With COVID 19 posting a serious threat to mankind, almost every industry has taken a hit accounting for a much lower economy and yielding less revenue. Some of the industries have even closed their operations stranding their employees halfway down the river and increasing the number of job seekers. It is no different for the taxi industry as the same problems persisted and the companies were not able to meet their demands.
With the future of the transportation industry not so good, here are some services that could bail them out with their uniqueness:
These are the safest options in the current situation and even after the pandemic. By 2023, the self-driving car market is predicted to generate global revenue of up to USD173 billion.
As the name suggests, autonomous vehicles are independently operable vehicles without drivers and are a ‘go-to’ option for the customers who prefer safety over anything. They could be opted by the customers to travel from one place to another for trips, groceries, essential needs, etc. Already several restaurant and grocery delivery services have successfully developed and adopted these services for their customers which instills confidence and increases the credible factor among them.
Another important transportation is micro-mobility, which comes in the form of e-bikes, scooters, etc. This is considered to be important because they offer better time management compared to others. They are easily accessible in modern-day traffic congestions and help reach the destination within the expected time frame.
Most restaurants have opted for these delivery services since they offer faster food deliveries to their customers and they also act as an alternative to taxi services.
Ride-hailing might not be the trusted option under this pandemic, where safety is under the scanner. But they are considered to be the future of the transportation industry in the coming years. The global ride-hailing service market was valued at $36,450.0 million in 2017 and is projected to reach $126,521.2 million by 2025, registering a CAGR of 16.5% from 2018 to 2025. This might not be the exact data with COVID19 interruption, but definitely a successful market in the upcoming years. Rising fuel costs and traffic congestion paved way for these services and market stalwarts like Uber, Ola, Grab, Lyft, Didi, etc., have already found a successful outing with these services.
Smart mobility is a new concept where the future transportation industry could rely upon. Smart mobility is an intelligent transportation system that provides the benefit of connecting transportation with technology. Smart mobility also refers to the fact of reduced carbon footprints with electric vehicles ready to rule the transportation industry shortly with many ride-hailing and delivery services have already started adopting them.
Want to know more about what’s hidden in the box and how the transportation industry could evolve furthermore? Call us for expert advice.