Car Owners Willing To Pay For Technology

With an eye towards safety and security, more than 80% of car owners desire some type of in-vehicle technology as a standard feature. A recent survey by New York-based Accenture, found that 84% want their cars outfitted with in-vehicle technologies, including telematics -- variety of two-way wireless communication technologies, such as stolen vehicle tracking and vehicle diagnostics, among others. And they are willing to pay for it.

In fact, seven out of 10 respondents (71%) said that they would pay a factory installation fee for safety and security features, and 41% said they are willing to pay more than $50 for factory installation of these features. Almost half (47%) said they are willing to pay a monthly fee for these same in-vehicle technologies.

The most desired features include stolen-vehicle tracking (57%), remote door unlock (55%) and vehicle diagnostics (55%).

"Growing consumer demand for in-vehicle technologies promises significant market potential for manufacturers, particularly in the area of onboard vs. hand-held technologies," said Richard Spitzer, global managing partner of Accenture's automotive practice. "But the industry is currently fragmented, with products and services delivered by a variety of providers. Leaders that create new ways of providing those products and services, such as by bundling them in one monthly bill at a price commensurate with their value, will be able to capitalize on a burgeoning market."

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