New Jersey, United Kingdom, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “In-vehicle Payment Services Market By Mode Of Payment (QR Code/ RFID, App-based/e-wallet, Credit/Debit Card-based, and NFC), By Vehicle Type, By Form Factor, By Application, and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” in its research database
“According to the latest research study, the demand of global In-vehicle Payment Services Market size & share expected to reach to USD 7.66 Billion by 2026 from USD 3.09 Billion in 2020, at a compound annual growth rate (CAGR) of 16.3%% during the forecast period 2021 to 2026”
What are In-vehicle Payment Services? Report Overview & Coverage:
In-vehicle payment services related to vehicle systems that are equipped with a payment technology that allows drivers to see and complete transactions with a variety of businesses, including gas stations, smart parking, and toll gates. In-vehicle payment systems allow passengers to make purchases from their car dashboards without having to take out any cards or gadgets, saving time for drivers and allowing them to arrive at their destination in a safer, faster, and more efficient manner.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 193+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- Daimler AG
- BMW AG
- General Motors Co.
- Ford Motor Co.
- Honda Motor Co. Ltd.
- Volkswagen AG
- Gentex Corp.
- Jaguar Land Rover Automotive Plc
- Hyundai Motor Co.
- ZF Friedrichshafen AG
Key questions answered in this report:
- What is the projected market size & growth rate of the In-vehicle Payment Services Market?
- What are the key driving factors for the growth of the In-vehicle Payment Services Market?
- What are the top companies operative in In-vehicle Payment Services Market?
- What segments are covered in In-vehicle Payment Services Market?
- How can I get free sample reports/company profiles of the In-vehicle Payment Services Market?
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Market Growth Drivers
With the simplicity and convenience that various modalities of payment services provider to their drivers and passengers, in-vehicle payment services are gaining popularity. Automobile manufacturers like Mercedes-Benz, Honda, Jaguar Land Rover, BMW, General Motors, and Ford have included solutions and services into their vehicles. In-vehicle payment systems are likely to grow in popularity in the future years as linked automobiles and sophisticated entertainment become more common. Vehicle owners are currently searching for a hassle-free experience and an enhanced lifestyle in their hectic schedules. As a result, the ability to buy, order, and pay on the move without having to use a card or cash transaction saves time and allows commuters to travel securely. As a result, payment service providers such as MasterCard, Visa, and PayPal are aggressively forming alliances and cooperation with OEMs in order to provide effective in-vehicle payment systems.
The global pandemic has had a significant impact on the global economy. Due to the lockdowns and other limitations imposed by governments in various regions of the world as part of their efforts to contain the spread of the virus, supply chains have been interrupted and manufacturing activities at many production facilities have been temporarily suspended. As a result, COVID-19 had a negative influence on the market in the short term. Nonetheless, the growing demand among individuals for contactless payments to avoid any potential exposure to coronavirus, as urged by various governments, is projected to contribute to the expansion of the in-vehicle payment services market in the post-COVID-19 period.
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Global In-vehicle Payment Services Market: Report Scope
| Report Attribute | Details |
| Market Size 2020 Value | USD 3.09 Billion |
| Market Forecast for 2026 | USD 7.66 Billion |
| Expected CAGR Growth | CAGR 16.3% from 2021-2026 |
| Base Year | 2020 |
| Forecast Year | 2021-2026 |
| Top Market Players | Daimler AG, BMW AG, General Motors Co., Ford Motor Co., Honda Motor Co. Ltd., Volkswagen AG, Gentex Corp., and Others |
| Segments Covered | Mode of Payment, Vehicle Types, Form Factor, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Pricing Options | Request customized purchase options to meet your research needs. Explore purchase options |
Market Segmentation
The global in-vehicle payment services market is segmented on the basis of mode of payment as QR code/ RFID, app-based/e-wallet, credit/debit card-based, and NFC. By vehicle types, the market is divided into passenger cars, light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and automated guided vehicles. By form factor, the market is segmented into an embedded system, tethered system, and integrated system. By application, the market is divided into shopping; gas/charging stations, food and beverages, toll collection, parking, and others.
Browse Detail Report on Worldwide In-vehicle Payment Services Market Size & Share Insights [2021-2026]
Also Read, Press Release on In-vehicle Payment Services 2021
Regional Dominance:
- North America is projected To Dominate the Global In-vehicle Payment Services Market
Regionally the in-vehicle payment services market is segmented into five parts namely North America, Europe, Latin America, Asia Pacific, and The Middle East and Africa.
In 2020, North America had the highest revenue share, accounting for approximately more than 39% of the market share. The area has the highest percentage of linked vehicles. Furthermore, technological firms located in North America, such as Apple Inc. and Google Inc., have joined the automobile sector with their ability to develop and compete with automotive companies.
Similarly, in-between 2021 to 2026, the Asia Pacific regional market is expected to grow at a rapid rate. The expansion of the regional market is projected to be grow owing to the expanding population and rising levels of disposable income. Over the projection period, the adoption of the most modern technologies and continuous advancements in the way payments are made and processed will also play a key part in fuelling the regional market's growth.
Browse the full report “In-vehicle Payment Services Market By Mode Of Payment (QR Code/ RFID, App-based/e-wallet, Credit/Debit Card-based, and NFC), By Vehicle Type (Passenger cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), and Automated Guided Vehicles), By Form Factor (Embedded System, Tethered System, and Integrated System), By Application (Shopping, Gas/Charging Stations, Food and Beverages, Toll Collection, Parking, and Others), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/in-vehicle-payment-services-market
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The global in-vehicle payment services market is segmented as follows:
By Mode of Payment:
- QR Code/ RFID
- App-based/e-wallet
- Credit/Debit Card-based
- NFC
By Vehicle Types:
- Passenger cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Automated Guided Vehicles
By Form Factor:
- Embedded System
- Tethered System
- Integrated System
By Application:
- Shopping
- Gas/Charging Stations
- Food and Beverages
- Toll Collection
- Parking
- Others
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