Benefits of IoT for transportation sector
Business Enterprises and government have started applying from traffic to vehicle ownership. And now we can say IoT has poised to recreate transportation for smart cities and smarter world. Our lives are dependent on transportation. It helps us to go out for work and also encourages us to travel worldwide to explore things. But there are issues related to vehicle health, traffic congestion and vehicle ownership in the transportation sector. These issues can be sorted out by adopting IoT in transportation sector.
Benefits of IoT in transport Sector:
Maintenance Vehicle Health:
In the year 1996, onboard diagnostics ports(OBDs) have been installed in cars to help manufacturers and mechanics glean information about car’s health. Consumers have access to information now through devices such as Automatic adapter, which is plugged into OBD port to monitor engines health along with the abundance of other capabilities(like tracking our car to its parking spot.) This helps in reducing cost for maintenance of the vehicle. This type of technology for businesses that work in this industry. Companies with fleets of vehicles spend millions of dollars in extraneous cost when their vehicles breakdown. With IoT companies can easily manage the performance of their fleet no matter where they are and can catch issues before any error occurs. Fuel Consumption and idle time are other factors beyond vehicle which can be optimized by companies.
Curbing traffic congestion:
No one likes traffic congestion as it causes irritation, millions of gallons of gas from vehicles is wasted and obstructs us to reach our destination. IoT has the complete opportunity to avoid this annoyance in our society. Car manufacturing companies are diving into IoT as well. They are developing technology that can ease stress of drivers in traffic places. Ford has well known technology known as traffic jam assist which is a mode that allows cars to match their speeds of the car that is ahead of it. Not only it does speed matching but also smoothens out traffic flow and decreases congestion patterns.
Changing the meaning of vehicle ownership:
One of the significant benefits of IoT in transportation is around vehicle ownership. In city areas, people are selling either not purchasing cars. They are opting to use ride-sharing platforms like Ola and Uber, in addition, to rely on steadily improving public transportation services. Ride sharing has become cost-competitive with the aggregate of cost car ownership. One day soon such post-ownership transportation models might tip the scales for good.
Improvement in fleet logistics:
Fleet managers simply manage vehicles. IoT can help them going extra mile. Multiple IoT technologies are employed to track shipments, optimize delivery and cut costs associated with inefficiencies in logistics. Incorporating data from weather advisories and road closure memorandums can help operations run smoothly.
Transportation will very soon rely completely on IoT. Any company working within the industry will soon learn that incorporating IoT into their business is best way to beat the competition and future proof of company.