Market for Smart Urban Mobility to Top $25B in 2024

Estimated reading time: 2 minutes

A new report from Navigant Research analyzes the global market for smart urban mobility infrastructure and services in smart cities, including carsharing, advanced traffic management, smart parking, and other transportation innovations, with regional forecasts for revenue, through 2024.

In cities around the world, thoughts on mobility in urban areas are beginning to shift in light of increasing traffic congestion and its impact on the local economy, the environment, and quality of life. As a result, cities today are moving toward a model of on-demand mobility in which citizens can take advantage of many clean transportation options that meet their immediate needs. Click to tweet: According to a new report from Navigant Research, the market for smart urban mobility infrastructure and services is expected to exceed $25 billion in 2024.

“In an increasingly connected environment, cities have now become the focal point for a range of new mobility tools such as carsharing, rideshare apps, and advanced traffic management—key elements of a smart city mobility strategy,” says Lisa Jerram, principal research analyst with Navigant Research. “Some cities are now going a step further by connecting different mobility modes to create on-demand, sustainable, and flexible urban transportation systems.”

Infrastructure investments like real-time traffic management, public charging networks, and smart parking systems are being complemented by new mobility services like carsharing services and rideshare apps, as well as solutions that tie these elements together to provide on-demand mobility. According to the report, these new and innovative forms of mobility are the result of both public investment and private enterprise that ultimately help cities reduce emissions and congestion.

The report, Urban Mobility in Smart Cities, examines the key smart urban mobility infrastructure and services being offered in smart cities. The study analyzes the market for carsharing and rideshare services; public EV charging equipment and services; smart parking systems; congestion charging schemes; and advanced intelligent transportation (ITS) and other innovations in transportation infrastructure. Global market forecasts for revenue, segmented by region, extend through 2024. The report also compares different regional approaches to smart urban mobility, looks at key city examples of each mobility segment, and profiles key players in the market. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.