2024 Connected Car Consumer Survey - Connected services that consumers are willing to pay for

To understand consumer sentiment toward S&P Global Mobility’s technology forecasts, the Connected Car and Consumer Insights research teams conduct an annual consumer survey that serves as a quantitative input to these forecasts. By asking vehicle owners of certain model years a series of questions to gauge activation decisions, subscription lengths and costs, feature desirability, and willingness to pay, analysts can develop the Feature Desirability and Willingness to Pay indexes, along with activation rates that are then factored into the Connected Car forecasts. Through statistical analysis and machine learning, 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 Connected Car Consumer Survey asked nearly 8,000 global participants questions regarding connected-vehicle services to understand consumer sentiment toward: connected features and paid functional updates, feature preferences willingness to pay for these services and features 

Results showed that respondents were most satisfied with connected services related to navigation, infotainment and personalization while safety and security had the lowest ratings
Consumers were least willing to pay for infotainment service features and were most willing to pay for enhanced navigation updates
Most of the global respondents were willing to pay for functional updates as an annual subscription