The Future of Mobility
The realm of mobility is on the brink of a new era of innovation. Our investigation delved into global trends, scrutinizing the intricate shifts that have the potential to reshape the sector by the year 2035.
In the dynamic field of cutting-edge industries, mobility stands out as one of the most vibrant sectors, with both startups and traditional original equipment manufacturers (OEMs) tirelessly advancing new technologies and transportation alternatives. Despite this surge of innovative solutions, the persistent issue of congested roads remains unresolved, casting its impact across nearly every country. Consider Munich, where drivers lose an average of 87 hours annually to traffic woes. Meanwhile, in the bustling city of Los Angeles, the pre-pandemic era witnessed a staggering 119 hours of time squandered in traffic, underscoring the challenges faced on crowded roads.
Globally, the current count of operational vehicles is 1.3 billion, with a substantial portion being privately owned. In the United States, there are 868 vehicles per 1,000 people, while Norway boasts 635 and Mexico follows with 391. China, with a lower rate at 219 per 1,000 capita, still hosts over 300 million vehicles on its roads. The prevalence of private ownership contributes to traffic congestion, as these vehicles typically carry fewer passengers compared to public transportation or shared alternatives. Despite the recent emergence of ride-sharing services, the allure of private vehicle ownership remains robust in many countries. As per few reports reveals that private cars are utilized in 45 percent of all journeys, surpassing public transport, micromobility (including electric scooters and bikes), ride-sharing, ride-hailing, and walking
The enduring challenge of private-car congestion goes beyond mere frustration; it prompts developers to construct additional garages and compels public officials to allocate more space for parking, consuming precious urban land that could be better utilized for parks or other amenities. In the United States, renowned for its heavy reliance on cars, there are currently eight parking spots available for every car. Furthermore, efforts to alleviate congestion through the expansion of roadways and associated infrastructure necessitate increased government spending on maintenance and operations. Perhaps most critically, the elevated prevalence of private-car ownership is a significant contributor to the rising levels of carbon emissions.
In the coming decade, a transformative shift in the mobility ecosystem is anticipated, marking a change not witnessed since the early days of the automobile. A key aspect of this evolution is the anticipated decrease in private-car usage. Governments are actively implementing regulations to curb the number of vehicles on the road, aiming to alleviate congestion and lower emissions. Concurrently, consumers are expressing a growing preference for transportation options that are not only more efficient but also environmentally friendly and convenient. As technology progresses, the landscape may see the emergence of even more innovative mobility solutions, such as roboshuttles (shared autonomous minibuses with seating for four to eight passengers) or urban air taxis.
Source: McKinsey and Company
