IMARC Group, a leading market research company, has recently releases report titled “Smart Mobility Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart mobility market growth, trends, size, share and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big Is the Smart Mobility Market?
The global smart mobility market size reached US$ 51.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 135.6 Billion by 2028, exhibiting a growth rate (CAGR) of 16.55% during 2023-2028.
What is Smart Mobility?
Smart mobility refers to the strategic integration of multiple transportation modalities, technology, and services with the goal of providing people and goods with a smooth, effective, and environment-friendly travel experience. It is available in several forms, including ride-sharing and bike-sharing programs, smart traffic management systems, and autonomous vehicles. It employs advanced hardware, software, and sensors to gather information, processes it, and then deliver practical recommendations for improving the transportation network. It provides various benefits, such as lower carbon emissions, less traffic congestion, and financial savings for both cities and citizens. It employs sophisticated sensor systems and real-time data analytics, which provide safer driving environments. It offers user-centric designs that enhance user convenience during navigation and payment procedures.
Smart Mobility Market Trends and Drivers:
At present, there is a rise in the demand for convenient, efficient, and quick transportation options. This represents one of the key factors impelling the market growth. Additionally, increasing concerns about road safety issues is encouraging the adoption of advanced driver-assistance systems (ADAS) and other safety features. Besides this, the growing issue of traffic in urban areas is driving the need for smart mobility solutions to mitigate congestion. Moreover, rising collaborations between governmental bodies and private organizations is leading to faster deployment and better quality of smart mobility services. In addition, the increasing traction of mobility-as-a-service (MaaS) platforms that integrate numerous forms of transport services into a single, accessible, and user-friendly digital interface is propelling the market growth. Furthermore, the growing awareness about the need to make transportation accessible to people with disabilities is positively influencing the market. Apart from this, rising advancements in battery life and efficiency are making electric vehicles (EVs) a more viable and attractive option within smart mobility. Moreover, the increasing need for real-time tracking and efficient routing in the logistics sector is offering a favorable market outlook.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
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
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape