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In-Vehicle Payment Services Market Share

Report ID: GMI3198
Published Date: Jan 2022
Report Format: PDF

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In-Vehicle Payment Services Market Share

Some of the key in-vehicle payment services market participants include:

BMW AG
CarPay Diem Cerence Inc
Daimler AG
General Motors Company
Gentex Corporation
Harman International Industries, Inc
Honda Motor Company Ltd
Hyundai Motor Company
Jaguar Land Rover Automotive PLC
Mastercard Inc
Telenav Inc
ThinxNet GmbH
Visa Inc
Xevo Inc
ZF Friedrichshafen AG.

Companies are emphasizing on partnership network to upgrade their product portfolio. For instance, in May 2021, Visa signed a partnership agreement with Daimler to integrate biometrics solutions to enable in-vehicle payments. This partnership helped the company to offer innovative solutions to its customers and acquire a competitive position in the market.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of in-vehicle payment services crossed USD 600 million in 2021 and will record a CAGR of more than 50% up to 2028, says this GMI report.

The debit/credit card payment segment accounted for close to 55% of the market share in 2021 and will grow with the rising popularity of contactless payments as well as debit/credit cards.

North America market is expected to reach over USD 2 billion by 2028 driven by higher investments by automotive manufacturers in the auto-technology.

BMW AG, Daimler AG, Jaguar Land Rover Automotive PLC, General Motors Company, Honda Motor Company, Ltd., Harman International Industries, Inc., Telenav Inc., Xevo Inc., and ZF Friedrichshafen AG are some major in-vehicle payment service providers in the region.