The in-vehicle payment services market can be segmented by mode of payment into NFC, QR Code/RFID, App/E-wallet, and Credit/Debit Card. Among these, NFC is expected to witness significant growth in the coming years due to its contactless and convenient payment method. The use of NFC technology for in-vehicle payments is increasing as it provides a secure and fast payment solution for drivers. On the other hand, QR Code/RFID and App/E-wallet are also gaining traction as more and more users prefer digital payment methods for their in-vehicle transactions. Credit/Debit Card payments are still popular but are expected to face some challenges from the rising popularity of digital payment options.
Application:
In-vehicle payment services can also be segmented by application into Parking and Shopping. The parking segment is expected to dominate the market as more and more smart parking solutions are being implemented in urban areas. In-vehicle payment services for parking enable drivers to easily pay for their parking fees without the need for physical cash or cards. This convenience is driving the growth of the market in the parking application segment. On the other hand, in-vehicle payment services for shopping are also gaining popularity as drivers look for convenient ways to make purchases while on the go. With the rise of connected vehicles and smart infotainment systems, in-vehicle payment services for shopping are expected to become more prevalent in the coming years.