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Jun 14, 2023

Smart Mobility Market Size, Share, Report Overview and Forecast 2023

Industry Overview of Smart Mobility Market Smart mobility refers to a network

Industry Overview of Smart Mobility Market

Smart mobility refers to a network that usually involves the use of advanced technologies to offer sustainable, efficient, and resilient modes of transportation to individuals. It also includes the utilization of public conveyance, shared transportation services, electric vehicles (EVs), and on-demand ride solutions that aid in streamlining urban economies while improving road safety facilities. In addition to this, smart mobility assists in providing eco-friendly commutation services and minimizes pollution levels. As a result, it enhances the traffic management system and handles parking areas efficiently while reducing greenhouse gas (GHG) emissions.

How Big Is the Smart Mobility Market?

According to the new market research report by IMARC Group the global smart mobility market reached a value of US$ 51.3 Billion in 2022. It is projected to reach a value of US$ 135.6 Billion by 2028, exhibiting a CAGR of 16.55% during 2023-2028.

Global Industry Trends and Drivers:

The escalating demand for shared services and electronic vehicles (EVs) across the globe, owing to the increasing consumer environmental concerns, is among the primary factors driving the smart mobility market. Besides this, the widespread adoption of on-demand transportation solutions, on account of their flexibility, cost-effectiveness, easy availability, etc., is further augmenting the market growth. Moreover, the growing integration of Artificial Intelligence (AI), cloud-based solutions, and the Internet of Things (IoT) with smart mobility is catalyzing the global market. Apart from this, the launch of several subsidy programs by government bodies across countries to encourage the utilization of advanced technologies is acting as another significant growth-inducing factor. Additionally, the inflating levels of urbanization, continuous improvements in the automotive industry, and extensive investments in R&D activities conducted by key market players are also stimulating the market growth. In line with this, the increasing penetration of high-speed internet connectivity is expected to bolster the smart mobility market in the coming years.

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Key Market Segmentation:

The report provides detailed segmentation of the global smart mobility market based on based on product, distribution channel and application and region.

Breakup by Technology:

Breakup by Solution:

Breakup by Element:

Breakup by Region:

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.

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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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