CORRECTING and REPLACING PHOTO Strategy Analytics Identifies Driving Forces and Barriers for EV Adoption

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STRATEGY ANALYTICS IDENTIFIES DRIVING FORCES AND BARRIERS FOR EV ADOPTION

New Research Reveals Insights on How to Influence EV Buyers

Strategy Analytics announces insights on action for Influencing EV Buyers in China, the US, and UK. (https://marketing.strategyanalytics.com/l/918723/2021-08-18/71lr)

“The coming global wave of EVs consists of four major consumer segments with different motivations and barriers for adoption,“ said Harvey Cohen, President, Strategy Analytics. “The driving forces creating the upward EV trend are clear but consumers must be motivated to overcome “Charging Anxiety” and the “EV Price Premium” before widespread adoption will occur.”

Joy Ganvik, Vice President, Consumer Insights Practice, noted, “Our research shows there is the presence of these four segments (Concerned Traditionalists, Urban EcoTech, Driving Passion, and Eco Utility) in China, the UK, and the US in different proportions. The greater the existence of the traditional love affair with the car (Driving Passion), the lower the incidence of early adopters. As seen in the included chart, China has a low incidence of Driving Passion (8%) and much higher incidence of Eco Utility which accounts for the accelerated development of the EV market there.”

Ian Riches, Vice President for Strategy Analytics’ Global Automotive Practice commented, “This research provides additional insights into the long run potential for EVs as well as the persistence of demand for hybrid vehicles over the intermediate term.”

“Strategy Analytics will be doing additional analysis of consumer demand for Electric Vehicles as well as analysis of consumer behavioral analysis for Autonomous Vehicle capabilities later this summer,” said Harvey Cohen.

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Source: Strategy Analytics, Inc.

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Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in: smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.

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