Global Smart Transport Market To Expand 50 Times To Reach $1.5 Trillion By 2030

The future mobility market, those providing self-driving smart electric vehicles and shared mobility, is likely to expand 50 times to reach US$1.5 trillion in market size by 2030, compared to today's US$30 billion. Investors could benefit from companies in the electrification, autonomous driving, Internet of Cars (IoC) and shared mobility categories, according to a BofA Merrill Lynch Global Research report.

There are over 1.2 billion cars on the roads today, and the transport sector is generating around US$7 trillion in vehicle sales, supplies, and services. But the current market condition is highly inefficient, with 95% of cars parked at any one point and cars costing up to US$8,500 per year to own and operate. In addition, vehicles account for 1.2 million deaths annually and generate 23% of C02 emissions globally.

With world population ex...

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