Global Smart Mobility Market is valued approximately at USD 34 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.5% over the forecast period 2020-2027. Smart mobility is a groundbreaking concept for developing accessible transportation resources in a secure and efficient way to ensure zero-emission, no or least accidents, along with no ownership of vehicles. It uses different modes of transportation instead of using one’s vehicle to significantly reduce the number of vehicles moving on the roads. It is concerned with the promotion of sustainable mobility that assures accessibility, parking management, and the resolution of environmental complications. Smart mobility also obtains a pattern change and inclined toward a multimodal transport system with great flexibility and accessibility, centered on intelligent management, which may act as a major driving factor for the growth of the market all over the world. Additionally, the surging trend of on-demand transportation services, coupled with the rise in government initiatives for smart cities projects are the few factors responsible for the CAGR of the market during the forecast period. According to the government insider, globally, there are around 1000 smart city pilot projects are operating, of which China is home to 500 pilot projects of smart city, covering small as well as large cities. Further, the country has invested USD 46.52 billion in 2017 for the development of pilot projects. This, in turn, is expected to strengthen the market growth all over the world. However, the lack of standardized and uniform technology and the threat of data hacking are the major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Smart Mobility market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the government support and funding toward the building of intelligent transportation systems, and the presence of a significant number of manufacturers of smart mobility solutions in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the growing trend for using advanced technology in transportation and increasing disposable income of the individuals would create lucrative growth prospects for the Smart Mobility market across the Asia-Pacific region.
Major market player included in this report are:
Ford Motor Company
Innoviz Technologies. Inc.
MAAS Global Oy
QuaLiX Information System
Robert Bosch GmbH
Toyota Motor Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
3G & 4G
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Smart Mobility Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers