Connected Mobility Solutions Market Overview
Technological development has led to the growth of advanced solutions, and the connected mobility solution is one of the major inventions in the automation world. The growing demand for cloud-based connected solutions in the automotive sector and connected self-governed automobiles is contributing to the growth of the latest technologies like connected mobility devices in vehicles.
Implementing advanced technology like the Internet of Things (IoT) and AI in connected mobility solutions is largely driving the Connected Mobility Solutions Market. The development of smart infrastructure projects across the developing regions across the globe is another market growth factor. The rise in demand for digitization and inclination towards smart technology solutions like crash detection of passenger vehicles with a sensor device has raised the Connected Mobility Solutions Market value. This solution is considered safer, efficient, and convenient, due to which it is the market. It is receiving higher demand.
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Some of the pre-eminent members of the globally connected mobility solutions market are the following –
- Mitsubishi Motors Corporation (Japan),
- Robert Bosch GmbH (Germany),
- Siemens AG (Germany),
- Cisco System Inc (U.S.),
- Nokia Networks (Finland),
- Molex Incorporated (U.S.),
- Deutsche Telekom AG (Germany),
- HUBER+SUHNER (Switzerland),
- NXP Semiconductors N.V. (Netherlands)
The Connected Mobility Solutions Market is seeing a surge in demand as customers look for ways to use technology to make their lives easier [1]. Many major automakers and tech companies have been investing heavily in the development of connected mobility solutions, and this has resulted in a number of new developments in the industry. Some of the most notable recent developments include:
- Automakers such as BMW, Audi, and Mercedes-Benz have all released their own proprietary connected mobility solutions. These allow customers to control various aspects of their vehicle such as climate control, navigation, and entertainment systems, all from their smartphone.
- A number of startups, such as Waymo, Uber, and Lyft, have developed autonomous vehicle technologies that can be used to provide customers with a safe and reliable ride-sharing experience.
- A number of companies have developed digital platforms that can be used to connect customers with transportation services, such as Uber and Lyft. These platforms allow customers to book rides, view prices, and track their progress.
- Companies such as Tesla have developed electric vehicles that are connected to the internet, allowing customers to access features such as autopilot and automatic charging.
- Companies such as TomTom and Here have developed mapping technologies that can be used to provide customers with real-time traffic information and route suggestions.
Overall, the connected mobility solutions market is seeing rapid growth and development [1], and it is likely to continue to expand in the coming years.
The connected mobility solutions market refers to the development and implementation of technology-based solutions that enable seamless connectivity between different modes of transportation. These solutions aim to provide a more efficient and convenient transportation system by utilizing data and analytics to optimize routes, reduce congestion, and enhance safety. Connected mobility solutions may include technologies such as real-time traffic monitoring, ride-sharing services, vehicle-to-vehicle communication, and autonomous vehicles. These solutions can be utilized in various industries, including public transportation, private transportation, and logistics. The market for connected mobility solutions is rapidly growing due to the increasing demand for efficient and sustainable transportation solutions. With the rise of smart cities and the need for more eco-friendly transportation options, the adoption of connected mobility solutions is expected to continue to increase in the coming years.
The growth drivers are the reason the market is accelerating at a high rate. The propelling demand for connected mobility solutions with cloud-based technology in the automobile industry and the growing demand for connected and autonomous vehicles are the major driving factors emerging in the Connected Mobility Solutions Market growth.
Amid the pandemic, the market opted for more technically advanced and real-time solutions to overcome the economic loss. The target of the industrial players was cost-effective and efficient solutions to meet the requirements. The increased demand for digital transformation, cloud-based technical upgrades, autonomous solutions, application of smart infrastructure, and recovery solutions for business reengineering and technical consultations will help the market to get back to the normal growth days with rising opportunities.
The Connected Mobility Solutions Market is estimated to witness a CAGR of 17.60% by the year 2030, during the forecast period.
Connected Mobility Solutions Market Segmentation
The Connected Mobility Solutions Market is segmented based on connectivity, technology, and application.
The connectivity segment is classified into integrated, tethered, and embedded connectivity.
The Technology segment is the dominating segment of the connected mobility solutions market. The segment includes Bluetooth, wireless (WiFi), 4G (LTE), and 5G data connections.
The application segment of the market is segregatedinto telematics and navigation. Navigation includes monitoring vehicles and roads and capturing and managing real-time data.
Connected Mobility Solutions Market Regional Analysis
According to the geographical report, the Connected Mobility Solutions Market the top continents such as the Asia Pacific, North America, Europe, and the Rest of the World. North America is the largest market due to the increased adoption of the internet of things in the region. The presence of Automobile companies in major countries like the United States and Canada are implementing new technologies to reduce the rate of accidents to provide a secure and safe experience.
The European region is noticing significant growth due to the demand for connected mobility solutions in the automotive sector. Moreover, the Asia Pacific countries, including China, Japan, and India, are emerging from the regional market because of the higher acceptance of smart and electric vehicles.
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Industry News
Mitsubishi Motors Corporation (Japan), a prominent player, contributes to the market using certain principles to position the basic guidelines for sustainable development of society by the Sustainability Committee.
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