With the entry of the latest advances in the transportation industry, the current going time has been remarkable. All the newest technology advancements bring new hope and contribute towards shaping the taxi businesses. Now that we are in the modern era, booking a taxi ride within seconds is possible. Therefore, all the companies involved in the taxi sector should leverage new technologies to produce futuristic modes of transportation or quality taxi services. This is a necessary step to take to remain competitive in the taxi industry.
According to the recent reports, the USA taxi market will showcase 30% growth over the next five years. In 2021, the market is expected to generate 3 billion USD in revenue. At this time, a minimum of 10 million ride-hailing trips are made worldwide, and the number is predicted to reach 80 million by 2030.
Future Transportation Modes That Will Impact the Taxi Industry
The transportation sector will acquire new, more innovative sources of energy, future means of transport, and physical and technological infrastructure. Modern technology, electrification, and autonomy are three prevalent topics in transportation innovation. Given the rapid growth of these technologies in recent years, we may expect them to all play a significant role in our transportation future.
SELF DRIVING OR AUTONOMOUS VEHICLES
While the future of the transportation sector is unwritten, there is still something that our leaders promise – the origin of autonomous driving. Autonomous cars with the sensing feature will be capable of judging the environment without human efforts. Just like classic cars, self-driving cars can also go anywhere. There is no need for humans to take control of the vehicle at any time.
Behind the operation of self-driving cars, sensors, complex algorithms, ML systems, and powerful processors, they all work. Based on various sensors incorporated inside, autonomous cars automatically map the nearby surroundings.
Thanks to the dedicated taxi dispatch software that makes it possible for self-driving cars to process the sensory input, send instructions to the actuators and ensure smooth steering. Some of the benefits of self-driving vehicles are
- Minimize traffic blockage
- Cut down operating costs
- Lowers the emission of Urban Carbon Dioxide
We are in the era where the transport industry has now become more convenient to customers. Flying Taxis could be the next future means of transport that will surely make a significant impact on this industry. The example of major brands – Uber, Airbus, and Toyota- are investing millions of dollars to make vehicles take off and land at a specific place. The origin of Air Taxis will surely change the way transportation businesses run along with an array of advantages for passengers.
Electric air taxis will come in various shapes and look different from conventional fixed-wing aircraft. Takeoff and landing taxis are specially crafted to minimize the need for long runways. In addition, companies are looking forward to launching taxis with rotating wings and the one that looks like cars, to help in taking the travel experience to the next level.
CONVERTIBLE CAB CUM STORE
In the future, ride-sharing vehicles would be able to transform into new structures. In addition to flexibility, there would be an expansion in the essential dimension of cabs. The company Toyota has come up with an idea how taxis can be changed from the typical taxi to Cab cum store for the selling of any products. Organizations are now bringing incredible changes to make cabs convertible in the forthcoming future.
The future says that ride-sharing cars will possess the ability to amplify their versatility and functionality. For example, a convertible cab cum store concept will transform the regular cabs into delivery vans that also sell merchandise. Plus, there is also modification to the seats inside vans, and they are more convertible.
Well, the future of the taxi or transportation industry is welcoming because of a few technological advancements like
The automotive industry is taking steps in making a vast investment for a bright future. Now the companies are focusing more on Artificial Intelligence to get the most out of self-driving technology. By leveraging the potential of AI, they want to introduce autonomous vehicles and bring a transformation in the transportation industry.
The AI-powered pickup and delivery app will allow passengers to have reliable travel journeys, experience secure payment options, and get everything done via a smartphone. As a result, people living in urban areas will become more intelligent than before, and traffic management is seamless. This further helps enhance the accessibility for travelers.
GPS (Global Positioning System)
It’s a well-heard term in the digital age, and one is well aware of GPS and its functionality. However, you can find a significant difference between the latest GPS systems and old ones. Those days are over when GPS-based devices are used to calculate the estimated time of the final destination. But now, the systems can do more than that. The latest GPS devices can better plan any trip and have made the public transportation system smarter and hassle-free.
People are now less reliant on transportation modes that provide a lack of safety and raise the difficulty for the regular commuters. For safe, secure, and affordable transportation, most companies have started serving transportation services via a SaaS-based platform. Such a solution helps eliminate the issues related to crowd traffic on roads. Moreover, it’s an entirely safe platform, especially for women and employees. They can have a fast and secure taxi service and reach the destination on time.
There are now more convenient traveling options for regular travelers that make them feel safe throughout the journey. Because of the immense popularity of modern automobiles, usability has increased, and it will grow even in the coming years. It is predicted that more than 50% of vehicles will be produced by the end of 2030 that use combustion engines, hybrid technology, and electric power to operate. With this, it is clear that there will be a significant reduction in Greenhouse gas emissions.
INTELLIGENT TRANSPORT SYSTEMS (ITS)
Nowadays, there is the massive popularity of the ITS, and its usage is making a significant difference in the transportation industry. Such systems include Information and Communication technology to make the management of transportation easy.
The essential sections inside the system are real-time and smart parking management, automated speed feature, rider information system, and many more on the list. All these additions inside the system have made transportation more organized than before.
The transportation sector keeps revolutionizing with the latest modes, trends, and technologies. Now that taxis have become an integral part of human life, many means of transportation will take place in the future for more convenience. Whether one is going shopping or the workplace, the advanced technologies and modes will help improve the lifestyle.
The future modes of transportation and latest advancements in transportation will change the way people travel. The current time is the start of leveraging advanced technologies in transportation to drive a promising future.