India’s expanding user space enhanced digital connectivity, infrastructural modifications and changes in government regulations have brought everyone from Ikea and Walmart to Amazon.
According to Largest.org, India
contains the second-largest situation globally regarding the road network with
3,481,725 miles. Moreover, it is India’s quickest growing infrastructure area
with a 5.9% CAGR. According to the NHAI (National Highways Authority of India),
the roads carry about 65% freight and 80% passenger traffic.
And trucks are the attached part of the freight, aren’t they? Some of the trucks are used for small transport and the rest used for heavy transport. Ashok Leyland truck is perfect for heavy transport because Ashok Leyland truck price is very reasonable to the customers. So let’s have a look at the truck business in India.
Truck Industry’s Future in India
As per a study report, the Indian truck business stood at $8 billion in 2017, and it is assumed to grow to $16 billion in 2023 due to improving infrastructure and construction development projects.
According to another report, by 2026, Hinduja Group, Volvo Eicher, TATA and Daimler are the major players in the Indian trucking business. However, if we analyze startups in the Indian trucking business, they are driven by funding that is not easy to get. Lacking funds, low scale, and lower margins regularly make operations unsustainable.
It means that old players with goodwill, more significant market share, and substantial cash piles have a more excellent opportunity to leverage technology. Software Advice gives a complete list of companies providing ready to use software for transport management systems.
However, it’s a tremendous job to shortlist a distinct commercial-off-the-shelf solution (COTS). It could be highly accessible for trucking companies to hire a software advising and development partner to get keys generated per their demands.
Truck Business’ Challenges in India
The trucking industry is among the most growing sectors in the world. But still, it has many challenges to solve.
- The whole business runs principally on trust,
as most firms provide shipment tracking facilities to customers.
- Owners with just 1-5 vehicles together value three-fourths of the total quantity of trucks in India. Moreover, it results in poor assistance quality as several players are playing only at the price point.
- The driving situations offer little help as
Indian roadways aren’t safe for driving globally. As a result, those who don’t have any option rarely consider hauling a shipping carrier as a job.
- The truck operators get less pay than the taxi drivers of Uber. However, according to a Business Today report, cab
drivers earn triple their analogs engaged in the Trucking market.
- The lack of truck drivers has increased every year. According to an official survey, some 2.3 million carriers (27% of
total transport vehicles) continue idle every day because no one is
willing to drive them.
5 Best Technology to Empower the
Trucking Industry
1. Rivigo
Driver Relay: Switching drivers every few hundred kilometers to enable them to return to their places within 24 hrs
Highlights
- Anti-collision
- GPS-enabled freight management
- IoT combination for real-time data collecting
of engine oil temperature, fuel, RPM, brake oil pressure
- Data analytics for predictive support and mileage enhancement
2. BlackBuck
It’s an Uber-like platform combining Truckers and clients. The platform streamlines businesses using intelligent auction mediums and smartphones.
Highlights
- Intelligent Auction Engine
- GPS-enabled shipping management
- Track and trace means for customers
- Mobile app supporting six regional language
3. The Porter
Highlights
- GPS-enabled freight management
- Track and trace facility for customers
- Transparent Pricing
- Offers APIs to SMEs
4. Truckola
Highlights
- Data and predictive analytics to enable
businesses with better supply-demand clarity, lower shipping costs, and
higher utilization of carriers
- Track and trace facility for customers
- GPS-enabled freight management
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