In-Vehicle Payments Market, By Product (Car and Vans), By Type (NFC based, APP based, QR code based, and Credit Card based), By Application (Parking Management, Drive-through Purchasing, and Toll Collection), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030

Report Code: PMI467521 | Publish Date: May 2023 | No. of Pages: 168

Global In Vehicle Payments Market Overview

Continuous advances in the connected vehicle technologies and IoT has led to the movement of mobile wallets to the dashboards as OEMs are now partnering with the card networks and various retailers to equip their vehicle offerings with in-vehicle payment technology. In-vehicle Payment enables the driver to pay for certain services and products without even having to get down from the car, which include payment for parking services, fuel, various drive-thru restaurants, and many others. In addition, tech giants such as Amazon and Google are bringing their popular voice assistants in vehicles, which further facilitates the driver to buy products while they are behind the wheels. Factors driving the use of contactless payment include, but are not limited to, ease of use, faster, integrated, and seamless experience. For instance, contactless transactions take close to one-tenth of the time taken by the traditional electronic transaction. According to Capgemini, customer confidence in the security of contactless payments is increasing, with improved device security features, such as biometric and cryptography. In addition, customers can now use contactless payments for amounts up to GBP 30, without verification (or higher amounts with customer verification, such as a passcode or fingerprint), with a contactless-enabled payment terminal.  The In-Vehicle Payments Market accounted for US$ 1.90 billion in 2019 and is estimated to be US$ 8.90 billion by 2029 and is anticipated to register a CAGR of 16.9%.

Global In Vehicle Payments Market Dynamics

Contactless payment boosts the market

Contactless payments are weeding out cash, as it is a simpler, more secure, and speedier mode of payment in comparison. In the United Kingdom, payment cards have experienced constant and sustained growth, and debit cards have recently taken over cash as the most popular form of payment. In the purchases, the use of payment cards has grown, and the same has been the case with the card-based contactless methods of payment. For instance, according to UK Finance, the contactless payments accounted for 38% of all in-store card payments in October 2017, which was up from 24% as of October 2016. Mobile contactless user base increased approximately to 450 million at the start of 2019. Also according to the same source, in December 2019, the value of contactless card transactions amounted to 7.4 billion British pounds in the United Kingdom, the highest value displayed during the period under observation.

Chances of fraud through online payment

Chances of fraud increases in online payments which might hamper the market of In-Vehicle payments .

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Global In Vehicle Payments Market Segmentation

 

Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.

The Global In-Vehicle Payments Market is segmented based on product, type, application and region.

On the basis of product, the Global In-Vehicle Payments Market is segmented into cars and vans. Based on type, the target market is segmented into NFC based, APP based, QR code based, and Credit Card based. On the basis of application, the target market is segmented into Parking Management, Drive-through Purchasing, and Toll Collection.

Regional Insights:

On region the Global In-Vehicle Payments Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the region in term of share revenue due to development infrastructure and more advance technologies. For Instance, North America has become the first region to perform more than half of its payment transactions electronically. It brings other areas on this dimension far and away at 450 electronic transactions per capita per year. European countries don’t execute more than 20% of their money transactions while producing 520 per capita non-cash transaction per year. Latin America is becoming fastest growing industry.

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Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2030

Market representation

Revenue in USD Million & CAGR from 2020 – 2030

Market Segmentation

By Product- Cars and Vans

By Type– NFC based, APP based, QR code based, and Credit Card based.

By Application– Parking Management, Drive-through Purchasing, and Toll Collection.

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global In-Vehicle Payments Market report based on product, type, application, and region.

Global In-Vehicle Payments Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global In Vehicle Payments Market Key Players

The key players operating in the Global In-Vehicle Payments Market includes Jaguar Land Rover + Royal Dutch Shell, Honda Motor + Visa + IPS Group + Gilbarco Veeder-Root, GM + MasterCard + IBM, Amazon + Ford Motor, Volkswagen, Daimler, Hyundai + Google, BMW, Alibaba + SAIC.

Global In Vehicle Payments Market Company Profile

  • Daimler
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Jaguar Land Rover + Royal Dutch Shell
  • Honda Motor + Visa + IPS Group + Gilbarco Veeder-Root
  • GM + MasterCard + IBM
  • Amazon + Ford Motor
  • Volkswagen
  • Hyundai + Google
  • BMW
  • Alibaba + SAICVIRCELL S.L.

 “*” marked represents similar segmentation in other categories in the respective section

Global In Vehicle Payments Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for In-Vehicle Payments Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Product
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global In-Vehicle Payments Market, By Product 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Cars
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Vans
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global In-Vehicle Payments Market, By Type 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • NFC Based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • APP Based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • QR Code Based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Credit Card Based
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030

 

  1. Global In-Vehicle Payments Market, By Application, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    •  Parking Management
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Drive-through Purchasing
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Toll Collection
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030

 

  1. Global In-Vehicle Payments Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  2. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  3. Company Profiles
  • Daimler
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Jaguar Land Rover Royal Dutch Shell
  • Honda Motor Visa IPS Group Gilbarco Veeder-Root
  • GM MasterCard IBM
  • Amazon Ford Motor
  • Volkswagen
  • Hyundai Google
  • BMW
  • Alibaba SAICVIRCELL S.L.
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

 

FAQs

The Global In-Vehicle Payments Market is segmented based on product, type, application, and region.

Advancement in technology and awareness among population are the major factor which boost the market.

North America dominates the region in term of share revenue due to development infrastructure and more advance technologies

The key players operating in the Global In-Vehicle Payments Market includes Jaguar Land Rover + Royal Dutch Shell, Honda Motor + Visa + IPS Group + Gilbarco Veeder-Root, GM + MasterCard + IBM, Amazon + Ford Motor, Volkswagen, Daimler, Hyundai + Google, BMW, Alibaba + SAIC.