Smart Mobility Market: Overview
The global smart mobility market size was worth USD 47.90 billion in 2021 and is estimated to grow to USD 243.47 billion by 2030, with a CAGR of approximately 19.80 percent over the forecast period.
Smart mobility entails using modern technologies to provide people with an efficient, sustainable, and resilient form of transportation. This includes on-demand ride services, the adoption of electric cars (EVs), and shared transportation services, all of which help to streamline urban economies while enhancing road safety. Furthermore, it contributes to economic progress by delivering intelligent and environmentally pleasant transportation services to the masses. As a result, it aids in improving traffic management and efficiently managing parking lots while lowering greenhouse gas (GHG) emissions. The growing public concern over the environment is the main factor driving the global market. Due to this, the adoption of shared services and electric vehicles (EVs) has increased globally, favoring market expansion. Additionally, the transportation industry’s ongoing technological developments foster an optimistic outlook for the business. A significant growth-inducing aspect is a pervasive integration of artificial intelligence (AI), cloud-based services, and the internet of things (IoT) with smart mobility solutions. Furthermore, quick digitization and high-speed internet connectivity are helping the market flourish.
Smart Mobility Market Drivers:
Urbanization is a key long-term driver of the smart mobility market due to population growth. As the population expands, so does the average density of urban regions. Metropolitan regions are expected to develop by approximately 30% by 2030. As a result, there will be an increase in demand for mobility. Suppose the number of passenger miles driven per person remains constant compared to today, and the GDP growth of car ownership maintains consistency with historical records. In that case, these two factors will ensure a doubling of mobility demands. The world’s population is expected to live in cities by 2050, increasing demand for the transportation sector.
Smart Mobility Market: Restraints
Ride-hailing services rely on three parties to function: drivers, passengers, and service providers. All procedures, including matching riders and drivers, fare estimation and calculation, ride payment, and reputation management, are carried out using a smartphone with internet access. However, some nations, such as Eritrea, Chad, Burundi, and Somalia, have limited internet penetration, which hampers the growth of the smart mobility market in these areas. As a result, limited internet connectivity penetration in developing regions stifles the development of the smart mobility industry in those regions.
Smart Mobility Market: Segmentation
The global smart mobility market has been segmented into elements, solutions, technology, and end user.
Based on the elements, the market is divided into ride-sharing, car-sharing, and bike commuting. Among these, the ride-sharing segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. The increase is attributed to internet penetration in developing nations and individuals worldwide. In addition, the emergence of new services to ensure maximum customer pleasure is projected to act as a driving force in the segment’s growth. On the other hand, the bike-sharing category is anticipated to grow significantly over the forecast period. Furthermore, two-wheeler services are projected to grow in the next years because they are regarded as the quickest and most efficient means to commute on congested metropolitan streets.
Based on the end user, the market is classified into civil work, business development, academics, municipal sectors, and others. In 2021, the business development category dominated the global market because of faster technology; sharing has been easier through technological solutions, as has productivity and market rate. Alternative modes of mobility include electrically powered vehicles and bicycles with enhanced electrification systems. On the other hand, the civil work category is expected to grow significantly. During the forecast period, the market rose due to civil work.
Smart Mobility Market: Regional Landscape
In 2021, the Asia Pacific dominated the market for smart mobility. This expansion can be ascribed to the region’s rapid population growth, as well as expanding urbanization tendencies, which are fueling consumer demand for smart transportation solutions. Furthermore, in countries such as India, where 70% of the population is forecast to live in cities by 2050, mobility requirements are expected to create difficulties such as air pollution and congestion, which is expected to raise demand for smart mobility solutions in the region. These factors are expected to favor the growth of the Asia Pacific smart mobility sector.
Smart Mobility Market: Competitive Landscape
Some of the main competitors dominating the global smart mobility market include- TOYOTA motor corporation, Excel fore, Cisco Systems, Inc., Ford Motor Company, Siemens, Robert Bosch Gmbh, Qualix information System, Maas Global Oy, Tom Tom International N.V and Innoviz technologies.
Recent Developments
- March 2022: Vogo, a two-wheeler shared mobility startup, was acquired by Chalo, a smartphone application with a Bangalore address that allows for bus booking and tracking across cities. Vogo has intended to convert all of its vehicles to EVs (electric vehicles), expand services beyond two wheels, and provide additional EV models to meet market demands as part of this acquisition.
COVID-19 Impact on Smart Mobility Market:
The COVID-19 pandemic has caused the smart mobility market to decline in 2020, and it is predicted that growth will be slower in 2021 as well. This decline is attributable to the worldwide decline in demand for ride-sharing and carpooling. In addition, to lessen the spread of the virus, the various governments in respective nations have halted various activities and human mobility. As a result, transportation services have been suspended, and demand for smart mobility has begun to fall.
Global Smart Mobility Market is segmented as follows:
Smart Mobility Market by Element
- Ridesharing
- Car sharing
- Bike commuting
Smart Mobility Market by Solutions
- Management of traffic
- Management of parking
- Management of mobility
- Others
Smart Mobility Market by Technology
- 3G and 4G
- Wi-Fi
- GPS
- RFID
- Embedded system
- Others
Smart Mobility Market by End User
- Civil work
- Business development
- Academics
- Municipal sectors
- Others
Smart Mobility Market by Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
| Smart Mobility Market Report Scope |
| Report Attribute | Details |
| Market Size Value in 2022 | USD 57.38 billion |
| Revenue Forecast in 2030 | USD 243.47 billion |
| Growth Rate | CAGR of 19.80 % from 2022 to 2030 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 – 2021 |
| Forecast Years | 2022 – 2030 |
| Quantitative Units | Revenue in USD million and CAGR from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, Trends
competitive landscape, and growth factors |
| Segments Covered | Element, Solutions, Technology, End User, and Region |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled | TOYOTA motor corporation, Excel fore, Cisco Systems, Inc., Ford Motor Company, Siemens, Robert Bosch Gmbh, Qualix information System, Maas Global Oy, Tom Tom International N.V and Innoviz technologies |
Table of Content
Smart Mobility Market Size, Share, Growth, and Forecast Report
1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Element
1.4.2. Solutions
1.4.3. Technology
1.4.4. End User
2. Smart Mobility Market Overview
2.1. Introduction
2.2. Analysis by Element, 2017-2030 (US$ Billion)
2.3. Analysis by Solutions, 2017-2030 (US$ Billion)
2.4. Analysis by Technology, 2017-2030 (US$ Billion)
2.5. Analysis by End User, 2017-2030 (US$ Billion)
2.6. Market Analysis by Region, 2017-2030 (US$ Billion)
3. Smart Mobility Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Elements
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Element
3.6.2. Solutions
3.6.3. Technology
3.6.4. End User
3.6.5. Region
3.7. Value Chain Analysis
4. Smart Mobility Market Competition Analysis
4.1. Smart Mobility Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion, and Distribution
5. Global Smart Mobility Market Analysis by Element and End User, 2017-2030 (US$ Billion)
5.1. Element
5.1.1. Global Smart Mobility Market Share, by Element, 2021 and 2030
5.1.2. Global Smart Mobility Market Revenue, by Element, 2017-2030 (US$ Billion)
5.1.3. By Ridesharing Market Analysis 2017-2030 (US$ Billion)
5.1.4. By Car sharing Market Analysis 2017-2030 (US$ Billion)
5.1.5. By Bike commuting Market Analysis 2017-2030 (US$ Billion)
5.2. Solutions
5.2.1. Global Smart Mobility Market Share, by Solutions, 2021 and 2030
5.2.2. Global Smart Mobility Market Revenue, by Solutions, 2017-2030 (US$ Billion)
5.2.3. By Management of traffic Market Analysis 2017-2030 (US$ Billion)
5.2.4. By Management of parking Market Analysis 2017-2030 (US$ Billion)
5.2.5. By Management of mobility Market Analysis 2017-2030 (US$ Billion)
5.2.6. By Others Solutions Market Analysis 2017-2030 (US$ Billion)
5.3. Technology
5.3.1. Global Smart Mobility Market Share, by Technology, 2021 and 2030
5.3.2. Global Smart Mobility Market Revenue, by Technology, 2017-2030 (US$ Billion)
5.3.3. By 3G, 4G, and 5G Market Analysis 2017-2030 (US$ Billion)
5.3.4. By Wi-Fi Market Analysis 2017-2030 (US$ Billion)
5.3.5. By GPS Market Analysis 2017-2030 (US$ Billion)
5.3.6. By RFID Market Analysis 2017-2030 (US$ Billion)
5.3.7. By Embedded system Market Analysis 2017-2030 (US$ Billion)
5.3.8. By Others Technology Market Analysis 2017-2030 (US$ Billion)
5.4. End User
5.4.1. Market Share, by End User, 2021 and 2030
5.4.2. Market Revenue, by End User, 2017-2030 (US$ Billion)
5.4.3. By Civil work Market Analysis 2017-2030 (US$ Billion)
5.4.4. By Business Development Market Analysis 2017-2030 (US$ Billion)
5.4.5. By Academics Market Analysis 2017-2030 (US$ Billion)
5.4.6. By Municipal sectors Market Analysis 2017-2030 (US$ Billion)
5.4.7. By Others End User Market Analysis 2017-2030 (US$ Billion)
6. Global Smart Mobility Market Element Analysis by Region, 2017-2030 (US$ Billion)
6.1. Ridesharing Market Analysis 2017-2030 (US$ Billion)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Car sharing Market Analysis 2017-2030 (US$ Billion)
6.3. Bike commuting Market Analysis 2017-2030 (US$ Billion)
7. Global Smart Mobility Market Solutions Analysis by Region, 2017-2030 (US$ Billion)
7.1. Management of traffic Market Analysis 2017-2030 (US$ Billion)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Management of parking Market Analysis 2017-2030 (US$ Billion)
7.3. Management of mobility Market Analysis 2017-2030 (US$ Billion)
7.4. Others Solutions Market Analysis 2017-2030 (US$ Billion)
8. Global Smart Mobility Market Technology Analysis by Region, 2017-2030 (US$ Billion)
8.1. 3G, 4G, and 5G Market Analysis 2017-2030 (US$ Billion)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Wi-Fi Market Analysis 2017-2030 (US$ Billion)
8.3. GPS Market Analysis 2017-2030 (US$ Billion)
8.4. RFID Market Analysis 2017-2030 (US$ Billion)
8.5. Embedded system Market Analysis 2017-2030 (US$ Billion)
8.6. Others Technology Market Analysis 2017-2030 (US$ Billion)
9. Global Smart Mobility Market End User Analysis by Region, 2017-2030 (US$ Billion)
9.1. Civil work Market Analysis 2017-2030 (US$ Billion)
9.1.1. North America
9.1.2. Europe
9.1.3. Asia Pacific
9.1.4. Latin America
9.1.5. Middle East & Africa
9.2. Business Development Market Analysis 2017-2030 (US$ Billion)
9.3. Academics Market Analysis 2017-2030 (US$ Billion)
9.4. Municipal sectors Market Analysis 2017-2030 (US$ Billion)
9.5. Others End User Market Analysis 2017-2030 (US$ Billion)
10. Smart Mobility Market Analysis by Geography, 2017-2030 (US$ Billion)
10.1. North America Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.1.1. U.S. Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.1.1.1. Element
10.1.1.2. Solutions
10.1.1.3. Technology
10.1.1.4. End User
10.1.2. Canada Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.1.3. Mexico Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.2. Europe Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.2.1. UK Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.2.1.1. Element
10.2.1.2. Solutions
10.2.1.3. Technology
10.2.1.4. End User
10.2.2. France Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.2.3. Germany Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.2.4. Spain Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.2.5. Russia Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.2.6. Italy Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.2.7. Rest of Europe Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3. Asia Pacific Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3.1. China Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3.1.1. Element
10.3.1.2. Solutions
10.3.1.3. Technology
10.3.1.4. End User
10.3.2. Japan Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3.3. South Korea Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3.4. India Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3.5. Australia Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3.6. Southeast Asia Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3.7. Taiwan Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.3.8. Rest of Asia Pacific Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.4. Latin America Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.4.1. Brazil Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.4.1.1. Element
10.4.1.2. Solutions
10.4.1.3. Technology
10.4.1.4. End User
10.4.2. Argentina Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.4.3. Rest of Latin America Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.5. Middle East Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.5.1. Israel Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.5.1.1. Element
10.5.1.2. Solutions
10.5.1.3. Technology
10.5.1.4. End User
10.5.2. Turkey Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.5.3. Saudi Arabia Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.5.4. UAE Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.5.5. Rest of Middle East Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.6. Africa Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.6.1. Egypt Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.6.1.1. Element
10.6.1.2. Solutions
10.6.1.3. Technology
10.6.1.4. End User
10.6.2. South Africa Smart Mobility Market Analysis 2017-2030 (US$ Billion)
10.6.3. Rest of Africa Smart Mobility Market Analysis 2017-2030 (US$ Billion)
11. Company Profiles
11.1. TOYOTA motor corporation
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Strategic Initiatives
11.2. Excel fore
11.3. Cisco Systems, Inc.
11.4. Ford Motor Company
11.5. Siemens
11.6. Robert Bosch Gmbh
11.7. QuaLiX Information System
11.8. Maas Global Oy
11.9. Tom Tom International N.V
11.10. Innoviz technologies.
12. COVID-19 Impact Analysis
12.1. Global Smart Mobility Market, 2020 – 2030, Pre-V/S Post COVID 19
12.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Smart Mobility Market Size In 2022, By Scenario
13. Conclusion
