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The global automotive fintech market is poised for substantial growth, with projections indicating a compound annual growth rate (CAGR) of 9.22%, from $49.55 billion in 2022 to $54.12 billion in 2023. Looking ahead, the market is expected to reach $78.02 billion in 2027, with a CAGR of 9.57%. This upward trajectory is fueled by the rising automotive industry and a key trend: the introduction of automotive finance platforms embracing new zero-emission technology.

1. Revving Up Growth: The Role of the Automotive Industry

The surge in the automotive industry stands as a driving force propelling the growth of the automotive fintech market. With the automotive industry encompassing the manufacturing, development, and sales of vehicles, the advent of automotive fintech signifies the digitalization of financing and insurance processes. This digital transformation brings forth enhanced efficiency, simplicity, and benefits for automotive companies, including improved customer satisfaction, data analysis capabilities, and cost savings.

• Global Automotive Industry Statistics:
  • In 2021, new vehicle sales surged to 11,741 vehicles, marking an increase from 11,041 vehicle sales in 2020.
  • The automotive industry’s growth underscores the increasing demand for the automotive fintech market.

2. Industry Titans: Major Players Steering the Market

The automotive fintech market is shaped by major players contributing to its development, innovation, and market dynamics. Companies such as Liberty Mutual Group, Fiserv Inc., and Stripe Inc. play pivotal roles in advancing the capabilities of automotive fintech, providing a spectrum of services ranging from financing to insurance.

• Notable Industry Players:
  • Liberty Mutual Group
  • Fiserv Inc.
  • Stripe Inc.
  • Global Payments Inc.
  • Coinbase Global Inc.
  • Grab Financial Group
  • And more.

3. Trending Innovation: Automotive Finance Platforms for Electric Vehicles

A key trend gaining popularity in the automotive fintech market is the introduction of automotive finance platforms with a focus on adopting new zero-emission technology, particularly in electric vehicles (EVs). Major companies are aligning their strategies to finance electric vehicle sales, encouraging broader adoption of environmentally friendly transportation options.

• Recent Innovation:
  • Tenet, a climate financing company, launched an EV financing platform in June 2022.
  • The platform aims to accelerate electric vehicle adoption by providing a new model for EV financing.
  • Focus on encouraging consumers to adopt zero-emission technology for financial and sustainability goals.

4. Strategic Segmentation: Unveiling Market Dynamics

The global automotive fintech market is strategically segmented, providing insights into various aspects such as propulsion type, vehicle type, channel, and end-users that drive its growth.

Segmentation Highlights:

1. By Propulsion Type:
   • Internal Combustion Engine (ICE)
   • Electric
2. By Vehicle Type:
   • Passenger Car
   • Commercial Vehicle
3. By Channel:
   • On Demand
   • Subscription
4. By End User:
   • Digital Loans And Purchase
   • Online Leasing
   • Online Insurance
   • In-Vehicle Payments

5. Global Dynamics: North America Takes the Lead

In 2022, North America emerged as the largest region in the automotive fintech market, underscoring its prominent position in driving the market forward. As we look ahead, North America is expected to maintain its leadership, solidifying its status as the largest region in the automotive fintech market.

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The Automotive Fintech Global Market Report 2023  provides an overview of the automotive fintech market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive fintech market forecast analyzes automotive fintech market size, automotive fintech market share, leading competitor and their market positions.

The Table Of Content For The Automotive Fintech Market Include:
1. Automotive Fintech Market Executive Summary
2. Automotive Fintech Market Segments
3. Automotive Fintech Market Size And Automotive Fintech Market Growth Rate
4. Key Automotive Fintech Market Trends
5. Major Automotive Fintech Market Drivers
……
25. Key Mergers And Acquisitions In The Automotive Fintech Market
26. Top Automotive Fintech Companies
27. Automotive Fintech Market Opportunities And Strategies
28. Automotive Fintech Market, Conclusions And Recommendations
29. Appendix

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