Industry Overview of Smart Mobility Market
Smart mobility encompasses a network of advanced technologies that provide sustainable, efficient, and resilient transportation options to individuals. This includes the use of public transportation, shared mobility services, electric vehicles (EVs), and on-demand ride solutions, all aimed at optimizing urban transportation systems and enhancing road safety. Smart mobility also focuses on offering eco-friendly commuting options to minimize pollution levels. By improving traffic management systems and efficiently managing parking areas, smart mobility helps reduce greenhouse gas (GHG) emissions and promotes a greener environment.
How Big Is the Smart Mobility Market?
According to the new market research report by IMARC Group the global smart mobility market reached a value of US$ 51.3 Billion in 2022. It is projected to reach a value of US$ 135.6 Billion by 2028, exhibiting a CAGR of 16.55% during 2023-2028.
Global Industry Trends and Drivers:
The smart mobility market is experiencing growth driven by various factors. One of the key drivers is the increasing global demand for shared services and electric vehicles (EVs) due to growing consumer concerns about the environment. Additionally, the widespread adoption of on-demand transportation solutions, which offer flexibility, cost-effectiveness, and easy availability, is contributing to market expansion. The integration of Artificial Intelligence (AI), cloud-based solutions, and the Internet of Things (IoT) with smart mobility is also playing a significant role in catalyzing the market globally. Furthermore, government bodies across countries are launching subsidy programs to encourage the adoption of advanced technologies, further fueling market growth. The rise in urbanization levels, continuous advancements in the automotive industry, and substantial investments in research and development activities by key market players are additional factors stimulating market expansion. Moreover, the increasing penetration of high-speed internet connectivity is expected to further bolster the smart mobility market in the years to come.
Key Market Segmentation:
The report provides detailed segmentation of the global smart mobility market based on based on product, distribution channel and application and region.
Breakup by Technology:
- 3G and 4G
- Wi-Fi
- Global Positioning System (GPS)
- Radio Frequency Identification (RFID)
- Embedded System
- Others
Breakup by Solution:
- Traffic Management
- Parking Management
- Mobility Management
- Others
Breakup by Element:
- Bike Commuting
- Car Sharing
- Ride Sharing
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Cisco Systems Inc., Excelfore Corporation, Ford Motor Company, Innoviz Technologies Ltd, QuaLiX Information System LLP, Robert Bosch GmbH, Siemens AG, Thales Group, TomTom N.V. and Toyota Motor Corporation.
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