The automotive industry is increasingly integrating connectivity, with a recent survey by Cubic 3 revealing consumers’ willingness to invest in in-car digital subscriptions despite nagging concerns about data privacy. Conducted with 8,000 participants from multiple countries along with OEM executives, the study highlighted a challenge for automotive manufacturers: demonstrating the tangible benefits of digital services to encourage consumer spending. Overall, it forecasts a substantial market potential for software-defined vehicles, projecting over $650 billion in value by 2030, although there's a noted discrepancy between actual consumer willingness to pay and OEM expectations.
While there is growing consumer willingness to pay for in-car digital subscriptions, concerns about data practices persist, posing challenges for manufacturers to prove value to drivers.
The survey indicated a growing willingness among consumers to pay for digital services, especially among new, digitally native drivers accustomed to seamless connectivity.
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