2024 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 can 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 can 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 2024 S&P Global Autonomous Driving Consumer Survey asked nearly 8,000 global participants questions regarding advanced driver assistance systems (ADAS) features and autonomous driving technology to understand: consumers’ sentiments toward feature desirability, their willingness to pay, and their general interest in these technologies. 

Results showed some consistency from 2023 with respondents finding Level 0 and Level 1 ADAS features 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.