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Automotive Fintech Market Opportunity Analysis and Industry Forecast, 2019-2026

04-22-2022 06:58 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allie Market Research

Financial technology (fintech) is the technology and innovation that offers improved financial services. The use of smartphones for mobile banking, investing services, and cryptocurrency are the examples of technologies that make financial services more accessible to general public. In the insurance space, digitizing insurance and claim processing could help insurers eliminate fraudulent claims while reducing processing time by 80% and lowering settlement overhead cost by 90%. Fintech partnership enables automotive companies to reduce the technology gap and, in turn, improve customer experience with new customer touch points. The automotive fintech market is expected to be the future of the automotive industry that will help companies increase their revenue margin and keep customers committed to them.

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Major Market Players:
• AutoFi
• AutoGravity
• Blinker
• Auto pay
• Roadster
• Motorefi
• Carvana
• Carsoup
• Car Gurus
• Edmunds

Active partnerships with fintech companies enable OEMs to offer multiple use cases that enrich in-vehicle experience, which ultimately influence customer's purchase decisions. For instance, Ford, one of the largest auto companies in the world, signed a deal with AutoFi, a San Francisco fintech startup. AutoFi allows dealerships to sell cars to customers online by bringing the financing component of the purchase process online. It offers an e-commerce software platform that allows car buyers to purchase and finance a car, entirely online. Its platform connects customers to a network of lenders, providing a fast and mobile-first checkout experience.

The factors that drive the growth of the automotive fintech market include growing production of automobiles, increasing awareness and public bend toward online shopping, demand for customer convenience and improvement in customer service, rising sales of electric vehicles, and technological advancements in the automotive industry. In addition, the factors that restrain the automotive fintech market growth include consumer awareness and acceptance based on the reliability and safety while buying vehicle online and growing fraud related to online shopping. However, emerging economies and growing popularity of electric vehicles provide growth opportunities for the market.

AUTOMOTIVE FINTECH MARKET KEY SEGMENTS
By Product Type
• Two-Wheeler
• Passenger
• Commercial
• Three-wheeler
By Purpose
• Automotive Leasing & Finance
• Automotive Insurance
• Digital Automotive Retailing
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Spain
o Russia
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa

KEY BENEFITS FOR STAKEHOLDERS
• This study comprises analytical depiction of the automotive fintech market with current trends and future estimations to depict the imminent investment pockets.
• The overall potential is determined to understand the profitable trends to gain a stronger foothold in Automotive Fintech industry.
• The automotive fintech market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Buy Now@ https://www.alliedmarketresearch.com/purchase-enquiry/5614

Name: David Correa
Email: Send Email
Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Phone: 1-800-792-5285
Website: https://www.alliedmarketresearch.com/

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

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