In-Vehicle Payment Services Market Generating Revenue of $ 16.57 Billion by 2032, At a Booming 12.0% Growth Rate

𝐈𝐧-𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

In-vehicle payment services were gaining attention as part of the broader trends in the automotive and fintech industries. In-vehicle payment services allow users to make transactions or payments directly from their vehicles, enhancing convenience and efficiency.

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.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.polarismarketresearch.com/industry-analysis/in-vehicle-payment-services-market/request-for-sample

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.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐞𝐝 𝐂𝐚𝐫 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬:

The increasing integration of connected car technologies plays a crucial role in driving in-vehicle payment services. Connected cars enable seamless communication between vehicles and external systems, facilitating secure and convenient payment transactions for services such as fueling, parking, tolls, and more.

𝐑𝐢𝐬𝐞 𝐨𝐟 𝐌𝐨𝐛𝐢𝐥𝐞 𝐖𝐚𝐥𝐥𝐞𝐭𝐬 𝐚𝐧𝐝 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬:

The widespread adoption of mobile wallets, digital payment apps, and contactless payment methods has contributed to the growth of in-vehicle payment services. Users expect a seamless transition between their digital payment experiences outside the vehicle and those within the vehicle, promoting the development and adoption of in-car payment solutions.

𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐂𝐨𝐧𝐯𝐞𝐧𝐢𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐓𝐢𝐦𝐞-𝐒𝐚𝐯𝐢𝐧𝐠 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:

In-vehicle payment services offer a convenient and time-saving solution for various transactions, eliminating the need for users to step out of their vehicles for routine payments. This convenience factor is particularly appealing to consumers, contributing to the demand for in-vehicle payment solutions across various use cases.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/3123/2

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬:

𝐅𝐮𝐞𝐥 𝐚𝐧𝐝 𝐆𝐚𝐬 𝐒𝐭𝐚𝐭𝐢𝐨𝐧𝐬:

In-vehicle payment services can be used for seamless transactions at fuel and gas stations. Drivers can make payments for fuel directly from their vehicles, eliminating the need to go inside the station or use physical payment methods. This enhances the overall refueling experience for consumers.

𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬:

In urban environments, in-vehicle payment services can be applied to parking solutions. Drivers can pay for parking fees without leaving their vehicles, streamlining the parking process and reducing the need for physical tickets or manual payments at parking meters.

𝐓𝐨𝐥𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬:

In-vehicle payment services are well-suited for toll collection on highways and bridges. Drivers can make toll payments without stopping or using traditional toll booths, leading to smoother traffic flow and improved overall transportation efficiency.

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.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐮𝐬 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐚𝐧𝐝 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 @ https://www.polarismarketresearch.com/industry-analysis/in-vehicle-payment-services-market/request-for-discount-pricing

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

𝐓𝐡𝐞 𝐆𝐞𝐨𝐠𝐫𝐚𝐩𝐡𝐢𝐜𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐂𝐨𝐯𝐞𝐫𝐬 𝐅𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐊𝐞𝐲 𝐑𝐞𝐠𝐢𝐨𝐧𝐬:

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and the rest of South America)

The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐌𝐨𝐫𝐞:

𝐌𝐢𝐥𝐥𝐢𝐦𝐞𝐭𝐞𝐫 𝐖𝐚𝐯𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/millimeter-wave-technology-market-insights-unleashing-i0zyf

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐏𝐜𝐛 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/automotive-pcb-market-dynamics-driving-innovation-vehicle-omrrf

𝐑𝐚𝐝𝐚𝐫 𝐒𝐞𝐧𝐬𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/radar-sensor-market-dynamics-navigating-future-sensing-xl8ff

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:
Polaris Market Research
30 Wall Street, 8th Floor,
New York City, NY 10005,
United States
Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.

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