Global In-Vehicle Payment System Market Overview

Global In-Vehicle Payment System Market Size Was Valued at USD 3.48 Billion In 2021, And Is Projected to Reach USD 12.32 Billion By 2028, Growing at A CAGR of 19.8% From 2022 To 2028.

In-car payment services allow drivers to order and pay for items such as food, coffee, gasoline, groceries, parking spaces, and tolls without having to exit their vehicle. The market is predicted to increase due to advancements in Internet of Things (IoT) technology and strong efforts by various automakers to integrate new, advanced infotainment systems into their vehicle models over the forecast period. Several automakers are teaming up with credit card firms like VISA and MasterCard to implement in-car payment systems into their vehicles. This technology effectively turns the vehicle into a wallet, eliminating the need for the driver to exit the vehicle to pay for gas or a parking spot. The driver or vehicle owner will no longer need to carry cash in his or her wallet. Although most gas stations accept card and smartphone payments, the in-vehicle payment system eliminates the need to carry cash in wallet. The rising use of contactless payment methods in the aftermath of the COVID-19 pandemic, as well as further advancements in smart vehicles, augur well for the market's growth.

In-Vehicle Payment System Market

Market Dynamics and Factors for In-Vehicle Payment System Market                                       

Drivers:

At the moment, there are large crowds at every toll plaza, fuel pump, and parking spot, and the in-vehicle payment system can help to avoid these crowds and save time. Passengers can use the in-vehicle payment system to make purchases from the dashboards of their automobiles without having to use cash or a credit card. Advances in technology, such as the Internet of Things and linked vehicle technologies, have led OEMs to form partnerships with retailers and payment businesses to provide in-vehicle payment services. The automotive in-vehicle payment business is being propelled by the growing trend toward autonomous vehicles. Artificial intelligence incorporated into the car controls the entire payment mechanism at toll plazas or fuel pumps.

Restraints:

Consumers continue to be frustrated with the patchy coverage, especially among independent stores, as retailers progressively implement contactless payments. However, in the previous few years, there has been an increase. Furthermore, because a contactless card transaction does not require PIN authentication, there is a risk of fraudulent transactions if the card is lost or stolen. It's always a good idea to notify the issuing bank in such a situation. Most banks offer a 100 percent fraud guarantee, absolving any liability as long as it use responsibly.

Opportunities:

Automobile makers are concentrating their efforts on developing built-in technology, such as voice-based controls, that might allow drivers to shop while on the road without jeopardizing road safety. Given the potential for a voice-activated dashboard to divert the driver's attention, drivers must always prioritize road safety when shopping while driving. According to a study conducted at the University of Utah, speech-to-text technology can create significant cognitive disruption because conversing with a dashboard requires more effort than conversing with a person. At this point, advancements in self-driving and connected automobile technologies will be critical in propelling the market forward over the forecast year. Over the forecast period, the market for in-vehicle payment services is expected to rise due to the increasing usage of driver assistance systems. Driver assistance systems assist drivers in a variety of ways, including hassle-free parking and making purchases directly from the control panel without the use of any extra devices or cards.

Challenge:

Customers are still wary of using a contactless payment facility, even though it is backed by a robust fraud detection system and multi-layered security. This cautious attitude may hinder firms from implementing and supporting tap-to-pay payments. When it comes to mobile contactless payments, consumers confront certain technical challenges like customers need to have NFC-enabled smartphones to use the mobile tap-to-pay system. Such challenges need to be addressed by system enablers.

Segmentation Analysis of In-Vehicle Payment System Market

By Mode of Payment, The credit/debit card segment dominates the Vehicle Payment System Market with around 53 percent. Debit and credit cards continue to be the most common payment methods, and they are widely used for both contact and contactless transactions. Over the projected period, the increased demand for card and card-less transactions, as well as post-cash transactions, among people of various ages, are expected to contribute to the market's growth. In 2021, the app/e-wallet sector accounted for a substantial portion of the market, and it is expected to grow at a CAGR of 14.2% from 2022 to 2030. Individuals are increasingly using in-vehicle payment services as a result of the expanding popularity of digital payment methods and the convenience and ease associated with wallet payments, contributing to the market's growth. As a result, a variety of apps or wallets, such as Amazon Pay, Google Pay, AliPay, Apple Pay, Venmo, and Samsung Pay, are popular for making payments. Meanwhile, as part of their efforts to aid consumers in shopping and making payments interactively, Amazon and Google have linked their sophisticated virtual assistants to their respective payment gateways and e-wallets.

By Application, The food/coffee segment had a high revenue share of roughly 27 percent. Passengers and drivers increasingly prefer to order coffee and meals on their journey to work, offices, or other destinations. Due to the increasing traffic, drivers have concluded that waiting for food and coffee will be impossible. As a result, drivers prefer to place orders, pay for them in the vehicle, and pick up their goods on the way to save time and minimize inconvenience, boosting the popularity of in-vehicle payment services. The In-Vehicle payment system can be useful in Toll Plaza, Gas Stations as well as in parking lot. Hence, Such wide application will further boost the growth of the Vehicle Payment System Market.

Regional Analysis of In-Vehicle Payment System Market

North America is dominating the In-Vehicle Payment System Market. The region has the highest percentage of connected vehicles. Furthermore, technological businesses situated in North America, such as Apple Inc. and Google Inc., have entered the automobile market with their ability to develop and compete with automotive companies. Also, the payment gateway companies like MasterCard and Visa are pushing new services in terms of contactless payments and IoT device-based payment systems which are receiving large popularity. For Instance, Visa and SiriusXM e-wallet collaborated to improve how customers spend their time in vehicles. This included the SiriusXM e-wallet, an in-vehicle payment solution that integrates into the dashboard and allows drivers and passengers to shop for coffee, find and pre-pay for petrol, discover and pay for parking, buy movie tickets, and pay tolls. Biometric authentication is used to activate and authenticate payments made using a Visa account, which helps to eliminate driver distractions. This partnership is being pitched to major automakers in the connected vehicle sector, mainly in North America.

The Asia Pacific is one of the fastest-growing regions in the Vehicle Payment System Market. The expansion is projected to be aided by a growing population and rising levels of disposable income. Over the projection period, the adoption of the most advanced technology and further improvements in the way payments are made and processed will also play a key role in driving growth. Also, there is a large potential in the Asia Pacific due to the number of cars on the road which presents a lucrative market for big companies to invest in the region which further propels the growth of the Vehicle Payment System Market.

COVID-19 Impact on In-Vehicle Payment System Market

The market for in-vehicle payment services has grown significantly in recent years; however, due to the outbreak of the COVID-19 pandemic, the market is expected to decline sharply in 2020. This is due to governments implementing lockdown in the majority of countries, as well as increased restrictions on foreign travel. During the COVID-19 outbreak, an increase in the number of COVID-19 patients around the world, as well as increased travel restrictions hampered the expansion of the in-vehicle payment services business. On the contrary, after COVID-19, the rise in digitalization in the travel industry is likely to give a lucrative opportunity to boost the market growth.

Players Covered in In-Vehicle Payment System Market are

  • BMW AG
  • CarPay Diem Cerence Inc.
  • Daimler AG
  • General Motors Company
  • Gentex Corporation
  • Harman International Industries Inc.
  • Honda Motor Company Ltd.
  • Hyundai Motor Company
  • Jaguar Land Rover Automotive PLC
  • Mastercard Inc.
  • Telenav Inc.
  • ThinxNet GmbH
  • Visa Inc.
  • Xevo Inc.
  • ZF Friedrichshafen AG. and other major players.

Key Industry Developments in the In-Vehicle Payment System Market

May 2021, Prakopedia introduced a multi-domain platform with it integrated facilities for all major vehicle brands including EV charging, Parking, and gas stations.

September 2021, BP Ventures to invest in Ryd One about USD 11.9 Million in Europe. The investment is expected to boost the international expansion of Ryd One.

Global In-Vehicle Payment System Market

Base Year:

2021

Forecast Period:

2022-2028

Historical Data:

2016 to 2020

Market Size in 2021:

USD 3.48 Bn.

Forecast Period 2022-28 CAGR:

19.8%

Market Size in 2028:

USD 12.32 Bn.

Segments Covered:

By Mode of Payment

  • NFC
  • QR Code/RFID
  • App/e-wallet
  • Credit/Debit card

By Application Outlook

  • Parking
  • Gas/charging stations
  • Shopping
  • Food/Coffee
  • Toll Collection
  • Other

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Advances in Technology Such as The Internet of Things and Linked Vehicle Technologies

Key Market Restraints:

  • Risk of Fraudulent Transactions

Key Opportunities:

  • Developing Built-In Technology Such as Voice-Based Controls

Companies Covered in the report:

  • BMW AG, CarPay Diem Cerence Inc., Daimler AG, General Motors Company, Gentex Corporation, and Other major players.

Chapter 1: Introduction
ā€ƒ1.1 Research Objectives
ā€ƒ1.2 Research Methodology
ā€ƒ1.3 Research Process
ā€ƒ1.4 Scope and Coverage
ā€ƒā€ƒ1.4.1 Market Definition
ā€ƒā€ƒ1.4.2 Key Questions Answered
ā€ƒ1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
ā€ƒ3.1 By Mode of Payment
ā€ƒ3.2 By Application Outlook

Chapter 4: Market Landscape
ā€ƒ4.1 Porter's Five Forces Analysis
ā€ƒā€ƒ4.1.1 Bargaining Power of Supplier
ā€ƒā€ƒ4.1.2 Threat of New Entrants
ā€ƒā€ƒ4.1.3 Threat of Substitutes
ā€ƒā€ƒ4.1.4 Competitive Rivalry
ā€ƒā€ƒ4.1.5 Bargaining Power Among Buyers
ā€ƒ4.2 Industry Value Chain Analysis
ā€ƒ4.3 Market Dynamics
ā€ƒā€ƒ4.3.1 Drivers
ā€ƒā€ƒ4.3.2 Restraints
ā€ƒā€ƒ4.3.3 Opportunities
ā€ƒā€ƒ4.5.4 Challenges
ā€ƒ4.4 Pestle Analysis
ā€ƒ4.5 Technological Roadmap
ā€ƒ4.6 Regulatory Landscape
ā€ƒ4.7 SWOT Analysis
ā€ƒ4.8 Price Trend Analysis
ā€ƒ4.9 Patent Analysis
ā€ƒ4.10 Analysis of the Impact of Covid-19
ā€ƒā€ƒ4.10.1 Impact on the Overall Market
ā€ƒā€ƒ4.10.2 Impact on the Supply Chain
ā€ƒā€ƒ4.10.3 Impact on the Key Manufacturers
ā€ƒā€ƒ4.10.4 Impact on the Pricing

Chapter 5: In-Vehicle Payment System Market by Mode of Payment
ā€ƒ5.1 In-Vehicle Payment System Market Overview Snapshot and Growth Engine
ā€ƒ5.2 In-Vehicle Payment System Market Overview
ā€ƒ5.3 NFC
ā€ƒā€ƒ5.3.1 Introduction and Market Overview
ā€ƒā€ƒ5.3.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ5.3.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.3.4 NFC: Grographic Segmentation
ā€ƒ5.4 QR Code/RFID
ā€ƒā€ƒ5.4.1 Introduction and Market Overview
ā€ƒā€ƒ5.4.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ5.4.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.4.4 QR Code/RFID: Grographic Segmentation
ā€ƒ5.5 App/e-wallet
ā€ƒā€ƒ5.5.1 Introduction and Market Overview
ā€ƒā€ƒ5.5.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ5.5.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.5.4 App/e-wallet: Grographic Segmentation
ā€ƒ5.6 Credit/Debit card
ā€ƒā€ƒ5.6.1 Introduction and Market Overview
ā€ƒā€ƒ5.6.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ5.6.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.6.4 Credit/Debit card: Grographic Segmentation

Chapter 6: In-Vehicle Payment System Market by Application Outlook
ā€ƒ6.1 In-Vehicle Payment System Market Overview Snapshot and Growth Engine
ā€ƒ6.2 In-Vehicle Payment System Market Overview
ā€ƒ6.3 Parking
ā€ƒā€ƒ6.3.1 Introduction and Market Overview
ā€ƒā€ƒ6.3.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.3.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.3.4 Parking: Grographic Segmentation
ā€ƒ6.4 Gas/charging stations
ā€ƒā€ƒ6.4.1 Introduction and Market Overview
ā€ƒā€ƒ6.4.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.4.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.4.4 Gas/charging stations: Grographic Segmentation
ā€ƒ6.5 Shopping
ā€ƒā€ƒ6.5.1 Introduction and Market Overview
ā€ƒā€ƒ6.5.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.5.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.5.4 Shopping: Grographic Segmentation
ā€ƒ6.6 Food/Coffee
ā€ƒā€ƒ6.6.1 Introduction and Market Overview
ā€ƒā€ƒ6.6.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.6.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.6.4 Food/Coffee: Grographic Segmentation
ā€ƒ6.7 Toll Collection
ā€ƒā€ƒ6.7.1 Introduction and Market Overview
ā€ƒā€ƒ6.7.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.7.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.7.4 Toll Collection: Grographic Segmentation
ā€ƒ6.8 Other
ā€ƒā€ƒ6.8.1 Introduction and Market Overview
ā€ƒā€ƒ6.8.2 Historic and Forecasted Market Size (2016-2028F)
ā€ƒā€ƒ6.8.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ6.8.4 Other: Grographic Segmentation

Chapter 7: Company Profiles and Competitive Analysis
ā€ƒ7.1 Competitive Landscape
ā€ƒā€ƒ7.1.1 Competitive Positioning
ā€ƒā€ƒ7.1.2 In-Vehicle Payment System Sales and Market Share By Players
ā€ƒā€ƒ7.1.3 Industry BCG Matrix
ā€ƒā€ƒ7.1.4 Ansoff Matrix
ā€ƒā€ƒ7.1.5 In-Vehicle Payment System Industry Concentration Ratio (CR5 and HHI)
ā€ƒā€ƒ7.1.6 Top 5 In-Vehicle Payment System Players Market Share
ā€ƒā€ƒ7.1.7 Mergers and Acquisitions
ā€ƒā€ƒ7.1.8 Business Strategies By Top Players
ā€ƒ7.2 BMW AG
ā€ƒā€ƒ7.2.1 Company Overview
ā€ƒā€ƒ7.2.2 Key Executives
ā€ƒā€ƒ7.2.3 Company Snapshot
ā€ƒā€ƒ7.2.4 Operating Business Segments
ā€ƒā€ƒ7.2.5 Product Portfolio
ā€ƒā€ƒ7.2.6 Business Performance
ā€ƒā€ƒ7.2.7 Key Strategic Moves and Recent Developments
ā€ƒā€ƒ7.2.8 SWOT Analysis
ā€ƒ7.3 CARPAY DIEM CERENCE INC.
ā€ƒ7.4 DAIMLER AG
ā€ƒ7.5 GENERAL MOTORS COMPANY
ā€ƒ7.6 GENTEX CORPORATION
ā€ƒ7.7 HARMAN INTERNATIONAL INDUSTRIES INC.
ā€ƒ7.8 HONDA MOTOR COMPANY LTD.
ā€ƒ7.9 HYUNDAI MOTOR COMPANY
ā€ƒ7.10 JAGUAR LAND ROVER AUTOMOTIVE PLC
ā€ƒ7.11 MASTERCARD INC.
ā€ƒ7.12 TELENAV INC.
ā€ƒ7.13 THINXNET GMBH
ā€ƒ7.14 VISA INC.
ā€ƒ7.15 XEVO INC.
ā€ƒ7.16 ZF FRIEDRICHSHAFEN AG
ā€ƒ7.17 OTHER MAJOR PLAYERS

Chapter 8: Global In-Vehicle Payment System Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ8.1 Market Overview
ā€ƒ8.2 Historic and Forecasted Market Size By Mode of Payment
ā€ƒā€ƒ8.2.1 NFC
ā€ƒā€ƒ8.2.2 QR Code/RFID
ā€ƒā€ƒ8.2.3 App/e-wallet
ā€ƒā€ƒ8.2.4 Credit/Debit card
ā€ƒ8.3 Historic and Forecasted Market Size By Application Outlook
ā€ƒā€ƒ8.3.1 Parking
ā€ƒā€ƒ8.3.2 Gas/charging stations
ā€ƒā€ƒ8.3.3 Shopping
ā€ƒā€ƒ8.3.4 Food/Coffee
ā€ƒā€ƒ8.3.5 Toll Collection
ā€ƒā€ƒ8.3.6 Other

Chapter 9: North America In-Vehicle Payment System Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ9.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ9.2 Impact of Covid-19
ā€ƒ9.3 Key Players
ā€ƒ9.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ9.4 Historic and Forecasted Market Size By Mode of Payment
ā€ƒā€ƒ9.4.1 NFC
ā€ƒā€ƒ9.4.2 QR Code/RFID
ā€ƒā€ƒ9.4.3 App/e-wallet
ā€ƒā€ƒ9.4.4 Credit/Debit card
ā€ƒ9.5 Historic and Forecasted Market Size By Application Outlook
ā€ƒā€ƒ9.5.1 Parking
ā€ƒā€ƒ9.5.2 Gas/charging stations
ā€ƒā€ƒ9.5.3 Shopping
ā€ƒā€ƒ9.5.4 Food/Coffee
ā€ƒā€ƒ9.5.5 Toll Collection
ā€ƒā€ƒ9.5.6 Other
ā€ƒ9.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ9.6.1 U.S.
ā€ƒā€ƒ9.6.2 Canada
ā€ƒā€ƒ9.6.3 Mexico

Chapter 10: Europe In-Vehicle Payment System Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ10.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ10.2 Impact of Covid-19
ā€ƒ10.3 Key Players
ā€ƒ10.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ10.4 Historic and Forecasted Market Size By Mode of Payment
ā€ƒā€ƒ10.4.1 NFC
ā€ƒā€ƒ10.4.2 QR Code/RFID
ā€ƒā€ƒ10.4.3 App/e-wallet
ā€ƒā€ƒ10.4.4 Credit/Debit card
ā€ƒ10.5 Historic and Forecasted Market Size By Application Outlook
ā€ƒā€ƒ10.5.1 Parking
ā€ƒā€ƒ10.5.2 Gas/charging stations
ā€ƒā€ƒ10.5.3 Shopping
ā€ƒā€ƒ10.5.4 Food/Coffee
ā€ƒā€ƒ10.5.5 Toll Collection
ā€ƒā€ƒ10.5.6 Other
ā€ƒ10.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ10.6.1 Germany
ā€ƒā€ƒ10.6.2 U.K.
ā€ƒā€ƒ10.6.3 France
ā€ƒā€ƒ10.6.4 Italy
ā€ƒā€ƒ10.6.5 Russia
ā€ƒā€ƒ10.6.6 Spain
ā€ƒā€ƒ10.6.7 Rest of Europe

Chapter 11: Asia-Pacific In-Vehicle Payment System Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ11.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ11.2 Impact of Covid-19
ā€ƒ11.3 Key Players
ā€ƒ11.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ11.4 Historic and Forecasted Market Size By Mode of Payment
ā€ƒā€ƒ11.4.1 NFC
ā€ƒā€ƒ11.4.2 QR Code/RFID
ā€ƒā€ƒ11.4.3 App/e-wallet
ā€ƒā€ƒ11.4.4 Credit/Debit card
ā€ƒ11.5 Historic and Forecasted Market Size By Application Outlook
ā€ƒā€ƒ11.5.1 Parking
ā€ƒā€ƒ11.5.2 Gas/charging stations
ā€ƒā€ƒ11.5.3 Shopping
ā€ƒā€ƒ11.5.4 Food/Coffee
ā€ƒā€ƒ11.5.5 Toll Collection
ā€ƒā€ƒ11.5.6 Other
ā€ƒ11.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ11.6.1 China
ā€ƒā€ƒ11.6.2 India
ā€ƒā€ƒ11.6.3 Japan
ā€ƒā€ƒ11.6.4 Singapore
ā€ƒā€ƒ11.6.5 Australia
ā€ƒā€ƒ11.6.6 New Zealand
ā€ƒā€ƒ11.6.7 Rest of APAC

Chapter 12: Middle East & Africa In-Vehicle Payment System Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ12.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ12.2 Impact of Covid-19
ā€ƒ12.3 Key Players
ā€ƒ12.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ12.4 Historic and Forecasted Market Size By Mode of Payment
ā€ƒā€ƒ12.4.1 NFC
ā€ƒā€ƒ12.4.2 QR Code/RFID
ā€ƒā€ƒ12.4.3 App/e-wallet
ā€ƒā€ƒ12.4.4 Credit/Debit card
ā€ƒ12.5 Historic and Forecasted Market Size By Application Outlook
ā€ƒā€ƒ12.5.1 Parking
ā€ƒā€ƒ12.5.2 Gas/charging stations
ā€ƒā€ƒ12.5.3 Shopping
ā€ƒā€ƒ12.5.4 Food/Coffee
ā€ƒā€ƒ12.5.5 Toll Collection
ā€ƒā€ƒ12.5.6 Other
ā€ƒ12.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ12.6.1 Turkey
ā€ƒā€ƒ12.6.2 Saudi Arabia
ā€ƒā€ƒ12.6.3 Iran
ā€ƒā€ƒ12.6.4 UAE
ā€ƒā€ƒ12.6.5 Africa
ā€ƒā€ƒ12.6.6 Rest of MEA

Chapter 13: South America In-Vehicle Payment System Market Analysis, Insights and Forecast, 2016-2028
ā€ƒ13.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ13.2 Impact of Covid-19
ā€ƒ13.3 Key Players
ā€ƒ13.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ13.4 Historic and Forecasted Market Size By Mode of Payment
ā€ƒā€ƒ13.4.1 NFC
ā€ƒā€ƒ13.4.2 QR Code/RFID
ā€ƒā€ƒ13.4.3 App/e-wallet
ā€ƒā€ƒ13.4.4 Credit/Debit card
ā€ƒ13.5 Historic and Forecasted Market Size By Application Outlook
ā€ƒā€ƒ13.5.1 Parking
ā€ƒā€ƒ13.5.2 Gas/charging stations
ā€ƒā€ƒ13.5.3 Shopping
ā€ƒā€ƒ13.5.4 Food/Coffee
ā€ƒā€ƒ13.5.5 Toll Collection
ā€ƒā€ƒ13.5.6 Other
ā€ƒ13.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ13.6.1 Brazil
ā€ƒā€ƒ13.6.2 Argentina
ā€ƒā€ƒ13.6.3 Rest of SA

Chapter 14 Investment Analysis

Chapter 15 Analyst Viewpoint and Conclusion

Global In-Vehicle Payment System Market

Base Year:

2021

Forecast Period:

2022-2028

Historical Data:

2016 to 2020

Market Size in 2021:

USD 3.48 Bn.

Forecast Period 2022-28 CAGR:

19.8%

Market Size in 2028:

USD 12.32 Bn.

Segments Covered:

By Mode of Payment

  • NFC
  • QR Code/RFID
  • App/e-wallet
  • Credit/Debit card

By Application Outlook

  • Parking
  • Gas/charging stations
  • Shopping
  • Food/Coffee
  • Toll Collection
  • Other

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Advances in Technology Such as The Internet of Things and Linked Vehicle Technologies

Key Market Restraints:

  • Risk of Fraudulent Transactions

Key Opportunities:

  • Developing Built-In Technology Such as Voice-Based Controls

Companies Covered in the report:

  • BMW AG, CarPay Diem Cerence Inc., Daimler AG, General Motors Company, Gentex Corporation, and Other major players.

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. IN-VEHICLE PAYMENT SYSTEM MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. IN-VEHICLE PAYMENT SYSTEM MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. IN-VEHICLE PAYMENT SYSTEM MARKET COMPETITIVE RIVALRY
TABLE 005. IN-VEHICLE PAYMENT SYSTEM MARKET THREAT OF NEW ENTRANTS
TABLE 006. IN-VEHICLE PAYMENT SYSTEM MARKET THREAT OF SUBSTITUTES
TABLE 007. IN-VEHICLE PAYMENT SYSTEM MARKET BY MODE OF PAYMENT
TABLE 008. NFC MARKET OVERVIEW (2016-2028)
TABLE 009. QR CODE/RFID MARKET OVERVIEW (2016-2028)
TABLE 010. APP/E-WALLET MARKET OVERVIEW (2016-2028)
TABLE 011. CREDIT/DEBIT CARD MARKET OVERVIEW (2016-2028)
TABLE 012. IN-VEHICLE PAYMENT SYSTEM MARKET BY APPLICATION OUTLOOK
TABLE 013. PARKING MARKET OVERVIEW (2016-2028)
TABLE 014. GAS/CHARGING STATIONS MARKET OVERVIEW (2016-2028)
TABLE 015. SHOPPING MARKET OVERVIEW (2016-2028)
TABLE 016. FOOD/COFFEE MARKET OVERVIEW (2016-2028)
TABLE 017. TOLL COLLECTION MARKET OVERVIEW (2016-2028)
TABLE 018. OTHER MARKET OVERVIEW (2016-2028)
TABLE 019. NORTH AMERICA IN-VEHICLE PAYMENT SYSTEM MARKET, BY MODE OF PAYMENT (2016-2028)
TABLE 020. NORTH AMERICA IN-VEHICLE PAYMENT SYSTEM MARKET, BY APPLICATION OUTLOOK (2016-2028)
TABLE 021. N IN-VEHICLE PAYMENT SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 022. EUROPE IN-VEHICLE PAYMENT SYSTEM MARKET, BY MODE OF PAYMENT (2016-2028)
TABLE 023. EUROPE IN-VEHICLE PAYMENT SYSTEM MARKET, BY APPLICATION OUTLOOK (2016-2028)
TABLE 024. IN-VEHICLE PAYMENT SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 025. ASIA PACIFIC IN-VEHICLE PAYMENT SYSTEM MARKET, BY MODE OF PAYMENT (2016-2028)
TABLE 026. ASIA PACIFIC IN-VEHICLE PAYMENT SYSTEM MARKET, BY APPLICATION OUTLOOK (2016-2028)
TABLE 027. IN-VEHICLE PAYMENT SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 028. MIDDLE EAST & AFRICA IN-VEHICLE PAYMENT SYSTEM MARKET, BY MODE OF PAYMENT (2016-2028)
TABLE 029. MIDDLE EAST & AFRICA IN-VEHICLE PAYMENT SYSTEM MARKET, BY APPLICATION OUTLOOK (2016-2028)
TABLE 030. IN-VEHICLE PAYMENT SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 031. SOUTH AMERICA IN-VEHICLE PAYMENT SYSTEM MARKET, BY MODE OF PAYMENT (2016-2028)
TABLE 032. SOUTH AMERICA IN-VEHICLE PAYMENT SYSTEM MARKET, BY APPLICATION OUTLOOK (2016-2028)
TABLE 033. IN-VEHICLE PAYMENT SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 034. BMW AG: SNAPSHOT
TABLE 035. BMW AG: BUSINESS PERFORMANCE
TABLE 036. BMW AG: PRODUCT PORTFOLIO
TABLE 037. BMW AG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 037. CARPAY DIEM CERENCE INC.: SNAPSHOT
TABLE 038. CARPAY DIEM CERENCE INC.: BUSINESS PERFORMANCE
TABLE 039. CARPAY DIEM CERENCE INC.: PRODUCT PORTFOLIO
TABLE 040. CARPAY DIEM CERENCE INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 040. DAIMLER AG: SNAPSHOT
TABLE 041. DAIMLER AG: BUSINESS PERFORMANCE
TABLE 042. DAIMLER AG: PRODUCT PORTFOLIO
TABLE 043. DAIMLER AG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 043. GENERAL MOTORS COMPANY: SNAPSHOT
TABLE 044. GENERAL MOTORS COMPANY: BUSINESS PERFORMANCE
TABLE 045. GENERAL MOTORS COMPANY: PRODUCT PORTFOLIO
TABLE 046. GENERAL MOTORS COMPANY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 046. GENTEX CORPORATION: SNAPSHOT
TABLE 047. GENTEX CORPORATION: BUSINESS PERFORMANCE
TABLE 048. GENTEX CORPORATION: PRODUCT PORTFOLIO
TABLE 049. GENTEX CORPORATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 049. HARMAN INTERNATIONAL INDUSTRIES INC.: SNAPSHOT
TABLE 050. HARMAN INTERNATIONAL INDUSTRIES INC.: BUSINESS PERFORMANCE
TABLE 051. HARMAN INTERNATIONAL INDUSTRIES INC.: PRODUCT PORTFOLIO
TABLE 052. HARMAN INTERNATIONAL INDUSTRIES INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 052. HONDA MOTOR COMPANY LTD.: SNAPSHOT
TABLE 053. HONDA MOTOR COMPANY LTD.: BUSINESS PERFORMANCE
TABLE 054. HONDA MOTOR COMPANY LTD.: PRODUCT PORTFOLIO
TABLE 055. HONDA MOTOR COMPANY LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 055. HYUNDAI MOTOR COMPANY: SNAPSHOT
TABLE 056. HYUNDAI MOTOR COMPANY: BUSINESS PERFORMANCE
TABLE 057. HYUNDAI MOTOR COMPANY: PRODUCT PORTFOLIO
TABLE 058. HYUNDAI MOTOR COMPANY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 058. JAGUAR LAND ROVER AUTOMOTIVE PLC: SNAPSHOT
TABLE 059. JAGUAR LAND ROVER AUTOMOTIVE PLC: BUSINESS PERFORMANCE
TABLE 060. JAGUAR LAND ROVER AUTOMOTIVE PLC: PRODUCT PORTFOLIO
TABLE 061. JAGUAR LAND ROVER AUTOMOTIVE PLC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 061. MASTERCARD INC.: SNAPSHOT
TABLE 062. MASTERCARD INC.: BUSINESS PERFORMANCE
TABLE 063. MASTERCARD INC.: PRODUCT PORTFOLIO
TABLE 064. MASTERCARD INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 064. TELENAV INC.: SNAPSHOT
TABLE 065. TELENAV INC.: BUSINESS PERFORMANCE
TABLE 066. TELENAV INC.: PRODUCT PORTFOLIO
TABLE 067. TELENAV INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 067. THINXNET GMBH: SNAPSHOT
TABLE 068. THINXNET GMBH: BUSINESS PERFORMANCE
TABLE 069. THINXNET GMBH: PRODUCT PORTFOLIO
TABLE 070. THINXNET GMBH: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 070. VISA INC.: SNAPSHOT
TABLE 071. VISA INC.: BUSINESS PERFORMANCE
TABLE 072. VISA INC.: PRODUCT PORTFOLIO
TABLE 073. VISA INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 073. XEVO INC.: SNAPSHOT
TABLE 074. XEVO INC.: BUSINESS PERFORMANCE
TABLE 075. XEVO INC.: PRODUCT PORTFOLIO
TABLE 076. XEVO INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 076. ZF FRIEDRICHSHAFEN AG: SNAPSHOT
TABLE 077. ZF FRIEDRICHSHAFEN AG: BUSINESS PERFORMANCE
TABLE 078. ZF FRIEDRICHSHAFEN AG: PRODUCT PORTFOLIO
TABLE 079. ZF FRIEDRICHSHAFEN AG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 079. OTHER MAJOR PLAYERS: SNAPSHOT
TABLE 080. OTHER MAJOR PLAYERS: BUSINESS PERFORMANCE
TABLE 081. OTHER MAJOR PLAYERS: PRODUCT PORTFOLIO
TABLE 082. OTHER MAJOR PLAYERS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. IN-VEHICLE PAYMENT SYSTEM MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. IN-VEHICLE PAYMENT SYSTEM MARKET OVERVIEW BY MODE OF PAYMENT
FIGURE 012. NFC MARKET OVERVIEW (2016-2028)
FIGURE 013. QR CODE/RFID MARKET OVERVIEW (2016-2028)
FIGURE 014. APP/E-WALLET MARKET OVERVIEW (2016-2028)
FIGURE 015. CREDIT/DEBIT CARD MARKET OVERVIEW (2016-2028)
FIGURE 016. IN-VEHICLE PAYMENT SYSTEM MARKET OVERVIEW BY APPLICATION OUTLOOK
FIGURE 017. PARKING MARKET OVERVIEW (2016-2028)
FIGURE 018. GAS/CHARGING STATIONS MARKET OVERVIEW (2016-2028)
FIGURE 019. SHOPPING MARKET OVERVIEW (2016-2028)
FIGURE 020. FOOD/COFFEE MARKET OVERVIEW (2016-2028)
FIGURE 021. TOLL COLLECTION MARKET OVERVIEW (2016-2028)
FIGURE 022. OTHER MARKET OVERVIEW (2016-2028)
FIGURE 023. NORTH AMERICA IN-VEHICLE PAYMENT SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 024. EUROPE IN-VEHICLE PAYMENT SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 025. ASIA PACIFIC IN-VEHICLE PAYMENT SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 026. MIDDLE EAST & AFRICA IN-VEHICLE PAYMENT SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 027. SOUTH AMERICA IN-VEHICLE PAYMENT SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)

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Frequently Asked Questions :

What would be the forecast period in the In-Vehicle Payment System Market research report?

The forecast period in the In-Vehicle Payment System Market research report is 2022-2028.

Who are the key players in In-Vehicle Payment System Market?

BMW AG, CarPay Diem Cerence Inc., Daimler AG, General Motors Company, Gentex Corporation, Harman International Industries Inc., Honda Motor Company Ltd., Hyundai Motor Company, Jaguar Land Rover Automotive PLC, Mastercard Inc., Telenav Inc., ThinxNet GmbH, Visa Inc., Xevo Inc., ZF Friedrichshafen AG., and other major players.

What are the segments of the In-Vehicle Payment System Market?

The In-Vehicle Payment System Market is segmented into Mode of Payment, Application Outlook, and region. By Mode of Payment, the market is categorized into NFC, QR Code/RFID, App/e-wallet, Credit/Debit card. By Application Outlook, the market is categorized into Parking, Gas/charging stations, Shopping, Food/Coffee, Toll Collection, Other. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the In-Vehicle Payment System Market?

In-car payment services allow drivers to order and pay for items such as food, coffee, gasoline, groceries, parking spaces, and tolls without having to exit their vehicle. The market is predicted to increase due to advancements in Internet of Things (IoT) technology and strong efforts by various automakers to integrate new, advanced infotainment systems into their vehicle models over the forecast period.

How big is the In-Vehicle Payment System Market?

The In-Vehicle Payment System Market was valued at USD 3.48 Billion in 2021 and is projected to reach USD 12.32 Billion by 2028, growing at a CAGR of 19.8% from 2022 to 2028.