Global Smart Mobility Market Report and Forecast 2024-2032

Global Smart Mobility Market Outlook

The global smart mobility market is projected to grow at a CAGR of 21.5% during the forecast period of 2024-2032. The market is being driven by advancements in technologies and the growing focus on reducing road congestion.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Advances in Global Positioning System (GPS) Technology to Catalyse the Growth of the Global Smart Mobility Industry

Based on technology, the global positioning system (GPS) segment is predicted to hold a significant market share in the smart mobility industry. This growth can be attributed to the increased implementation of GPS technology in carpooling and cab services for swift tracking of people through satellite signals that can calculate an individual's positioning. Moreover, GPS technology helps minimise fuel costs while improving safety and productivity. In addition, it enables smart route planning with automated real-time alerts that add to its overall popularity in the market. These factors are expected to contribute to the growth of the segment in the forecast period.

Rising Urbanisation to Bolster the Growth of the Smart Mobility Industry in the Asia Pacific

The Asia Pacific is estimated to hold a substantial share of the smart mobility industry in the forecast period. This growth can be attributed to the rapid population growth, along with the rising trends of urbanisation in the region, which is leading to an increased demand for smart mobility solutions among consumers. Moreover, in countries like India, where 70% of the population is expected to reside in urban dwellings by 2050, the mobility requirements are expected to bring forth challenges such as air pollution and congestion, which is predicted to increase the demand for smart mobility solutions in the region. These factors are estimated to positively influence the smart mobility industry growth in the Asia Pacific.

Smart Mobility: Market Segmentation

Smart mobility is an emerging concept that refers to an intelligent transport and mobility network, which integrates modes of transportation through wireless communication solutions and applies real-time data analytics along with machine learning technology to enhance the transportation experience. The smart mobility technology offers affordable commuting with varied transportation options, including rapid mass transit systems, vehicle sharing, and on-demand mobility solutions, among others. This technology network makes the process of mobility economically viable while also being environment friendly and socially equitable.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

By elements, the market is divided into:

• Bike Commuting 
• Car Sharing
• Ride Sharing

On the basis of solution, the market can be segmented into:

• Traffic Management
• Parking Management
• Mobility Management 
• Others

Based on technology, the industry can be categorised into:

• 3G and 4G
• Wi-Fi
• Global Positioning System (GPS)
• Radio Frequency Identification (RFID)
• Embedded Systems
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Heightened Urbanisation and the Rising Environmental Awareness to Augment the Global Smart Mobility Industry

The rising population worldwide is leading to increased rates of urbanisation, which has created an increased demand for transportation facilities. This has further resulted in increased utilisation of smart mobility solutions. Moreover, the increasing need for transportation, along with the escalating eco-consciousness among consumers, is driving individuals to engage in carpooling and adopt cab services and ride sharing facilities, which is expected to spearhead the market growth. In addition, the growing investment by the government in the development of smart cities is also expected to drive the market growth. Furthermore, with subsequent technological advancements, electric cars are being introduced into the market, which is expected to reduce the usage of fossil fuel-based energy resources. In addition, the increased investments in the research and development of smart mobility solutions by the leading manufacturers and the integration of latest technologies such as artificial intelligence (AI), Mobility-as-a-Service (MaaS), and others are expected to significantly contribute to the market growth in the forecast period.

Key Industry Players in the Global Smart Mobility Market

The report gives a detailed analysis of the following key players in the global smart mobility market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Cisco Systems, Inc.
• Hitachi, Ltd
• Ford Motor Company
• Siemens Mobility
• Robert Bosch GmbH
• Excelfore Corporation 
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report