Student Transportation Market Booms with VR, AR, AI; Cybersecurity Concerns Rise
The new school year has kicked off with a strong emphasis on safety and efficiency in student transportation. The global stock market is set to more than double in value by 2032, reaching $4.95 billion. Driving this growth are advanced technologies like virtual reality (VR) and augmented reality (AR), along with AI and real-time data integration. However, cybersecurity concerns are also on the rise, with a staggering 258% increase in total security incidents and a 546% rise in data breach cases in 2023.
Companies like Siemens and Mitsubishi Electric are at the forefront of this technological revolution. They offer integrated CAD and engineering software, including VR/AR tools, tailored for maintenance and aerospace sectors. These tools allow professionals to diagnose hidden issues in engines, enhancing operational safety and efficiency. Meanwhile, specialized automation and sensor companies like Jumo and Optris are integrating advanced imaging and sensor technologies for maintenance applications.
Real-time data, such as student ridership, video, communications, and vehicle telematics, is being increasingly integrated. AI-based vehicle and student monitoring, along with cloud-based fleet management systems, are driving market growth. Two years ago, Cummins demonstrated the use of VR and AR goggles in manufacturing and troubleshooting at STN EXPO East, showcasing the practical applications of these technologies.
As the student transportation market expands, so does the need for robust cybersecurity measures. Despite the significant increase in security incidents and data breaches, the integration of advanced technologies continues to improve safety and efficiency. With companies like Siemens, Mitsubishi Electric, Jumo, and Optris leading the way, the future of student transportation looks to be smarter, safer, and more efficient.
