siliconindia | | October 202119provide service level, cost and visibility across the cargo and related industry.· Visibility: Complete visibility of shipment tracking across the complete value chain starting from the consignee to the logistics partners across each node.· Geolocation Capability: Tracking and usage of Maps, GPS, and IoT Technology to provide real time tracking of shipments physically present in an area or across a defined area (Geo Coding) conducting various transactions.· Improved Safety Using Technology: Based upon sensors and data analytics companies can figure-out safe routes, less damages, and driver behavior analysis across the route.· Route Optimization: Optimize complete route to reduce overall cost and avoid roadblocks, thus resulting in mini-mum time to travel.· Digitization of Documents by means of E-Waybill, EDI, POD, E Copy, Challan and others. · Transparency in Payment & Billing: To reduce cash han-dling, speed-up overall cash payment cycle and make it more efficient and automated.· Vehicle Space Utilization: Selection of appropriate capac-ity vehicle based upon route volume, destination points, and optimum utilization of space across the route.· Electric Vehicles: The Indian Electric Vehicle market was valued at $5 billion in 2020, and it is expected to reach $47 billion by 2026. Currently, the major market is towards two-wheelers and passenger segment. However, there has been a significant traction in EV for Cargo, especially in Last Mile, which will ultimately lead to Electrification of LH and larger commercial sized vehicles as well sooner than expect-ed.As technology continues to evolve and advance, business-es must adapt and change with the times for survival and growth.
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