The global In-vehicle Payment Services market size is expected to reach USD 18.6 billion by 2030 and is expected to expand at a CAGR of 18.4% from 2021 to 2030.
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Growth Factors
The increasing spending by automakers on enabling drivers to make payments and authenticate transactions from the vehicle itself coupled with the rising levels of disposable income, especially in the developed economies, and the growing preference for are expected to drive the growth of the market over the forecast period. Busy schedules are prompting drivers to look forward to hassle-free experiences as part of an upgraded lifestyle.
The growing preference for contactless payment methods in the wake of the COVID-19 pandemic and continued innovations in smart vehicles also bode well for the growth of the market.
Report Coverage
| Report Scope | Details |
| Market Size | USD 18.6 billion by 2030 |
| Growth Rate | CAGR of 18.4% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Mode of payment, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | BMW AG; Daimler AG; Ford Motor Co.; General Motors Co.; Honda Motor Co. Ltd.; Hyundai Motor Co.; Jaguar Land Rover Automotive PLC; Volkswagen AG; ZF Friedrichshafen AG; Google; Amazon; Visa; MasterCard; PayPal |
Report Highlights
The credit/debit card segment accounted for the largest revenue share of around 56% in 2020. Debit and credit cards remain the most popular payment modes and are used extensively to make contactless payments. The growing preference for cards and card-less transactions and post cash transactions among various age groups is expected to contribute to the growth of the market over the forecast period.
The rising popularity of digital payment methods and the convenience and ease associated with wallet payments are particularly encouraging individuals to adopt in-vehicle payment services, thereby contributing to the growth of the segment.
The food/coffee segment accounted for the highest revenue share of more than 28% in 2020. The demand for various on-the-go beverages and foods is growing among passengers and drivers due to rising traffic issues across the globe.
The parking segment is projected to register the fastest CAGR of more than 20% from 2021 to 2030. The growing number of passenger and commercial vehicles is particularly expected to contribute to the growth of the parking segment over the forecast period.
North America accounted for the largest revenue share of more than 39% in 2020. The region has the maximum penetration of connected cars.
The Asia Pacific regional market is projected to register the fastest CAGR of 20.1% from 2021 to 2030. The growing population and the rising levels of disposable income are expected to contribute to the growth of the regional market.
Key Players
- BMW AG
- Daimler AG
- Ford Motor Co.
- General Motors Co.
- Honda Motor Co. Ltd.
- Hyundai Motor Co.
- Jaguar Land Rover Automotive PLC
- Volkswagen AG
- ZF Friedrichshafen AG
- Amazon
- Visa
- MasterCard
- PayPal
Market Segmentation
- Mode of Payment
- NFC
- QR Code/RFID
- App/e-wallet
- Credit/Debit card
- Application
- Parking
- Gas/Charging Stations
- Shopping
- Food/Coffee
- Toll Collection
- Others
- Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global In-vehicle Payment Services Market, By Mode of Payment
7.1. In-vehicle Payment Services Market, by Mode of Payment, 2021-2030
7.1.1. NFC
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. QR Code/RFID
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. App/e-wallet
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Credit/Debit card
7.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global In-vehicle Payment Services Market, By Application
8.1. In-vehicle Payment Services Market, by Application, 2021-2030
8.1.1. Parking
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Gas/Charging Stations
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Shopping
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Food/Coffee
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Toll Collection
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global In-vehicle Payment Services Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Mode of Payment (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. BMW AG
10.1.1. Company Overview
10.1.2. Mode of Payment Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Daimler AG.
10.2.1. Company Overview
10.2.2. Mode of Payment Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Ford Motor Co.
10.3.1. Company Overview
10.3.2. Mode of Payment Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. General Motors Co.
10.4.1. Company Overview
10.4.2. Mode of Payment Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Honda Motor Co. Ltd.
10.5.1. Company Overview
10.5.2. Mode of Payment Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Hyundai Motor Co.
10.6.1. Company Overview
10.6.2. Mode of Payment Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Jaguar Land Rover Automotive PLC
10.7.1. Company Overview
10.7.2. Mode of Payment Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Volkswagen AG
10.8.1. Company Overview
10.8.2. Mode of Payment Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. ZF Friedrichshafen AG
10.9.1. Company Overview
10.9.2. Mode of Payment Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Google
10.10.1. Company Overview
10.10.2. Mode of Payment Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
10.11. Amazon
10.11.1. Company Overview
10.11.2. Mode of Payment Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives
10.12. Visa
10.12.1. Company Overview
10.12.2. Mode of Payment Offerings
10.12.3. Financial Performance
10.12.4. Recent Initiatives
10.13. MasterCard
10.13.1. Company Overview
10.13.2. Mode of Payment Offerings
10.13.3. Financial Performance
10.13.4. Recent Initiatives
10.14. PayPal
10.14.1. Company Overview
10.14.2. Mode of Payment Offerings
10.14.3. Financial Performance
10.14.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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