Mobility

The mobility industry is associated with the transportation of goods and people. The advent AI and IoT has resulted in the radical transformation of the sector. With rising autonomous connected vehicles, the Autonomous Driver Assistance System (ADAS) industry is gradually gaining momentum in North America and Europe. The rising number of accidents is resulting in the growing popularity of autonomous vehicles that can sense the surroundings and act promptly without human intervention. Connected vehicles also control traffic congestion by providing precise data analytics to authorities, enabling them to route traffic properly & offer improved lifestyles to citizens.

The Mobility as a Service (MaaS) industry will gain traction in the future with increasing consumers preferring mobility-on-demand solutions for daily commutes. As MaaS technology works on real-time data transfer, the demand for connected vehicles that can be accurately tracked with GPS technology will increase. The growing popularity of shared transport services, such as Ola Cabs and Uber, is transforming the mobility industry. The rapid development of public transportation systems with the advent of smart cities will fuel the demand for smart mobility solutions. By 2030, virtually all cars are anticipated to be connected. The development of Electric Vehicles (EVs) is projected to transform the mobility sector by enabling the implementation of zero-emission solutions for a cleaner environment.

Drivers:

• The increasing penetration of digitalization will support the industry growth. Smartphone applications provide consumers real-time data on traffic conditions, availability of shared vehicle services, and public transportation systems.
• The growing popularity of shared vehicle services that ensure easy commute without the hassle of vehicle ownership & maintenance
• Development of high-speed railway networks
• The need to lower emission levels is expected to boost the adoption of electric vehicles. Government organizations are focusing on establishing EV charging stations to ensure increased convenience to consumers and encourage the use of EVs.