Smart Mobility Market to Reach $264B by 2033, Driven by EV, AV, and Smart City Growth
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Smart Mobility Market projected to reach $264.1 billion by 2033, growing at a 20.1% CAGR. Driven by technological advancements like IoT, AI, and connectivity.
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Market includes development of EVs, autonomous vehicles, mobility-as-a-service platforms, and smart city initiatives. Integrates AI and IoT into transportation systems.
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Growth driven by government policies supporting green transportation, advancements in battery technology, and consumer preference for eco-friendly transportation.
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In 2023, traffic management solutions dominated with 30% market share. North America held 38% market share, driven by tech infrastructure and policies.
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Key players include Cisco, Ford, Siemens, TomTom, and others. Rapid urbanization and shift towards flexible, on-demand transportation services supporting growth.