Smart Mobility Market 2023-2028 | Size, Growth, Trends and Report Outlook

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 encompasses an interconnected system that leverages advanced technologies to provide individuals with sustainable, efficient, and resilient transportation options. This includes the use of public transportation, shared mobility services, electric vehicles (EVs), and on-demand ride solutions, all aimed at optimizing urban transportation while enhancing road safety. Furthermore, smart mobility contributes to environmentally friendly commuting options, leading to reduced pollution levels. It plays a pivotal role in improving traffic management and efficient utilization of parking facilities, all while contributing to the reduction of greenhouse gas (GHG) emissions.

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Smart Mobility Market


Global Industry Trends and Drivers:

The smart mobility market is experiencing substantial growth, driven by several key factors shaping its expansion. One prominent driver is the increasing global demand for shared services and electric vehicles (EVs), reflecting growing consumer environmental awareness. Additionally, the widespread adoption of on-demand transportation solutions, characterized by their flexibility, cost-effectiveness, and easy accessibility, is further fueling market growth. The integration of cutting-edge technologies like Artificial Intelligence (AI), cloud-based solutions, and the Internet of Things (IoT) into smart mobility solutions is also playing a pivotal role in catalyzing the global market. Moreover, government bodies in various countries have launched subsidy programs to incentivize the adoption of advanced technologies, providing an additional boost to the market. The ongoing trend of urbanization, continuous advancements in the automotive industry, and substantial investments in research and development by key market players are further stimulating market expansion. Additionally, the growing availability of high-speed internet connectivity is expected to be a significant contributor to the continued growth of the smart mobility market in the coming years.

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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

The report provides a comprehensive analysis of the industry key players listed below:

The Major Players in the market are Cisco Systems Inc., Excelfore Corporation, Ford Motor Company, Innoviz Technologies Ltd, QuaLiX Information System LLP, Robert Bosch GmbH, Siemens AG, Thales Group, TomTom N.V. and Toyota Motor Corporation.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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