The need to provide clean, decarbonized, and efficient transportation is crucial to solving many of the most serious challenges facing cities including air pollution, traffic congestion, and greenhouse gas emissions. Technologies such as EVs, automated vehicles, intelligent transportation systems, smart parking systems, last-mile logistics, mass transit innovations, and mobility-as-a-service options are expected to approach mainstream adoption within the next decade. According to a new report from Navigant Research, Urban Mobility Innovations, cumulative revenue for global urban mobility technologies is expected to reach $240.9 Billion in 2027.

“To support the vision of a cleaner, more connected, and automated transportation system, cities must prepare for the future by investing in physical infrastructure such as EV charging and digital infrastructure through data platforms and 5G networks,” said Ryan Citron, Senior Research Analyst with Navigant Research. “It is also important that readily accessible and proven technologies are not ignored in the pursuit of future solutions.”

According to the report, currently available technologies such as adaptive traffic control and smart parking systems have demonstrated effectiveness in reducing traffic congestion, although both remain underutilized by cities.