Transportation Market Trends

According to research, the global transportation industry is predicted to grow at a CAGR of 3.4% through 2027. (Reaching a value of $7.8 trillion by 2027.)

Across many sectors in the transportation industry (including logistics, rail, trucking, infrastructure, and passenger vehicles) there are emerging trends in technology and micro-mobility that will change the way we know the transportation industry. In this article, we dive into five trends that will shape the future of transportation.

Electric Vehicles

The emergence of electric vehicles can be attributed to advances in battery technology. First, advances in battery composition reduced the production cost of batteries, which has increased consumer access. Second, additional advancements in battery technology also resulted in more efficient batteries with extended range, which has reduced consumer range anxiety. Electric vehicles will continue to see accelerated market adoption as they become more affordable to the consumer and offer extended battery ranges. Electric vehicle charging infrastructure is also poised for massive growth in the next ten years as projects are supported by government initiatives globally.

5G

5G plays a critical role in autonomous driving advancements by effectively communicating real-time data back and forth with the command center (V2C), with the infrastructure (V2I), with other vehicles (V2V), and with everything else (V2X) on the road in autonomous driving applications. These critical application requirements are satisfied with the low latency, high-speed data transactions supported by 5G. By providing faster data transactions, 5G helps support the proliferation of connected vehicles (CV) and passenger entertainment and comfort features.

Autonomous Driving

As the industry advances vehicle autonomy, there is a requirement for high-precision location sensors to ensure real-time vehicle safety operating in a dynamic environment. To facilitate vehicle autonomy, connected vehicles (CV) generate huge amounts of data as they interact with command centers (V2C), other vehicles (V2V), infrastructure (V2I), and everything else (V2X) around them, including pedestrians, to co-exist and facilitate safe autonomous driving on the roads. Increased availability of the 5G network is integral to supporting the proliferation of autonomous vehicles as technology supports further advancements in levels of driving automation with low latency, high data transfer capabilities.

Passenger Comfort Features

In-cabin features focused on passenger entertainment and comfort will show significant growth driven by consumer demand and supported by the faster upload and download speeds provided by the 5G network. This will enable passengers to stream music or videos, browse the internet, stream ultra-HD videos, or do other high data volume tasks with minimal interruptions due to latency. In-cabin applications will proliferate outside the traditional automotive applications as manufacturers look to improve and increase the passenger comfort features in buses, ferries, planes, and trains.

Vehicle Connectivity

Connectivity plays a vital role in facilitating autonomous driving and telematics-based fleet management, as well as proliferating passenger comfort and entertainment features. Connected vehicles help autonomous driving features by transmitting and receiving data from the vehicle and the surrounding environment. Connected vehicles also facilitate passenger comfort and entertainment features by providing passengers access to the 5G network.

Powering Transportation Technology

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Transportation Market