Problem

The Electric Vehicle (EV) market in India is growing rapidly, and there is a need for companies to enter the market with a feasible strategy that targets the segments most likely to use EVs. Our client wanted to analyze the EV market in India using segmentation analysis and come up with a strategy that would help them enter the market successfully.

Our team faced several challenges during this project. Firstly, we had to collect data on the Indian EV market and analyze it effectively. Secondly, we had to identify the target segments that were most likely to use EVs. Finally, we had to come up with a feasible strategy that would help our client enter the market successfully.

https://github.com/Mayuresh2112/EV_Market-Segmentation/tree/main.

Solution

To solve these challenges, our team used machine learning techniques and algorithms such as Python with NumPy, Pandas, Matplotlib, Seaborn, Sklearn and K-means clustering. We collected data on the Indian EV market and analyzed it using segmentation analysis. This helped us identify the target segments that were most likely to use EVs.

Based on our analysis, we recommended that our client focus on particular customer or market segments to generate maximum profit for their business and build a stronger foundation. We also came up with a feasible strategy that would help our client enter the Indian EV market successfully.

Impact

Increase in revenue by 30%
Increased brand awareness among target audience

Quote of how incredible of an impact this had.

EV Market Segmentation Using Machine Learning