Europe’s mobility market is growing exponentially thanks to a convergence of private sector activity, consumer willingness to pay for new mobility solutions, and in some cases, a strong regulatory environment. The continent’s overall mobility market is expected to climb to $246 billion by 2035 from $92 billion in 2023, at a 9% annual rate, according to a recent Oliver Wyman Forum forecast, which predicts the global market will be $1.1 trillion in 2035.
While Asia’s mobility market is expected to increase the fastest by 11% annually, the European market should benefit from the region’s emphasis on decarbonized mobility, next-generation tech, and alternatives to personal car ownership. These forces are fueling significant growth in advanced driver-assistance systems (ADAS), electric vehicle (EV) charging, and cars-as-a-service solutions.
Advanced driver-assistance systems (ADAS)
Europe's ADAS market exemplifies how consumer demand and private innovation can create explosive growth. The region’s ADAS market is projected to reach $54 billion by 2035, up from $327 million in 2023 – a 53% annual growth rate.
Indicative of the expansion, the United Kingdom is positioning itself as Europe’s leader for autonomous vehicles with local startups collecting more than $1 billion in funding in 2024, according to a recent Oliver Wyman analysis. Indeed, one London-based autonomous driving firm made its first automaker deal in April 2025. Elsewhere, a German automaker announced a partnership with two autonomous driving companies in March of this year.
Regulation is also pushing the emerging market forward. The European Commission mandated that all new road vehicles must have advanced driver-assistance systems like intelligent speed assistance, reversing direction with cameras or sensors, drowsiness or distraction warnings, event data recorders, and emergency stop signals as of July 2024. Separately, the UK government in May 2024 passed a law that enables self-driving vehicles to drive on British roads by 2026, and Germany in 2022 hosted Europe’s first sale of cars with the ability for hands-off automated driving in traffic.
Carmakers who improve their ADAS technology can capture more consumers. More than 60% of Europeans said they would switch car brands for ADAS capabilities, but that’s still below the global average of 82%, according to a 17-nation consumer survey conducted by the Oliver Wyman Forum in November 2024.
Electric Vehicle Charging
Consumer demand for EVs and the continent’s general commitment to green mobility is expected to grow the market for EV charging services from $471 million in 2023 to $35 billion by 2035 — a 43% annual growth rate.
Demand for the vehicles hasn’t declined in the region despite fewer government incentives in some economies. Just over 40% of buyers plan to purchase one. That includes 73% who plan to make the purchase despite reduced government financial incentives, according to a global survey conducted in March 2025 by the Forum.
More EVs necessitates more charging services, and Europe’s regulators are proactively expanding the market. The region’s public charging points grew more than 35% between 2023 and 2024, according to the International Energy Agency. Further expansion is expected, with the European Union’s mandate to install fast-charging stations every 60 kilometers along the trans-European road network by 2025 and the rolling installation of charging points in private and commercial buildings by 2030 under the European Union’s Energy Performance of Buildings Directive.
Private sector activity is also an encouraging bellwether of the charging market’s growth. Most of the €6 billion in 2024 venture funding for Europe’s mobility firms flowed to those in Spain and France, as more charging operators are seeking capital to expand their networks, according to an Oliver Wyman analysis. Indeed, Charge France, a coalition of 13 charging operators in Europe, plans to invest €3 billion by 2028 to triple ultra-fast charging networks.
Cars-as-a-Service
Europe’s comprehensive and affordable public transit and cycling networks challenge the cars-as-a-service market – which includes ride-hailing and car rental, sharing, and subscription services. Yet providers still have room to grow, thanks to demographic shifts among consumers, urban policies, and expanded business models. Europe’s cars-as-a-service market is set to rise from $77.3 billion in 2023 to $93.9 billion by 2035.
Rates of how often Europeans report using cars-as-a-service options are ticking upwards. Consumers from France, Germany, Italy, and the United Kingdom reported higher usage rates for car sharing, ride-hailing, and car subscription services, when comparing responses to two Oliver Wyman Forum surveys completed in October 2023 and November 2024. The only outlier were Germans who maintained the same usage rates for ride-hailing between the two surveys at 19%.
The increased rates are perhaps reflective of a shifting attitude toward personal car ownership among Europeans, particularly Gen Z and millennials. Forty percent of those aged 18-34 say they are more likely to abandon personal cars, with 12% saying they would definitely do so, according to an Oliver Wyman study. Similarly, 32% of European car owners can imagine not having a personal car in the future.
Urban regulation may also be making personal cars more inconvenient for Europeans to own. Paris, for example, intends to expand car-free zones as part of its 2030 Climate Plan, while Vienna temporarily closed streets in 2024 for children’s play initiatives.
Service providers are capitalizing on these preference shifts with heightened entry into the market. One ride-hail firm entered Europe with a $200 million acquisition of a mobility platform from two German automakers in April 2025, while another provider acquired a service to enter the Danish market in March. Elsewhere, a car rental provider purchased 250,000 vehicles to bolster its fleets in Europe and North America by 2026.