Connected Car Payments Market to Reach Over €530 Billion by 2030
7.9.2020 10:00:00 EEST | Business Wire | Press release
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.
PTOLEMUS’ Connected Vehicle Payments Global Study is the first in-depth report to analyse how vehicle commerce (v-commerce) will open up new revenue opportunities for payment providers (such as Mastercard), car manufacturers and merchants (from Exxon to McDonald’s) in verticals such as tolling, fuelling and parking.
This supply-driven market will see OEMs offer their customers payments for greater convenience, a cashless experience and enhanced customer relationships and retention.
PTOLEMUS expects the v-commerce market to be dominated by fuel and parking payments. 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. In-car payments exist already in the aftermarket today, but our research finds that 17 car makers are already developing embedded payment solutions. Furthermore, COVID-19 is triggering a take-off in electronic payments, which OEMs can benefit from.”
PTOLEMUS’ report analyses the strategy of 17 OEMs (including Audi, Daimler, FCA, GM, Hyundai and Tesla), that are developing a connected car payment programme. Honda’s Dream Drive, Mercedes Pay and Volkswagen Pay are a few examples. 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.
Andrew continued: “We fully expect v-commerce will disrupt existing aftermarket value chains for fuel card services, electronic toll collection (ETC), parking services and mobility payments. V-commerce is set to be big business”.
PTOLEMUS Consulting Group is the first strategy consulting & research firm entirely focused on connected & autonomous mobility. 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.
For more information, please contact Andrew Jackson, at cvp@ptolemus.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200907005082/en/
Contact information
Andrew Jackson, Research Director
+44 7930 053 727
ajackson@ptolemus.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
One Biosciences Announces Data Validating New Method for Single-Cell Transcriptomic Tumor Profiling from Clinical Pathology Samples30.7.2026 22:03:00 EEST | Press release
One Biosciences, a techbio company pioneering clinical-grade single-cell tumor profiling, today announced data establishing that single-cell RNA expression profiles can be generated from the standard, formalin-fixed paraffin-embedded (FFPE) pathology specimens obtained in routine cancer care using the company’s proprietary platform, OneMap™. The study, conducted with collaborators at Centre Léon Bérard, Hôpital Bichat–Claude Bernard, Institut Curie, and Memorial Sloan Kettering Cancer Center, was released as a preprint on BiorXiv. “Every tumor is a unique ecosystem of many different types of cells, some cancerous, some not. Single cell profiling enables us to understand what those cells are, what they’re doing and potentially how that may impact treatment outcomes,” said Helena Yu, MD, thoracic medical oncologist at Memorial Sloan Kettering Cancer Center. “Until now that type of analysis required different types of samples and workflows than we deploy in clinical care. This study shows
Myers Industries Launches European Production of Scepter Military Packaging30.7.2026 19:04:00 EEST | Press release
Myers Industries, Inc. (NYSE: MYE), a leading manufacturer of Products that Protect™, today announced that its Scepter business has launched production of military ammunition containers in Europe through Scepter International Poland sp z o.o. Production began earlier this year at a privately owned contract manufacturing facility in Poland that was selected by Scepter following a rigorous evaluation process. Initial customer shipments commenced in April 2026. Scepter manufactures a growing portfolio of proprietary ammunition containers using advanced resin compounds. Already fielded by military customers across NATO and allied nations, the ammunition containers are now being produced in Europe to better serve regional demand. Scepter's lightweight, reusable polymer packaging replaces traditional wood and metal containers. The result is improved soldier handling; reduced transportation weight and logistics burden; greater fuel efficiency; lower lifecycle costs; and a durable, corrosion-r
ARIS Recognized as a Leader in First Gartner® Magic Quadrant™ for Digital Twin of an Organization Platforms, Believes This Reinforces Need for Trusted Governance and Control of Enterprise AI30.7.2026 19:00:00 EEST | Press release
ARIS, the process context platform enabling enterprise AI deployment, today announced its recognition as a Leader in the inaugural Gartner Magic Quadrant for Digital Twin of An Organization (DTO) Platforms – where it believes agentic AI, autonomous workflows, and enterprise governance converge. As enterprises move from AI experimentation to autonomous agent deployment, a critical challenge emerges: how do you safely scale autonomous AI when the enterprise lacks a unified digital twin – a single source of truth for processes, data, governance, and outcomes? Gartner describes the DTO as a dynamic software model that relies on operational and contextual data to understand how an organization operationalizes its business model, connects with its current state, responds to changes, deploys resources, simulates future states and delivers customer value. "Enterprises are rightfully ambitious about agentic AI and autonomous workflows," said Guillaume Bacuvier, CEO of ARIS. "But they're discove
Kingswood Capital Management Raises $4 Billion Across Two Oversubscribed Middle-Market Funds30.7.2026 18:00:00 EEST | Press release
Kingswood Capital Management, L.P. (together with its affiliates, “Kingswood”), a Los Angeles-based investment firm focused on the middle-market, today announced the final closing of Kingswood Capital Opportunities Fund IV, L.P. (together with its parallel fund, “Fund IV”), with total capital commitments of $3.1 billion, as well as Kingswood Capital Opportunities Small Cap Fund I, L.P. (together with its parallel fund, “Small Cap Fund I”), with total capital commitments of $900 million. These funds more than double Kingswood’s total assets under management (“AUM”) to over $7 billion. Fund IV represents the fourth institutional fundraise in five years for Kingswood and is more than double the size of Fund III. Both Fund IV and the inaugural Small Cap Fund I were significantly oversubscribed in just five weeks. Fund IV exceeded its initial target of $2.25 billion, while Small Cap Fund I exceeded its initial target of $550 million and both closed at their hard caps. The successful fundrai
CyrusOne Names John Hatem Chief Executive Officer to Accelerate its Global Digital Infrastructure Strategy30.7.2026 16:30:00 EEST | Press release
CyrusOne (the “Company”), a leading global data center owner, developer and operator, today announced the appointment of John Hatem as Chief Executive Officer and a member of the Company’s Board, effective immediately. As part of the Company’s long-term succession planning, Eric Schwartz, who successfully led CyrusOne through a period of significant expansion, is stepping down as CEO and will work together with Hatem to ensure a smooth transition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260730005910/en/ John Hatem Hatem joined CyrusOne in 2011 and has held a series of increasingly senior roles across the business. He most recently served as President, responsible for global sales, global procurement, and design, engineering, and construction in the United States. His deep experience in data center design, development, and operations has helped transform CyrusOne into one of the world’s leading digital infrastructure p
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom