The global smart mobility market is projected to reach $70.46 billion by 2027, growing at a CAGR of 20.2%.
Smart mobility involves using different means of transportation to travel without personal vehicles, aiming to address traffic congestion and pollution.
The rise in on-demand transportation services and government initiatives for smart cities drive the growth of the smart mobility market.
North America currently dominates the market, but Asia-Pacific is expected to exhibit the highest CAGR due to collaborations and adoption of innovative technologies.