Yesterday, IBM released it Global Truck 2020 study, titled “Transcending Turbulence.” It’s a compilation of interviews with 91 executives in 13 countries, representing the entire truck value chain, and the results show that trucks are becoming more fuel efficient, more eco-friendly, and safer thanks to new “smart systems” and other innovative technologies.
In fact, 71% of respondents said technology will be one of the most important external forces impacting the industry in 2020 –and they’re not just talking about technology limited to the trucks themselves. Researchers are currently developing telematics technology and other hi-tech devices (perhaps embedded in roads and traffic signals?)designed to increase the interaction and predictive analytical safety capabilities of transport carriers.
“IBM’s study shows the trucking industry is eager to transform itself,” said Sanjay Rishi, vice president and global automotive industry leader for IBM. “Increasingly fleet owners choose cleaner, more fuel efficient trucks that also have advanced systems to make transport more efficient.”
But, transformation doesn’t come easy to the truck industry. As you might expect, today’s elongated supply chains are having a profound impact on the sector, as well, and more than half (54%) of those surveyed identified globalization as another of the most important forces likely to impact the trucking industry in 2020.
Concerns about the environment, fuel efficiency, regulatory compliance and safety standards were high on the list of priorities, as well, and 48% of respondents said that sustainability will be one of the most important external forces in 2020.
As the report concludes, “These are unprecedented times for the truck industry –managing change across all dimensions is not a matter of choice… An industry that has long struggled with both image and recognition for its contributions to economic growth stands to transform itself. The promise is evident, the course unambiguous and the need unmistakable. Opportunity must not be lost; the time for reinvention is now.”
You can read more about what’s ahead for the truck industry by downloading the complete 22-page IBM study here.