Consumer preferences toward various modes of mobility are likely to witness dynamic shifts due to sudden environmental changes and dynamic needs, according to a recent analysis by Frost and Sullivan.
Hence, the flexibility to offer multiple mobility options through a single provider is crucial. In addition, the need to improve commuting efficiency and effective orchestration of fleets will require the deployment of high-impact technologies such as artificial intelligence (AI)-driven platforms, vehicle-to-everything (V2X) capabilities, blockchain, 5G, and edge computing.
Technology is driving the evolution of the mobility ecosystem and services, enabling on-demand services and integrated solutions. Digital urban mobility management solutions will be key to cities becoming more proactive, smart and liveable.
"Every stakeholder in the value chain of technology providers, automakers, mobility service providers, and cities aim to ensure effective mobility management of passengers and goods. They are increasingly resorting to partnerships/acquisitions to build capabilities and be prepared for the future of mobility," noted Albert Geraldine Priya, program manager - mobility, at Frost & Sullivan. "Public-private partnerships are expected to boost the uptake of smart city initiatives. Open data policies and policy support will catalyse this trend, especially for MaaS and marketplace solutions."
Priya added: "There is likely to be a shift from hardware to software platforms, such as moving from fixed road sensors to floating sensors in cars or cell phones. Differentiated, scalable, and usage-based fee models will require coordinated demand management. The focus on user orientation and convenience will promote free-flow traffic systems, end-user services, and converging technologies."
Urban mobility services providers can expand in a highly dynamic marketplace by making the most of the opportunities offered in the following areas:
- Extensive Collaborations to Develop Capabilities for Future Urban Mobility Management: Collaborations among traditional and new mobility technology providers can result in new business models and Mobility as a Service (MaaS) on a larger scale.
- Advanced Technology and Intelligent Solutions Vital for Smart Mobility of the Future: Solution providers from the information and communications technology (ICT) and automotive sectors should focus on deeper collaborations with various stakeholders, including city governments, to develop a scalable and robust smart city urban mobility management platform that can converge, process, and supply intelligence for seamless operations.
- Urban Mobility Management Systems are Crucial for Future Mobility Operating Systems: With urban mobility management systems central to the design of cities in the future, cities should transition to smart mobility operating systems that can provide a view of the entire city on a single screen.