Top 5 Mobility Industry Trends & Innovations
What are the top 5 mobility industry trends and innovations? CEO Ram Tumuluri says, “The future of transportation is at a crossroads. Growing environmental movements have focused attention on emissions issues and electric vehicles. And in the meantime, the digital disruption caused by ridesharing services has led many consumers to question whether they still need to own a car.”
While the auto industry is expected to recover in 2022, the longer-term outlook for OEMs is less optimistic—unless they embrace the latest innovations. Continue reading to learn about the important mobility trends driving change in this industry as we speed towards a very different future of mobility.
Autonomous driving technology has long been regarded as one of the most promising areas of the mobility industry and continues to expand. This top mobility trend aims to reduce human negligence and errors in order to create safer roads. With advanced driver assistance systems (ADAS), comprehensive AI algorithms are now taking over the task of driving, propelling the industry towards level-5 autonomous vehicles (AVs).
Internet of Things (IoT)
Vehicles communicate with a central hub and with one another via cellular, WiFi, and satellite communications. Previously, IoT was primarily used for entertainment and convenience, but the focus has recently shifted to maintenance and safety functions. IoT connectivity facilitates the tracking of vehicular data for a variety of applications such as insurance, driver safety, predictive maintenance, and fleet management. Sharing vehicular data has an impact on the entire mobility ecosystem, not just individual customers.
The incorporation of multiple modes of transportation into a single mobility service represents a user-centric approach to mobility. Startups are developing a variety of mobility-as-a-service solutions to accomplish this. Customers use a single payment channel rather than multiple ticketing and payment operations, which allows for greater convenience and efficiency in planning. MaaS also introduces new business models for operating various modes of transportation, reducing congestion and removing capacity constraints.
Micromobility is gaining popularity around the world due to its convenience and environmental benefits. It is an effective strategy for reducing vehicular glasshouse gas (GHG) emissions and increasing access to affordable transportation. Micromobility solutions are also energy-efficient and don’t rely on fossil fuels.
Bicycles, which are commonly used for urban commuting, can also help with the first and last-mile commute and delivery challenges. However, because e-bikes are lighter and faster than bicycles, they are much more appealing for city dwellers to switch to a more convenient mode of daily commuting.
Smart infrastructure is widely recognised as a key component of smart cities. It includes not only smart roads, IoT, and automated parking, but also all of the various roadside signals and signs that provide information to drivers and AVs. AI-powered driving systems use a variety of advanced sensors to understand their surroundings and make data-driven decisions.