Smart Mobility Market Research Report Information By Element (Bike Commuting, Car Sharing, Ride Sharing), Solution Type (Traffic Management, Parking Management, Mobility Management), and Technology (3G & 4G, Wi-Fi, Global Positioning System (GPS), Radio Frequency Identification (RFID), Embedded System), and Region (North America, Europe, Asia Pacific, Rest of the World) - Global Industry Size, Share, Growth, Trends and Forecast To 2032

Smart Mobility Market Overview

Smart Mobility Market size was valued at around USD 44 Billion in 2022 and is projected to reach USD 258 Billion by 2032, growing at a CAGR of 20.1% during the forecast period. This refers to the transportation solution which is intelligent and safe. It is widely used in electric vehicles (electric cars, electric bikes), the internet of things, and so on. Not only can it be used in the transportation field, but also widely used in other industries, such as logistics, fire control, and electric power.

Smart Mobility Market Dynamics

The smart mobility market has grown substantially due to the improvement in technology. The use of IoT and Big Data as a service has enabled the growth of a brand-new market. The industry has become more sophisticated, and companies are focusing on modernizing their products and services. While smart mobility is already a big market, it is expected to grow even more in the coming years. In the future, there's going to be an increased demand for smart mobility products across the world. There's going to be a huge growth in this industry, which will see a rise in the smart car industry and other similar industries.

Drivers

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  Increasing trend of on-demand transportation services

  
  

On-demand services provide customers with large amounts of flexibility, real-time customer feedback, tracking features, and the ability to evaluate their experience with ratings. They are a great way to cut costs and provide a service that is personal to each customer's needs. There are many ways that people can compare a variety of prices without needing to go to the dealership themselves. Mobile apps make it easy to find the best possible deal. For instance, some apps have been coming out to help you find nearby ride services. AI writing services allow customers to use lots of features. These include the ability to find exact locations and match demand with available supply. These factors have a significant impact on the smart mobility market and are driving it forward. 

Restraint:

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  The threat of data hacking

  
  

In recent years there has been an upward trend of data hacking over the internet. These days, there are several people out there whose only aim is to hack into the computer and steal valuable data. A lot of companies use data encryption to safeguard their data, but several people can still crack encryption. Awareness of the threat is increasing, and governments are putting stricter laws to protect the data but there are still some questions about whether it's enough to make the companies feel safe.

Opportunity:

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  Improved performance of autonomous vehicles

  
  

The market for smart mobility is growing quickly, as governments and private organizations embrace the use of autonomous vehicles for the greater good. The technology behind autonomous vehicles market includes GPS, computer vision, and a lot more software that allows the vehicle to have a brain of its own. This will not only save a lot of lives, but it will also reduce traffic since the vehicles will be able to communicate with each other and will be able to drive more efficiently by anticipating traffic and road hazards. The better the software in the car, the safer everyone will be while riding in it. High demand for smart mobility products has resulted in increased demand for hardware, software, and services from all industries. Enterprises are looking to acquire technologies that will help them survive in this new industry, and a majority of them will make venture investments to move their business forward.

Smart Mobility Market Segment Overview

By Element

Based on element, the global smart mobility market has been segmented based on bike commuting, car sharing, and ride sharing. The car-sharing segment is the largest in the global smart mobility market.

By Solution Type

Based on solution type, the global smart mobility market has been segmented based on traffic management, parking management, mobility management, and others. The parking management segment is expected to be the fastest-growing in the global smart mobility market during the forecast period.

By Technology

Based on the Technology, the global smart mobility market has been segmented based on 3G & 4G, Wi-Fi, Global Positioning System (GPS), Radiofrequency Identification (RFID), Embedded system, and others. The global positioning system segment is anticipated to be the fastest-growing segment in the global smart mobility market during the period of 2022-2030.

Smart Mobility Market Regional Analysis

By region, the global smart mobility market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region is estimated to hold a substantial market share in the global smart mobility business.

Asia-Pacific Market

Asia Pacific region is a vital region for the growth of the global market. This is due to a rise in population, a growing middle-class population, and an increasing level of disposable income. Government initiatives coupled with the growing number of start-ups and rising VC investments will aid the growth of this market during the study period.

North America Market

North America is projected to witness a significant growth region in the global market. First, the infotainment systems are gaining traction in this region. The market is moving towards the adoption of systems, and technological advancements have made automotive systems more sophisticated and innovative.

Smart Mobility Market Competitive Landscape

The market comprises various national and international players. The market players are investing in R&D and also finding new ways to develop and improve product portfolios. Various players are entering into expansion, new product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.

Prominent players in the global smart mobility market include

• Cisco,


• Excelfore Corporation,


• Ford Motor Company,


• Innoviz Technologies. Inc.,


• MAAS Global Oy,


• QuaLiX Information System,


• Robert Bosch GmbH,


• Siemens,


• TomTom International,


• Toyota Motor Corporation


• others.

Smart Mobility Industry Developments

April 2024: An associate of DENSO, a major mobility provider, DENSO Products and Services Americas, Inc., declares MobiQ: the corporation’s fresh mark of automotive tools and “vehicle-to-everything” (V2X) items.

DENSO revealed MobiQ at the ITS America Conference & Expo 2024 in Phoenix today.

Throughout this four-day trade show, DENSO is displaying two aftermarket MobiQ V2X solutions’ capabilities:

• Roadside Unit – can be integrated with existing infrastructures like traffic signal controllers and networks to optimize safe and efficient traffic movements.


• On-Board Unit – allows connected vehicles and intelligent infrastructure to communicate with each other, which provides new opportunities for improving road safety as well as vehicle movement.

Concept development for V2X projects, system engineering and integration, software creation, hardware creation, testing & analysis are among some areas where DENSO has vast experience.

Its continuously expanding range of smart mobility products/systems reflects its commitment to providing seamless, sustainable, digital-first abilities that enhance people's safety while they are on the move with their properties or goods.

Denso is a leading supplier of OEM safety and communications technology. Among the company's cutting-edge connectivity products include advanced infrastructure sensor technology designed to reduce traffic congestion & collisions, improve vehicle & pedestrian safety as well prioritize emergency vehicles April 2024

AUO announced the completion of the BHTC acquisition, thereby consolidating its role as a leading supplier of smart mobility services

With the advent of smart self-driving cars and rapid change within the automotive industry, AUO seeks to transition from being just a display provider into becoming full-service provider associated with intelligent transportation systems while establishing global industry clusters actively responding to local demands coming from automakers so far served by it. By integrating these two entities together, AUO not only expands its presence across broader spectrum but also ensures optimal allocation of resources between them thereby achieving shallower operational depths along three strategic dimensions, namely customer products as well deployment.

Scope of the Report

By Element

• Bike Commuting


• Car Sharing


• Ride Sharing

By Solution Type

• Traffic Management


• Parking Management


• Mobility Management


• Others

By Technology

• 3G & 4G


• Wi-Fi


• Global Positioning System (GPS)


• Radiofrequency Identification (RFID)


• Embedded System


• Others

By Region

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa