In-Vehicle Payment Service Market Report: Trends, Forecast and Competitive Analysis to 2030

In Vehicle Payment Service Trends and Forecast

The future of the global in-vehicle payment service market looks promising with opportunities in the parking, gas/charging station, shopping, food/coffee, and toll collection markets. The global in-vehicle payment service market is expected to reach an estimated $8.1 billion by 2030 with a CAGR of 14.5% from 2024 to 2030. The major drivers for this market are advancement in the internet of things (IoT) technology, rising preferences for contactless payment methods, and growing usage of driver assistance systems.

A more than 150-page report is developed to help in your business decisions.

In Vehicle Payment Service by Segment

The study includes a forecast for the global in-vehicle payment service market by mode of payment, application, and region.

In-Vehicle Payment Service Market by Mode of Payment [Shipment Analysis by Value from 2018 to 2030]:

• NFC
• QR code/RFID
• App/E-Wallet
• Credit/Debit Card

In-Vehicle Payment Service Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Parking
• Gas/Charging Stations
• Shopping
• Food/Coffee
• Toll Collection
• Others

In-Vehicle Payment Service Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of In Vehicle Payment Service Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies in-vehicle payment service companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the in-vehicle payment service companies profiled in this report include-

• BMW
• Daimler
• Ford Motor
• General Motors
• Honda Motor
• Hyundai Motor
• Jaguar Land Rover
• Volkswagen
• Google
• Paypal

In-Vehicle Payment Service Market Insights

Lucintel forecasts that credit/debit card will remain the largest segment over the forecast period due to rising preferences for card and cardless transactions, as well as, post cash transactions among individuals belonging to various age groups.

North America will remain the largest region over the forecast period due to high adoption of connected vehicles in this region.

Features of the Global In-Vehicle Payment Service Market

Market Size Estimates: In-vehicle payment service market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: In-vehicle payment service market size by mode of payment, application, and region in terms of value ($B).

Regional Analysis: In-vehicle payment service market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different mode of payment, application, and regions for the In-Vehicle Payment Service Market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the In-Vehicle Payment Service Market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the in-vehicle payment service market size?

Answer: The global in-vehicle payment service market is expected to reach an estimated $8.1 billion by 2030.

Q.2 What is the growth forecast for in-vehicle payment service market?

Answer: The global in-vehicle payment service market is expected to grow with a CAGR of 14.5% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the in-vehicle payment service market?

Answer: The major drivers for this market are advancement in the internet of things (IoT) technology, rising preferences for contactless payment methods, and growing usage of driver assistance systems.

Q4. What are the major segments for in-vehicle payment service market?

Answer: The future of the global in-vehicle payment service market looks promising with opportunities in the parking, gas/charging station, shopping, food/coffee, and toll collection markets.

Q5. Who are the key in-vehicle payment service market companies?

Answer: Some of the key in-vehicle payment service companies are as follows:

• BMW
• Daimler
• Ford Motor
• General Motors
• Honda Motor
• Hyundai Motor
• Jaguar Land Rover
• Volkswagen
• Google
• Paypal

Q6. Which in-vehicle payment service market segment will be the largest in future?

Answer: Lucintel forecasts that credit/debit card will remain the largest segment over the forecast period due to rising preferences for card and cardless transactions, as well as, post cash transactions among individuals belonging to various age groups.

Q7. In in-vehicle payment service market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to high adoption of connected vehicles in this region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the in-vehicle payment service market by mode of payment (NFC, QR code/RFID, app/e-wallet, and credit/debit card), application (parking, gas/charging stations, shopping, food/coffee, toll collection, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?