In-Vehicle Payment Services Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's In-Vehicle Payment Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 21, 2024 /EINPresswire.com/ -- The in-vehicle payment services market has experienced robust growth in recent years, expanding from the market is expected to grow from $3.87 billion in 2023 to $4.29 billion in 2024, with a compound annual growth rate (CAGR) of 10.8%. This growth during the historic period can be attributed to consumer convenience and the rise of connected vehicles.

What Is The Estimated Market Size Of The Global In-Vehicle Payment Services Market And Its Annual Growth Rate?
The in-vehicle payment services market is projected to continue its strong growth, reaching the market is projected to reach $6.42 billion by 2028, with a compound annual growth rate (CAGR) of 10.6%. This growth during the forecast period can be attributed to ongoing advancements in connectivity, a heightened focus on in-car commerce, improvements in security, regulatory support and standardization, and integration with smart cities.

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Growth Driver Of The In-Vehicle Payment Services Market
The increasing preference for contactless payments is significantly driving the growth of the in-vehicle payment services market. The COVID pandemic led to a substantial shift towards contactless payment methods, which has been further bolstered by advanced and seamless support from payment systems.

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Which Market Players Are Driving the In-Vehicle Payment Services Market Growth?
Key players in the market include Mastercard Inc., The Mercedes-Benz Group AG, Jaguar Land Rover Automotive PLC, Honda Motor Co. Ltd., Hyundai Motor Company, ZF Friedrichshafen AG, Amazon. com Inc., Google LLC, International Business Machines Corporation, Telenav Inc., Xevo Inc., CarPay Diem Cerence Inc., Gentex Corporation, PayPal Holdings Inc., Bayerische Motoren Werke AG, Ford Motor Company, General Motors Company, Volkswagen AG, The International Business Machines Corporation, VISA Inc., Harman International Industries Inc., Audi AG, Panasonic Corporation, CarIQ Technologies Pvt. Ltd., BlackBerry Limited, Circle Internet Financial LLC, Blockstream, Parkwhiz, Rivian Automotive Inc., PayByCar.

What Are the Emerging Trends Shaping the In-Vehicle Payment Services Market
Leading companies in the in-vehicle payment services market are forming strategic collaborations and partnerships to launch advanced in-vehicle payment solutions and enhance their competitive advantage. These collaborations enable in-vehicle payment service providers to deliver a better customer experience by offering more seamless and integrated payment solutions.

How Is The Global In-Vehicle Payment Services Market Segmented?
1) By Mode of Payment: QR Code or RFID, App-Based or e-Wallet, Credit or Debit Card-Based, Other Modes
2) By Form Factor: Embedded System, Tethered System, Integrated System
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Automated Guided Vehicles
4) By Application: Shopping, Gas or Charging Stations, Food and Beverages, Toll Collection, Parking, Other Applications

Geographical Insights: North America Leading The In-Vehicle Payment Services Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

In-Vehicle Payment Services Market Definition
In-vehicle payment services enable car owners to make purchases directly from their dashboards, eliminating the need for a smartphone or other device, as the vehicle facilitates the transactions. These services allow for seamless payments to be made directly from the vehicle.

In-Vehicle Payment Services Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global in-vehicle payment services market report covering trends, opportunities, strategies, and more
The In-Vehicle Payment Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on in-vehicle payment services market size, in-vehicle payment services market drivers and trends and in-vehicle payment services market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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