China In-Vehicle Payment Market Research Report, 2023 released by ResearchInChina analyzes and researches the status quo of China's in-vehicle payment market, components of the industry chain, layout of OEMs and payment platforms, consumer survey, and development trends.
①The market demand for in-vehicle payment is rising.
In-vehicle payment refers to the function allowing for payment through in-vehicle communication (e.g., SIM card and WiFi) and IVI system. In-vehicle payment enables car owners to pay for services such as parking, refueling, food ordering and shopping without getting off the car, bringing far more convenient and better experience to users.
According to the survey by ResearchInChina, there are a relatively small number of people using in-car payment at this stage, making up only 17.8% of the total samples. Yet users' willingness to use this function is very high. 72.7% of the consumers who have not used in-car payment yet, or 59.8% of the total samples say they are "willing to try in-car payment".
At present, users use in-car payment in such scenarios as parking, highway pass, refueling/charging, and purchasing IVI traffic and APP membership. Of the users who have used in-car payment:
- Up to 78.9% use in-car payment for parking;
- 42.1% use in-car payment for highway tolls;
- In-vehicle payment is also often used to pay for refueling/charging fees (31.6%), IVI traffic and APP membership (31.6%), feature subscription (21.1%), car maintenance/repair/wash (15.8%), and car insurance (10.5%);
- Fewer users use this function in the scenarios of online food ordering and dining (5.3%) and travel (5.3%).
②The in-vehicle payment industry chain is taking shape.
In terms of supply chain, in-vehicle payment involves two major segments: in-vehicle payment device and in-vehicle payment platform.
In-vehicle payment devices are led by communication devices (SIM card, communication module and T-Box), interaction devices (touch/voice/ face/gesture/fingerprint interaction), and authentication devices (security chip); in-vehicle payment platforms are primarily cloud platform, payment platform, IVI system, ecosystem service platform, ecosystem service provider, and OEM.
As companies in each industry chain segment worked to make layout in recent years, the in-vehicle payment market has kept growing, with the following two major features.
1. In-vehicle payment is available to more scenarios.
Foreign automakers including BMW, Mercedes-Benz, Honda and Hyundai, and Chinese automakers such as Great Wall Motor, Xpeng Motors, Geely, Chery and AITO have launched their in-car payment function. They have widely deployed this function in parking, refueling/charging and food ordering scenarios, and are also applying it on a small scale in car wash/maintenance/repair services, feature subscription, ticket booking and other scenarios.
For example, in October 2022, BMW added the BMW ConnectedDrive Store to its IVI system via OTA updates. It enables in-car payment for subscriptions, and 13 features such as front seat heating, steering wheel heating and Carplay through the IVI system.
2. Multimodal interaction is being added to in-vehicle payment.
At present, the most common in-car payment is scan to pay and password-free payment. As in-car multimodal interaction technology improves, face recognition, fingerprint recognition and voice recognition are becoming the new in-car payment interaction and authentication methods.
For example, Mercedes-Benz has added fingerprint recognition and authentication to its latest in-car payment system PAY+; Chery EXEED TX/TXL supports face verification payment, a function allowing users to pay for parking fees or shopping through face recognition. The addition of multimodal interaction makes in-vehicle payment more secure and convenient.
3. The ecosystem is a key factor affecting in-car payment.
In the mobile payment system, millions of iOS and Android developers have developed various applications and built very rich application ecosystems, meeting living, work and entertainment needs of consumers and making smartphones an indispensable terminal in users' life.
In the in-car payment system, financial institutions like China UnionPay and VISA have developed a series of in-car payment systems; Alipay, Banma Zhixing and Huawei among others have built a variety of vehicle ecosystem platforms and launched a range of in-car services covering parking, refueling, travel, shopping and other scenarios.
Compared with mobile payment, the in-vehicle payment ecosystem is still weak at this stage, only meeting the payment needs in specific scenarios. With the development of intelligent cockpit and high-level autonomous driving, drivers will be freed from driving tasks in specific scenarios and pay more attention to other in-car needs. At this time, creating an in-car living space and building a closed-loop ecosystem with payment as the entrance will become a big demand.
Analysis on Xpeng’s Layout in Electrification, Connectivity, Intelligence and Sharing, 2023
Research on Xpeng’s layout in electrification, connectivity, intelligence and sharing: in the innovation-driven rapid development, secured orders for 100 flying cars.
NIO, Xp...
Automotive Cockpit SoC Research Report, 2024
Automotive Cockpit SoC Research: Automakers quicken their pace of buying SoCs, and the penetration of domestic cockpit SoCs will soar
Mass production of local cockpit SoCs is accelerating, and the l...
Automotive Integrated Die Casting Industry Report, 2024
Integrated Die Casting Research: adopted by nearly 20 OEMs, integrated die casting gains popularity.
Automotive Integrated Die Casting Industry Report, 2024 released by ResearchInChina summari...
China Passenger Car Cockpit Multi/Dual Display Research Report, 2023-2024
In intelligent cockpit era, cockpit displays head in the direction of more screens, larger size, better looking, more convenient interaction and better experience. Simultaneously, the conventional “on...
Automotive Microcontroller Unit (MCU) Industry Report, 2024
With policy support, the localization rate of automotive MCU will surge.
Chinese electric vehicle companies are quickening their pace of purchasing domestic chips to reduce their dependence on impor...
Automotive Digital Key Industry Trends Research Report, 2024
Automotive Digital Key Industry Trends Research Report, 2024 released by ResearchInChina highlights the following: Forecast for automotive digital key market;Digital key standard specifications and co...
Automotive XR (VR/AR/MR) Industry Report, 2024
Automotive XR (Extended Reality) is an innovative technology that integrates VR (Virtual Reality), AR (Augmented Reality) and MR (Mixed Reality) technologies into vehicle systems. It can bring drivers...
OEMs’ Next-generation In-vehicle Infotainment (IVI) System Trends Report, 2024
OEMs’ Next-generation In-vehicle Infotainment (IVI) System Trends Report, 2024 released by ResearchInChina systematically analyzes the iteration process of IVI systems of mainstream automakers in Chin...
Global and China Automotive Lighting System Research Report, 2023-2024
Installations of intelligent headlights and interior lighting systems made steady growth.
From 2019 to 2023, the installations of intelligent headlights and interior lighting systems grew steadily. I...
Automotive Display, Center Console and Cluster Industry Report, 2024
Automotive display has become a hotspot major automakers compete for to create personalized and differentiated vehicle models. To improve users' driving experience and meet their needs for human-compu...
Global and China Passenger Car T-Box Market Report, 2024
Global and China Passenger Car T-Box Market Report, 2024 combs and summarizes the overall global and Chinese passenger car T-Box markets and the status quo of independent, centralized, V2X, and 5G T-B...
AI Foundation Models’ Impacts on Vehicle Intelligent Design and Development Research Report, 2024
AI foundation models are booming. The launch of ChapGPT and SORA is shocking. Scientists and entrepreneurs at AI frontier point out that AI foundation models will rebuild all walks of life, especially...
Analysis on Geely's Layout in Electrification, Connectivity, Intelligence and Sharing
Geely, one of the leading automotive groups in China, makes comprehensive layout in electrification, connectivity, intelligence and sharing.
Geely boasts more than ten brands. In 2023, it sold a tota...
48V Low-voltage Power Distribution Network (PDN) Architecture Industry Report, 2024
Automotive low-voltage PDN architecture evolves from 12V to 48V system.
Since 1950, the automotive industry has introduced the 12V system to power lighting, entertainment, electronic control units an...
Automotive Ultrasonic Radar and OEMs’ Parking Route Research Report, 2024
1. Over 220 million ultrasonic radars will be installed in 2028.
In recent years, the installations of ultrasonic radars in passenger cars in China surged, up to 121.955 million units in 2023, jumpin...
Automotive AI Foundation Model Technology and Application Trends Report, 2023-2024
Since 2023 ever more vehicle models have begun to be connected with foundation models, and an increasing number of Tier1s have launched automotive foundation model solutions. Especially Tesla’s big pr...
Qualcomm 8295 Based Cockpit Domain Controller Dismantling Analysis Report
ResearchInChina dismantled 8295-based cockpit domain controller of an electric sedan launched in December 2023, and produced the report SA8295P Series Based Cockpit Domain Controller Analysis and Dism...
Global and China Automotive Comfort System (Seating system, Air Conditioning System) Research Report, 2024
Automotive comfort systems include seating system, air conditioning system, soundproof system and chassis suspension to improve comfort of drivers and passengers. This report highlights seating system...