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Benefits of IoT in Transportation Industry
Internet of Things (IoT) is the technology that allows machine such as sensors and computers to exchange data over the cloud without human intervention. Transportation industry sees immense potential in the technology to automate the processes as communication between machines makes data collection seamless and enables robust decision making.
Integrating IoT in fleet management system would provide businesses information in real-time enabling them to make timely decisions and deploy their assets accordingly. The adoption of new age technology will lead to improvements in operational efficiency, cost-management, fuel consumption, response to accidents and regulatory compliance.
Real-time vehicle tracking is something that developers have always strived to achieve to best possible. IoT holds the potential to raise the efficiency of real-time tracking and predict the arrival time of vehicles in real-time. IoT is powering public transit system by eradicating the challenges and has enabled re-routing features for better arrangements.
Smart Inventory Management System
IoT sensors such as weight sensor, acoustic sensor, photo sensors, and various others provide high-quality depth data that enables smart inventory management system by sharing data in real-time. Data shared through IoT sensors help warehouses, distribution centers, and production units to get better insights of demand and supply in real-time which allow them to manage the inventory cost-effectively. Integrating artificial intelligence in the inventory management system would result in predictive maintenance and automation.
Asset Utilization and Tracking
Asset utilization and tracking are essential in the transportation industry and IoT is leveraging the same. Organizations would be easily able to track their vehicles, monitor routes, delays, and permitted weight, helping them to easily maintain the regulatory compliance as well. Asset data will leverage its optimal utilization, predicting asset lifecycle, and asset health as a result cost can be efficiently spent on asset management and maintenance.
Geo-Fencing and Drones
Geo-fencing is the advance model of GPS tracking. The technology alerts organization in case of route deviation, reducing the chances of accidental loss and late deliveries. Also, the increase in transparency and accountability has made IoT in transportation more cost-effective and reliable. The geo-fencing feature would soon result in the advent of drones in the transportation industry.