IoT

How is IoT Opening the Doors to New Opportunities for the Transportation and Logistics Sector?

Publish Date: September 7, 2022

Increasing the Competence of the Transportation and Logistics Sector with IoT!

Container shipping moves 95% of all manufactured goods at some point during their shipping lifecycle according to Wall Street Journal report. Trucking enjoys a whopping 35% of a lion’s share in the transportation of goods. From the point they begin their journey at a warehouse to the time they reach the customer, these goods encounter several variables that can be detrimental to their safety. Enhanced management and delivery, driven by the need to constantly keep track of your human and non-human assets have become invaluable.

“The import and export of goods making up about three-quarters of the world’s gross domestic product, coupled with the demand for urban mobility, is expected to grow 2.6 times by 2050”, according to reports. The transportation and logistics industry has been, therefore, forced to rethink the way it operates to keep pace with the demands of a global, connected economy.

This has given rise to a new league of intelligent transportation systems (ITS) leveraging the benefits of IoT and AI that support new models for intelligent, connected transportation. IoT, especially, focuses on the success of four main anchors of the transportation and logistics sector; Communication systems, Vehicle tracking, Supply chain monitoring, and IT security. IoT can bolster these systems and their constituents, with seamless connectivity, visibility, and uncompromising security. How? From enabling warehouse automation to giving insights that define operations through the real-time fleet, asset tracking, and safety management, IoT means timely, secure delivery for your driver and customers.

As per reports, IoT in transportation is expected to surpass the USD 300 billion mark by 2023! Experts project even better prospects for IoT in logistics in the next decade.

Reports suggest the contribution of logistics in IoT to reach nearly USD 2 trillion, out of the approximately USD 7-8 trillion that IoT will generate worldwide.

But what’s driving this growth? As a proven expert in the space, YASH Technologies examines the role of IoT in the transportation and logistics sector.

Applications of IoT in Transportation and Logistics

More than 50% of logistics businesses now have adopted IoT bringing into play a connected ecosystem that pools together RFID, GIS, communication, middleware innovation, and more. This not only helps mitigate failure and wastage but also helps in better planning.

Let’s look at some of IoT’s applications in transportation and logistics.

The introduction of GPS revolutionized the transportation sector. But IoT takes vehicle tracking to the next level. Usually, the freight segment uses IoT for better fleet management. Additionally, it helps companies monitor driver behavior and collect data concerning their driving style and idling time.

1. Live Vehicle Tracking

The scope usually involves fleet tracking, trip scheduling, vehicle load monitoring, driving time, driver’s rest duration, alerts for over-speeding, rash overtaking, etc.

2. Connected Cars

Intelligent Transportation System aims to enhance and make roads and driving even safer and connected. Many automobile makers have already addressed the basics of embedding internet connectivity, actuators, and sensors in their vehicles. The internet enables drivers to monitor tire pressure, brakes, engines, etc.

But IoT can raise the standards of traffic connectivity and driving safety. Connected cars will use in-vehicle networks, cameras, and radars to detect and communicate with each other. These applications can help smoothen traffic flow, and avoid collisions, thus making driving safer than ever.

3. Toll Plaza Management

The time spent on toll plazas offsets the impact of seamless transits superhighways provide. The use of RFID tags has streamlined toll traffic significantly.

However, vehicles equipped with IoT technology can help toll stations detect a car while it is up to a kilometer away. The sensor can correctly identify the car, deduct the toll cost automatically and lift the boom barrier.

But what about old vehicles? In the latter’s case, the system can deduct the toll price automatically from the person’s digital wallet on their smartphone.

4. Warehouse Management

Warehouses have been conventionally managed for years. Manual inaccuracies, obsolete systems, and traditional instinct-based decision-making can affect the company’s competence in the long run.

IoT helps companies increase their competence and better manage their warehouses. It helps track inventory data, vehicles, and equipment. Consequently, real-time data enables companies to know the current warehouse situation. IoT-powered digital transformation can further allow warehouses to share critical insights across the cloud.

Reduced human intervention and leveraging data to make decisions can revolutionize warehousing in the future.

Embrace IoT-Powered Transport and Logistics with YASH Technologies!

YASH is a trusted IoT partner for companies across industries. We craft IoT architecture that serves your business and the domain in its entirety.

Our IoT solutions for the transport sector focus on multiple parameters. It involves managing fleets effectively, gathering and analyzing data to make informed decisions, and improving connectedness. We help reduce manual intervention and resolve conventional challenges to enhance customer service.

In addition, our IoT solutions can help companies identify cost-saving opportunities and increase their bottom lines without compromising service quality. Click here to explore our IoT proposition and connect with us to know how our IoT solutions can positively impact your road to Intelligent Transport System.