Industry Insight
Challenges & Converging Technologies in Logistics & Transport RICHA TYAGI
Telematics Wire
T
he distance from digital to physical is shrinking day by day. The world is getting more connected. The world is virtually moving towards becoming a global village in most of the facets of human needs and transactions. Due to exponential developments in travel and communication, sharing of scientific and technological developments has revolutionized not only how we live and interact but has conjoined the world economies. Sharing of surplus goods, services and resources from one
habitat to another in a state or in a nation and lastly but not the least among the world nations is the core of this global village, thanks to continuously developing means of transportation and travel. The canvas of movement of goods and people is dotted with the number of mobility options. The prominent ones being shipping, railways, aeroplanes, and now drones, air taxis are slowly joining the fray. But, goods transportation and passenger mobility by road is still the most utilized option in world economy and same
goes for India too. According to Mordor Intelligence report, Transportation Industry in India Analysis of Growth, Trends and Forecast (2020 - 2025), transportation industry contributed roughly 6.3% of GDP and is majorly dominated by road sector. Whereas in many developed economies, transportation accounts for between 6% and 12% of the GDP. In addition, logistics costs can range between 6% and 25% of GDP. The government has recognized the seriousness of the development of this
March 2022 | Telematics Wire | 5
