In-Vehicle Payment Services Market Share, Size, Trends, Industry Analysis Report, By Mode of Payment (NFC, QR Code/RFID, App/E-wallet, Credit/Debit Card), By Application (Parking, Shopping, Others), By Region, And Segment Forecasts, 2024 - 2032
The global in-vehicle payment services market size is expected to reach USD 16.57 billion by 2032, according to a new study by Polaris Market Research. The report “In-Vehicle Payment Services Market Share, Size, Trends, Industry Analysis Report, By Mode Of Payment (NFC, QR Code/RFID, App/E-wallet, Credit/Debit Card), By Application (Parking, Shopping, Others), By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The substantial investments made by automakers to facilitate in-vehicle payments and transaction authentication, combined with increasing disposable income, particularly in developed economies, and the growing preference for contactless payments, are anticipated to propel market growth in the foreseeable future.
Increasingly hectic schedules are driving drivers to seek convenient experiences. The capability to shop, order, and pay on the go, without the need for cash transactions or credit/debit card swiping, enables commuters to save time and ensures a convenient commute. It provides drivers & passengers the convenience payments through various modes directly from the vehicle. These services are anticipated to rise in tandem with the proliferation of connected cars & growing adoption of the new-age infotainment systems over the forecast period.
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The inclination towards contactless payments is on the rise, particularly in response to the COVID-19 pandemic. Many parking systems, gas stations, & toll collection booths have already integrated payment technology. The increasing popularity of the e-wallets is attributed to the convenience & ease they provide for the payments. Digital wallet and online payment platforms like Google Pay, Amazon Pay, & Apple Pay are gaining widespread popularity, and their adoption is anticipated to surge significantly in the forecast period.
Automotive original equipment manufacturers (OEMs) are actively working on creating a payment ecosystem that enables drivers and passengers to access and pay for various services, including refueling or charging electric cars, reserving and paying for parking spaces, settling toll fees at toll booths, and ordering food and coffee, all without the need to exit the vehicle. Consequently, the market for in-vehicle payment services is anticipated to experience substantial growth throughout the forecast period.
Automakers like BMW AG, Mercedes-Benz, Ford Motor, Honda Motor, General Motors & Jaguar have initiated the integration of the payment services & solutions into their models. Simultaneously, payment service providers such as MasterCard, Visa, & PayPal are actively forming strategic partnerships with the automotive OEMs to deliver the effective in-vehicle payment platforms.
In-Vehicle Payment Services Market Report Highlights
Gas & charging stations segment dominated the market, on account of rising adoption of autonomous vehicles, and growing popularity of contact-less payments
Credit/Debit cards segment held the largest share, as they have largest chunk of payment services, being used for several years
North America dominated the market, owing to presence of high-net-worth individuals seeking autonomous luxurious vehicles
The global players BMW, Daimler, Ford Motor, General Motors, Honda Motor, Google, Amazon, Visa, MasterCard, and PayPal.
Polaris Market Research has segmented the In-Vehicle Payment Services market report based on mode of payment, application, and region:
In-Vehicle Payment Services, Mode of Payment Outlook (Revenue - USD Billion, 2019 - 2032)
NFC
QR Code/RFID
App/E-wallet Based
Credit/Debit Card Based
In-Vehicle Payment Services, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Parking
Gas & Charging Stations
Shopping
Food & Coffee
Toll Collection
Others
In-Vehicle Payment Services, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
North America
- U.S.
- Canada
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Argentina
- Brazil
- Mexico
- UAE
- Saudi Arabia
- Israel
- South Africa
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. Global In-Vehicle Payment Services Market Insights
- 4.1. In-Vehicle Payment Services Market – Industry Snapshot
- 4.2. In-Vehicle Payment Services Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rise of Mobile Payments
- 4.2.1.2. Enhanced Customer Experience
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Consumer Trust and Adoption
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. In-Vehicle Payment Services Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
- 5. Global In-Vehicle Payment Services Market, by Mode of Payment
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global In-Vehicle Payment Services, by Mode of Payment, 2019-2032 (USD Billion)
- 5.3. NFC
- 5.3.1. Global In-Vehicle Payment Services Market, by NFC, by Region, 2019-2032 (USD Billion)
- 5.4. QR Code/RFID
- 5.4.1. Global In-Vehicle Payment Services Market, by QR Code/RFID, by Region, 2019-2032 (USD Billion)
- 5.5. App/E-wallet Based
- 5.5.1. Global In-Vehicle Payment Services Market, by App/E-wallet Based, by Region, 2019-2032 (USD Billion)
- 5.6. Credit/Debit Card Based
- 5.6.1. Global In-Vehicle Payment Services Market, by Credit/Debit Card Based, by Region, 2019-2032 (USD Billion)
- 6. Global In-Vehicle Payment Services Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 6.3. Parking
- 6.3.1. Global In-Vehicle Payment Services Market, by Parking, by Region, 2019-2032 (USD Billion)
- 6.4. Gas & Charging Stations
- 6.4.1. Global In-Vehicle Payment Services Market, by Gas & Charging Stations, by Region, 2019-2032 (USD Billion)
- 6.5. Shopping
- 6.5.1. Global In-Vehicle Payment Services Market, by Shopping, by Region, 2019-2032 (USD Billion)
- 6.6. Food & Coffee
- 6.6.1. Global In-Vehicle Payment Services Market, by Food & Coffee, by Region, 2019-2032 (USD Billion)
- 6.7. Toll Collection
- 6.7.1. Global In-Vehicle Payment Services Market, by Toll Collection, by Region, 2019-2032 (USD Billion)
- 6.8. Others
- 6.8.1. Global In-Vehicle Payment Services Market, by Others, by Region, 2019-2032 (USD Billion)
- 7. Global In-Vehicle Payment Services Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. In-Vehicle Payment Services Market Assessment, By Geography, 2019-2032 (USD Billion)
- 7.3. In-Vehicle Payment Services Market – North America
- 7.3.1. North America: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.3.2. North America: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.3.3. In-Vehicle Payment Services Market – U.S.
- 7.3.3.1. U.S.: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.3.3.2. U.S.: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.3.4. In-Vehicle Payment Services Market – Canada
- 7.3.4.1. Canada: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.3.4.2. Canada: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.4. In-Vehicle Payment Services Market – Europe
- 7.4.1. Europe: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.4.2. Europe: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.4.3. In-Vehicle Payment Services Market – UK
- 7.4.3.1. UK: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.4.3.2. UK: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.4.4. In-Vehicle Payment Services Market – France
- 7.4.4.1. France: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.4.4.2. France: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.4.5. In-Vehicle Payment Services Market – Germany
- 7.4.5.1. Germany: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.4.5.2. Germany: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.4.6. In-Vehicle Payment Services Market – Italy
- 7.4.6.1. Italy: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.4.6.2. Italy: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.4.7. In-Vehicle Payment Services Market – Spain
- 7.4.7.1. Spain: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.4.7.2. Spain: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.4.8. In-Vehicle Payment Services Market – Netherlands
- 7.4.8.1. Netherlands: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.4.8.2. Netherlands: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.4.9. In-Vehicle Payment Services Market – Russia
- 7.4.9.1. Russia: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.4.9.2. Russia: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.5. In-Vehicle Payment Services Market – Asia Pacific
- 7.5.1. Asia Pacific: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.5.3. In-Vehicle Payment Services Market – China
- 7.5.3.1. China: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.5.3.2. China: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.5.4. In-Vehicle Payment Services Market – India
- 7.5.4.1. India: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.5.4.2. India: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.5.5. In-Vehicle Payment Services Market – Malaysia
- 7.5.5.1. Malaysia: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.5.5.2. Malaysia: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.5.6. In-Vehicle Payment Services Market – Japan
- 7.5.6.1. Japan: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.5.6.2. Japan: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.5.7. In-Vehicle Payment Services Market – Indonesia
- 7.5.7.1. Indonesia: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.5.7.2. Indonesia: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.5.8. In-Vehicle Payment Services Market – South Korea
- 7.5.8.1. South Korea: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.5.8.2. South Korea: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.6. In-Vehicle Payment Services Market – Middle East & Africa
- 7.6.1. Middle East & Africa: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.6.3. In-Vehicle Payment Services Market – Saudi Arabia
- 7.6.3.1. Saudi Arabia: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.6.3.2. Saudi Arabia: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.6.4. In-Vehicle Payment Services Market – UAE
- 7.6.4.1. UAE: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.6.4.2. UAE: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.6.5. In-Vehicle Payment Services Market – Israel
- 7.6.5.1. Israel: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.6.5.2. Israel: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.6.6. In-Vehicle Payment Services Market – South Africa
- 7.6.6.1. South Africa: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.6.6.2. South Africa: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.7. In-Vehicle Payment Services Market – Latin America
- 7.7.1. Latin America: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.7.2. Latin America: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.7.3. In-Vehicle Payment Services Market – Mexico
- 7.7.3.1. Mexico: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.7.3.2. Mexico: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.7.4. In-Vehicle Payment Services Market – Brazil
- 7.7.4.1. Brazil: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.7.4.2. Brazil: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 7.7.5. In-Vehicle Payment Services Market – Argentina
- 7.7.5.1. Argentina: In-Vehicle Payment Services Market, by Application, 2019-2032 (USD Billion)
- 7.7.5.2. Argentina: In-Vehicle Payment Services Market, by Mode of Payment, 2019-2032 (USD Billion)
- 8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
- 9. Company Profiles
- 9.1. BMW AG
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Daimler AG
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Ford Motor Co.
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. General Motors Co
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Honda Motor Co. Ltd.
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Hyundai Motor Co.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Jaguar Land Rover Automotive PLC
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Volkswagen AG
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. ZF Friedrichshafen AG
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Google
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Amazon
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. Visa
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. MasterCard
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
- 9.14. PayPal
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development
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