In-vehicle Payment Services Market Size to Grow by USD 2.31 billion | 36% of the growth to originate from Europe|Technavio

NEW YORK, June 17, 2022 /PRNewswire/ --The in-vehicle payment services market potential growth difference will be USD 2.31 billion from 2020 to 2025, as per the latest market analysis report by Technavio. The report estimates the market to project a decelerating growth momentum at a CAGR of 89.94% during this period. The high correlation between consumer electronics and connected car solutions is a major driver fueling the in-vehicle payment services market growth. However, low adoption of in-vehicle payment services is a major hindrance to the in-vehicle payment services market growth. 

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• What is the considered parent market?
  Technavio categorizes the global in-vehicle payment services market as a part of the global specialized consumer services market.
• What was the YOY for 2021?
  YOY growth of 176.65%  was estimated in 2021.
• How is the market competitive landscape?
  The in-vehicle payment services market is fragmented and the degree of fragmentation will rise during the forecast period.
• Which trend is influencing the market positively?
  Increasing demand for mobile device-based payment services is a major trend influencing the in-vehicle payment services market growth. 
• What are the key revenue-generating economies?
  US, Germany, UK, China, and France are predicted to emerge as revenue-generating economies.
•  How big is the Europe market? 
  36% of the growth will originate from Europe.

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• The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. In a bid to help players strengthen their market foothold, this in-vehicle payment services market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies. 
• Continuous advances in 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.
• BMW AG, Daimler AG, Ford Motor Co., General Motors Co., Gentex Corp., Honda Motor Co. Ltd., Hyundai Motor Co., JAGUAR LAND ROVER AUTOMOTIVE PLC, Volkswagen AG, and ZF Friedrichshafen AG are some of the major market participants. 

• Type
• RFID: The RFID type segment held the largest in-vehicle payment services market share in 2020. The segment will continue to account for the highest revenue throughout the forecast period. The growth of this segment can be attributed to the increasing use of this technology in new vehicles ensures payment of toll plazas digitally and also avoids the vehicle's waiting time. Several vendors in the market are using RFID technology for in-vehicle payment services. For instance, Daimler AG uses an electronic payment platform, Mercedes pay, that supports in-vehicle payment for parking as well as payment for fuel conveniently via app. Mercedes pay operates using RFID technology. 
• Bluetooth
• Geography
• North America: 36% of the market's growth will originate from Europe during the forecast period. Germany, France, Italy, Spain, and the UK are the key markets for in-vehicle payment services market in Europe. Market growth in this region will be faster than the growth of the market in regions. Rise in penetration of luxury cars and improving economic conditions will propel the in-vehicle payment services market growth in Europe over the forecast period. 
• Europe
• APAC
• South America
• MEA

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Technavio categorizes the global in-vehicle payment services market as a part of the global specialized consumer services market. Our report provides extensive information on the value chain analysis for the in-vehicle payment services market, which vendors can leverage to gain a competitive advantage during the forecast period.  Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The in-vehicle payment services market report covers the following areas:

• In-vehicle Payment Services Market Size
• In-vehicle Payment Services Market Trends
• In-vehicle Payment Services Market Industry Analysis

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist in-vehicle payment services market growth during the next five years
• Estimation of the in-vehicle payment services market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the in-vehicle payment services market across North America, Europe, APAC, South America, and MEA
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of in-vehicle payment services market vendors

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1 Executive Summary

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 01: Parent market
• Exhibit 02: Market characteristics

• 2.2 Value chain analysis
• Exhibit 03: Value chain analysis: Specialized consumer services

3 Market Sizing

• 3.1 Market definition
• Exhibit 05: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 06: Market segments

• 3.3 Market size 2020

• 3.4 Market outlook: Forecast for 2020 - 2025
• Exhibit 07: Global - Market size and forecast 2020 - 2025 ($ million)
• Exhibit 08: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 09: Five forces analysis 2020 & 2025

• 4.2 Bargaining power of buyers
• Exhibit 10: Bargaining power of buyers

• 4.3 Bargaining power of suppliers
• Exhibit 11: Bargaining power of suppliers

• 4.4 Threat of new entrants
• Exhibit 12: Threat of new entrants

• 4.5 Threat of substitutes
• Exhibit 13: Threat of substitutes

• 4.6 Threat of rivalry
• Exhibit 14: Threat of rivalry

• 4.7 Market condition
• Exhibit 15: Market condition - Five forces 2020

5 Market Segmentation by Type

• 5.1 Market segments
• Exhibit 16: Type - Market share 2020-2025 (%)

• 5.2 Comparison by Type
• Exhibit 17: Comparison by Type

• 5.3 RFID - Market size and forecast 2020-2025
• Exhibit 18: RFID - Market size and forecast 2020-2025 ($ million)
• Exhibit 19: RFID - Year-over-year growth 2020-2025 (%)

• 5.4 Bluetooth - Market size and forecast 2020-2025
• Exhibit 20: Bluetooth - Market size and forecast 2020-2025 ($ million)
• Exhibit 21: Bluetooth - Year-over-year growth 2020-2025 (%)

• 5.5 Market opportunity by Type
• Exhibit 22: Market opportunity by Type

6 Customer landscape

• 6.1 Customer landscape
• Exhibit 23: Customer landscape

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 24: Market share by geography 2020-2025 (%)

• 7.2 Geographic comparison
• Exhibit 25: Geographic comparison

• 7.3 Europe - Market size and forecast 2020-2025
• Exhibit 26: Europe - Market size and forecast 2020-2025 ($ million)
• Exhibit 27: Europe - Year-over-year growth 2020-2025 (%)

• 7.4 North America - Market size and forecast 2020-2025
• Exhibit 28: North America - Market size and forecast 2020-2025 ($ million)
• Exhibit 29: North America - Year-over-year growth 2020-2025 (%)

• 7.5 APAC - Market size and forecast 2020-2025
• Exhibit 30: APAC - Market size and forecast 2020-2025 ($ million)
• Exhibit 31: APAC - Year-over-year growth 2020-2025 (%)

• 7.6 South America - Market size and forecast 2020-2025
• Exhibit 32: South America - Market size and forecast 2020-2025 ($ million)
• Exhibit 33: South America - Year-over-year growth 2020-2025 (%)

• 7.7 MEA - Market size and forecast 2020-2025
• Exhibit 34: MEA - Market size and forecast 2020-2025 ($ million)
• Exhibit 35: MEA - Year-over-year growth 2020-2025 (%)

• 7.8 Key leading countries
• Exhibit 36: Key leading countries

• 7.9 Market opportunity by geography
• Exhibit 37: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges
• Exhibit 38: Impact of drivers and challenges

• 8.3 Market trends

9 Vendor Landscape

• 9.1 Vendor landscape

• 9.2 Landscape disruption
• Exhibit 41: Landscape disruption
• Exhibit 42: Industry risks

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 43: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 44: Market positioning of vendors

• 10.3 BMW AG
• Exhibit 45: BMW AG - Overview
• Exhibit 46: BMW AG - Business segments
• Exhibit 47: BMW AG- Key news
• Exhibit 48: BMW AG - Key offerings
• Exhibit 49: BMW AG - Segment focus

• 10.4 Daimler AG
• Exhibit 50: Daimler AG - Overview
• Exhibit 51: Daimler AG - Business segments
• Exhibit 52: Daimler AG- Key news
• Exhibit 53: Daimler AG - Key offerings
• Exhibit 54: Daimler AG - Segment focus

• 10.5 Ford Motor Co.
• Exhibit 55: Ford Motor Co. - Overview
• Exhibit 56: Ford Motor Co. - Business segments
• Exhibit 57: Ford Motor Co.-Key news
• Exhibit 58: Ford Motor Co. - Key offerings
• Exhibit 59: Ford Motor Co. - Segment focus

• 10.6 General Motors Co.
• Exhibit 60: General Motors Co. - Overview
• Exhibit 61: General Motors Co. - Business segments
• Exhibit 62: General Motors Co. -Key news
• Exhibit 63: General Motors Co. - Key offerings
• Exhibit 64: General Motors Co. - Segment focus

• 10.7 Gentex Corp.
• Exhibit 65: Gentex Corp. - Overview
• Exhibit 66: Gentex Corp. - Business segments
• Exhibit 67: Gentex Corp. - Key offerings
• Exhibit 68: Gentex Corp. - Segment focus

• 10.8 Honda Motor Co. Ltd.
• Exhibit 69: Honda Motor Co. Ltd. - Overview
• Exhibit 70: Honda Motor Co. Ltd. - Business segments
• Exhibit 71: Honda Motor Co. Ltd. - Key offerings
• Exhibit 72: Honda Motor Co. Ltd. - Segment focus

• 10.9 Hyundai Motor Co.
• Exhibit 73: Hyundai Motor Co. - Overview
• Exhibit 74: Hyundai Motor Co. - Business segments
• Exhibit 75: Hyundai Motor Co.-Key news
• Exhibit 76: Hyundai Motor Co. - Key offerings
• Exhibit 77: Hyundai Motor Co. - Segment focus

• 10.10 JAGUAR LAND ROVER AUTOMOTIVE PLC
• Exhibit 78: JAGUAR LAND ROVER AUTOMOTIVE PLC - Overview
• Exhibit 79: JAGUAR LAND ROVER AUTOMOTIVE PLC - Business segments
• Exhibit 80: JAGUAR LAND ROVER AUTOMOTIVE PLC - Key offerings
• Exhibit 81: JAGUAR LAND ROVER AUTOMOTIVE PLC - Segment focus

• 10.11 Volkswagen AG
• Exhibit 82: Volkswagen AG - Overview
• Exhibit 83: Volkswagen AG - Business segments
• Exhibit 84: Volkswagen AG - Key offerings
• Exhibit 85: Volkswagen AG - Segment focus

• 10.12 ZF Friedrichshafen AG
• Exhibit 86: ZF Friedrichshafen AG - Overview
• Exhibit 87: ZF Friedrichshafen AG - Business segments
• Exhibit 88: ZF Friedrichshafen AG - Key offerings
• Exhibit 89: ZF Friedrichshafen AG - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Currency conversion rates for US$
• Exhibit 90: Currency conversion rates for US$

• 11.3 Research methodology
• Exhibit 91: Research Methodology
• Exhibit 92: Validation techniques employed for market sizing
• Exhibit 93: Information sources

• 11.4 List of abbreviations
• Exhibit 94: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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