, node or block creator, and information about the previous block.
It is no hidden secret that advancements in the Internet of Things (IoT) and Internet of Vehicles (IoV) will cause a significant surge in data volumes. In this context, blockchain can serve as a powerful tool for decentralized distributed storage and security management.
In fleet management, every detail about the vehicles, like temperature and location details, can be tracked in real-time. Moreover, blockchains facilitate “smart contracts.” These are self-executing agreements that automate payouts based on preset conditions. Managers can set algorithms so that these payments can be used for tolls, maintenance, and parking.
Advanced Transport Management Systems (TMS)
The lack of transparency in fleet operations and improper use of resources are some of the serious issues plaguing transport companies. Every delay results in missed deadlines and unhappy clients.
A carrier transportation management software solution can be the saving grace. It works like a central hub, managing the inflow and outflow of relevant information without delays and changes. For this, a TMS uses an interplay of synchronized cameras, sensors, and data transmission systems.
In addition to dynamic traffic flow and route information, these systems can also offer insights into the driver (and their habits).
Moreover, according to Super Dispatch, this centralized hub is also fed every detail concerning each vehicle in the fleet. As a result, the fleet manager can match the appropriate truck to the correct assignment. Say, for example, there is an urgent need to transport medication between states. TMS can easily locate a nearby temperature-controlled truck for the job.
Additionally, such a system plays a huge role in improving fuel efficiency and saving on maintenance costs. It keeps the managers up to date on when a truck is due for a tune-up and can predict future repair needs based on the truck’s general maintenance history. This technology is now an integral part of the AI-driven management tools for any commercial fleet.
Self-Driving Trucks
Self-driving trucks, as the name suggests, operate autonomously. They deploy a complex mix of sensors, radars, and artificial intelligence (AI) to navigate on the roads. Many transportation companies are warming up to these trucks to address a plethora of issues. These include driver shortages, safety concerns, and high operational costs.
The aim is to develop a fleet of vehicles that can overcome all types of terrain while indulging in real-time monitoring. This advancement in autonomous trucking technology is touted to result in:
- increased Internet of Things (IoT) integration,
- regulatory reforms, and
- a hybrid model of human and autonomous transportation in the future.
Most of these trucks use Level 2 autonomy. This threshold incorporates in-depth data analysis and advanced driver assistance technologies.
On-Demand Trucking and Shipping
In the transportation sector, on-demand shipping and trucking are becoming increasingly popular. It enables companies and customers to obtain what they require at the appropriate time.
On-demand trucking is leveraging a vehicle to deliver your cargo without scheduling it in advance. Shippers can connect with truckers who have available capacity through a load-matching platform.
There are several benefits for carriers. There are multiple platforms available for covering the cost of the delivered shipment. An app for on-demand trucking can provide a cost estimate for shipping. Additionally, scheduling a shipment using an app is hassle-free and convenient.
For truck drivers, an on-demand trucking app is a great thing. That means they will always be paid. They’ll be able to find more work thanks to other drivers’ recommendations and ratings.
The transportation industry is progressively integrating technologies such as blockchain, 3D printing, and advanced analytics as it undergoes significant transformations.
For instance, 3D printing can alter the administration of spare parts, which enables production on demand. These technologies are contributing to the trucking industry’s future by making it more environmentally favorable, safer, and more efficient.
The innovations and trends in transportation that are discussed in this blog post merely scratch the surface. Successfully integrating emerging technologies and new opportunities into your business operations contributes to the attainment of a competitive edge.
