In-Vehicle Payment Services Market Expected to Increase by USD 35.7 Billion Between 2023 and 2032 | AMR

NEW CASTLE, DELAWARE, UNITED STATES, February 29, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global in-vehicle payment services market was $2.89 billion in 2020, and is predicted to reach $15.71 billion by 2030, manifesting a CAGR of 18.7% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.

An increase in the use of contactless payment among the end-users, demand for a hassle-free payment system at places such as parking spaces, and an increase in the production of autonomous vehicles around the world drive the global in-vehicle payment services market. On the other hand, online fraud and cyber-attack hinder the market progress. On the contrary, surge in the integration of digital wallets and online payment solutions in vehicles and the demand for advanced cars create lucrative market opportunities for the market players.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/request-sample/14609

COVID-19 Scenario:

The COVID-19 outbreak has increased the demand for in-vehicle payment services, as preferences for contactless payments are increased. Moreover, several supermarkets and shopping malls across the world enabled vehicle payment services during the pandemic.
However, the implementation of lockdowns and restrictions on international travel hampered the global in-vehicle payment services market.
Rapid digitalization during the pandemic is expected to boost the demand for global in-vehicle payment.
The report segments the global in-vehicle payment services market based on offering, vehicle type, payment mode, application, and region. Based on components, the solution segment accounted for the largest market share in 2020, contributing to nearly three-fourths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the service segment is estimated to witness the fastest CAGR of 21.7% from 2021 to 2030.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/14609

Based on service, the professional services segment contributed to the highest market share in 2020, attributing to nearly three-fourths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the managed services segment is expected to manifest the fastest CAGR of 25.1% from 2021 to2030.

Based on region, North America contributed to the highest share in 2020, holding more than one-third of the total share, and is anticipated to maintain dominance throughout the forecast period. The Asia-Pacific is anticipated to exhibit the fastest CAGR of 22.1% during the forecast period.

Get Detailed COVID-19 Impact Analysis on the In-Vehicle Payment Services Market: https://www.alliedmarketresearch.com/request-for-customization/14609

Key players of the global in-vehicle payment services market analyzed in the research include Daimler AG, Amazon Web Service Inc., Ford Motors Company, Google LLC, Hyundai Motor, General Motors, IBM Corporation, VISA Inc., Mastercard, and Volkswagen AG. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐀𝐕𝐄𝐍𝐔𝐄 – 𝐀 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧-𝐁𝐚𝐬𝐞𝐝 𝐋𝐢𝐛𝐫𝐚𝐫𝐲 (𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐎𝐧-𝐃𝐞𝐦𝐚𝐧𝐝, 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧-𝐁𝐚𝐬𝐞𝐝 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐌𝐨𝐝𝐞𝐥) @ https://shorturl.at/tDEF4

Key Findings of the Study

By component, the solution segment accounted for the largest in-vehicle payment services market share in 2020.
Region wise, North America generated highest revenue in 2020.
Depending on application, fuel/charging stations generated the highest revenue in 2020.

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