Google-BCG Report: Domestic mobility will be $600 billion in size by 2030, claims new Google-BCG report

New Delhi|The size of the Indian mobility industry could double to surpass $600 billion by 2030. Emerging income sources such as electric, shared and connected mobility are set to contribute $100 billion, signalling a strong move toward clean, sustainable mobility, Google and Boston Consulting Group (BCG) report.

According to the report, as the popularity of electric vehicles (EVs) is increasing, one in three customers is considering the option of EVs to purchase the next new vehicle. Companies should recognize the rapidly evolving priorities of India’s Mobilty customers. It has now become important for companies to effectively utilize global innovation in EVs, digital and artificial.

Challenges regarding electric vehicles
The report also said that there are some challenges regarding electric vehicles, such as lack of charging stations, high prices of vehicles, battery life and concerns about some four-wheeler electric vehicle models.If seen, with the increasing popularity of electric vehicles, one-third of consumers are considering buying an electric vehicle for their next car or bike.

Electric four wheeler
Customers buying electric four-wheelers prefer advanced technology and style, while two-wheeler buyers give more importance to comfort, practicality and price. At the same time, the report also notes that the share of women in purchasing electric vehicles has increased to 52 per cent, which was previously only 38 per cent.

Additionally, people in India demand features like infotainment, parking assistance and security in their cars. Overall, there is a huge shift in the Indian mobility industry towards electric vehicles and connected facilities, and this market is developing rapidly.