With digital proliferation, companies in the transport business have been compelled to assess the market space and identify the major commercial transportation trends. Transportation companies are devising strategies to embrace innovation and advanced technology to customize product offerings according to the consumer preferences. By integrating its business processes with the emerging commercial transportation trends such as automated fleet management, big data analytics and market intelligence, and advanced telematics such as predictive networks, robotic process automation, and autonomous vehicle technology, the transport companies can achieve flexibility and build capabilities to focus on the most profitable segment and cater to their target market. The benefit of identifying the commercial transportation trends and embracing innovation is that the companies can stay abreast of their competitors and expand their market share by offering an extensive product and service line.
Let’s have a look at the commercial transportation trends that are set to disrupt the transportation and logistics industry in 2017.
Top Four Commercial Transportation Trends
Emerging trends in the commercial transportation sector have coerced companies to develop modern data networks, build flexible and customer responsive models, enable transparent shipment tracking, and offer end-to-end delivery schedules. Commercial transportation companies have been diffident about adopting the emerging industry trends due to the absence of a digital infrastructure, security, and cost concerns. However, these four evolving commercial transportation trends are set to positively impact the organization’s bottom line and improve operational efficiency, which are as follows:
- Self-Driving Vehicles – Advancements in technology has given birth to driverless vehicle software, which aims at redesigning the existing fleet with self-navigating equipment and sensors. The self-driving or autonomous vehicles embedded with advanced technology enable the vehicle to determine road conditions, collect data, and communicate with other trucks connected over the cloud
- Real-Time Data – By leveraging big data analytics and advanced telematics, the transportation companies can track and monitor the vehicle location and condition, and leverage the sensors to estimate freight, available space, best possible route, and estimated delivery time
- Robotic Process Automation – The transportation companies can leverage advanced robotics and process automation to drive mobility, increase operational efficiency, and identify appropriate locations for pick-up and delivery. By integrating advanced robotics within the organizational processes, transportation companies can minimize labor costs and speed up the delivery process
- Predictive analytics – The transport companies can leverage big data analytics and data mining tools to improve their bottom-line by leveraging customer and shipment information. The insights gained through predictive analytics tools can be leveraged to identify consumer trends, market developments, utilize this grass-root level information to tailor their product offerings, and devise effective marketing strategies and promotional campaigns
View our latest case study on how organizations are leveraging the commercial transportation trends to gain a competitive advantage and expand their revenue streams.
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