With the roads getting busier by the day, accidents are bound to happen. With insurance companies having to foot the bill for such accidents, they are looking to cut down the cost of accidents by using technology to prevent such accidents from taking place in the first place.
If there is technology available to send real-time data of every single vehicle on the road, imagine the impact that it would have on the number of truck accidents that happen? As it would happen, we are very close to that day when this becomes a reality.
Safety features with automation built in are slowly becoming the norm for trucks on the highways like auto-braking for instance. With real-time data streaming, this will help to drastically reduce accidents and costs associated with such accidents.
There are around 3.5 million truckers on the highways of America alone, with over 10.5 billion tons of freight being transported all across the country with revenues reaching over 700 billion, making this a gargantuan industry that is still expanding. But there are huge costs associated with trucking that results in the driver’s wages not having parity with workers of other industries. The industry in the United States is also highly regulated due to safety being the main concern.
The trucking industry is one of the most difficult industries in the United States with around one out of every six workers in America killed while working on the job is a trucker. Whilst trucking companies must bear the costs of procuring and maintaining equipment, the insurance companies’ cost also increases with increasing accident rates.
Top retail giants with a huge reliance on the trucking industry have started introducing new technology in their trucks to make their fleet smarter and accessible anytime from whatever location they are …