Global Smart Mobility Market Forecast to 2030 - Covid-19 Impact Analysis (By Element: Bike Commuting, Car Sharing, Ride Sharing; By Solution: Traffic Management, Parking Management, Mobility Management, Others; and By Technology: 3G & 4G, Wi-Fi, GPS, RFID, Embedded System, Others) - Global Market Size, Industry Trends, Competitive Landscape, and Opportunities
The global smart mobility market size accounted for US$ 25 Bn in 2021 and is anticipated to reach US$ 127 Bn by 2030 with a CAGR of 20.5% from 2022 to 2030.
Smart Mobility refers to new technologies and groundbreaking solutions that aim to offer a safer, greener, and more convenient future by reshaping and enhancing transportation. Smart Mobility is a network of intelligent transportation and mobility that aims to improve commuting time efficiency, cut emissions, and increase safety. It redesigns and generates innovative solutions to conventional transport systems such as gas-powered vehicles, automobiles, and public transportation systems by connecting several components of technology and mobility. Smart mobility allows individuals to choose their mode of transportation and offers them with all the essential knowledge and alternatives in the event of unexpected changes to their original itinerary. One of its advantages is its ability to respond in real time. It leads to innovative, more efficient, and environmentally friendly transportation systems. Furthermore, by making journeys reliable and safe, it optimizes time, expenditure, and comfort for everyone.
The transportation industry is going through a unique transition from using fossil fuels to embracing electrification in all of its forms. This is known as decarbonization, and it is one of humanity's most important duties to itself and to the world. Transport, for example, accounts for over 30% of CO2 emissions in the European Union. And road transport accounts for 72 percent of these. That's why European establishments have been working for years to reduce emissions and force automakers to endorse electric vehicles.
The management of huge traffic data is one of the founding principles of 21st century mobility. Companies use certain resources in attempt to comprehend large-scale transport flows: installing data sensors and data gathering devices on infrastructure and vehicles in order to enact the effectiveness of transportation networks with the help of AI and IoT. This trend would benefit from traffic reduction, reduced travel times, and clean electric energy management to power electric mobility. It is also an essential component of the following solution.
Smart mobility integration will benefit more developed urban cities as they gradually transform into Smart Cities. Waze, for example, is a navigation app that receives real-time traffic data as well as information in order to identify safety hazards such as road fatalities or unforeseen traffic hotspots on a city's highways. As more cities adopt a smart city model, smart mobility assimilation will provide answers to problems for urban transportation systems and data, allowing for increased road safety and efficiency.
Element, solution, technology, and region are the four categories of the global smart mobility industry. Based on the element sector, the segmentation includes bike commuting, Ride Sharing, and car sharing. According to our research, the ride sharing segment will dominate the smart mobility market in the coming years.
The Solution segment is divided into traffic management, mobility management, parking management, and others. Based on solution, the mobility management segment achieved a significant market share during the forecasted timeframe 2022 – 2030. The Technology segment is further categorized into Wi-Fi, 3G & 4G, GPS, embedded system, RFID, and others. Among them, Wi-Fi segment achieved a significant amount of market share in 2021.
Global Smart Mobility Market Geographical Competition
North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa comprise the global smart mobility industry. In 2021, Europe would have the biggest share of any region. Europe is expected to dominate the smart mobility market. This is due to the fact that an ever-increasing population demands a high level of energy consumption. The incorporation of cutting-edge technologies will create lucrative opportunities for the expansion of Europe's global smart mobility industry. Meanwhile, the Asia-Pacific region is expected to grow at the fastest rate in the coming years. This expansion can be attributed to the region's rapid population growth, as well as rising urbanization trends, which are fueling consumer popularity of smart mobility solutions.
Global Smart Mobility Industry Segment Analysis
Market By Element
· Car Sharing
· Ride Sharing
· Bike Commuting
Market By Solution
· Parking Management
· Mobility Management
· Traffic Management
Market By Technology
· 3G & 4G
· Embedded System
Smart Mobility Market Leading Companies
This section of the study honors the market's top vendors Robert Bosch GmbH Cisco Systems, Inc., QUALIX INFORMATION SYSTEM, Excelfore, Innoviz Technologies Ltd, Maas Global Ltd, The Ford Motor Company, Siemens, TomTom International N.V., and Toyota Motor Corp. are the key companies mentioned in the research.
Smart Mobility Market Regions
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa