A Look Ahead At The Future Of The Trucking Industry

Posted by Land Link Traffic Systems on Sep 9, 2020 11:59:28 AM

traft-autonomous-truck-2As we slowly emerge from the Corona Virus the industry is experiencing a myriad of changes. Over the past year, the trucking industry has had to react to unprecedented changes in operational and management procedure. Remote personnel present operational challenges. Customer service and sales staff have been reduced significantly. Most everyone in any trucking or logistics company has had to adapt to the new normal. So, what is the new normal today and what can we expect in the coming months and years. There have been numerous things that have impacted the manner in which the industry has functioned and there have been numerous elements that have changed the way work is received within this industry. Let’s examine some trends and try to make some predictions for 2021.

Improvement Of Technology

Technology has caused widespread improvements to a number of industries and the trucking industry is not exempt from this. Right from the corporate offices of trucking companies to the very trucks themselves, technology has been evolving and improving. Corporate offices are beginning to employ a number of software programs to help make their operations more efficient and streamlined. Trucks that are being used are now being equipped with far better technology than ever before, and more trucks are beginning to incorporate smart technology to improve the functionality of the vehicle. The concept of tracking an order is also something that has caused many trucking companies to have to set up technology that helps them keep track of the goods that are being carried about, and also because they have to convey this information to everyone in the supply chain. Lean and efficient operations will be the battle cry moving forward.

Higher Number of Mergers

While a large number of companies within this industry are going under as a result of the harsh market conditions, many companies are choosing to go down the alternative route and merge with other companies. Many trucking companies are likely to move in this direction in 2021 if the market doesn’t improve and if trucking companies don’t have any other alternative to turn to. When it comes to mergers, there are two main routes that trucking companies are likely to divulge into. The first one is to merge with an existing trucking company to be able to pool the resources together and withstand the market. This allows companies to continue their operations, and maybe even expand to newer territories. The second route that trucking companies can take is to merge with a company of a different sector to be able to expand the range of services that they can provide. This would then help them stay afloat until the market comes to a more favorable point.

Influence of E-commerce

Over the past few years, the e-commerce industry has grown tremendously, and we currently live in a world where people prefer to shop online than in-store. The wide variety available online as well as the fast fashion that comes with it has made this industry bloom and has helped it become one of the most successful industries today. However, it is important to note that the e-commerce industry cannot function without the help of the trucking industry. This industry is dependent on truckers to get their goods from one place to another, and this means that improvements in the e-commerce industry will lead to improvements within the trucking industry. Because the e-commerce industry is likely to grow further in 2021, one can be hopeful that the trucking industry also experiences some positive growth.

 Incorporation of Data Analytics

Data Analytics is an important tool that businesses around the world are looking to incorporate and is something that has helped boost the overall impact that businesses have. Many companies in the trucking industry have already realized the benefit of incorporating data analytics into the work that they do, and more companies are likely to follow in their footsteps in the coming year. In 2020, data analytics is not only going to be applied to the operational component, but also for the actual vehicles that are on the road. Several vehicles are being developed with technology that can send information to a source regarding the route and information regarding the operations that it is currently engaged him. This technology can help the trucking industry identify the areas that need development and also helps them understand the areas that they can improve on when it comes to making their operations more efficient.

All of these developments are likely to alter the manner in which the trucking industry is likely to function in 2021 and beyond.

Stay Safe Everyone.

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Michael Gaughan
Technology Officer
Land Link Traffic Systems

Topics: Intermodal Freight, Maximizing Routing Efficiencies, Logistics News