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Will transportation business do well this year(2022)
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[QUOTE="Mellorando, post: 206685, member: 37973"] I definitely agree with you the transportation industry is definitely one of the fastest growing industry and for this year 2018 studies has it that, the global transportation industry is expected to grow at a rate of 3.4% through 2027. Although this is a positive outlook, growth in this sector is much less robust than pre-pandemic levels when predicted growth was close to 20%. There are numerous transportation services that are profitable, these services are based on interest, requirements, manpower and your know-how in the business and industry. There are numerous opportunities in this sector depending on the city or town. The future of transportation involves moving into new, smarter sources of energy, modes of transport and physical and technological infrastructure to support these transportation innovations. Three common themes in transportation innovation are: smart technology. electrification. Below are three changes that are sure to happen these 2022: 1. Transportation digitization Increasingly, companies are interested in the data showing how their drivers are doing. They want to know that people are safe and keep track of where they are. That interest is motivating companies to collect, analyze, and apply more telematics information from sensors within vehicles. The issue is that companies can have vehicles from more than one manufacturer, which means they have multiple data sets they need to extract and compare. This is leading to more digitization that allows the companies to connect vehicles into a single system. Digitization also connects to the broader use of autonomous vehicles. Although we’re not quite ready for pilot programs using the everyday cars most people drive, there will be an increase in those programs for mid-mile transportation, such as shuttles. Those will happen in large transportation corridors. With this push, companies will have to face major concerns related to autonomous vehicles, including how they’re going to be regulated and insured. 2. Supply chain disruption: Due to both the global energy crisis and COVID-19, there’s currently a shortage of silicon. Manufacturers use silicon to make not only the microchips in most vehicles but also other components like gaskets and sealants. So, manufacturers are struggling to build enough vehicles to meet demand. Customers are paying more and have fewer choices when they go to buy. Because the reasons behind the shortage are not easy to resolve quickly, the transportation industry will likely have to deal with supply chain disruption well into the coming year. 3. Increased focus on sustainable transportation: Over the past several years, increases in fires, storms, and other events have brought the climate crisis into greater light. As a result, shareholders of major companies are demanding that companies disclose climate risks and take on more responsibility for the influence they have on the environment. Investors and private equity firms are also asking companies what they plan to do to take care of the planet. Consumers are prioritizing sustainability and don’t want to be associated with environmentally irresponsible brands. Because companies are feeling this pressure from multiple directions, they’re going to focus more on environmental, social, and governance (ESG) standards. Within that, electric vehicles (EVs) are going to be a bigger part of companies’ overall ESG strategies. [/QUOTE]
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