Blog: Traffic & Transport Technology Trends 2024 - Data & Collaboration Drive Innovation
For years traffic and transportation technology has been transforming the society. With the rapid pace of innovation comes new trends and exciting technologies that will take traffic and transportation into the future. Fintraffic's view about future traffic is seen in our Traffic 2030 Vision, in our goal to create the world’s safest and smoothest and lowest emissions traffic in Finland together with our partners. This blog post lists my personal view on TOP 10+1 technology trends that will shape the year 2024 of traffic and transportation.
Trend #1: Alternative fuel technology development accelerates transition to green
•During year 2023 transportation companies piloted alternative fuels and during 2024, we will be seeing increasing transition to alternative fuel technologies, also in heavy logistics and in all modes of transport.
•Sustainability remains a central theme in the industry. Logistics & transportation companies are expected to embrace greener practices, leading to increased investment in electric (EVs), hybrid, hydrogen-powered (HVS), and bio-fuel (HVO) vehicles.
•Proof points:
•The number of battery-powered electric vehicles globally increased almost tenfold from 1.2 to 11.3 million between 2016 and 2021. Source: Statista
•During the past 3 years, the average CO2 emissions of private cars in Finland have dropped from 123g/km to 64g/km – largely due to transition to electric vehicles and improved energy efficiency. Source: Traficom
Trend #2: Intelligent, connected vehicles and infrastructure advance
•Vehicle-to-Anything (V2X) is a communication model that uses wireless connectivity for a two-way exchange of information between a vehicles and smart traffic systems with sensors, including traffic signals, stop signs, or road infrastructure.
•Enabled by 5G technology, V2I could help your drivers with on-time performance by communicating with traffic lights to improve the flow of traffic. It can also notify drivers about collisions, traffic jams, and bad road conditions, as well as the nearby presence of cyclists or pedestrians. The data collected from V2X communication can be used for route optimization, improving fleet performance, minimizing fuel usage, and developing sustainable practices.
•Intelligent vehicles use sensors, LIDAR, and automated safety features to navigate roads and other fairways. They deploy camera technology to read signs and see them in high resolution. AI algorithms recognize objects, guiding the vehicles on how to perceive their environment. Autonomous vehicles increase safety and reduce harmful emissions.
•Proof points:
•Automotive Vehicle-to-Everything (V2X) Market size was valued at USD 2.3 Bn in 2021, registering a CAGR of 39.6% during the forecast period (2023-2030), and the market is projected to be worth USD 46.3 Bn by 2030. Source: Market Research Community
Trend #3: Urbanization and Digital solutions drive move to public transport
•Urbanized areas are now home to more than half the world's population. Projections show that urbanization, combined with overall population growth, will add another billion people to the urban population by 2030.
•Increased costs of fuel, changes in mobility trends and improved digital mobility solutions drive move to public transport. New solutions like Fintraffic Mobile bring the information into passengers’ fingertips.
•Proof Points:
•The public transport is having its all time records in number of trips made in Finland. Source: Yle
Trend #4: Open ecosystems thrive and drive standardization
•Open ecosystems promote diversity, customization, and broad collaboration, leading to more choices and potentially lower prices. They also encourage innovation and experimentation by allowing developers to access and modify the underlying technologies.
•Over the coming years, renewing traffic will, above all, be about making much better use of all kinds of standardized and interoperable traffic-related data. In order to create the strongest possible foundation for a sustainable transport system and enable the breakthrough of new traffic services and solutions, data must flow smoothly between routes, vehicles, different modes of transport, service providers and end users.
•Proof points:
•Open Traffic Data Ecosystem with more than 200 participant organizations and other open ecosystems drive innovation to the industry in Finland.
Trend #5: Data and AI revolution continues
•Digitalisation makes it possible to use intelligent traffic services that we cannot yet even imagine. At the same time, the way in which people move is changing: instead of owning means of transport, people are now more willing to buy mobility services. The sharing economy is empowered also from this change.
•Intelligent traffic control is largely based on having a real-time overview of traffic. Data-based services offer the opportunity to combine different modes of transport into travel chains. They also allow for autonomous vehicles and novel modes of transport.
•AI is also being used in traffic management systems to optimize traffic flow and reduce congestion. By analyzing real-time traffic data, AI algorithms can adjust traffic signals and reroute vehicles to less congested roads, reducing travel time and fuel consumption. We believe that we are only at the beginning of this development.
•Proof Points:
•The data economy creates a value of hundreds of millions of euros in the transport data economy in Finland. Source: Fintraffic
•Waymo Expands Testing of Driverless Cars on Phoenix Freeways. Source: Circuit
Trend #6: Variety of last mile logistics solutions increase
•In today's fast-paced and digitally driven world, last-mile delivery has become a critical component of the supply chain. It refers to the final leg of the delivery process, where goods are transported from a distribution center or local hub to the end customer's doorstep.
•The evolution of automation technology during the last decade has seen great progress and opened the door for numerous innovative business applications in last mile logistics. More specifically, automated goods delivery is forecasted to provide a reasonable answer for up to 80 percent of all Business-to-Customers (B2C) deliveries (Grolms, 2019).
•Drones bring a level of efficiency that is unparalleled in traditional last-mile delivery methods. With the ability to take direct routes and avoid traffic bottlenecks, drones optimize delivery routes, reducing the time and energy spent on each delivery
•Proof points:
•The Finnish capital is at the vanguard of seeking innovative ways to incorporate drones and air mobility into everyday urban life. Source: Good News from Finland
•Emission-free delivery robot trialled in Helsinki. Source: Good News from Finland
Trend #7: Move to multimodal traffic management advances
•Multimodality will be a game changer in the future! Traffic modes should no longer be treated as silos but rather handled jointly, as an overall traffic system. In the future, traffic needs to be controlled multimodally on the land, in the air and at sea.
•Multimodal traffic management accelerates smart traffic and logistics, as well as creates new jobs, new services, and competitiveness.
•A key component for multimodality is to standardize to scale quickly and efficiently. Also, data standardization is an important component for success.
•Intelligent traffic control and management services, up-to-date real-time traffic information and the competence of the ecosystem involved improve the safety and smoothness of traffic and help reduce emissions.
•Proof points:
•Read the White Paper: Vision for Multimodal Traffic Management and Control
Trend #8: Increased need for Combating Cyber Criminals
•Cybersecurity refers to a state in which the cyber operating environment can be trusted to by secure. Cybersecurity risks are dynamic in nature. This means that vulnerabilities are often exploited in various ways, and they can quickly jeopardize cybersecurity.
•Protection requires stakeholders to have up-to-date awareness of direct and indirect cybersecurity threats. The constantly changing threat environment encourages organizations to take a proactive approach to cybersecurity. Cybersecurity is a must in the development of the transportation system and should be promoted alongside other necessary aspects.
•Proof points:
•Ransomware attacks targeting Finnish organizations have increased four-fold since Finland country began the process of joining NATO in 2022. Source: The Record
Trend #9: Digital Twins emerge for traffic
•Digital Twin technology offers the potential of a new strategic paradigm in traffic management. A digital twin of a physical roadway along with a mathematical model layer raises the decision-making capability bar to the next level by enabling modeling, simulation, testing, and validation in real-time.
•It will aggregate real-time data feeds and events, which provide information on the traffic state of the physical roadway, fusing various sources of information into one comprehensive view. This allows the model to use a variety of analytical, simulation, and AI tools to deliver measurable traffic predictions and forecasts.
•Proof points:
•Digital Twin Victoria is a record $37.4 million investment in digital twin technology and spatial innovation over four years. Source: Digital Twin Victoria
Trend #10: Vision Zero advances due to new technologies in vehicles and traffic management
•The Vision Zero initiative is a strategy aimed at eliminating all traffic fatalities and severe injuries, while increasing safe, healthy, equitable mobility for all, continues to be a driving force in shaping transportation policies. In 2024, technology, regulation and data driven strategies contribute to Vision Zero goals.
•Advanced Driver Assistance Systems (ADAS) are becoming more sophisticated, reducing the likelihood of accidents and enhancing road safety. Predictive analytics enable authorities and manufacturers to anticipate safety risks, analyzing historical data, weather conditions, and real-time traffic patterns to implement proactive preventive measures.
•Proof points:
•In Finland, year 2023 was record safe in road traffic. Source: Liikenneturva
Trend #11: Regulation driving decarbonization drives digital solutions
•The trend of Decarbonization is the movement towards reducing the amount of carbon dioxide (CO2) and carbon dioxide equivalents (CO2e) in the atmosphere. This involves burning less and burning clean to reach carbon neutrality, as well as actively removing existing CO2e in the environment to become carbon negative.
•Regulation has been driving decarbonization in transport by setting emission standards, incentivizing low-carbon technologies, and promoting behavioral changes among transport users.
•Proof Points:
•Virtual Arrival is capable of reducing CO2 emissions by up to 24% per voyage and lowering shipping companies' costs by 20%. Source: Siili
•Driving decarbonization: Accelerating zero-emission freight transport. Source: McKinsey
