Smart Mobility Market Projected to Register a 20.5% CAGR by 2030 - Report by Market Research Future (MRFR)

Increasing trend of on-demand transportation services and Improved performance of autonomous vehicles

New York, New York, UNITED STATES


New York, US, Oct. 18, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Smart Mobility Market Research Report: Information by Technology, Solution Type, Element, and Region— Forecast till 2030”, the global market is anticipated to flourish substantially during the assessment timeframe from 2020 to 2030 at a robust growth rate of approximately 20.5%.

Smart Mobility Market Overview:

Smart mobility is a transportation solution considered to be safe and competent. It is generally utilized in electric vehicles, the internet of things, and many others. It can be utilized across the transportation sector and in other industry sectors, such as electric power, fire control, and logistics. Smart mobility services overgrow in extreme competition with competitors across the market. In the meantime, service providers collaborate partly to prevent fatigue and focus on their primary business. Thus, external and homebrew services rely on one another. The global market for smart mobility has recorded massive expansion in the last few years. The main parameter supporting the market's growth is the growing internet proliferation across the globe.

Smart Mobility Market Competitive Analysis

The catalog for the key participants across the global market for smart mobility includes companies such as:

  • Cisco
  • QuaLiX Information System
  • Excelfore Corporation
  • Robert Bosch GmbH
  • Ford Motor Company
  • Siemens
  • Innoviz Technologies. Inc.
  • TomTom International
  • MAAS Global Oy
  • Toyota Motor Corporation

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Furthermore, the growth investment in shared mobility applications is another prime parameter supporting the growth of the market across the globe. With growing smart mobility, considered an innovative way of figuring out techniques to commute in safe, efficient, and clean mode, essentially find a way of Zero-emission, Zero accidents, and Zero ownership. In addition, because of the consistent growth in the use of AI, the global market for smart mobility is likely to show considerable development over the coming years. the public transportation system has developed substantially over the years in terms of overall efficiency, contactless payment, and commuting time. Several recent advancements in terms of technology start-ups have appeared because of a rise in market prospects.

Smart Mobility Market Report Scope:

Report MetricsDetails
  Market Size by 2030USD Significant Billion Value
 CAGR during 2022-203020.5%
 Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
 Key Market OpportunitiesImproved performance of autonomous vehicles
 Key Market DriversIncreasing trend of on-demand transportation services

Smart Mobility Market USP Covered

Market Drivers

The global Smart Mobility Market has shown massive development in the last few years. The main parameter supporting the market's growth is the development of technology over the years. The utilization of Big Data as a service and IoT has allowed the growth of a brand-new market. Over the years, the market has become more modern, and organizations across the globe are emphasizing improving their services and products. Furthermore, the factors such as the growing trend of on-demand transportation services and better performance of autonomous vehicles are also predicted to catalyze the market's growth over the coming years.

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Smart Mobility Market Restraints

On the other hand, several parameters may limit the growth of the global market for smart mobility. The central hindering aspect of the smart mobility market development is the growing threat of data hacking. Furthermore, the lack of stricter laws to protect the data is another prime aspect likely to impede the market's performance over the coming years.

Smart Mobility Market COVID-19 Impact

The world has been through many changes since the arrival of the global health crisis in the form of COVID-19, which ended up affecting the majority of the industry sectors across the globe. The pandemic managed to reach almost 225 nations across the globe. Once COVID began to spread across the globe and the number of cases began to rise, several limitations were enforced. The numerous governments across their nations have halted many activities and people movements to lower the spread of the virus across several regions worldwide. This has caused the blockage of transportation services, and the demand for smart mobility began to fall rapidly during the pandemic. On the other hand, with worldwide industrial and financial operations returning to normal, the global market for smart mobility is predicted to witness a massive development over the coming years.

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Smart Mobility Market Segment Analysis

Among all the elements, the car-sharing segment is predicted to lead the global market for smart mobility over the coming years.

Among all the solution types, the parking management segment is anticipated to secure the top rank across the global market for smart mobility over the review era.

Among all the technologies, the global positioning system segment will likely lead the global market over the coming years.

Smart Mobility Market Regional Analysis

The global market for smart mobility is analyzed across five major regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

According to the research reports by MRFR, the Asia-Pacific region is predicted to hold the top spot across the global market for smart mobility over the review era. The growing population across the region is considered the main parameter is supporting the regional market's growth. Furthermore, the rising middle-class population is another crucial aspect likely to support the regional market's growth over the coming years. Moreover, the escalating level of disposable income across developing economies is also predicted to influence growth over the forecasted era. In addition, factors such as rising VC investments, the growing number of start-ups, and government initiatives are also likely to catalyze the growth of the regional market over the coming years.

The smart mobility market for the North American region is likely to grow substantially over the review era. The infotainment systems are gaining massive traction across the region. Furthermore, the factors such as technological advancements and the adoption of smart mobility systems becoming increasingly innovative and sophisticated are also projected to catalyze the growth of the regional market over the assessment era. In addition, the factors such as the increased focus on customer mobility solutions and constant investments in transportation infrastructure are also predicted to cause an upsurge in the regional market's growth over the coming years.  

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The smart mobility market for the Middle East & Africa, and Latin American region is anticipated to grow rapidly over the coming years owing to the aspects such as growth in the automotive industry, continued investments in transportation infrastructure, and increased emphasis on customer mobility solutions.

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