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European Consumers Rank Vehicle Safety Second Only to Reliability Finds Frost & Sullivan - In future, clients are more likely to adopt safety systems they are familiar with - Automotive.Frost.com
European Consumers Rank Vehicle Safety Second Only to Reliability Finds Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2015/04/07 - In future, clients are more likely to adopt safety systems they are familiar with - Automotive.Frost.com.

   
 
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The European consumer base for passenger cars has traditionally embraced the latest technologies to enhance driving dynamics, connectivity, comfort and convenience. Although consumers in the region rate safety second to reliability, they are not only willing to pay for life-saving technologies, but also show interest in automated driving.

A new customer research study from Frost & Sullivan, Strategic Insight into Voice of European Consumers on Passenger Car Safety Systems, details the findings from Web-based surveys of 2,516 current car owners who reside in Europe, drive a car no older than a 2011 model, and intend to purchase a new car within the next three years. The study has identified three groups of customers based on their attitudes towards safety and driving behaviour sceptics, basic safety seekers and full feature seekers.

“Full feature and basic safety seekers, which make up 72 percent of the population, should be targeted to increase the adoption rate of safety systems in Europe,” said Frost & Sullivan Automotive & Transportation Senior Research Analyst Kamalesh Mohanarangam. “In terms of targeting priority, however, basic safety seekers come after full feature seekers, who are most often women with higher-than-average incomes and a strong willingness to pay a premium for safety features.”

Across consumer segments, familiarity with safety systems has been found to positively influence uptake rates and future purchase intentions. Accordingly, automatic emergency braking, which consumers are well acquainted with, has the highest potential for uptake. On the other hand, many of the driver warning and information systems are secondary features in preference.

“To enhance interest in automatic emergency braking and other safety systems, market participants need to implement appropriate pricing strategies as consumers give importance to value for money,” pointed out Frost & Sullivan Program Manager, Automotive & Transportation, Prana Natarajan. “For instance, market participants could consider adopting the product bundle pricing strategy to lower prices for customers and maximise profits generated from passenger car safety system installations.”

Vehicle prognostics, the connected car and cyber security are just a few of the current trends in the automotive and mobility space, which will be discussed during Frost & Sullivan’s annual industry event “Intelligent Mobility: Future Business Models in Connected and Automated Mobility”, taking place at the House of Lords and the Royal Garden Hotel in London on 1st and 2nd July 2015.

Strategic Insight into Voice of European Consumers on Passenger Car Safety Systems is part of the Automotive & Transportation (automotive.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: European Market for Vehicle-to-Vehicle and Vehicle-to-Infrastructure Communication Systems, Tyre Pressure Monitoring Systems Market in Europe, and Advanced Driver Assistance Systems (ADAS) Market in Europe. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
• The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
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Strategic Insight into Voice of European Consumers on Passenger Car Safety Systems (MAC9-18)

 
 
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European Consumers Rank Vehicle Safety Second Only to Reliability Finds Frost & Sullivan

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Publisher Contact: Katja Feick - Frost.com 
+49(0)69 7703343 katja.feick[.]frost.com
 
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