Smart Mobility Market Size, Growth, Trends Report 2034

Smart Mobility Market: Industry Perspective

The global smart mobility market size was worth around USD 70.42 billion in 2024 and is predicted to grow to around USD 252.06 billion by 2034 with a compound annual growth rate (CAGR) of roughly 13.6% between 2025 and 2034. The report analyzes the global smart mobility market's drivers, restraints/challenges, and the effect they have on the demand during the projection period. In addition, the report explores emerging opportunities in the smart mobility industry.

Request Free Sample

Smart Mobility Market: Overview

Smart mobility is one of the primary needs for the development of smart cities. Smart technology, smart mobility, smart infrastructure smart governance are also vital for the development of smart cities. Smart mobility is concerned with offering intelligent transportation solutions through the use of new and integrated technologies and solutions that are environmentally friendly and also enhance social mobility. The term "smart mobility" refers to the incorporation of cutting-edge technologies and forward-thinking solutions into existing transportation networks in order to enhance those networks in terms of their effectiveness, safety, and environmental friendliness. Connected cars, electric vehicles, autonomous vehicles, mobility-as-a-service (MaaS) platforms, and smart transportation infrastructure are just some of the products and services that fall under the purview of the smart mobility market.

In recent years, the global market for smart mobility has experienced significant expansion, which can be attributed to a number of factors, including the rise in urbanization, the rise in demand for environmentally friendly transportation solutions, and developments in technology. The growing number of people who drive electric cars is one of the most important factors propelling the smart mobility market (EVs). Electric vehicles are becoming an increasingly popular option for individuals and governments alike as a means of transportation that is both less harmful to the environment and more compatible with long-term sustainability goals. In addition, developments in battery technology and infrastructure for charging are making electric vehicles more practical and convenient for day-to-day use.

The increased need for MaaS systems, which give customers access to a multitude of transportation options through a single app or platform, is another factor that is driving the smart mobility market. MaaS platforms are especially popular in urban areas since they provide an alternative to car ownership, can aid in the reduction of traffic congestion, and can enhance air quality.

Also, it is anticipated that autonomous vehicles will play a key part in the smart mobility sector in the years to come. Self-driving cars and trucks are already being tested and deployed in select locations, and it is anticipated that they will become more common in the coming years. While the widespread adoption of fully autonomous vehicles may still be a few years away, it is expected that self-driving cars and trucks will become more common in the coming years. In general, it is anticipated that the market for smart mobility will keep expanding over the next few years. This growth is anticipated to be driven by an increasing demand for environmentally friendly transportation solutions, advances in technology, and government support for smart transportation infrastructure.

Key Insights

• As per the analysis shared by our research analyst, the global smart mobility market is estimated to grow annually at a CAGR of around 13.6% over the forecast period (2025-2034).
• Regarding revenue, the global smart mobility market size was valued at around USD 70.42 billion in 2024 and is projected to reach USD 252.06 billion by 2034.
• The smart mobility market is projected to grow at a significant rate due to urbanization, demand for sustainable transport, government initiatives supporting EVs and shared mobility, and integration of IoT and AI in transportation systems.
• Based on Element, the Ride-sharing segment is expected to lead the global market.
• On the basis of Solution Type, the Traffic Management segment is growing at a high rate and will continue to dominate the global market.
• Based on the Technology, the RFID segment is projected to swipe the largest market share.
• By Transportation Mode, the Roadways segment is expected to dominate the global market.
• Based on region, North America is predicted to dominate the global market during the forecast period.

Smart Mobility Market: Dynamics

There are several factors that are responsible for the growth of the smart mobility market, such as supportive government initiatives for smart cities and rising demand for on-demand transportation solutions. The smart mobility market has a bright future. All of these factors have resulted in a surge in smart mobility usage, which is driving the global smart mobility market forward. Furthermore, expanding network infrastructure and increased usage of smart mobility for fleet management are also contributing to overall market growth. On the other hand, there are some roadblocks to the smart mobility market's growth, such as limited internet penetration in emerging nations and the risk of data hacking.

Request Free Sample

Smart Mobility Market: Segmentation Analysis

The global smart mobility market is segmented based on element, solution type, technology, transportation mode, and region.

Based on Element, the global smart mobility market is divided into ride sharing, vehicle sharing, public transport, mobility-as-a-service (MaaS), electric mobility, and autonomous vehicles. The ride-sharing segment is expected to dominate the global market during the forecast period. Due to its widespread adoption, ridesharing received the highest revenue share in 2024. However, due to the widespread acceptance of car sharing, the segment is expected to rise at a rapid pace over the forecast period, contributing to the worldwide smart mobility market's growth. The element segment is bifurcated into three categories: ride-sharing, car-sharing, and bike commuting.

On the basis of Solution Type, the global smart mobility market is bifurcated into traffic management, parking management, mobility management, and others. 

By Technology, the global smart mobility market is split into 3G/4G/5G, GPS, RFID, and NFC. In 2024, the RFID under the technology segment is anticipated to dominate the global smart mobility market, with a CAGR of 16.6% during the forecast period. Furthermore, the GPS market is anticipated to grow at an annual rate in the forecast period. Due to the rising use of GPS in automobiles for smarter route planning, automated real-time alerts, and better customer service. Embedded systems, Wi-Fi, 3G & 4G, and others form the remainder of the technology segment.

In terms of Transportation Mode, the global smart mobility market is categorized into roadways, railways, airways, and waterways.

Smart Mobility Market: Report Scope

Smart Mobility Market: Regional Analysis

North America is expected to dominate the global market

North America accounted for the largest share of 34% in 2024. Due to a surge in the adoption of the smart mobility concept in North America, the United States gained a significant revenue share in 2024 and is expected to increase at a significant rate over the forecast period.

Asia Pacific is projected to grow at a decent CAGR during the forecast period. DUE to the increased government spending, along with the acceptance of more eco-friendly mobility solutions in developing regions, the demand for smart mobility is evident in the forecast period.

Request Free Sample

Smart Mobility Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the smart mobility market on a global and regional basis.

The global smart mobility market is dominated by players like:

• Cardinal matrix
• Cisco Systems Inc.
• Toyota Motor Corporation
• Siemens AG
• TomTom N.V.
• Robert Bosch GmbH
• Excelfore Corporation
• Ford Motor Company

The global smart mobility market is segmented as follows;

By Element

• Ride Sharing
• Vehicle Sharing
• Public Transport
• Mobility-as-a-Service (MaaS)
• Electric Mobility
• Autonomous Vehicles

By Solution Type

• Traffic Management
• Parking Management
• Mobility Management
• Others

By Technology

• 3G/4G/5G
• GPS
• RFID
• NFC

By Transportation Mode

• Roadways
• Railways
• Airways
• Waterways

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa