You have read truckers report and you are wondering where trucking industry will be in the future? What kind of changes will people in the trucking industry face?
In this article I will answer some of your questions that came out from truckers report. By doing that I will let you see more clearly what the future trends in trucking industry will look like.
Among all changes that are going to be present in the future of the trucking industry there are 10 trends that will happen for sure. Those 10 future trends include:
- Growth of Industry;
- Excluding the Brokers from Trucking Industry;
- Better Paid Loads;
- Reduced Trip Length;
- Truck Drivers Shortage;
- Insurance Costs will get lower;
- ELD Mandate;
- Merger Trend Will come;
- Brokers will buy;
- Profit Will Raise;
Truckers report are saying and forecasting that trucking industry will go through the process of slightly changes over the period of next 10 years, and if you want to go through those changes successfully it is the best to get prepared. One way to get prepared for those changes is to acknowledge that technology is improving every day.
As you might expect these trends will happen, and that will be due to evolution and small changes. Furthermore, these changes will bring improvements, and by fine tuning and upgrading trucking industry will get to a point where truck drivers and trucking companies’ owners will achieve profit.
Trucking industry exists for more than 100 years, and during its existence it has been and it is still facing changes. When we see truckers report we can notice that changes were constant all the time, the only difference was that they were sometimes faster, and sometimes slower, but they were always present.
Nowadays trucking industry is facing changes that are happening faster than ever before. Hence, trucking industry is adapting to the current technology development and is changing its business habits. Additionally if the trucking company is easily adaptable to technology development and changes in general, it will meet success for sure.
1.Industry Will Continue To Grow
Nonetheless, major industry growth in trucking industry will happen soon, we can see that in truckers report. In general almost every business in USA is impacted by trucking industry, and that is the primer reason why trucking industry is expanding.
Without trucking industry in USA many things would stop functioning, even though we could stay without food. Seeing that we get a way clearer picture why this industry will continue to grow.
Identically as any other industry- trucking industry has had ups and downs during these 100 years while it is on the market, we can see clearly that in truckers report. Finally after several years of ups and downs, it has reached the state of stability, and by that improvement and innovation are following. These innovations and improvements are bringing with themselves a new technology that will help trucking industry by:
- Providing trucking companies with new technology that will help them transporting loads without the need of brokers;
- In the next 10 years loads will be better paid;
- It will be easier to find loads, and trip length will be reduced;
Truckers report are showing that trucking industry will continue to grow, this is unbeatable fact. All the Truckers Report are showing that industry will continue to grow and over the next 10 years there is 21% growth expected. Also in some areas there is even bigger growth rates expected such as overall tonnage will grow by 70% in the next 10 years.
When you look at the Truckers Report it is definitely industry that is growing and it is good to be a part of it. But also it will require some modifications in a way of thinking and doing business.
Most compelling evidence for trucking industry growth in USA is the one that the American Trucking Association (ATA) has given. This trucking association is predicting that the revenue in this industry will rise to 66% or even more. It is only the matter of time and finding the methods of transportation improvement.
Get FREE White Paper - Learn All About 10 Secret Trends That Could Bankrupt Your Company
It is important to emphasize that in this passing year trucking industry has already seen 10% volume increase. Truckers report show that good logistic strategies are everything. Since we are in the trucking industry and we have the time on our side we should play smart and incorporate new technology and new strategies in order to see the long expected industry growth.
In the future trucking companies owners will need to adapt to new changes in order to be successful and stay in the business. Technology will have a great impact and will become the part of everyday daily routine so it is important to adapt to it, and enjoy the benefits that it brings.
2.Brokers Will Lose Their Role
Straight forward as technology is developing constantly, and is reaching its highest level so far, truck brokers are losing their role in this business. That is so because technology nowadays allows transporting loads without the need of broker.
Moreover, truckers report show that in the future it will be even easier to make a deal without the help of the broker. That will make truck companies’ owners life easier and at the same time they will have more money in their pockets.
A good start point to exclude brokers from the business is the fact that trucking companies are not happy with the current situation. They want to avoid brokers as much as possible. After all the changes that are going to be made in the trucking business will provide trucking companies owners to get more loads without brokers and at the same time to make more money.
Here are some reasons why trucking companies do not want to work with brokers:
- Because Brokers are lowering the load price;
- As well they are cutting trucking profits;
- Brokers are known to cause problems by canceling the loads , even though the documents are signed;
- Because Brokers do not provide the full information about the loads;
Truckers report show changes in this part of the trucking business that are already knocking on the door and creating a lot of divided thoughts, truckers report can show that. Mostly changes are going to be made as an effect of the trucking companies that will aim towards change.
And we all know that if our wish is strong enough we are going to find a way to realize it. So if trucking companies have a strong will to fight for changes, they will definitely succeed.
Most trucking companies’ owners want to incorporate new ways and means how to lead the companies in order to make more profit. Trucking companies want to work in a way that they won’t waste and lose money for brokers. Truckers report show that trucking companies can be successful without brokers.
Among the newest strategies that some companies are using are the wellness strategies. These wellness strategies can help trucking companies have a better insight of the total cost that the company is facing. Certainly by having a better insight of the total cost owners will be in a position to manage the cash flow and to make reorganization.