New Delhi, Jan 18 The size of the Indian mobility industry could double to cross $600 billion by 2030, a report released on Saturday said.
The Think Mobility Report released by Google and Boston Consulting Group (BCG) at the ‘India Mobility Global Expo 2025’ said that emerging revenue sources such as electric, shared and connected mobility are set to contribute $100 billion, indicating a strong move towards clean, sustainable mobility.
As the popularity of electric vehicles (EVs) is growing, one in every three consumers is considering EV options for their next new vehicle purchase.
The report said that industry players should recognize the rapidly evolving preferences of India’s mobility consumer.
The report further stated that it is more important than ever for OEMs to effectively use global innovations in EVs, digital and AI. To succeed, they must tailor their products to the specific demands of Indian consumers.”
The big thing is that now women account for 52 percent of the decision making in the EV space, while in the case of ICE vehicles this share is more than 38 percent.
Bhaskar Ramesh, Director, Omni-Channel Business, Google India, said, “With new ways to earn profit and changing customer preferences, digital shopping led by Generation Z and women is growing faster than traditional.”
Demand for features like infotainment, real-time parking assistant and anti-theft is strong in India. At the same time, the demand for globally popular connected features like remote control is relatively low.
The report states that one in four first-time car buyers is considering old cars, which indicates a change in consumer sentiment.
