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In-Vehicle Payment Services Market Share

Report ID: GMI3198
Published Date: Dec 2024
Report Format: PDF

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In-Vehicle Payment Services Market Share

In-Vehicle Payment Services Company Market Share, 2024

General Motors and Honda Motors collectively held a substantial market share of over 36% in the in-vehicle payment services industry in 2024, both automakers have been at the forefront of integrating advanced payment technologies into their vehicles, enhancing user convenience and driving consumer adoption. Their extensive global presence and large customer bases have facilitated widespread deployment of these services.

Strategic partnerships with technology firms and payment service providers have enabled seamless and secure in-vehicle transactions. Additionally, their commitment to innovation and understanding of consumer preferences have positioned them as leaders in this evolving market.

In-Vehicle Payment Services Market Companies

Major players operating in the in-vehicle payment services industry are:

BMW AG
Daimler AG
Ford Motor Company
General Motors Co.
Google LLC
Honda Motor Co. Ltd.
Hyundai Motor Co.
Jaguar Land Rover Automotive PLC
Volkswagen AG
ZF Friedrichshafen AG

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of in-vehicle payment services reached USD 1.4 billion in 2024 and is set to grow at a 26.7% CAGR from 2025 to 2034, driven by the integration of advanced technologies such as IoT, 5G, and AI in connected vehicles.

The debit/credit card segment accounted for over 56% of the market share in 2024 and is expected to exceed USD 7.2 billion by 2034, due to its widespread acceptance, user familiarity, and convenience.

The U.S. market accounted for 76% of the revenue share in 2024 and is expected to exceed USD 10.2 billion by 2034, attributed to its advanced automotive industry and high adoption of connected vehicle technologies.

The key players in the industry include BMW AG, Daimler AG, Ford Motor Company, General Motors Co., Google LLC, Honda Motor Co. Ltd., Hyundai Motor Co., Jaguar Land Rover Automotive PLC, Volkswagen AG, and ZF Friedrichshafen AG.