World In-Vehicle Payment Services Market to Post 195.39% CAGR to 2021, States Infiniti Research in Its Report Available at MarketPublishers.com
11 Jan 2018 • by Natalie Aster
LONDON – Ongoing advancements in the connected vehicle technologies and IoT has resulted in the migration of mobile wallets to the panel boards as original equipment manufacturers are currently cooperating with the card networks and different retail distributors to equip their vehicle offerings with in-car payment technology. This technology assists the driver in payment for specific services and products without having to get out of the car, including payment for fuel, parking services, different drive-through restaurants, among others. Additionally, tech behemoths like Amazon and Google are introducing their popular voice assistant apps in cars, hence, making it easier for drivers to purchase products whilst they are in the driving seats.
The world in-vehicle payment services market is forecast to gain traction registering a robust CAGR of 195.39% to 2021. The market is driven mainly by a high degree of correlation between connected car solutions and consumer electronics, among others. The market has also witnessed the increasing demand for m-payment services, surging demand for smartphone integration, and expanding innovation in OS. However, design complexity and technology related challenges could limit the growth of the market.
Honda Motor + Visa + IPS Group + Gilbarco Veeder-Root, Jaguar Land Rover + Royal Dutch Shell, and GM + MasterCard + IBM, amid others, are the leading vendors operating in the market. Other prominent players include Volkswagen, Hyundai + Google, Daimler, and BMW, amid others.
In-demand report “Global In-vehicle Payment Services Market 2017-2021” elaborated by Infiniti Research gives a granular analysis of the current scenario and the growth prospects of the market globally.
The study provides comprehensive market segmentation plus a granular regional breakdown of the market. It assesses the market size and offers market share data, identifies key trends in the market, sheds light on the market dynamics covering major drivers and hindrances of the sector’s growth, pinpoints and canvasses key market challenges, and gives an all-round review of the market trends. The research offers an extensive evaluation of the competitive scenario, and profiles the leading market participants. It also provides granular forecasts of the market up to 2021.
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