Market Highlights
The closure of transportation impacted the Smart mobility market badly as the demand decreased for these. Post COVID the demand started to increase but still it will take time to fully recover from the losses that occurred during the pandemic. The global Smart mobility market is projected to record a CAGR of 20.5% during the forecast period. Smart mobility refers to the new approach to transport regarding the use of vehicles and the technologies linked to it to improve the quality of urban mobility. Smart mobility is a forward-looking approach, which focuses on the needs of all users – citizens, residents, workers, and visitors. The goal is to create a mobility system, which meets the needs of citizens and improves their quality of life effectively and efficiently.
Due to the pandemic, there was various restriction and norms that was implemented by the government to tackle the pandemic. There was a decrease in the activities such as transportation and travel activities were banned. This has decreased the revenue of transport companies and is facing difficulties to manage their activities.
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Segmental Analysis
Global Smart mobility market, by Element
- Bike Commuting
- Car Sharing
- Ride Sharing
Global Smart mobility market, by Solution Type
- Traffic Management
- Parking Management
- Mobility Management
- Others
Global Smart mobility market, by Technology
- 3G 4G
- Wi-Fi
- Global Positioning System (GPS)
- Radiofrequency Identification (RFID)
- Embedded System
- Others
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