The Global Smart Mobility Market is expected to grow at a CAGR of around 29.33% during the forecast period, the market is expected to grow from USD 421.32 Billion in 2020 to USD 3296.71 Billion in 2029. The cumulative market is expected to reach USD 16731.17 Billion. The global smart mobility market would be dominated by three regions – Europe, Asia Pacific and North America. The APAC market is expected to account to more than 30% of the total market. The decrease in the cost of hardware, the evolution of network communication technology, growth in the support infrastructure, high mobile adoption and internet penetration are some of the key drivers which would drive the smart mobility market. Technologies such as 3G/4G/5G, WI-FI, RFID, Embedded System to name a few for network communication, MEMS sensors and cloud computing would be key to smart mobility growth.
The Smart Mobility Market has experienced substantial growth over the last few years and is expected to increase further over the projected period (2020-2029). Smart Mobility has made a number of long-term investments and technology advances in markets such as connectivity, electrification, automation and shared mobility that are expected to drive the industry at an accelerated pace.
Security concerns, lack of standardization, data liability and lack on return on investments will remain key challenges to the growth of smart mobility. High cost of implementation and legacy devices would act as restraints to the growth of smart mobility. There have been many instances when autonomous transport systems have been hacked and data has been compromised. The current smart mobility market is fragmented with a large number of standards. The growth of smart mobility is expected to be delayed until standardization is achieved. Capacity issues are expected to rise as the smart mobility market grows which would result in the shift from fossil fuel vehicles to electric vehicles and then to autonomous hybrid electric vehicles.
The smart mobility market is expected to evolve throughout the forecast period. There would be a transformation in the way data is being processed. Data processing would shift from centralized and cloud to edge technology where analysis of data and development of solutions is expected to occur at data generation points. Connectivity is expected to grow at a CAGR of 29.3% during the forecast period. Edge computing will have vast applications in time critical processes like driverless transport applications. There is also expected to be evolution in the sensor market due to emerging technologies like MEMS. The diminishing size of sensors is primarily driven by the MEMS technology. The reduction in price of sensors has been one of the drivers of the smart mobility market.
The smart mobility market is divided into 6 segments on the basis of region – which are North America, Europe, APAC, Middle East, Latin America and Rest of the World.
The smart mobility market is divided into 5 segments on the basis of technology which are 3G/4G, WI-FI, GPS, RFID and Embedded Systems. WI-FI is expected to be the fastest growing technology out of these segments and would grow at a CAGR of 32.2% during the forecast period. GPS technology would have vast applications in smart cities. GPS technology would be the dominant technology and would account for around 33% of the market during the forecast period.
The report titled “Global Smart Mobility Market Report” is segmented based on region, technology and components. The regions are segmented as North America, Europe, APAC, Middle East, Latin America and Rest of the World. The country analysis chapter contains a detailed insight into Smart Mobility infrastructure of top 10 countries.
The Smart Transport Assets sector is expected to be the fastest growing sector at a CAGR of 35.5% during the forecast period 2020-2029.
The study period of the report titled “Global Smart Mobility Market - Market and Technology Forecast to 2029” is 2019-2029 and the forecast period is 2020 - 2029.
The report titled “Global Smart Mobility Market and Technology Forecast to 2029” is segmented based on region, technology and component:
- North America
- Middle East
- Latin America
- Rest of the World
- Traffic Management
- Charging Infrastructure
- Mobility Intelligence
- Customer Mobility
- Smart Transport Assets
- 3G/ 4G
- Wi- Fi
- Embedded Systems
- South Korea
- The Netherlands
- United Kingdom
- The United States
- The report will help investment bankers and the financial institutions to understand
- The overall market trend and the key dynamics that govern this market.
- The report will help automotive manufacturers and other stakeholders to understand the key opportunity market and focus their efforts in those specific regions.
- The report would also help the technology providers in the Smart Mobility market to understand the overall market perspective.
- The report will help the top management team to take strategic decisions on
- Opportunity analysis or market entry strategies.
- The infrastructure and component suppliers in the Smart Mobility market are expected to benefit from this report, the market forecast section would help them understand the market potential at the component level.
- The key companies from the top ten countries have been discussed in detail in the Country Analysis section.
- Smart Mobility Equipment Manufacturers: The report would help the Equipment manufacturers to understand the potential markets. This would help them focus on high growth markets.
- Smart Mobility Service Providers: The report would help service providers to understand the key dynamics and the trends in this market.
- Integrators: The report would help the integrators in the Smart Mobility market to understand the trends in this market.
- Sensor Providers: The Sensor Manufacturers can use this report to understand the high growth opportunities and focus or migrate to those high growth sectors.
- Automotive Manufacturers: The automotive manufactures could use this report as a reference to the long-term strategy planning.
- Financial Institutions: The report would help individual investors or investment banks or other investment bodies to understand the Smart Mobility market, which would in turn help them to take informed decisions.