The Key Drivers of Innovation
The innovation and technical progress experienced in the transportation industry is driven by speed and efficiency, market size and structures, and strategy formulation.
Speed and efficiency
The need to have fast delivery of supplies to cities and towns and from farmlands to urban centers facilitated innovation in railway and railcars. Initially, innovation in the transport industry was due to economies of scale. With the intention of sustaining themselves, towns and cities sought modes of transport that could obtain supplies from regions beyond those known to produce food supplies. On the other hand, farmers were looking for modes of transport that could increase picking up of supplies from farms and hence facilitate …show more content…
At the same time, smartphones will be synchronizing travel plans and transport agencies will be monitoring and controlling traffic through technology. Some of these innovations are already underway as some cities in the U.S. are already controlling traffic using smartphones and other technology. Within the next ten years, the U.S. and the world should be witnessing initial stages of fully automated transportation. Most of the vehicles, aircrafts, ships and rail services will be driverless and automated. In the airline industry, most of the security points will be automated and the physical check-in desks removed. Furthermore, all stakeholders in transportation including the government, customers, investors and other key players will be working together to improve user experience and enhance operator efficiency.
In summary, innovation is a key component of the transportation industry that plays a critical role in facilitating the transformation of ideas into new products and processes in the transport system. Innovative capacity in the transportation industry plays a central and decisive role on the nature and other relevant aspects of the transportation industry. Both the public and private sector are actively involved in the transport industry innovations. Considering the current state of the industry, it is highly likely that more innovations will be witnessed in the near
The innovation and technical progress experienced in the transportation industry is driven by speed and efficiency, market size and structures, and strategy formulation.
Speed and efficiency
The need to have fast delivery of supplies to cities and towns and from farmlands to urban centers facilitated innovation in railway and railcars. Initially, innovation in the transport industry was due to economies of scale. With the intention of sustaining themselves, towns and cities sought modes of transport that could obtain supplies from regions beyond those known to produce food supplies. On the other hand, farmers were looking for modes of transport that could increase picking up of supplies from farms and hence facilitate …show more content…
At the same time, smartphones will be synchronizing travel plans and transport agencies will be monitoring and controlling traffic through technology. Some of these innovations are already underway as some cities in the U.S. are already controlling traffic using smartphones and other technology. Within the next ten years, the U.S. and the world should be witnessing initial stages of fully automated transportation. Most of the vehicles, aircrafts, ships and rail services will be driverless and automated. In the airline industry, most of the security points will be automated and the physical check-in desks removed. Furthermore, all stakeholders in transportation including the government, customers, investors and other key players will be working together to improve user experience and enhance operator efficiency.
In summary, innovation is a key component of the transportation industry that plays a critical role in facilitating the transformation of ideas into new products and processes in the transport system. Innovative capacity in the transportation industry plays a central and decisive role on the nature and other relevant aspects of the transportation industry. Both the public and private sector are actively involved in the transport industry innovations. Considering the current state of the industry, it is highly likely that more innovations will be witnessed in the near