- Embedded System
- Mooring System
- Integrated System
In-Vehicle Payment Systems Market size was valued at USD 9,149.1 million in 2022 and is expected to reach USD 19,479.3 million by 2028, at a CAGR of 11.4% from 2023 to 2029. View and complete their purchases and allow passengers to buy cars from dashboards which is quicker, and more efficiently simultaneously boosting the global market. There are few restrains hampering the growth of global in-vehicle payment system market include insurance claim issues and long waiting procedures. Embedded BLE hardware modules that can transmit data at a higher range than NFC protocols used by most mobile payment apps is anticipated to provide opportunity.
In-Vehicle Payment Systems Market Key Developments:
In July 2015, Fiat recalled nearly 1.4 million Chryslers in the U.S. as a technical glitch in its dashboard permitted hackers to disable the vehicle. In September 2016, white hat hackers deployed a malware in Tesla cars.
Fastest Growing Market
It is noticed that the global in-vehicle payment system market has a significant market growth rate on the perspective of technologies integration of payment processors. Smartphones are increasingly being integrated via Bluetooth and near-field communications (NFC) with mobile wallets, on-demand applications, digital assistants, and enhanced connectivity. Several major players in the mobile device industry have been encouraged to build different mobile wallets by the increasing customer demand for easy payments and fast delivery. Mobile wallets would also provide in-vehicle payments because of the growing smartphone integration with the car’s infotainment system.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.