According to a new report Global Smart Mobility Market, published by KBV research, The Global Smart Mobility Market size is expected to reach $91 billion by 2026, rising at a market growth of 18.4% CAGR during the forecast period.
The Ride Sharing market dominated the Global Smart Mobility Market by Element in 2019, and would continue to be a dominant market till 2026. The concept of utilizing various modes of transportation with an aim to travel from one place to another with zero utilization of personal vehicles is termed smart mobility. The smart mobility concept eradicates the utilization of owned vehicles by adopting different forms of transportation such as ride-sharing, using public transports, car-pooling, and bike-sharing. The increasing traffic congestion on the road & its associated side effects including pollution, time wastage during traffic jams & fatalities has supported the requirement for smart mobility. The Car Sharing market is experiencing a CAGR of 19% during (2020 - 2026).
The Traffic Management market dominated the Global Smart Mobility Market by Solution in 2019, growing at a CAGR of 17.5 % during the forecast period. The smart mobility market would witness bright prospects due to parameters such as supportive government initiatives for smart cities & increasing demand for on-demand transportation options. On the flip side, there are some obstacles to the growth of the smart mobility market including a low level of internet penetration in emerging regions & the risk of data hacking. The Parking Management market is poised to witness a CAGR of 18.1% during (2020 - 2026). Additionally, The Mobility Management market is expected to witness a CAGR of 19.2% during (2020 - 2026).
The North America market dominated the Global Smart Mobility Market by Region in 2019, growing at a CAGR of 17.9 % during the forecast period. The Europe market is exhibiting to witness a CAGR of 18.2% during (2020 - 2026). Additionally, The Asia Pacific market to showcase a CAGR of 19.1% during (2020 - 2026).
Full Report: https://www.kbvresearch.com/smart-mobility-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cisco Systems, Inc., Ford Motor Company, Robert Bosch GmbH, Siemens AG, TomTom N.V., Toyota Motor Corporation, Excelfore Corporation, Innoviz Technologies, Ltd., Thales Group S.A., and MaaS Global Oy.
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