PUBLISHER: Allied Market Research | PRODUCT CODE: 1043880
PUBLISHER: Allied Market Research | PRODUCT CODE: 1043880
In-vehicle payment services allows the vehicle driver to purchase from the vehicle by using connected payment devices. Increase in adoption of in-vehicle payment among the vehicle users as it offers several benefits such as immediately sending money at the fuel station and streamlining the payment transaction process, accelerate the growth of the market across the globe.
In addition, the toll collection centers are using the in-vehicle payment technology to securely collect fees from driver account, which accelerate the growth of the market across the globe. Furthermore, in-vehicle payment services enable proper and flawless functioning of payment application in the travelling industry. These functions allow users to quickly and easily transfer funds from one account to another without any contact with the end user.
Rise in need for hassle free payment system at parking spaces, toll plazas, and gas stations and surge in preference of contactless payment among the end users are some of the important factors that boost the growth of the market across the globe. In addition, surge in production of autonomous vehicles across the globe positively impacts the growth of the in-vehicle payment services market. However, surge in online fraud and cyber-attacks across the globe hampers the market growth. On the contrary, rise in adoption of technologically advanced car such as self-driven and connected cars is expected to offer remunerative opportunities for market expansion during the forecast period.
The in-vehicle payment services market is segmented on the basis of offering, payment mode, vehicle type, application and region. By offering, the market is bifurcated into solutions and service. By payment mode, it is categorized into credit/debit card, app/E-Wallet, QR code/RFID and others. Based on the vehicle type, the market is divided into light duty vehicle (LDV) and heavy duty vehicle (HDV). By application, the market is divided into toll/parking, fuel/charging stations, food/ groceries and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the in-vehicle payment services market analysis are Amazon Web Service, Inc., Daimler AG, Ford Motors Company, General Motors, Google LLC, Hyundai Motor, IBM Corporation, Mastercard, VISA Inc. and Volkswagen AG. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
The study provides an in-depth analysis of the global in-vehicle payment services market forecast along with the current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on global in-vehicle payment services market trends is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
By Offering
By Payment Mode
By Vehicle Type
By Application
By Region