Smart Mobility Market Overview
Smart Mobility Market size accounted for US$ 82.9 billion in 2024 and is estimated to be US$ 560.1 billion by 2034 and is anticipated to register a CAGR of 21.0%.
Mobility is the state of being able to move about freely and easily. Urban life depends on mobility, which also serves as the foundation of our cities. For transportation and doing daily duties, people depend on mobility. When travelling from point A to point B, people want to use a safe, clean, and affordable method of transportation, yet due to rising urbanization, they encounter congestion, pollution, and heavy traffic. Urbanization has therefore served as a driver for the expansion of the smart mobility market, which has led to a more open and versatile transportation system. In order to limit the number of automobiles on the road, smart mobility is the use of various forms of transportation as opposed to one's own vehicle. To reduce traffic, smart mobility incorporates many ideas including car-ride, and bike-sharing throughout cities. Globally, the need for smart mobility has grown due to a number of problems, including an increase in pollution, an increase in fatalities, and the loss of time caused by traffic congestion. Smart mobility is a ground-breaking concept for making the best use of the existing transportation options while ensuring zero emissions, minimal or no accidents, and no vehicle ownership.
Smart Mobility Market Dynamics
The two main market-driving factors are rising Internet usage and rising investment in applications for shared mobility. With the development of smart mobility, it is now possible to essentially figure out a means of Zero-emission, Zero-ownership, and Zero-accidents. Furthermore, the industry has expanded greatly over the past 20 years and will grow during the forecast years as a result of the continuous advancement in the application of AI.
The public transportation system has also advanced greatly over the past few decades in terms of travel time, contactless payment, and general effectiveness. An increase in market opportunities has led to numerous recent breakthroughs in technological start-ups. Players in the market are developing novel motorcycle or taxi sharing tactics more frequently. The tracking monitor of various public vehicles at a bus stop demonstrates how the public sector is becoming even smarter by concentrating on the routes of public buses and caring about schedules. As they perceive the future potential of the market, investors have recently begun to spend heavily in such an idea. Since electric cars (EVs) have started to enter the market and provide it with more affordable, environmentally friendly, and comfortable options, shared mobility has developed a strong interest in becoming smarter.
Additionally, a number of businesses have begun developing smartphone apps to assist rider’s progress for non-ownership rides. The rider can use such a module to schedule their ride according to their needs, the route, the time, and the type of vehicle without owning or renting the vehicle for that specific period of time. Due to clients' widespread acceptance of the stylish and affordable method of transportation, ridesharing is expected to develop at the fastest rate during the forecasted period. Additionally, consumers who previously used shared transportation have begun to switch from hiring a driver to drive their car due to it being more affordable. Global consumer awareness of shared mobility applications and systems as well as a greater reliance on smartphone apps to streamline daily tasks are also market growth drivers.
Smart Mobility Market Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
Smart Mobility Market is segmented based on element, technology, solution and region.
Element Insights:
On the basis of Element, the Smart Mobility Market is segmented into ride sharing, car sharing and bike computing. Ridesharing has the biggest revenue share in 2020 due to its broad adoption. However, the sector is anticipated to increase quickly over the course of the forecast period due to the increasing acceptance of car sharing, which would aid in the expansion of the global market for smart mobility. Ride sharing, vehicle sharing, and bike computing are the three divisions of the element segment.
Technology Insights:
On the basis of Technology, the target market is segmented into 3G&4G, wi-fi, GPS, RFID, embedded system and others. During the forecast period, the RFID market in the technology segment is expected to rule the worldwide smart mobility market. Additionally, it is projected that throughout the forecast period, the GPS market will expand at a rate of XX % annually. Due to GPS technology is increasingly being used in cars for better customer service, automated real-time alerts, and route planning. The remaining technological category is made up of embedded systems, Wi-Fi, 3G and 4G, and other things.
Solution Insights:
Based on Solution, the target market is segmented into traffic management, mobility management, parking management and others.
Regional Insights:
On region the Smart Mobility Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market for smart mobility in 2020 was dominated by North America. The United States earned a significant revenue share in 2020 and is anticipated to grow at a significant rate over the projection period as a result of an increase in the adoption of the smart mobility concept in North America. During the projection period, Asia Pacific is anticipated to grow due to demand for smart mobility as a result of rising public spending as well as development regions' acceptance of more environmentally friendly mobility options.
Report Scope:
|
Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024 – 2034 |
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Market representation |
Revenue in USD Million & CAGR from 2024 – 2034 |
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Market Segmentation |
By Element - Ride Sharing, Car Sharing and Bike Computing By Solution – Traffic Management, Mobility Management, Parking Management and Others By Technology– 3G & 4G, Wi-Fi, GPS, RFID, Embedded System and Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Smart Mobility Market, By Region:
- North America
- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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-
- U.S.
- Canada
- Middle East & Africa
Smart Mobility Market Key Players
The leading players operating in the Smart Mobility Market includes
Cisco Systems, Inc. is an American international technological conglomerate firm with its main office in San Jose, California.
Hitachi, Ltd is a multinational Japanese conglomerate firm with its main office in Chiyoda, Tokyo, Japan.
Ford Motor Company is a global American vehicle manufacturer with its headquarters in Dearborn, Michigan.
Siemens Mobility is a top supplier of effective and environmentally friendly transportation options.
Robert Bosch GmbH is a multinational German engineering and technology business with its headquarters in Gerlingen.
Excelfore Corporation offers a complete platform for the administration of edge devices' digital lifecycles in heterogeneous contexts, with an emphasis on the automotive industry.
QUALIX INFORMATION SYSTEM supplies smart parking management systems that not only enhance your parking initiatives but also offer drivers practical answers.
TOYOTA MOTOR CORPORATION seeks to build a world with smart mobility where people feel comfortable and content in their daily lives and in their transportation.
Smart Mobility Market Key Issues Addressed
Recent Development:
- In February 2021, TomTom's contract with precisely, the premier provider of data integrity services, was extended. Customers may use TomTom's superior maps and traffic data to make more knowledgeable, assured business decisions. The extremely exact map data from TomTom is used, along with historical and current traffic information.
- In Japan, the Ministries of Land, Infrastructure, Transport, and Tourism (MLIT) and the Ministries of Economy, Trade, and Industry (METI) launched a $27.6 million smart mobility subsidy initiative in 2019. The global market has grown as a result of similar investments and subsidy schemes being adopted by other governments around the world.
Smart Mobility Market Company Profile
- Cisco Systems, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hitachi, Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ford Motor Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Siemens Mobility
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Robert Bosch GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Excelfore Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- QUALIX INFORMATION SYSTEM
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- TOYOTA MOTOR CORPORATION
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Smart Mobility Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Smart Mobility Market
- Key Questions this Study will Answer
- Market Snippet, By Element
- Market Snippet, By Solution
- Market Snippet, By Technology
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Element, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Ride Sharing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Car Sharing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Bike Computing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Market Segmentation, By Solution, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Mobility Management
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Parking Management
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Traffic Management
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Market Segmentation, By Technology, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- 3G & 4G
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Wi-Fi
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- GPS
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- RFID
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Embedded System
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Market, By Region, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Element, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Solution, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Technology, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Element, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Solution, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Technology, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Element, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Solution, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Technology, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Element, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Solution, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Technology, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Element, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Solution, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Technology, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Cisco Systems, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hitachi, Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ford Motor Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Siemens Mobility
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Robert Bosch GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Excelfore Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- QUALIX INFORMATION SYSTEM
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- TOYOTA MOTOR CORPORATION
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
The Last Word
-
- Future Impact
- About Us
- Contact
FAQs
The Smart Mobility Market is segmented based on element, solution, technology and region.
The two main market-driving factors are rising Internet usage and rising investment in applications for shared mobility. With the development of smart mobility, it is now possible to essentially figure out a means of Zero-emission, Zero-ownership, and Zero-accidents.
The market for smart mobility in 2020 was dominated by North America. The United States earned a significant revenue share in 2020 and is anticipated to grow at a significant rate over the projection period as a result of an increase in the adoption of the smart mobility concept in North America.
The key players operating in the Smart Mobility Market includes Cisco Systems, Inc., Hitachi, Ltd, Ford Motor Company, Siemens Mobility, Robert Bosch GmbH, Excelfore Corporation and Others.