Global In-Vehicle Payment Services Market Outlook, Opportunities And Strategies – Includes In-Vehicle Payment Services Market Analysis
Learn about the global in-vehicle payment services market through The Business Research Company, which provides information on in-vehicle payment services market size, in-vehicle payment services market drivers and restraints, in-vehicle payment services market players, the COVID-19 impact on the in-vehicle payment services market, and more.
The global in-vehicle payment services market size is expected to grow from $3.08 billion in 2021 to $3.47 billion in 2022 at a compound annual growth rate (CAGR) of 12.5%. The global in-vehicle payment service market size is expected to grow to $5.04 billion in 2026 at a CAGR of 9.8%.
The growing preference for contactless payments is significantly driving the growth of the in-vehicle payment services market.
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The in-vehicle payment services market consists of sales of in-vehicle payment services by entities (organizations, partnerships, and sole proprietors) that enable payments from the vehicles. In-vehicle payment services allow car owners to make purchases directly from their dashboards, eliminating the need for a smartphone or other device, as the vehicle handles the transactions.
Global In-Vehicle Payment Services Market Segments Include:
By Mode of Payment: QR Code or RFID, App-Based or e-Wallet, Credit or Debit Card-Based, Others
By Form Factor: Embedded System, Tethered System, Integrated System
By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Automated Guided Vehicles
By Application: Shopping, Gas or Charging Stations, Food and Beverages, Toll Collection, Parking, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the in-vehicle payment service market in 2021.
Technological advancements have emerged as the key trend gaining popularity in the in-vehicle payment services market. Major companies operating in the in-vehicle payments market are focused on bringing advancements in technologies to strengthen their position.
Major Market Players: MasterCard, The Mercedes-Benz Group, Jaguar Land Rover Automotive PLC, Honda Global, Hyundai Motor Company, ZF Friedrichshafen AG, Amazon, Google, International Business Machines Corporation, Telenav Inc, Xevo Inc, CarPay Diem Cerence Inc, and Gentex Corporation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The In-Vehicle Payment Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides in-vehicle payment services market overviews, analyzes and forecasts market size, share, in-vehicle payment services market players, in-vehicle payment services market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s in-vehicle payment services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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