The global smart mobility market was valued at USD 70.42 billion in 2024 and is projected to reach USD 252.06 billion by 2034, expanding at a CAGR of 13.6% between 2025 and 2034. This remarkable growth is fueled by urbanization, rising demand for eco-friendly transportation, government initiatives, and rapid integration of AI, IoT, and connected technologies into mobility solutions.
Smart mobility is the backbone of smart cities, aiming to provide efficient, safe, and environmentally friendly transportation through advanced technologies. It integrates:
๐ Connected cars
โก Electric vehicles (EVs)
๐ค Autonomous vehicles
๐ฒ Mobility-as-a-Service (MaaS) platforms
๐ฃ Smart infrastructure
With urban populations expanding rapidly, the demand for sustainable mobility solutions is at an all-time high. Smart mobility addresses key challenges like traffic congestion, carbon emissions, and fuel dependency, while enhancing urban quality of life.
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Heavy investments in smart infrastructure and EV adoption programs.
Subsidies, tax benefits, and stricter emission regulations are pushing rapid adoption.
EVs are increasingly replacing fuel-powered vehicles.
Advancements in battery technology and charging networks make EVs more practical for daily use.
Single-platform access to ride-sharing, public transport, and vehicle rentals.
Reduces traffic congestion and urban pollution.
Real-time traffic management via GPS and RFID.
Smart parking and routing solutions to optimize commuting.
Enhanced safety, efficiency, and customer experience.
Despite its potential, the smart mobility market faces hurdles:
๐ Limited internet penetration in emerging nations.
๐ Cybersecurity risks & data hacking concerns.
๐ธ High investment requirements for infrastructure.
Autonomous Vehicles: With pilot projects already running, self-driving cars and trucks are expected to become mainstream in thecoming decade.
Fleet Management Solutions: Logistics & delivery companies are increasingly shifting to smart fleet operations to cut costs and emissions.
Integration of AI & Big Data: Real-time monitoring and predictive analytics will further enhance mobility efficiency.
CAGR: 13.6% (2025โ2034)
Market size: USD 70.42B (2024) โ USD 252.06B (2034)
Element Leader: Ride-sharing
Solution Type Leader: Traffic management
Technology Leader: RFID (growing at 16.6% CAGR)
Transportation Mode Leader: Roadways
Regional Leader: North America (34% share in 2024)
Accounted for 34% of global revenue in 2024.
Driven by U.S. adoption of smart mobility concepts, tech-driven infrastructure, and supportive policies.
Rapid urbanization and government-backed EV initiatives.
Countries like China, Japan, India, and South Korea are adopting eco-friendly solutions.
Focused on green mobility & carbon neutrality goals.
Growing demand for EVs, MaaS platforms, and shared mobility solutions.
Leading players shaping the global smart mobility market include:
Cisco Systems Inc.
Toyota Motor Corporation
Siemens AG
TomTom N.V.
Robert Bosch GmbH
Excelfore Corporation
Ford Motor Company
Cardinal Matrix
These companies are heavily investing in AI integration, autonomous mobility, and global partnerships to expand their market footprint.
The smart mobility market is at the heart of next-generation urban transformation. By integrating ride-sharing, EVs, autonomous vehicles, and smart infrastructure, cities are becoming more efficient, sustainable, and commuter-friendly.
While challenges like cybersecurity risks and infrastructure costs exist, the long-term opportunities in AI-powered solutions, connected mobility, and government-backed initiatives make this sector one of the most promising growth areas of the next decade.
๐ In short, smart mobility is not just about transportationโitโs about reshaping the way we live, move, and build future-ready cities.