Smart Mobility Market: Current Analysis and Forecast (2022-2030)

Report Description

Smart Mobility Market was valued at USD 45 billion in 2021 & is expected to grow at a CAGR of 20.0% from 2022-2030. As these technologies become more affordable and reliable, they are likely to become more widely adopted. Moreover, Consumers are increasingly looking for connected experiences, and this includes transportation. Smart mobility solutions, such as smartphone apps that allow users to hail rides or track public transportation, can provide this connectivity. Additionally, Governments around the world are implementing policies and regulations to encourage the adoption of smart mobility solutions. For example, many cities are implementing congestion pricing to discourage driving in urban areas and offer incentives for electric vehicles. For instance, February 2023: Waymo announced the launch of a commercial autonomous ride-sharing service in Phoenix, Arizona. The service, called Waymo One, will offer rides to the public using Waymo’s self-driving technology.

Some of the major players operating in the market include Cisco Systems, Inc., Excelfore., Innoviz Technologies Ltd., Siemens, MaaS Global Oy, TOYOTA MOTOR CORPORATION, TOMTOM INTERNATIONAL N.V, Robert Bosch GmbH, FORD MOTOR COMPANY, and QUALIX INFORMATION SYSTEM

Insights Presented in the Report

“Amongst elements, the bike commuting segment held significant growth in the market.”

Based on elements, the market is segmented into bike commuting, car sharing, and ride sharing. Amongst these, the bike commuting segment held significant growth in the market in 2021. This is because bike commuting can be a cost-effective transportation option, particularly in urban areas where parking and fuel costs can be high. This can make it an attractive option for people who are looking to save money on transportation costs. Additionally, bike commuting can help to reduce traffic congestion and improve traffic flow, particularly in urban areas where roads can be crowded. This can help to improve the efficiency of transportation systems and reduce travel times.

“Amongst solution type, the wireless smart mobility technology held significant growth in the market.”

On the basis of solution type, the market is segmented into traffic management, parking management, mobility management, and others. Among these, wireless smart mobility technology captured the majority share of the smart mobility market in 2021. The major share of the wireless smart mobility technology can be attributed to the capabilities and features offered such as mobile connectivity, connectivity regardless of location, and more by protocols such as ZigBee, Wi-Fi, Bluetooth, Z Wave, and others.

“Asia-Pacific is expected to grow at the highest CAGR during the forecasted period.”

Asia Pacific has significant growth in the smart mobility market due to the rapidly growing population and urbanization, which is driving demand for more efficient and sustainable transportation options. This includes demand for public transportation, ride-sharing services, and other shared mobility solutions. Additionally, this region has a large and diverse population, which generates significant demand for smart mobility solutions that improve mobility and accessibility for people with disabilities. This region is home to several innovative companies and startups that are developing and deploying smart mobility solutions. This includes companies working on autonomous vehicles, electric vehicles, and other cutting-edge technologies. Overall, Asia Pacific’s rapidly growing population, urbanization, and innovation ecosystem, along with its well-established infrastructure, have all contributed to its significant growth in the smart mobility market. For instance, in March 2023: Toyota announced plans to invest 1.28billion in a new electric vehicle battery plant in Thailand. The plant will produce batteries for Toyota′s electric vehicles as well as for other companies.

 Smart Mobility Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global smart mobility market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Smart Mobility Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global smart mobility market were the three major steps undertaken to create and analyze the adoption of smart mobility in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global smart mobility market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the smart mobility market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the smart mobility market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as elements, technology, and solution type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the smart mobility market. Further, we conducted factor analysis using dependent and independent variables such as product, technology, and end-users of the smart mobility market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the smart mobility market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global smart mobility market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the smart mobility market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global smart mobility market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global smart mobility market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global smart mobility market.

The main objective of the Global Smart Mobility Market Study

The current & future market trends of the global smart mobility market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the smart mobility market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the elements, technology, and solution type
• Define and analysis of the regulatory framework for the smart mobility industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the smart mobility market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the smart mobility market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team