In recent years, the transportation industry has turned out to be a 2nd largest segment investing in advanced technologies like the Internet of Things (IoT). As per estimations around $78 billion has been spent so far, and further money will be invested in transportation domains. Hence, huge investments will transform the ways we see public transportation, logistics, geo-fencing, vehicle health, and fleet management in the coming time. So the question arises, how will IoT affect and influence the transportation industry? Read on for some IoT use cases in the transportation industry.
Real-time fleet management is something that many business leaders look for because it would help in making real-time business decisions and reap greater benefits. Some of the features that IoT provides for fleet management are GPS tracking, customized dashboards, and geo-fencing.
With GPS tracking, you can monitor and manage all assets, which will help improve safety and security. You will also be able to reply your vehicle’s route history, so you know exactly which driver has driven which vehicle. One can also track where it has traveled, and all of its rest stops. So, you will be able to relocate unused assets and improve your return on investment.
Many believe that public transportation is not as precise or as safe as it can be. This is one of the key things that can be helped by developing IoT in travel and transportation. As discussed in fleet management, it is possible to track which vehicle is where and what time it is scheduled to arrive. Also, it monitors how late it is running with the help of the internet of things public transportation.
Internet of things public transportation has also enabled re-routing features. So that if a vehicle cannot reach a place at the designated time, then people can make alternate arrangements. All in all, IoT in travel and transportation has not just made it safer, but also faster.
The impact of the IoT on transportation has allowed operations and logistics managers to receive information across the warehouse, distribution, and production center. Smart inventory management directly reduces the cost of inventory, improves predictive maintenance, reduces management errors providing sufficient data through IoT sensors and systems.
Maps often show the shorter route, but would you know if a route has been closed off due to some construction work or perhaps road repair? The impact of the IoT on transportation helps provide real-time updates on such issues. Not only that, but it also provides real-time traffic updates by integrating with the GPS system, which helps you deliver goods faster or reach your destination sooner.
IoT in transportation will also help to maintain the health of the vehicle, and this will happen with the help of onboard diagnostic ports (OBDs) that have been installed in cars. The better you can maintain your vehicle, the longer it can serve you. The world is moving towards autonomous vehicles, which makes maintaining vehicles all the more difficult.
By utilizing the IoT technology, you can monitor the vehicle’s health. Inspections can be scheduled in real-time whenever a problem occurs. So that the vehicle is not running when it is not in its best condition because that would lead to further damages.
If the problem occurs during transit, then alerts can be sent to the driver as well as the owners to ensure that no more issues occur. The driver could stop and seek help or at least take the vehicle to the nearest repair shop.
Geofencing can help determine if the vehicle is going off the designated route. A geofence is a virtual perimeter that can be configured for a real geographical area. For example, a geofence can be configured to prompt mobile notifications if a vehicle is entering an unauthorized area. It can also help trigger targeted messages, advertisements, disable certain technology, etc.
Geofencing can be used for smart inventory management, internet of things public transportation, securing some geographical areas from the general public.
IoT in transportation vehicles collect a ton of data and transmit them to centralized systems for greater analysis. IoT can definitely tell you, in real-time, when something has gone wrong with the vehicle. It can provide mobile alerts and notifications, as mentioned above.
But that’s not all! With the information that the IoT in transportation devices transmits, it is possible to predict the problem before it even occurs!
This helps companies and corporations develop effective business strategies, make smarter decisions, and manage risk better.
It is envisioned that self-driving vehicles will develop into a norm in the near future. Many metros are already self-driving. With IoT in transportation, it becomes easier to track these vehicles, monitor their health and make public transportation easier. Further it reduces the overall traffic; minimize accidents, use geo-fencing to make sure that these vehicles know where they are going and much more. All of these features already exist; it is only a matter of time before they are adapted for cars, buses and trucks.
In the logistics industry, it is a commonly known fact that drones have the highest potential to improve speed and efficiency. With business process automation, drones can help in smart inventory tracking, and transport goods faster and definitely solve last-mile delivery problems. Gartner estimates that the drone market would reach $11.2bn by 2020.
One not-so-talked about the application of IoT in transportation is the transformation of vehicle ownership. According to a study, car ownership is predicted to decrease by 80% before 2030. Consumers prefer using ride-sharing platforms such as Uber and Lyft. Mercedes parent company has partnered with Car2Go so that users can unlock vehicles and drive them within certain boundaries. This is not possible without the use of geofencing and vehicle tracking with the help of IoT in transportation.
Many business owners can benefit from IoT in transportation, especially if their business model requires logistics and inventory management. All it requires is the development of a mobile application that is integrated with the GPS tracking system.
The mobile application would be configured to provide features such as geofencing and message alert systems. An IoT mobile application development company can be hired to develop and integrate this app to help make better business decisions. It is the best way to beat the competition and make future proof decisions!
At Technostacks, we deliver dynamic and scalable IoT solutions with pioneering business models that lend a hand in boosting business productivity as well as brings in operational supremacy.
If you want to integrate IoT in your transportation business then you can inquire us or mail to firstname.lastname@example.org. We will give you the best assistance of IoT use cases for your transportation business.
The Internet of Things (IoT), which was once positioned as a niche technology for startups, is today a go-to technology for enterprises who desire to transform their future business. IoT has already altered the way both professionals work and common people live. However, there is a great deal ahead to explore on this scope. The global IoT market is predicted to be value $1.7 T at the end of 2019 and has a further perspective to generate $4 T to $11 T in financial benefit by the year 2025.
The key returns driver for 54 percent of enterprise IoT projects is savings on costs, and others include enhancements in productivity as well as on the whole work safety. It further lends a hand to understand consumer behavior and perk up their experiences. There are a number of ways in which IoT can benefit businesses. Here are the ways that IoT technologies could benefit your business, starting from customer services and experiences.
The sound customer service is a critical factor in making sure the profitability of any business. Advanced IoT technologies such as smart trackers and mobile card readers are used to enhance customer experiences. The mobile card readers can connect to smartphones to handle transactions smoothly, and smart trackers enable consumers to monitor their products, improving satisfaction levels.
Today, many enterprise companies utilize hyper-local advertising and couponing to provide customers a superior experience and meet their target requirements with IoT in business. IoT solutions can even be gripped by utility service providers to find issues and solve them with the use of smart meters and other smart grid technologies.
IoT opens the way to new business and revenue opportunities. It assists companies to benefit from modernized business models and solutions. IoT-driven modernization helps in creating powerful use cases, diminish time to market and amplify return on investments. IoT has the future to convert the ways businesses come within reach of the global audience by leveraging the scope of the IoT a step further to connectivity with IoT benefits for consumers.
The pursuit will be on to create the highly secure IoT solutions which have become a crucial step towards the revolution of most businesses. Industry specialists are focusing on managing the key security concerns around IoT related business solutions to boost the widespread adoption of this technology.
IoT devices can facilitate employers to make sure workforce safety and improve workplace security. Using embedded wearables and sensors, employees in high-risk settings like heavy industries, mining, and real-estate or construction can be constantly tracked and alerted against dangers. SMEs can make utilization of associated video surveillance cameras and smart locks to supervise office premises at all times and make sure the shield of significant assets.
Increasing productivity and competence is a direct way businesses can make sure profitability. IoT devices can be of assistance to manufacturing business sectors to precisely assess demands and resourcefully manage a variety of production stages by enabling real-time tracking of machinery parts and in-hand raw materials.
On the other hand, companies can also gather workforce data to measure their high productive time to arrange essential tasks and meetings. Smart devices can also get better with IoT in organizations enlightening their staff about approaching technical problems and having arranged remote troubleshooting in advance. They can even enable and automate day-to-day routine tasks like setting-up tea or coffee makers on timers to increase company-based process effectiveness.
Analyzing customer preferences and behavior is significant for the success of any industry or business. With IoT benefits in retail companies, it empowers them to fetch, track, monitor, and analyze data gathered from the internet, video surveillance, social media, and mobile usage. This scenario allocates needed insights to predict consumer preferences and upcoming business trends so that companies can consequently design products and offer personalized services for healthier engagement levels. With admittance to in-depth customer profiles, companies will be able to keep hold of their target consumers and cultivate brand loyalty.
Added advantages of IoT solutions can assist companies in cutting costs and sustaining business operations in a better way. These scenarios can be achieved when companies are constantly connected with an utmost number of smart devices through the internet so that IoT can back businesses to act smarter with instant operational insights while dipping the associated operating costs.
In manufacturing industries, IoT devices can be used to track equipment and reduce downtime by foreseeing future failures or probable errors on the in hand production line. Businesses can even save on overall energy expenditures and recover electrical efficiency by utilizing IoT solutions. Additionally, smart building systems can track, monitor and be in command of redundant usage of electrical systems.
Data is turning as the most effective weapon of different industries. Taking the instance of the automotive industry, it is prolonging more and more to take up IoT technologies to enable vehicles to impeccably collect and track data to interact with smart city solution. With these efforts, the automotive sector is transforming further in the direction of data-driven business models.
We can even observe the swing exclusively with OEMs (original equipment manufacturers) that are putting in momentous amounts of money in pioneering startups to analyze and apply data with IoT in different business segments.
Across all the industries, smart devices have turned resolutely more accepted. There will be a further rise in smart device applications in an extensive range of business areas supported by IoT including sectors such as healthcare, transportation, entertainment, hospitality, and education.
In the near future, IoT solutions are equipped to make consistent impacts in the domain of each and every business. With watchful tactics and strategies, adoption of IoT solutions can bring in better profitability and benefits for businesses.
IoT has reached the top of demanded expectations with reference to other emerging technologies. Even though IoT can deliver great prospective value, companies are needed to prevail over some noteworthy challenges like data and information management problems, lack of interlinked technologies and privacy concerns.
We will observe an increase in competition from big industry giants, which will include the list of AWS, Microsoft, and Google. They will dominate the market with large IoT platforms becoming the norm. These immense players will get hold of a bulky portion of the market and will go on with a boost in their footprint organization groups to scale the related technologies. While full-size IoT platforms will clash for market share, we will spot small and medium-sized players meeting up on niche as well as positioned areas to survive.
Above were the IoT benefits for businesses. The best way to move forward with IoT technologies, solutions and services is to hire a proficient IoT service provider. The hired company can enable you to enjoy the benefits of IoT services and can even overcome the challenges, thereby boosting your return on investment.
We at Technostacks, offer powerful IoT solutions with ground-breaking business models that help in progressing productivity and operational superiority while accomplishing high-efficiency business value.
In what might be the most apparent forecast of the decade, the IoT will prolong to get bigger in demand with more devices coming online in the year 2019. The healthcare, retail and supply chain industries will probably see the utmost growth.
Although technology leaders will push for IoT device standards and certifications, fragmentation will still lead to problems. It will be tough to deal with complex compatibility issues throughout the diverse industries and markets for IoT.
Securing connected devices with minimum regulation will be easier said than done. Discovering solutions to keep the data and information safe will be a key objective to meet in this year.
There will be a boost in number of companies beginning the utilization of IoT because of aggressive digital marketing and demand generation efforts seeing increase in personalized sales.
As the boost in data will push organizations to their competitive edge, IoT will also drive them towards machine learning and artificial intelligence (AI). Without a doubt, AI will also become inevitable, as the quantity of data produced by the IoT will be too bulky for humans to deal with.
There will be key inroads that would assist in building a powerful foundation for IoT in 2019. If you want to integrate IoT in your business then you can inquire us or mail to email@example.com. We will give you the best assistance of IoT use cases for your business.
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