PUBLISHER: The Business Research Company | PRODUCT CODE: 1751119
PUBLISHER: The Business Research Company | PRODUCT CODE: 1751119
Smart mobility involves the integration of advanced technologies and innovative transportation solutions to enhance the efficiency, sustainability, and user experience of moving people and goods. It utilizes intelligent tools to optimize traffic flow, minimize environmental impact, and improve the overall travel experience.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The smart mobility market includes several key segments such as integrated mobility platforms, smart transportation solutions, connected vehicle solutions, mobility as a service (MaaS), and traffic management systems. Integrated mobility platforms are digital systems or applications that unify multiple transportation services into one cohesive platform. The technologies supporting smart mobility include the Internet of Things (IoT), artificial intelligence (AI), blockchain, big data analytics, and cloud computing. Modes of transportation span public transport, private vehicles, shared mobility, electric vehicles, and rail transport. The market serves a range of end-users, including governments, transportation service providers, fleet operators, corporations, and individuals.
The smart mobility market research report is one of a series of new reports from The Business Research Company that provides smart mobility market statistics, including smart mobility industry global market size, regional shares, competitors with a smart mobility market share, detailed smart mobility market segments, market trends and opportunities, and any further data you may need to thrive in the smart mobility industry. This smart mobility market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart mobility market size has grown rapidly in recent years. It will grow from$52.83 billion in 2024 to $62.27 billion in 2025 at a compound annual growth rate (CAGR) of 17.9%. The growth during the historic period can be attributed to a rising urban population, escalating fuel costs, growing government support for sustainable transportation, heightened environmental concerns, and increased investments in public transport infrastructure.
The smart mobility market size is expected to see rapid growth in the next few years. It will grow to$118.59 billion in 2029 at a compound annual growth rate (CAGR) of 17.5%. The growth during the forecast period can be attributed to the rising adoption of electric vehicles, growing demand for autonomous driving technologies, increased integration of AI and machine learning in mobility solutions, greater penetration of 5G connectivity, and expanding investments in smart infrastructure. Key trends expected in the forecast period include advancements in electric vehicle battery technology, progress in vehicle-to-everything (V2X) communication, innovations in AI-powered navigation and routing, the rise of data-driven urban planning, and the integration of shared mobility with public transportation systems.
The increasing implementation of smart city initiatives is expected to drive the growth of the smart mobility market. A smart city refers to an urban environment that leverages digital technologies and data-driven solutions to improve residents' quality of life, enhance public services, and foster sustainable urban development. The expansion of smart city initiatives is largely driven by rapid urbanization and the necessity for sustainable infrastructure. As urban populations grow, cities face rising pressure on transportation systems, utilities, and essential services. Smart mobility in smart cities applies innovative technologies to optimize transit systems, minimize congestion, and support eco-friendly transportation. This includes smart traffic management, electric vehicles, shared mobility platforms, and autonomous transportation-each aimed at improving urban mobility and environmental impact. For example, in June 2023, Cities Today, a UK-based publication, reported that the German federal government allocated €820 million ($918.4 million) to support smart city and region initiatives, funding 73 model projects that provide best practices for 11,000 municipalities across Germany. Thus, the advancement of smart city efforts is fueling the smart mobility market's expansion.
Leading companies in the smart mobility sector are increasingly incorporating artificial intelligence (AI) to improve safety, operational efficiency, and sustainability. AI enhances smart mobility by analyzing real-time data to optimize traffic flow, reduce congestion, support predictive maintenance, and enable intelligent route planning. For instance, in September 2023, Hyundai Motor Company, a U.S.-based automotive manufacturer, introduced the Venue and Venue N Line in India. These models feature advanced driver assistance systems (ADAS), making them the most affordable SUVs with such technology in the sub-4-meter segment. ADAS integration is aimed at improving road safety and addressing consumer demand for technologically advanced, budget-friendly compact SUVs. Hyundai's blend of innovation and affordability positions it competitively against rivals such as Tata Nexon and Maruti Suzuki Brezza.
In May 2023, Siemens, a Germany-based technology firm, acquired Mass-Tech Controls Private Limited for ₹380 million ($4.40 million). This acquisition is part of Siemens' strategy to bolster its eMobility offerings in India by incorporating Mass-Tech Controls' expertise in power infrastructure and electric vehicle (EV) charging solutions. The move is expected to accelerate the rollout of sustainable and high-performance EV charging infrastructure across the country. Mass-Tech Controls Private Limited is an India-based power systems company specializing in low- and medium-voltage equipment and EV charging technology.
Major players in the smart mobility market are Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, General Motors, Bayerische Motoren Werke AG, Hyundai Motor Company, Robert Bosch GmbH, Siemens AG, Intel Corporation, Cisco Systems Inc., Skoda Auto AS, Uber Technologies Inc., Lyft Inc., TomTom International BV, Waymo LLC, Lime Electric Scooter Sharing Company, Gett Inc, Mindteck, QuaLiX Information System LLP, Excelfore Corporation, Innoviz Technologies Ltd.
North America was the largest region in the smart mobility market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in smart mobility report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the smart mobility market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart mobility market consists of revenues earned by entities by providing services such as ride-sharing, car-sharing, bike commuting, traffic management, parking solutions, and mobility management. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart mobility market also includes sales of electric vehicles (EVs), autonomous vehicles and connected vehicles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Mobility Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart mobility market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart mobility ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart mobility market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.