Smart Mobility Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to smart mobility market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Smart Mobility Market News

  • In April 2024, Hyundai Motor Company unveiled its advanced Mobility as a Service (MaaS) platform, designed to create seamless, multi-modal transportation experiences. The platform integrates ride-hailing, public transport, and micromobility services into a single interface, using AI-driven route optimization for enhanced user convenience. Hyundai’s initiative aligns with the increasing demand for connected mobility ecosystems and reinforces the company’s commitment to smart city development.
  • In March 2024, Harman, a provider of connected vehicle solutions, launched the Harman Ready Connect 5G Telematics Control Unit (TCU). This unit is designed to leverage the latest Snapdragon Digital Chassis connected car technologies from Qualcomm Technologies Inc. to expand the boundaries of connectivity and make automotive connectivity available to a wider audience.
  • In February 2024, Bosch, a global leader in automotive technology and IoT solutions, announced the launch of its next-generation AI-powered smart mobility platform. This platform integrates real-time traffic data, predictive analytics, and vehicle-to-everything (V2X) communication, enhancing urban transportation efficiency and safety. Bosch’s smart mobility solutions aim to reduce congestion, improve energy efficiency, and facilitate the transition to autonomous driving.
  • In January 2024, Targa Telematics, a leading technology company specializing in connected mobility platforms and IoT solutions, announced a strategic partnership with HERE Technologies, a renowned location data and technology platform. Through this collaboration, Targa Telematics enhances its fleet management solutions by integrating HERE Platform APIs, enabling customers to gain valuable insights into vehicle operations for improved efficiency and performance.
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Global Smart Mobility Market size was valued at USD 40 Billion in 2023 and is poised to grow from USD 45.68 Billion in 2024 to USD 130 Billion by 2032, growing at a CAGR of 14.2% in the forecast period (2025-2032).

The smart mobility industry is highly competitive, with major industry players, startups, and technology firms striving to develop innovative transportation solutions. Leading companies such as Siemens, Bosch, and IBM are leveraging AI, IoT, and cloud-based technologies to enhance mobility efficiency, improve traffic management, and optimize shared mobility services. Meanwhile, automotive giants like Tesla and Toyota are integrating smart mobility features, including autonomous driving capabilities and vehicle-to-infrastructure (V2I) communication, to stay ahead in the evolving landscape. 'Tesla Inc.', 'Uber Technologies Inc.', 'Lyft Inc.', 'Daimler AG', 'BMW Group', 'Ford Motor Company', 'General Motors Company', 'Toyota Motor Corporation', 'Volkswagen AG', 'Hyundai Motor Company', 'Waymo LLC', 'Didi Chuxing Technology Co.', 'Grab Holdings Inc.', 'Ola Cabs', 'Baidu Inc.', 'Intel Corporation', 'Cisco Systems Inc.'

The global smart mobility industry is significantly driven by the rapid urbanization and population growth observed across the globe. Cities are expanding at an unprecedented rate, leading to heightened demands for efficient transportation systems that can accommodate the growing number of residents. As more people move into urban areas, traditional transport infrastructures are being put under tremendous strain, resulting in increased traffic congestion, longer commute times, and a pressing need for more sustainable mobility solutions. This urban transition is forcing city planners and governments to rethink their transportation strategies, prioritizing smart solutions that integrate digital technology, data analytics, and innovative mobility options such as ride-sharing and electric vehicles.

How is Rapid Urbanization and Economic Growth Driving the Smart Mobility Market in Asia Pacific?

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Global Smart Mobility Market
Smart Mobility Market

Report ID: SQMIG25A2396

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