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  • Wednesday, September, 2021| Today's Market | Current Time: 03:19:09
  • Modern age living, also referred to as smart living, is characterized by rapid rise in urbanization. According to statistics by UNICEF, an estimated 70% of the world population will be living in cities by 2050. Urban dwellers have been living a life of convenience and comfort, thanks to the advent of smart transportation, buildings, homes, and cities. Digitization has been the driving force behind major changes in civilization.

    However, with expanding city limits and urban population, transportation systems are forced to battle against poor highway designs, vehicular congestion, and disorganized public transport. Dearth of competent road designs and inefficient urban planning can often result in additional time and expense on commute, road accidents, and limited productivity. These factors can threaten the economic growth of any country. As a result, issues of public safety and management require careful consideration, especially when conventional systems need to be replaced.

    The concept of Internet of things (IoT) has been a boon in times like these, with numerous ways in which it has already transformed the working of various industries. IoT, along with big data and massive capital investments, is altering the functioning of the transport industry, making futuristic transport not just a mere concept but today’s reality.

    Image Source: www.grandviewresearch.com

     

    Fast-paced digitization, easy access to the Internet, and innovative concepts such as big data are enabling the incorporation of advanced smart transportation systems such as intelligent transportation system (ITS). These systems find application in traffic management, road safety and security, freight management (commercial), public transport, environment protection, automotive telematics, parking management, and road user charging. Grand View Research indicates that the market for ITS will hold immense promise across major cities of the world.

    Ubiquitous Internet connectivity has been a blessing to the transportation sector, by allowing easy and effective implementation of several disruptive trends such as smart traffic lights, remote sensors, autonomous cars/driverless cars, and multi-mode transportation.

    With companies and governments pouring in investments worth billions of dollars to bring in constant technological advancements, smart transportation is set to take over conventional methods of commute in the years to come.

    Key Features of Smart Transportation

    Companies involved in transforming the transportation sector through smart vehicles and solutions are looking to make various modes of travel more consumer-centric. Aspects such as innovation, convenience, payment, and safety are being focused on.

    Here are some of the key features that smart transportation offers:

    Ubiquitous Connectivity: Open data is a crucial component of smart transportation. It allows linking various modes of transportation to different mobile applications, thereby enabling access to transport services and solutions in the vicinity. Programs such as Citimapper and Google Maps are examples that offer consumers detailed information on the go.

    Minimized Vehicle Dependency: Smart transportation modes offer consumers the comfort of a personal vehicle but at the price of public transport. Uber, Zipcar, and other wireless mobility solutions cater to consumer demand for comfort, choice, safety, and control.

    Better Pricing; Convenient Payment: Physical transport infrastructure often limits price wars in rail, road, and air mobility, resulting in higher travel expenditures for consumers. However, with the introduction of Internet booking, competition within the transport industry is at its peak, resulting in more cost-effective travel options. Widespread adoption of mobile technology and penetration of IoT enables easy access to high-speed data services as well as numerous options for digital payment.

    Telematics and Sensors: Thanks to the penetration of the Internet of Things, transportation services have been significantly reimagined. By using smartphones as mobility sensors, we can better understand the flow and capacity of transport as well as passengers in a public realm.

    Image Source: www.grandviewresearch.com

    Focus on Innovation in Mobility

    Intelligent transportation systems are crucial to planning and designing smart cities. Connected traffic lights, vehicles, toll-booths, and highways are fast becoming the symbol of the future of the transportation sector. Companies such as Alstom, SA, General Electric Company (GE), International Business Machine (IBM) Corporation, Accenture PLC, and Cisco System, Inc., along with steady support from various government organizations, are focused on mobility innovation to enable price sensibility and added user control. Integration is key for anyone looking to merge smart cities with the aid of smart transportation.

    Experts believe that smart living, overall, has significant long-term social and economic benefits. On the one hand, smart transportation results in minimized traffic congestion and logistical hassles and improves job opportunities and productivity. On the other, it is proving to be a smart investment option for developing as well as developed economies, most of which have been battling issues with urban planning and management.

    Author Bio:

    Rutuja Jathar is a writer and editor with 9+ years of work experience. Currently leading a team of technical writers at Grand View Research, her passion for words and technology reflects in her contribution to developing and editing research information. She has also written numerous industry blogs and news features as a guest author. When not writing, she likes to stay informed about technological innovations and disruptions across all walks of life.