A major trend running through all of this is the enforcement of the Electronic Logging Device (ELD) mandate. Today ELDs are mandatory in every application where running time and compliance with HOS regulations must be recorded. This improvement in technology means that hours are more precisely recorded, safer for drivers and more conducive to compliance with the regulations.
Autonomous trucks can improve efficiency, reduce labor costs, and solve the problem of a lack of drivers. Although full autonomy remains in the testing stage, advances in collateral driver-assist technology are becoming commonplace occurrences.
Dynamic route optimization is rapidly becoming a common routine in freight trucking. Modern routing algorithms take such factors as real-time traffic conditions into account, or even weather forecasts. Dynamic route planning lowers transit times, fuel consumption and operating costs.
Electric and alternative-fuel vehicles are receiving more investment in the freight trucking industry. As sustainability becomes the focus, firms are considering electric trucks, natural gas vehicles and hydrogen-powered cars to green freight transportation.
In the wake of disruptions in supply chains, resilience planning is becoming more and more prevalent. Recognizing the importance of supply chain resilience, freight trucking companies are formulating strategies such as contingency planning and diversification of suppliers. The development of flexible logistics networks is feasible for dealing with unexpected events.
Report Attribute/Metric | Details |
---|---|
Market Opportunities | growing logistics industry rapid deployment of technology for delivery tracing customer convenience smooth transportation |
Market Dynamics | Growing construction, and oil & gas industry worldwide Growing international trade agreements between countries and organizations |
ยฉ 2024 Market Research Future ยฎ (Part of WantStats Reasearch And Media Pvt. Ltd.)