Latest published report on the Smart Mobility market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2020-2027. The report is based on an extensive study supervised by adept analysts. Their sound knowledge and expertise in the field help in unearthing of factors and figures. The report is fulfilled with a volume-wise and value-wise analysis.
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Smart mobility is the technology which uses different means of transportation to travel from one place to another without using personal vehicles. It includes the concept of car-pooling, bike sharing, ride sharing, and using public transports rather than personal vehicles. Increase the need for smart mobility due to attributed increased traffic conditions across the world and it is supplemented by its related side effects like pollution, and traffic jams.
Rise in demand for on-demand transportation services is considered as key driving factor which is expected to boost the global smart mobility market growth. Furthermore, increase in technological developments and innovations will positively contribute the market growth. For instance, in August 2019, DENSO had launched its first smart mobility Ecosystem, in Dublin. It is designed to enhance transportation. Also, increase in collaborations of key players is expected to propel the market growth. For instance, in January 2020, Hyundai and KIA collaborated with Ola for improvement of smart mobility solutions. Ola is the biggest ride-hailing provider of India. The two companies have decided to invest around $ 300 million in the project. The aim of this collaboration is to build and develop smart mobility services in India.
However, low rate of internet penetration in developing regions is the major challenging factor which is expected to hinder the global smart mobility market growth. Also, data privacy and security is another restraining factor which is expected to hamper the market growth during this forecast period.
Market Key Players
Various key players are discussed in this report such as Cisco, Excelfore Corporation, Ola, Ford Motor Company, Hyundai, Kia, MAAS Global Oy, QuaLiX Information System, Robert Bosch GmbH, Siemens, TomTom International, and Toyota Motor Corporation
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