The Transportation Market expects a significant transformation due to cutting-edge new technologies’ introduction. If one goes with the hype of recent years, cities will soon have endless electric vehicles.
While some of these events are moving further into the future, others seem more significant and likely to happen.
Continue reading about five disruptive trends in the transportation sector to observe in the upcoming years and decades.
Increase in Electric Vehicles
One of the important trends gaining attention in the transportation industry is the rise of electric cars. As concerns over climate change and air pollution continue to grow, many consumers are looking for more environmentally friendly transportation choices.
Automakers are spending a lot of money on EV technology in return, and many are launching new models while expanding their EV lineups.
Sales increased significantly in 2021 despite an unfavourable climate for the global automotive industry. The stats approve that this rapid growth will continue as governments worldwide expand their regulatory support for EV adoption.
Increasing Demand for Alternative Fuel Buses
Environmental concerns also attract more nations to switch from diesel and gasoline-powered buses to electric and hybrid buses.
The electric and hybrid buses market might grow faster than any fuel type through 2026. Hybrid and electric vehicles have several significant advantages over conventional cars. It includes:
- Greater fuel efficiency
- Lower operating costs
- Lower maintenance requirements
- Assistance from numerous international government programs.
Autonomous Vehicles Get a Reality Check
World pronounced Autonomous vehicles (Avs) as the next disruptive technology. It will bring changes in the world, but recent news is not welcome. It’s time to admit self-driving cars aren’t going to happen.
Market experts anticipate tighter regulations for AVs in the future. Automobile manufacturers may concentrate on initiatives that deliver a more consistent ROI in a challenging market climate.
It Will Be Decades Before Autonomous Trucking
Creating complete autonomous trucks solves the driver shortage issue. It lowers the cost of long and regional haul operations. It enables a continuous flow of goods.
According to the report Market Potential for Level 4 Autonomous Trucks in the United States, Frost & Sullivan analysts think autonomous trucks “are sure to transform the trucking industry, but the time and place still remain in question.”
Although the income potential for autonomous trucks is enormous, the trucking industry is still decades away from adopting this revolutionary technology.
Developing Last-Mile Delivery Robots
Additionally, last-mile delivery robots are now a new technical answer to the problems of rising transportation costs, environmental pollution, and labour shortages.
Researchers have built delivery robot prototypes that ascend and descend steps and move at 12 mph. Scout, an autonomous delivery vehicle that Amazon began testing in 2019, was put on hold in 2022 due to slower sales growth caused by the pandemic.
According to the Autonomous Last Mile Delivery report by Global Industry Analysts, the global market for autonomous last-mile delivery robots was approximately $1 billion in 2020. It projects to reach $3.3 billion by 2027, increasing at a CAGR of 18.2%.
Future Directions for the Transportation Sector
The transportation sector is changing significantly due to several long- and short-term technological advancements. Businesses will be in a better position. They will thrive in this dynamic and quickly changing market if they can adapt to these trends and foresee upcoming changes.