Connected Car Payments Market to Reach Over €530 Billion by 2030
Summary
BRUSSELS--(BUSINESS WIRE)--As Tesla announced that it will sell its Autopilot function via an in-car subscription and BMW launches its ConnectedDrive Store, PTOLEMUS Consulting Group forecasts that 600 million vehicles will generate in-car transactions of half a trillion dollars by the end of the decade. However, strong growth will also be generated by content subscriptions, software updates, EV charging, food & beverage and grocery purchases. According to Andrew Jackson, Research Director, PTOLEMUS Consulting Group, “The revenue potential for v-commerce is considerable for both OEMs and vertical market players. Furthermore, the race for revenue from connected vehicle payments is not just for OEMs, with SiriusXM, Shell, Visa, Harman and Xevo, plus many others, entering the market with their own solutions too. It assists all leading mobility stakeholders and players including automotive OEMs, tier-1 and tier-2 suppliers and vertical service providers in defining & deploying their strategies.