Dublin, May 21, 2021 (GLOBE NEWSWIRE) -- The "Global Smart Mobility - Market and Technology Market to 2029" report has been added to ResearchAndMarkets.com's offering.
The Global Smart Mobility Market is expected to grow at a CAGR of around 29.33% during the forecast period, the market is expected to grow from USD 421.32 Billion in 2020 to USD 3296.71 Billion in 2029. The cumulative market is expected to reach USD 16731.17 Billion.
The global smart mobility market would be dominated by three regions - Europe, Asia Pacific and North America. The APAC market is expected to account for more than 30% of the total market. The decrease in the cost of hardware, the evolution of network communication technology, growth in the support infrastructure, high mobile adoption and internet penetration are some of the key drivers which would drive the smart mobility market. Technologies such as 3G/4G/5G, WI-FI, RFID, Embedded System to name a few for network communication, MEMS sensors and cloud computing would be key to smart mobility growth.
The Smart Mobility Market has experienced substantial growth over the last few years and is expected to increase further over the projected period (2020-2029). Smart Mobility has made a number of long-term investments and technology advances in markets such as connectivity, electrification, automation and shared mobility that are expected to drive the industry at an accelerated pace.
Security concerns, lack of standardization, data liability and lack on return on investments will remain key challenges to the growth of smart mobility. High cost of implementation and legacy devices would act as restraints to the growth of smart mobility. There have been many instances when autonomous transport systems have been hacked and data has been compromised. The current smart mobility market is fragmented with a large number of standards. The growth of smart mobility is expected to be delayed until standardization is achieved. Capacity issues are expected to rise as the smart mobility market grows which would result in the shift from fossil fuel vehicles to electric vehicles and then to autonomous hybrid electric vehicles.
The smart mobility market is expected to evolve throughout the forecast period. There would be a transformation in the way data is being processed. Data processing would shift from centralized and cloud to edge technology where analysis of data and development of solutions is expected to occur at data generation points. Connectivity is expected to grow at a CAGR of 29.3% during the forecast period. Edge computing will have vast applications in time-critical processes like driverless transport applications. There is also expected to be an evolution in the sensor market due to emerging technologies like MEMS. The diminishing size of sensors is primarily driven by the MEMS technology. The reduction in the price of sensors has been one of the drivers of the smart mobility market.
The Smart Transport Assets sector is expected to be the fastest-growing sector at a CAGR of 35.5% during the forecast period 2020-2029.
Key Topics Covered:
2 Executive Summary
3 Current Market Overview of the Global Smart Mobility Market
3.1 Market Overview
3.1.1 Current Market Overview
3.1.3 Autonomous Driving (ADAS)
3.1.5 Shared Mobility
3.1.6 Synergies between Electrification and Connectivity
3.1.7 Clean and Smart Energy Supply
4 Current Market Trends of the Global Smart Mobility Market
4.1 Key Trends
4.1.1 Shared Mobility
4.1.2 Autonomous Driving
4.1.3 Electrification of Vehicles
4.1.4 Public Transit
4.1.5 Decentralization of Energy Systems
4.1.7 Connectivity and Internet of Things
4.2 Boundaries Between Sectors
4.2.1 Energy Sector
4.2.2 Automotive Sector
4.2.3 Public Sector
4.2.4 Technology Sector
5 Market Technologies
5.1.1 Ultra-Small Vehicles
5.1.2 Battery Electric Vehicles
5.1.3 Wheel Motors
5.1.4 Robot Wheels
5.2.1 Charging Infrastructure
5.2.2 Autonomous Transport System
5.2.3 Smart Mobility Services in Freight and Logistics
5.3 Autonomous Driving
5.3.1 Vehicle to Vehicle
5.3.2 Vehicle to Infrastructure Bidirectional Communication
5.4.1 Big Data
5.4.2 Artificial Intelligence
5.4.3 Internet of Things
6 Market Dynamics
6.1.3 Development in Autonomous Platforms
6.1.4 Growth in Megacities
6.2.2 High Ownership Cost
6.3.2 Supply Chain Normalization
6.3.3 Technology Failure
6.5 Porter's Five Forces
7 Country Analysis
8 Smart Mobility Market Forecast by Region to 2029
9 Smart Mobility Market Forecast by Components to 2029
10 Scenario Analysis
11 Opportunity Analysis
12 Company Profiling
For more information about this report visit https://www.researchandmarkets.com/r/w6c3nn
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