City
Epaper

Overall connected vehicle tech grows 60% in India in Q1

By IANS | Updated: May 9, 2023 12:30 IST

New Delhi, May 9 India's overall connected vehicle (CV) technology grew more than 60 per cent (on-year) in ...

Open in App

New Delhi, May 9 India's overall connected vehicle (CV) technology grew more than 60 per cent (on-year) in the first quarter of this year, with the electric vehicle (EV) market showing stupendous growth by 48 per cent YoY, a report showed on Tuesday.

The connected 2-wheeler (C2W) vehicles grew around 92 per cent YoY, with its market share increasing to nearly 60 per cent, according to data from market research firm CMR.

The electric 2-wheeler (E2W) market grew by 44 per cent YoY. The electric 3-wheeler (E3W) market grew steadily covering around 50 per cent share within the segment.

"There is growing consumer awareness around connected vehicle technologies. For instance, connected vehicle tech has consistently increased its footprint in the industry," said John Martin, senior analyst, smart mobility practice, CMR.

The advanced driver-assistance system (ADAS) adoption grew around 50 per cent YoY in Q1 2023.


"With safety becoming a top consumer priority, ADAS feature tech has witnessed gradual adoption, with 70 per cent YoY 2023 growth market share of vehicles featuring Level 2 autonomy," Martin added.

The electric passenger vehicle (EPV) segment grew over 114 per cent YoY in Q1 in India.

Connected features in the passenger vehicle (PV) segment have been grabbing the market fast with 56 per cent growth, of which, around 58 per cent of the connected passenger vehicle (CPV) market share is driven by conventional powertrains.

By Q1 2025, the EV market share in India is expected to surpass 24 per cent, while connected vehicles are projected to account for over 30 per cent of the market.

"By 2025-26, connected and software-driven vehicles will be key revenue drivers for the automotive industries," said Martin.


na/ksk/

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: John KrukindiaDisney IndiaNew DelhiAll India Majlis E Ittehadul MuslimeenCommunist Party Of India MarxistIndia TodayAir Asia IndiaAsia IndiaFifa U 17 World Cup IndiaAll India Football Federation
Open in App

Related Stories

CricketIND vs PAK 2025 Live Streaming: Head-to-Head Record, When and Where to Watch India vs Pakistan Asia Cup Super 4 Clash

MumbaiNamo Yuva Yatra: Milind Soman Flags Off Campaign in Mumbai, Says ‘Theme of a Drug-Free India Is Very Important’ (Watch Videos)

CricketIND-W vs AUS-W, 3rd ODI: Australia Women Win Toss, Opt to Bat Against India in Series Decider; Check Playing XIs

CricketWhy Is India Women’s Cricket Team Wearing a Pink Jersey in IND-W vs AUS-W 3rd ODI 2025 Match?

CricketIND-W vs AUS-W 3rd ODI LIVE Cricket Streaming: When and Where to Watch India Women vs Australia Women Final Match

Technology Realted Stories

TechnologyPM Modi launches ‘GST Utsav’ from tomorrow, calls it 'festival of savings for Indians'

TechnologyKabul residents complain of challenges faced due to reduced internet speed

TechnologyCII’s model state GCC policy aims to create millions of high-quality jobs across India: Director General

TechnologyGST rate cuts: 375 items to get cheaper from tomorrow

TechnologyPOCO 'Festive MADness': Battery kings under Rs 30,000 unleashed this Big Billion Days