Intelligent Mobility uses new ideas and technologies to improve the speed and efficiency with which people and goods can be moved around the world. But as well as improving the general “journey experience”, Intelligent Mobility is also a fast-growing global business sector in its own right.
In 2013, the World Bank estimated the size of the global transport market as being somewhere between £2.6 and 5.2 trillion. But while that already massive figure is expected to grow in real terms, the overall proportion of investment in transport is not expected to rise significantly. Faced with huge global challenges, such as ageing populations, increasing urbanisation and dwindling resources, it is clear that the transport industry needs to find ways of working more efficiently – and in conjunction with sectors far removed from traditional transport areas.
This is where Intelligent Mobility comes in, providing an intersection between traditional transport and exciting new products and services relating to mobile devices, open data, wireless communication or the Internet of things.
According to research commissioned by the Transport Systems Catapult in 2014, the Intelligent Mobility market is estimated to grow from its current annual value of around £140bn to just over £900bn a year by 2025.
Below are just some of the main subcategories contained within this emerging market:
- M-Commerce (c. £301bn per year by 2025)
Includes the use of mobile devices devices to conduct commercial transactions, integrated payment methods across freight distribution and other revenue generation that is outside of ticketing.
- Communications services and products (c. £162bn per year by 2025)
Includes passenger information systems, systems and equipment for communication, collaborative vehicle to vehicle communications, vehicle to infrastructure communications and infrastructure to infrastructure communications.
- Network management (c. £94bn per year by 2025)
Includes the management services and control systems required for the management of smart transport networks. It is predicted that consultancy services provided by companies such as Siemens and IBM, along with the platforms that they build, will constitute a large part of this market.
- Customer experience (c. £90bn per year by 2025)
Includes the adoption of new technologies, such as augmented reality (AR), to enhance customer experience during journeys.
- Internet of things (c. £41bn per year by 2025)
Describing the roll-out of items, objects and machines that are connected and able to interact with each other, via the internet and other fixed or wireless networks. With the internet of things, everyday objects fitted with sensors and devices will process information and act on this information independently of direct human control, having a radical effect in particular on the transportation of freight.
- Data (c. £32bn per year by 2025)
Includes tools and systems used to analyse transport-related megadata, in order to develop better commercial outcomes, enhanced system efficiency or other strategic objectives.
To learn more about some of our current Intelligent Mobility projects, please click here. Or if you have an idea (or a challenge) relating to Intelligent Mobility, why not get in touch with us?