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 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.
New York, April 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Mobility Market By Element, By Solution, By Technology, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06064819/?utm_source=GNW
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 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. Although, global smart mobility would witness a high number of growth avenues due to some of the determinants such as smart transportation frameworks & superior performance of autonomous vehicles.
Over the years, the demand for smart mobility has constantly been increasing. Though, the smart mobility market has recorded a major decline, due to the outbreak of the COVID-19 pandemic. The pandemic caused the increased ownership of vehicles in order to reduce the utilization of public transport & to decrease direct contact with other people.
Based on Element, the market is segmented into Ride Sharing, Car Sharing and Bike Commuting. Ridesharing procured the maximum revenue share in 2019, due to its massive adoption. Although, the car-sharing segment would display a promising growth rate during the forecast period, due to the massive adoption of car sharing, hence contributing to the growth of the global smart mobility market.
Based on Solution, the market is segmented into Traffic Management, Parking Management, Mobility Management and Others. The traffic management segment would garner the highest revenue share during the forecast period, due to its broad application in smart mobility around the world.
Based on Technology, the market is segmented into RFID, GPS, Embedded System, Wi-Fi, 3G & 4G and Others. The RFID market dominated the Global Smart Mobility Market by Technology in 2019, growing at a CAGR of 16.6 % during the forecast period. The GPS market is experiencing a CAGR of 18.7% during (2020 - 2026). The Embedded System market is estimated to grow at a CAGR of 19.8% during (2020 - 2026).
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America emerged as a leading region followed by Europe, Asia-Pacific, and LAMEA. In North America, U.S acquired a substantial revenue share in 2019 and would exhibit a prominent growth rate during the forecast period, due to a surge in adoption of the smart mobility concept.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Cisco Systems, Inc. and Toyota Motor Corporation are the forerunners in the Smart Mobility Market. Companies such as Siemens AG, TomTom N.V., Robert Bosch GmbH, Excelfore Corporation, and Ford Motor Company are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
Recent strategies deployed in Smart Mobility Market
Partnerships, Collaborations, and Agreements:
Feb-2021: Bosch came into collaboration with Microsoft. The companies worked on a software platform for vehicles. By utilizing cloud technology, the software platform ensures that vehicles’ control units and computers could get software throughout their lifetime.
Feb-2021: TomTom extended its partnership with Precisely, the global leader in data integrity. TomTom offers Precisely with its leading map and traffic datasets, assisting Precisely customers to use an important context to make better-informed, more confident business decisions. Precisely uses TomTom’s highly authentic map information and its historic and real-time traffic data. The map and traffic data could help financial services organizations decrease fraud, allow insurance companies to better operate location risk, and enhance targeted retail marketing campaigns by offering better customer insights.
Feb-2021: Toyota announced the development of a new smart city near the base of Mount Fuji that features interwoven streets and prioritized space for pedestrians and autonomous cars. The new city will feature three types of streets all linked together. One of them will be designated for self-driving vehicles only and the other two would set aside for pedestrians and pedestrians with mobility vehicles respectively. The underground routes enable goods to be delivered without disrupting other road users. This agreement was between Toyota and Japan’s Government.
Feb-2021: Toyota, along with Denso entered into a partnership with Aurora, a software company. Together, the companies aimed to design and build a fleet of autonomous taxis based on the Sienna minivan.
Dec-2020: Toyota established a new mobility company, Kinto Europe. The company was established through the joint venture between Toyota Motor Europe (TME) and Toyota Financial Services (TFS). Kinto aimed to manage a wide range of Kinto mobility services and products across Europe.
Oct-2020: Siemens came into collaboration with Transport for London. Under the collaboration, the entities launched a new adaptive traffic control solution, FUSION. The system is set to enter operation, where it will control several living laboratory trial sites in London. The new FUSION system utilizes richer data sources from various transport modes that include data from connected vehicles and buses.
Oct-2020: Siemens Energy signed a Memorandum of Understanding (MoU) with Siemens Mobility. The project focuses on jointly developing holistic hydrogen solutions for rail transport and providing them to customers to boost the hydrogen economy in Germany and Europe and reinforce decarbonization in the mobility industry.
Sep-2020: Thales came into contract with the Broadway Subway Constructors General Partnership (BSCGP). Following the contract, Thales is providing the signaling for the new Broadway Subway, a direct extension of the current Millennium Line that is equipped with Thales’ SelTrac CBTC signaling solution. The contract is based on the selection of BSCGP by the province of British Columbia to complete the design and construction of the line that will be managed and operated by British Columbia Rapid Transit.
Aug-2020: Excelfore signed a licensing agreement with Siemens Digital Industries Software. Under this agreement, Excelfore licensed its Ethernet networking protocols to Siemens for bringing advanced time-critical networking to automotive in-vehicle applications. This agreement followed various years of cooperative platform development between the two companies.
Aug-2020: Siemens Smart Infrastructure signed a contract with Go Bus, one of New Zealand’s largest bus operators. Under this contract, Siemens Smart Infrastructure received an order to power two of their bus depots with charging infrastructure for eBuses by Go Bus. The order meets two separate Go Bus contracts in Auckland and Christchurch. 25 electric buses in Christchurch will be charged by Siemens systems.
May-2020: MaaS Global extended its collaboration with PayiQ, an account-based multimodal mobile ticketing platform. The companies expanded their cooperation beyond MaaS, smart ticketing data, real-time public transport fleet information, intelligent ticketing analysis, and multi-modal adoptions with PayiQ’s Hop-on Hop-off. It made public transport secure for next-generation travelers. PayiQ’s innovation made inroads into MaaS for hands-free tickets.
Mar-2020: Toyota joined hands with NTT, Japan’s biggest automaker, and the country’s top telecom company. Together, the companies aimed to commercialize a smart city business that uses the widespread integration of next-generation technologies like cloud services, big data, automated mobility, robotics, and artificial technology.
Jan-2020: Siemens Digital Industries Software came into partnership with Arm, a leading technology provider. The partnership aimed to address the rising complex challenges facing the industry in developing platforms to recognize active-safety, advanced driver assistance, in-vehicle infotainment, digital cockpits, vehicle-to-vehicle/vehicle-to-infrastructure, and self-driving vehicles.
Jan-2020: TomTom joined hands with Hitachi Automotive Systems Americas. Under this collaboration, the companies integrated technological benefits to offer real-time updates on the location of road hazards, recognized by Hitachi Automotive Systems’ vehicle sensors, ECU (Engine Control Unit), and on-board DNN (Deep Neural Network), to navigation and ADAS applications running TomTom’s connected services.
Dec-2019: Thales entered into a contract with MTR Corporation, a majority state-owned Hong Kong company. Following this contract, Thales delivers the extension of the Sydney Metro to City and Southwest City project by offering a globally proven technology in Central Control and Communication solutions which are successfully operated on the Sydney Metro North West project.
Oct-2019: Bosch collaborated with Convergint, a global, service-based systems integrator. Together, the companies brought municipalities and cities advanced video analytics technology that brings intelligence to their infrastructure. The technology consists of Bosch’s IP cameras to allow intelligent devices for traffic flow and smart parking solutions.
Mar-2019: Excelfore collaborated with Baidu, a Chinese multinational technology company. In this collaboration, Excelfore got selected for Baidu’s Apollo Project to deliver Over-The-Air (OTA) updates and data gathering. The Apollo Project offers an open, reliable and safe software platform for its partners to develop autonomous driving systems.
Mar-2019: Bosch entered into a collaboration with Transport for London (TfL). The London Connectory of Bosch, based in Shoreditch, is a co-innovation space open to partners from the public, private, and academic sectors, from start-ups to multinational organizations. The goal of connectory is to build smart mobility solutions for the UK capital.
Jan-2019: Innoviz partnered with HARMAN International, a Tier-1 supplier for the automotive industry. Through this partnership, the companies strengthened their connection and made it easier for OEMs to access automotive-grade, mass-producible lidar needed for automakers to fulfill their ambitious goals of implementing autonomous vehicles (AVs) over the next decade.
Acquisition and Mergers:
Jul-2019: Ford Smart Mobility LLC (FSM), a division of Ford Motor Company signed an agreement to acquire Journey Holding Corporation. The acquisition focused on combining the two companies to boost their efforts to help cities provide more seamless, productive, and accessible transportation solutions to their citizens and visitors.
Feb-2019: Bosch announced the acquisition of the start-up LAWA Solutions based in Giessen. The acquisition helped Bosch to expand the product portfolio of Bosch Service Solutions in the area of networked products and services.
May-2018: Thales completed the acquisition of Cubris, a leader in Driver Advisory Systems (DAS) for Main Line Rail customers. The acquisition focused on strengthening the offerings and position of Thales in the Rail Traffic Management segment, built on the market successes and positioning in one of the main technologies driven the performance optimization of its customers.
Jun-2017: Siemens took over HaCon, a software solutions provider. This acquisition enabled Siemens to enter a comprehensive new business area that complements their portfolio, expanding it to include timetable scheduling and trip planning by passengers.
Product Launches and Product Expansions:
Oct-2020: Innoviz Technologies launched a next-generation sensor to its product line, the InnovizTwo. The new high-performance automotive-grade LiDAR sensor provides a fully-featured solution for all levels of autonomous driving at a lower cost.
Sep-2020: TomTom introduced TomTom RoadCheck, a pioneering product for automated vehicles. It enables carmakers to decide where it is secure for drivers to activate their vehicles’ automated driving functions. RoadCheck allows carmakers to use TomTom’s high definition (HD) map data to the full potential. It also helps them define the operational design domain (ODD) of their vehicles’ automated driving functions and enables carmakers to operate where these functions can be utilized safely.
Jun-2019: Excelfore introduced the eDatX platform. This platform aimed for big data-driven AI learning in fields of error detection, predictive analytics, and advanced algorithm development. The eDatX platform effortlessly integrates with eSync Compliant automotive OTA and data gathering pipelines.
Jun-2019: TomTom unveiled its new app Go Navigation for iOS users. TomTom Go Navigation app enables the drivers to experience the real-time services of online navigation without draining out much data. It is based on the TomTom Go Mobile app and is helpful for the drivers to recognize blocked roads.
Feb-2019: Excelfore introduced a working Time-Aware Shaper (TAS) for Ethernet TSN networks. The TAS protocols consist of network talkers and bridges with support for TSN improvements that include IEEE 802.1Qbv and 802.1Qci. The TAS offers a circuit-switched/ Time-Division-Multiplexed (TDM) channel into the otherwise packet-based Ethernet network. It also allows a certain time window to be guaranteed for the delivery of high-priority traffic, for example for automotive control systems.
Scope of the Study
• Ride Sharing
• Car Sharing
• Bike Commuting
• Traffic Management
• Parking Management
• Mobility Management
• Embedded System
• 3G & 4G
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• 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.
• MaaS Global Oy
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06064819/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001