Life has turned out to be super easy with all the gadgets into the palm of our hands in the shape of smartphones. Likewise, it is relaxing to have all sorts of electronic gadgets around us that are going smart with the advent of technology. The refrigerators can now regulate temperature conditions keeping the food fresh; televisions can accept, interpret and carry out human voice commands and lights, air conditioners and even fans that are linked to the home smart thermostat. Even cities being planned and designed to match up with all that electronic smartness, smart transportation only seems to be a likely necessity.
The global smart transportation market is run on the basis of advanced services and solutions provided to the vehicle users during their commute. Overpopulation and urbanization in no future ceasing to grow and rash drivers are not in dearth on this planet; you’ll find them around every other bend, waiting to ram their cars into yours. The system of smart transportation not only promises to help us reach our destinations on time amidst all that crazy traffic through integrated live information on road situations but also secures our safety all through the ride.
Moreover, with the growing automotive industry, the vehicle number on the road is also quickly accelerating. This further fuels the need for efficiency in traffic management and accident prevention. Furthermore, it is only by piping down all that commotion and confusion can smart city plan and scheme takes off properly.
Read the report published by Inkwood Research on “Global Smart Transportation market“
Smart transportation runs as one of the prerequisites for smart city development. Smart city plan comes in as a package demanding not only efficient, fully furnished, comfortable lodging with necessary markets, but also, a properly functioning and smooth connectivity via road, both inside the city as well as with other cities.
The solutions and services of smart transportation integrate tools, fancy devices, complicated software, human tech-support as well as streaming of live information. Smart transportation jazzes up the very use of roadways by connecting passengers with the system management operators. Through one of the most significant solutions of the system, the Passenger Information System (PIS), the real-time road situation is communicated to all the drivers using smart transportation.
Challenges and the Road Ahead
Although increasing urbanization and growth in smart cities worldwide, enhance the global smart transportation market, yet there exist certain limitations that restrict the growth of this system. The labor force required to operate the system may not be properly skilled or be aware of the use of such latest technology. Since most of the system runs entirely on a wireless basis, there are the threats of attack on the cyber platform. Additionally, given it is a completely new industry, the costs incurred by the operating companies have not yet been optimized, thus, the existing high costs. What’s more is the cost of training the personnel to rope their share of work efficiently.
Nevertheless, opportunities for expansion and growth remain plenty for the market. Just like the smart city plan helps in expanding the smart transportation market, the latter in turn is much appreciated for its efficiency in bringing together the entire idea of a smart, well-planned city. Without the skillful management of connectivity via roads and that of buzzing, nauseating, never-ending traffic, the local governing bodies might have been more than a little troubled in implementing the Smart City scheme. Smart Transportation is like the ribbon that holds together the present that a smart city is to humankind.
Author: Clive Cooper
Senior Digital Marketing Manager at Inkwood Research