Over the years, the trucking industry has witnessed some of the most dramatic changes in operations and innovations. Trucking operations and the truck types have also changed significantly. In this article we will discuss the trends transforming the trucking industry in detail. There are multiple factors and events that have impacted the industry in recent times. Now it's 2023, and the time has come to introspect the trends likely to emerge this year and how these changes will impact the trucking industry.
Here, we will discuss the most relevant trucking industry trends and how knowing these trends can make your trucking business more competitive. Please read this article to know everything about these trends.
#1 Technological Advancements:
Technological innovations have impacted many industries in recent years. The trucking sector is no exception. It has changed the corporate infrastructure of the truck rental services and the kinds of trucks. Technology has also impacted the freight and logistics operating protocols. Emerging technologies such as TMS have increased the operational and ordering transparency. With the help of this system, clients can track their orders at any time. Technological advancement is one of the most important trends that are transforming the trucking industry. Let's look at some of the dynamic innovations that have changed the ways of trucking operations.
- Many trucking companies have incorporated dynamic routing that helps fleet operators choose the fastest route and avoid traffic jams and congestions.
- Blockchain technologies and applications have improved the supply chain management and make it more efficient and consistent. The technology has also increased the operational transparency and kept all the parties well informed.
- The automated robotic process has completely replaced the traditional manual entries and frees the workforce to focus on more complex tasks.
- Powerful ERP software has also helped the trucking industry offices to improve their administrative tasks and streamline their workflow.
#2 Volatile Energy Prices:
The recent geopolitical turmoil, war, and supply chain bottleneck after Covid have had a profound impact on gas prices. The crude oil and CNG prices are all-time high and will continue to surge in the coming days. High energy prices resulted in high transportation costs. It has become one of the top trucking industry trends in the recent past. Most trucking companies are looking for energy-efficient trucks and heavy trucks to mitigate their transportation costs. In 2023 and beyond, truck rental services are expected to incorporate renewable energy-powered vehicles to improve cost management.
#3 Workforce Issues:
The trucking industry has been facing driver shortages before the start of the pandemic. The pandemic had made the situation worse than before. The driver shortages will continue to disrupt the trucking industry in the coming days. Trends that are transforming the trucking industry are optimal recruiting and effective onboarding processes. The trucking companies need to share more compassion and willingness to the driver wellness programs and benefits. You may develop and implement attractive group benefits programs and insurance coverages to attract skilled fleet operators and drivers. You may also hire an experienced talent acquisition firm to hire the right personnel at the right time.
#4 The Change In Pricing:
As competitiveness increases, truck companies lower their service charges to remain competitive. If the demand for hiring trucks continues to fall, the truck companies may further reduce their prices to keep themselves in the business. However, high gas prices remain a critical factor in future prices. The truck companies may have to adopt a dynamic pricing strategy for the short term and customize their services to improve operational efficiency. Pricing will remain a critical trucking industry trend in 2023 as well.
#5 Self-Driving Trucks:
The self-driving technology emerged a few years ago and is still under development. The researchers and transport experts are working hard to make this technology perfect. Newly developed self-driving trucks can efficiently overcome a wide range of obstacles while traveling on urban roads. The AI-powered self-navigating management system can be one of the emerging trends that are transforming the trucking industry. This technology can directly learn from the real drivers to make vehicle movement error-free. The self-driving trucks will also help trucking companies to plan their ordering schedule more efficiently.
#6 The Growing Influence Of E-Commerce:
One of the biggest trucking industry trends that have revolutionized the trucking industry is the emergence of e-commerce. The rise of e-commerce businesses has created challenges and opportunities for the trucking industry. On one hand, e-commerce boom has created more orders for the trucking services, on the other, it has created an additional burden on the trucking schedules. The truck operators need to be more efficient and innovative in dealing with the growing pressures from the ecommerce industry. The e-commerce business is entirely dependent on the efficiency of the trucking sector.
Hopefully, this article has helped you understand the trends that are transforming the trucking industry. Factors like regulation compliance, digital transformation, and in-time delivery have a profound impact on trucking companies. The emergence of drone delivery, robotics, and super-efficient supply chain management systems have created new challenges for trucking companies. In addition, global economic volatility has reduced the scope for ordinary trucking companies. Trucking companies must use comprehensive digital logistics platforms like Agg Connect to stay competitive in the coming years. And they should also watch out for these trends carefully before planning their next business moves.