At about $15 trillion, mobility is a fundamental component of the global economy. As the largest single contributing sector to global GDP, mobility accounts for nearly one-sixth of all economic activities today. By 2030, it will expand to make up one-fifth of global economic activity. With a compound annual growth rate of 4.5 percent, it surpasses the growth of both the world population at an average one percent per annum and global real GDP at 3.6 percent annually. This momentum is expected to raise mobility’s slice of the pie to $26.6 trillion by 2030, almost doubling the size of the current market.
Contributing to mobility’s overall growth are a variety of factors related to fleet, technology, energy, operations, and more. The chart below outlines the growth rates through 2030 of various components of the sector and helps explain why mobility is so critical to the economic vitality of the world economy.
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