By Ashok Vashist
Until a few years ago, commuting had several challenges: boarding overcrowded buses, manually searching for an auto on the road, negotiating a fair price, etc. However, today, commutation has transformed immensely, enabling us to book a ride digitally and travel with comfort. Moreover, features like live GPS tracking, predicting accurate ETAs, Maps integration for traffic analysis, online payment systems, etc., have enhanced our experiences, all thanks to technology. Bringing about a paradigm shift in the way we commute, technological advancements are now leveraged to manage and improve the current transportation systems, paving the way for smarter mobility solutions.
Tech integration for smarter mobility
If we do a cost-wise analysis, technology costs only 2% of overall mobility but delivers a significant output of 98%. This indicates its vital role in the overall experience delivery in the mobility sector. Efficient operations in the market stand on the core pillars of maximizing utilization, minimizing costs, and providing superior user service experiences. Tech integration can be integral to achieving these goals for smarter mobility.
Let’s delve into some of the widely used tech tools that are bolstering the mobility sector’s growth and will be vital in shaping its future:
Efficient and AI-based routing and rostering software
Be it employee transportation or public commute, an efficient transport model cannot be designed without proper routing and rostering software. Today, AI is utilized for route optimization, which ensures minimal commute time and excellent fuel economy. Moreover, it gives real-time information on the vehicle’s location, allowing company managers to verify that drivers are not taking needless breaks or deviating from the usual routes.
Enabled by AI, route optimization software helps with automated route mapping, live vehicle tracking, fuel reduction improvement strategies, and accurate data to maximize vehicle efficiency and ensure timely commute. Hence, various mobility solution providers are adopting such advanced tools to streamline and improve the commutes of millions of people. The global route optimization software market is projected to be valued at $12,416 million by 2030. The technology’s capability to reduce trip time and consider variables like time limits, traffic circumstances, and weather concerns while automating route mapping will lead to a surge in demand for such solutions. It is expected that the combination of AI and ML with cloud data will elevate the route mapping game in the future.
Intelligent Transportation Systems (ITS)
Intelligent Transportation Systems (ITS) encompass the application of new-age technologies in road transport, including infrastructure, vehicles, and users, to ensure traffic and mobility management. It works with both hardware solutions, including IoT devices like roadside units, sensors, detection cameras, traffic lights, and toll booths, and software that enables advanced traffic management, vehicle-to-everything communication, advanced traffic planning and simulations, and data analytics. Implementing ITS involves installing sensors and cameras on street lights, traffic lights, and road signs and using data analytics to monitor traffic flow, manage congestion, and improve safety. The process revolves around dynamic message signs, variable speed limits, and adaptive traffic signal control systems to optimize traffic flow and reduce travel time. The ITS market is projected to grow at 7.1% CAGR from 2023 to 2028 and touch the $67.2 billion mark, indicating the demand for such advanced technologies will spike in the coming years to cater to the rising need for efficient, secure, and sustainable transport solutions.
Connected Vehicles
Connected vehicle technology enables vehicles to communicate with each other and with infrastructure (V2X communication), providing real-time information about traffic conditions, hazards, and roadway networks. This helps drivers make informed decisions, enhances safety, and reduces congestion. Connected vehicles send and receive communication alerts in several ways, including vehicle to vehicle, vehicle to infrastructure, vehicle to pedestrian, and vehicle to everything.
It is believed that 5G will be pivotal in shaping the landscape of future mobility. Paving the way for network improvements, it will provide assistance in improving driver safety, comfort, and efficiency. Increased data speed, reduced latency, and quick reaction times enabled by 5G will enable real-time communication between vehicles, infrastructure, and an ever-increasing number of connected devices in the near future.
Community commute
These services help reduce the number of private vehicles on the road, decrease traffic congestion, and lower emissions. For the passengers, this concept is advantageous as it is time saving and cost effective. While this model was prevalent in pre-pandemic times, the mobility players had to discontinue this practice owing to the Covid-19 guidelines. However, with the situation turning to normalcy, community commute is expected to gain momentum in the coming times which will be instrumental in transforming the future of the mobility sector.
Mobility as a Service (MaaS)
By providing a comprehensive range of transportation services, MaaS promotes sustainable mobility and reduces reliance on private car ownership. MaaS platforms harness the potential of data and information to combine different transport modes and services, for instance, public transport, shared mobility services, rail services, and parking facilities, are integrated with planning, booking, payment, and customer-service processes. Municipalities, transport companies, technology startups, and payment companies are investing in this solution because of the significant advantages it offers for both passengers and the region. Passengers have transparency in terms of travel options and pricing, and easy accessibility of commute options available on smartphones. The locations benefit as traffic flows are optimized and transport systems are improvized, which further leads to incentivizing environmentally friendly alternatives.
By the end of this year, the MaaS market is projected to reach a valuation of $185.6 billion. The pressing need for easy, on-demand mobility solutions, the increasing trend of sustainability and environmental awareness, and rapid tech advancements in 5G, AI, and IoT will be the primary factors driving the market’s growth. Hence, we will witness increased usage of MaaS platforms to deliver advanced, real-time services that will further improve overall user experiences, keep pace with the ever-evolving mobility market, and create a more responsive and adaptable environment.
Electric Vehicles (EVs) and charging infrastructure
The EV transition, supported by the rapid development of charging infrastructure, is contributing to creating cleaner and more sustainable transportation systems. Until now, electric vehicles have relied heavily on wired charging solutions. However, tech upgrades have enabled wireless and fast charging in the sector, which will be pivotal in making EVs all the more convenient, cost-effective, and appealing for transportation. Such advancements will help alleviate range anxiety and enable us to reach one step closer to the goal of achieving electric mobility. China and South Korea have already started adopting this innovation. We will see more OEMs deploying technology for wireless charging in the coming months.
Moreover, we will see a burgeoning demand for electric autonomous vehicles (AV-Es) in the future. With this growing trend, we anticipate that the future of mobility will appear all the more progressive and sustainable than ever. Driven by technological advancements, these innovative vehicles will combine the features of both electric vehicles and autonomous technology and promise to be more eco-friendly and efficient than ICE vehicles. They will increase safety by reducing human error, which is the reason for 94% of collisions and less traffic congestion, leading to a faster commute.
Conclusion
The mobility sector is transforming significantly, backed by tech innovations. Whether it is AI-powered route optimization, ITS, connected vehicles, or EVs, the industry is utilizing such technological advancements to tackle challenges like traffic jams, long commute times, high levels of noise, rising pollution, and environmental concerns. With the increasing need for smarter, more efficient transportation systems, we will see further advancements in our commutation experiences in the coming times. As a result, the future of the mobility industry and transportation will be powered by and driven by technology and will promise more convenient, cost-efficient, time-saving, and environmentally conscious travel experiences.
The author is founder and CEO, WtiCabs.
(Disclaimer: Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited).
