Environment sustainability and cost-effectiveness are the two significant factors driving the automotive industry today. The massive transformation the automotive industry is going through is getting increasingly rapid. Car ownership and vehicular mobility are off the list of trending topics and have been taken over by smart city planning through smart mobility solutions such as electronic vehicles and shared mobility solutions.

Do we have to rethink the future of mobility?

The size of the global electric vehicle market in terms of revenue was $83.54 billion in 2012 and is expected to increase to $271.67 billion by 2019. The potential in the market is massive, and it is up to the manufacturers and enthusiasts in the mobility space to bring these innovations close to the end consumer.

Towards a Cleaner, Cheaper Tomorrow

With on-demand services in the mobility sector, shared vehicles will be made available as and when commuters need them. With the rise in electric vehicles, fuel consumption will fall drastically, leading us to a cleaner and greener future. In terms of the environmental benefits, this is of significant value as we try and embrace the more efficient methods of transportation.

Building mobility-friendly and sustainable cities will demand a lot of focus on commercializing and spreading the idea of electric vehicles, autonomous shared vehicles, etc. Many cities around the world have already started adoption of cycling and walking as the dominating modes of transport, and in cases where people don’t want to give up the comfort of their cars, electric vehicles are being promoted.

For a rapid shift in redefining mobility, governments around the world will need to lay out incentives and policies that make the evolution a seamless and voluntary one, where citizens feel that moving on to this innovative mobility space will be the right thing to do. At the individual and societal front, people have separated the tag of the status symbol from their cars, and have moved on to bicycles in a bid to save time and eliminate the stagnancy in traffic congestion.

Four Key Trends That Will Shape Mobility Forever

According to a survey, four key factors are shaping trends and practices, and are being followed to bring about massive changes in the mobility sector.

1. Development of sustainable assets – For the next 25 years, people are expected to demand more and more efficient and sustainable solutions that can help them save energy, costs, and time while commuting from one place to another. In the survey, about 80% of participants were of the opinion that private cars and vehicles would decrease in numbers as years pass by, and 70% participants said they expected an exponential rise in car sharing and pooling. As we move towards the future of completely autonomous vehicles, it will be a rapid transition from where we are today, to where we imagine mobility tomorrow.

2. Integration of Mobility – As a matter of fact, great customer experience in the mobility sector will entail leaving out the details of transportation to the software. The users of the system will have to worry less about their modes of transportation, and they will have an easier time deciding on their journey’s nuances. With the integration of personal mobility solutions into software and applications, people will only get to know when to be ready, and all other decisions will be smarty handled by the advanced computer system.

3. Smarter Cities – By the year 2050, about 70 percent of the world’s population will live in urban settings. With cities getting populated, and urbanization increasing to full speed, the need for smarter mobility solutions is becoming the need of the hour. Rather being driven by innovation, the mobility space here is getting upgraded because of a necessity for smarter solutions of transportation that can handle the rising demands with ease. With the rise in public transportation, real-time data monitoring, and passenger flow management, minimization of traffic congestion will be guaranteed.

4. Competition and Innovation – In the mobility sector, companies are trying to bring about the latest technologies, and striving to launch them first! This competition is a healthy one, and the rapid changes are a result of the same. Among the mobility and transportation sector’s major players such as General Motors, Ford, Volkswagen, Toyota, etc., there is a rush to reach innovation first, and the direct impact can be felt in the accelerated pace of the change.

With fleets of vehicles and electrification of the mobility space, it is estimated that the cost of transportation per mile will be reduced by about 70 percent, helping people save huge amounts annually. As mobility players team up with entertainment providers, the user experience will be elevated as an added benefit.

With the rear-view mirror in sight, we can see clearly the rapid pace of transformation in the mobility sector, and can easily determine how far we’ve reached towards completely digitized mobility.