Smart Mobility Market Size, Share Global Analysis Report, 2023–2030

Industry Insights

[219+ Pages Report] According to the report published by Facts & Factors, the global smart mobility market size was valued at 48.7 billion in 2022 and is anticipated to surpass USD 243 billion during the predicted period. The market is expected to grow with a CAGR of 19.55% between 2023-2030. The global smart mobility market report offers detailed insights into the market dynamics. It presents comprehensive projections on growth drivers, restraining factors, lucrative opportunities, and challenges.

Market Overview

The world is on the brink of the fourth industrial revolution, which is expected to result in considerable advancements in the way technology is used in automobiles. In the previous few years, smart mobility has grown at an exponential rate. This was largely owing to the invention and integration of several advancements ranging from artificial intelligence to big data, cellular networking to the internet, and embedded devices, semiconductors, and sensors, among others.

By 2040, it is predicted that roughly half of the world's population will be living in cities, increasing the demand for smart mobility solutions. Electrification, Autonomy, Shared Mobility, and Connectivity are the components that influence smart mobility. Each of these components is expected to have an individual impact on the mobility sector. Automobile systems designed around individual mobility in the future would have all these four components to reduce traffic congestion, increase road safety and make transportation more accessible and affordable.

Industry Growth Factor

The internet has advanced our world and brought us closer together digitally. Because of our reliance on the internet, there is a greater demand for a more seamless connectivity experience. Users expect connectivity while traveling, and transportation system business organizations or government authorities managing a fleet of public transportation vehicles are aware of this necessity.

Many organizations have taken initiatives to improve connectivity for people traveling by subway or train by installing subterranean broadband that offers Wi-Fi connectivity. Other amenities for public transportation have been modified to promote digital ticketing, increased safety and security, and solutions that provide data for smart travel decisions.

Information made available to users through connectivity can help them make smart travel plans. This data comes from access to big data gathered through a variety of user experiences, infrastructure that uses IoT as an application, and end-users who employ artificial intelligence. Big data is studied to determine user trends and patterns, which aids in infrastructure enhancement to provide a simple and efficient experience of mobility.

Segmentation Analysis

The study provides a decisive view of the global smart mobility market by segmenting it based on transport sector, technology, charging infrastructure, mobility intelligence, customer mobility, and geographic regions. The transport sector segment is categorized into electric cars, electric buses, and autonomous vehicles. 3G/4G, WI-FI, GPS, RFID, and Embedded Systems is the technology segment of the global smart mobility market.

To offer better target customer analysis, our analyst further bifurcates charging infrastructure segment into in-house, public charging stations, e-parking, and intermodal mobility. The mobility intelligence segment is categorized into smart map secured communication, and fleet management. In addition, to understand the industry, our analyst classified customer mobility segments by smart payment, smart parking, ride-sharing, and robocabs.

Report Scope

Regional Analysis

Based on regions, the global smart mobility market can be divided into five main regions namely North America, Europe, Asia Pacific, Latin America, and The Middle East, and Africa.

Urbanization is one of the key drivers that has led to the adoption of smart mobility. The increased demand of connectivity and technology in transportation has grown the smart mobility market. The European Market has been an early adopter of smart mobility solutions and thus is expected to be the fastest-growing and largest market globally. 

The country once known more for technological imitation than innovation is now one of the global leader in electric vehicles and other next-generation mobility products. It is estimated that the Chinese market is set to generate 40% of combined revenues globally over the forecast period. Drivers, riders, and service providers are all required for ride-hailing services.

All operations, including matching riders with drivers, fare estimation, and ride payment, are carried out on a smartphone with internet access. Eritrea, Burundi, Chad, and Somalia, for example, have limited internet penetration, which limits the expansion of the smart mobility market in these countries. The limited penetration of internet connectivity in emerging nations is also hindering the growth in the intelligent mobility market in these places.

Competitive Players

• Cisco Systems Inc.
• Ford Motor Company
• Robert Bosch GmbH
• Siemens AG
• TomTom N.V.
• Toyota Motor Corporation
• Excelfore Corporation
• Innoviz Technologies
• Thales Group S.A.
• MaaS Global Oy

The global smart mobility market is segmented into:

By Transport Sector Segment Analysis

• Electric Cars
• Electric Buses
• Autonomous Vehicles

By Technology Segment Analysis

• 3G/4G
• WI-FI
• GPS
• RFID
• Embedded Systems

By Charging Infrastructure Segment Analysis

• In-House
• Public Charging Station
• E-Parking
• Intermodal Mobility

By Mobility Intelligence Segment Analysis

• Smart Map
• Secured Communication
• Fleet Management

By Customer Mobility Segment Analysis

• Smart Payment
• Smart Parking
• Ride Sharing
• Robocabs

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa