The futures of mobility hold quite a few interesting storylines. The biggest takeaway takes root in the fact that Information Technology (IT) will be a key innovation driver across the mobility sector.
As such, Business Insider reported that 34 billion devices will be connected to the internet by 2050. According to statistics put together by myForesight® in its ‘Industry 4.0 and Smart City Integration from the perspective of Mobility’ article, 75% of Malaysian live in urban areas and the country’s urbanisation rate goes about 4% a year on average—among the fastest in East Asia (Urbanice Malaysia & World Bank). This indicates that mobility is highly intense at city level compared to rural areas.
Before we go further, let’s take a look at a snapshot of the technology trends that will stimulate the mobility sector.
On the surface, these technologies are nearing widespread mainstream adoption. Self driving and energy efficient cars for example, aim to free up the choking constraints of today’s urban movement as well as address pressing environmental concerns.
Amid all these changes, businesses need to be aware that mobility drives economic wealth and improves social connectivity. These are two of the biggest areas of growth that businesses need to tap into.
Perhaps a much friendlier approach to understand how the changes will take place is realising that our movement, transaction and business functions will need to become more fluid in the future. To illustrate, various technology developments are vastly cutting time, traffic stream friction and the cost of distance.
With this in mind, businesses too need to keep up. Surely, up for change in the near future are marketing and advertising. Out of home advertising for example can no longer be stationary. Businesses need to make sure that their marketing efforts and ads are delivered at the right time, at the right place and to the right audience.
The amount of revenue that can be generated as a result of content being consumed on the go makes a strong case of a viable profit pool. This is just one micro example of how things might change as mobility becomes more fluid. How far will it go? As far as your imagination allows it to.
Last but not least, with the declining cost of distance, businesses will be required to take an incisive look at their outgoing business model. Before long, we could well be seeing billboards put up in the sky dangling over drones at each end as we drive by. To learn more, you can visit myForesight®’s website or read the original article here.
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