Global Smart Mobility Market Worth USD 3297 bn by 2028

Amsterdam, NL - March 24, 2020 -

Smart Mobility is part of urban transit networks that use emerging and integrated technologies and models that are economically efficient, improve people's quality of life and promote sustainable growth. The Smart Mobility Market has experienced substantial growth over the last few years and is expected to increase further over the projected period (2020-2028). Smart Mobility has resulted innumerouslong-term investments and technology advances in markets such as connectivity, electrification, automation and shared mobility that are expected to drive the industry at an accelerated pace. Technologies like IoT, Big Data, Artificial Intelligence and Robotics are expected to usher in the fourth industrial revolution. This growth in the smart mobility market is complemented by the growth in allied technologies like Artificial Intelligence, Internet of Things, Big Data and Robotics. The decrease in the cost of hardware, the evolution of network communication technology, growth in the support infrastructure, high mobile adoption and internet penetration are some of the key drivers which would drive the smart mobility market. A large number of machines would be embedded with sensors in the automotive sector to help maintain the traffic conditions and take better decisions while on journey.

Europe is expected to account for one third of the smart mobility market with an estimated revenue of USD 1087.9 Billion. APAC is another market where the bulk of innovation would take place. However, APAC, at a CAGR of 29.9% is expected to be the fastest growing market during the forecast period and with an estimated revenue of around USD 890.1 Billion in 2028, is expected to emerge as the largest market by the end of the forecast period. China is expected to emerge as the largest IoT market with in APAC while India is expected to see the fastest growth. Technologies such as 3G/4G/5G, WI-FI, RFID, Embedded Systemsto name a few for network communication, MEMS sensors and cloud computing would be key to smart mobilitygrowth. Smart Mobility technology is one of the key factors for enabling smart cities. A number of cities around the world, which are called smart cities, have already adopted the smart mobility concept. Europe is expected to have around 300 smart cities by 2022. Smart Mobility, however, is also expected to face various issues in the next few years like that of data privacy, standardization, bottleneck and realization of return on investments.

The report titled “Smart Mobility” is segmented based on region, technology, and components. The regions are segmented as North America, Europe, APAC, Middle East, Latin America and Rest of the World. The country analysis chapter contains a detailed insight into the Smart Mobility support infrastructure of top 10 countries.

The Global Smart Mobility market is expected to grow from around USD 267.5 Billion in 2018 to USD 3296.71 Billion in 2028 at a CAGR of 29.33%. The Smart Transport Assets sector is expected to be the fastest growing sector at a CAGR of 35.5% during the forecast period 2020-2028.

The study period of the report titled “Global Smart Mobility Market Report” is 2018-2028 and the forecast period is 2020 -2028. The components covered in this report are traffic management, charging infrastructure, mobility intelligence, customer mobility, connectivity and smart transport assets.

Reasons to Buy
  • The report will help investment bankers and the financial institutions to understandthe overall market trend and the key dynamics that govern this market.
  • The report will help manufacturers to understand the key opportunity market and focus their efforts in those specific regions.
  • The report will help the top management team to take strategic decisions on opportunity analysis or market entry strategies.
  • The infrastructure and component suppliers in the Smart Mobility Market are expected to benefit from this report, the market forecast section would help them understand the market potential at the component level. The key start ups from the top ten countries have been discussed in detail in the Country Analysis section.
  • The key Smart Mobility Technologies have been discussed in detailed, this is one of the most comprehensive reports which discusses Smart Mobility technologies