2023 ADAS & Autonomous Driving consumer analysis - What ADAS features drive consumer spending?

To understand consumer sentiment toward S&P Global Mobility forecast technologies, the autonomous driving research and consumer insights teams conduct an annual consumer survey that serves as a quantitative input and foundational pillar of the forecast.

By asking new vehicle intenders a series of questions to gauge feature desirability and packaging, willingness to pay for such features and perception of emerging technologies, S&P Global Mobility analysts are able to develop Feature Desirability and Willingness to Pay indices that are then factored into the Autonomy Forecasts.

Through statistical analysis and machine learning, S&P Global Mobility analysts are able to extract key factors and weights (coefficients) that explain an application’s feature desirability score and how much consumers are willing to pay for it.

The 2023 Autonomous Driving Consumer Survey asked nearly 8,000 participants around the world questions regarding advanced driver assistance system (ADAS) features and automated or autonomous driving technology to understand consumer sentiment toward feature desirability, willingness to pay and general interest in the respective technologies.

Results showed some consistency from 2022 with respondents finding Level 0 and Level 1 ADAS features currently on the market most desirable, but are typically less willing to pay extra, although package bundles were preferred over individual features.

Safety ratings and certifications play an important role when considering the purchase of a new vehicle, and many would be willing to pay extra for a vehicle with higher safety ratings.