Global smart mobility market revenue to reach $20.14 billion by 2023
Impact of regulations, rapid urbanization, growing demand for smart cities, and smart mobility categories are expected to drive the market.
Infoholic Research LLP, a global market research, and consulting organization, has published a study titled “Global smart mobility market: Drivers, Opportunities, Trends, and Forecasts, 2017–2023” (September 2017).
According to Infoholic Research, smart mobility means using technology to a greater extent in the transportation industry and these are often considered as a tool to achieve sustainable cities. Smart mobility services evolved in the recent years owing to the rise in population, urbanization, growing environment concerns, and technology innovations. Smart mobility solutions are being identified as a necessary infrastructure to develop smart cities along with smart power.
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Smart mobility solutions convert a mono-modal transport system to a multi-modal transport system, which increases the flexibility and convenience of a travel. It allows passengers to plan their traveling with more advanced transportation systems such as on-demand services, ride-sharing, safe traveling, intelligent parking systems, and others. Smart mobility solutions could be more focused by the governments to reduce carbon emissions in order to promote sustainability.
The global smart mobility market is expected to grow at a CAGR of 19.9% during the forecast period 2017–2023.
The report discusses about the services, solutions, and technologies used in the smart mobility market. The solutions segment includes traffic management solutions, infrastructure, mobility intelligence, and customer mobility. The solutions market is expected to grow at a higher CAGR during the forecast period, 2017–2023.
The traffic management solutions are divided into intelligent transportation system, real-time traffic analysis, and traffic prediction; the infrastructure includes charging stations, e-parking, and intermodal mobility; the mobility intelligence includes smart maps, secured communication, and fleet management/ logistics; customer mobility includes mobility planning, ride-sharing, robocabs, and fare payment/collection.
The solutions market consists of several innovative smart mobility technologies ranging from infrastructure to platforms. This segment also includes intelligent transport system, real-time traffic management, and traffic prediction solutions. These solutions are at a higher demand from the commercial vendors and fleet management companies as they require more advanced solutions to monitor the traffic and set their route accordingly. The mobility platforms, such as on-demand and car-sharing services, are also at a higher demand. Several e-commerce vendors, such as Uber, Ola, Lyft, and others, have entered this space and are offering services across the globe. Apart from offering their services, these companies are building the culture of sharing services, which is an important concept for the development of shared economy.
EV-chargers, smart maps, and secured communications are the major infrastructure used in building the smart mobility solutions and the demand for R&D in this perspective is increasing owing to the need for more efficient and secured technologies. Robocabs/commercialized autonomous vehicles are a key area of improvement and several companies like GM, Ford, Toyota, Tesla, and others are focusing on developing their autonomous vehicle capabilities for commercialization.
The technology segmentation includes 3G and 4G, Wi-Fi, GNSS/GPS, RFID, embedded systems, and others. RFID is at a higher demand owing to its wide functionalities in traffic management. RFID collects the data of several signal management systems and posts it to the data centre, which helps in building more accurate traffic monitoring and prediction tools. GNSS/GPS offers route mapping and quick destination mapping services and these are also used in predictive and real-time traffic management solutions. Embedded technologies are used for building electronic systems that required for building the connectivity.
The services platform is segmented into consulting service provider, integration service provider, maintenance service provider, and others. The consulting and integration services are expected to be in higher demand owing to the implementation of pilot projects and the increasing trend for partnerships between smart cities and technology developers and service providers to gain the revenue in the smart cities era.
The Americas, Europe, APAC, and ROW are considered in the report. The Americas is the leading adopter of smart mobility technologies as the countries in this region are widely adopting digital technologies due to the focus on implementing smart cities, followed by Europe and APAC. The US, the UK, Canada, Spain, and China are some of the leading consumers for the smart mobility technology, as they are supported by the government policy and due to the growing trend for using advanced technology in traveling and others.
“Smart mobility technologies are expected to expand by 80% in the urban regions in the next 5-6 years across the regions. The Americas and Europe would remain as the leading adopters of smart mobility solutions till 2025, post that APAC will become the leading adopter as there will be a huge demand for infrastructure development in the region.” Srujan, Research Analyst at Infoholic Research
Buy complete report on Global smart mobility market: Drivers, Opportunities, Trends, and Forecasts, 2017–2023
The report covers the present scenario and the growth prospects of global smart mobility market during the forecast period 2017–2023. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report provides details about the global smart mobility market
- The report is analyzed based on services, solutions, technology, and regions
- The report covers smart mobility solution types, namely traffic management, infrastructure, mobility intelligence, and customer mobility
- Traffic management includes intelligent transportation system, real-time traffic analysis, and traffic prediction
- Infrastructure includes charging stations, e-parking, and intermodal mobility
- Mobility intelligence includes smart maps, secured communication, and fleet management/logistics
- Customer mobility includes mobility planning, ride-sharing, robocabs, and fare payment/collection
- Technology segment covers, 3G and 4G, Wi-Fi, GNSS/GPS, RFID, embedded systems, and others
- Services platform segment includes consulting service provider, integration service provider, maintenance service providers, and others
- The report covers the implementation of smart mobility technologies in four regions, namely Americas, Europe, Asia, and Rest of the world
- The report covers the evolution of smart mobility, features, advantages, and its importance
- The report also covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2017–2023)
- It also contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views
- The report covers competitive landscape, which includes mergers & acquisitions, joint ventures & collaborations, and competitor comparison analysis