Delivered November 28, 2019. Contributor: Hanine K.
To find the breakdown of the smart mobility market in SE Asia by smart city
, shared mobility
, electric charging
, mobility related fintech
, and smart logistics.
The smart transport market in Asia Pacific was sized at $557 million in 2012. The market is projected to grow at a compound annual growth rate (CAGR) of around 19.7% to reach 2,347 million by 2020.
McKinsey estimated that the market for smart mobility applications in SE Asia could be as large as $70 billion, while opportunities to make the built environment smarter could be worth up to $26 billion.
"The major factors driving the smart transportation market are rising urban population and high demographic rates, the incresing adoption of connected and smart technologies in the transportation infrastructure, and the increasing free trade agreements."
"In terms of CAGR, APAC is expected to account for the highest growth potential in the smart transportation market during the forecast period (2016-2023). This growth can be attributed to the increasing transportation spending and the adoption of the smart transportation technology in China and India."
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