Start-up companies could reshape the trucking world

Connected vehicles and services will be a game changer.
Connected vehicles and services will be a game changer.

A new study by global consulting firm Frost & Sullivan indicates that a growing variety of start-up ventures are fomenting broad change in the global trucking industry – altering everything from how trucks operate, including driving themselves, to how freight shipments are booked, paid for, and moved.

In the firm’s report, entitled, Start-ups Disrupting Global Connected Truck Market 2016-2017 Kar said there is a “huge upside for improvement [in trucking] for it is not the most optimized industry – there are so many moving parts moving at sub-optimal speeds.”

He added that consumers and shippers today are being “born into reality called Amazon” where the low-cost yet extremely speedy delivery of all manner of goods is now an everyday expectation.

“That’s why these start-ups are moving the needle and driving the innovation,” he pointed out. “They are here to drive efficiencies, drive opportunities to lower TCO [total cost of operations], enhance safety, and to increase revenue potential for [industry] stakeholders.”

Driver shortage will be a big problem going forward as an aging qualified over the road group of drivers are nearing retirement and looking to get off of the road. Having a supply of qualified and capable driver force to call upon will be difficult due to regulations and the training and qualifications required to get into the commercial trucking business.

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Author: newventureinsurancecom

D. Dwain Ammons is a multi-state licensed senior commercial lines insurance broker in North Carolina. With a specialty in commercial auto and truck insurance. With 30 years experience, be certain that you will receive the best services possible.