The Latin America, Middle East and Africa Automotive Fintech Market would witness market growth of 11.0% CAGR during the forecast period (2022-2028).
Due to customers' ability to find and buy their favorite vehicles from anywhere, car dealers have become somewhat commoditized due to the rise of internet shopping. Fintechs have concentrated on streamlining the procedure by developing platforms and pricing comparison tools that provide borrowers access to all available financing choices. Given the current supply chain challenges, some systems even enable borrowers to see real-time dealer inventory and change the financing conditions to fit their price sensitivity (allowing for adding insurance or supporting products).
Customers using a dealership may use the platform to apply to several lenders and customize their requests to meet their requirements. Conversely, lenders who may have yet to establish independent connections with dealers may have the opportunity to access dealerships (and, therefore, clients) that they would not have otherwise been able to do so on their own without the platform. Thus the purchase rate is also the sale rate. Moreover, firms are creating software enabling dealerships to sell straight from the factory, allowing customers to "direct-build" a car to their specifications.
The National Industrial Development Center (NIDC) intends to attract three to four original equipment manufacturers along the ICE and EV value chain to reach the Kingdom's 2030 goal of producing 300,000 automobiles annually with 40% local content. NIDC fosters industrialization by providing loans, tax advantages, and tariff exemptions. The need for vehicle body panels, wheel components, tires, seats, fuel pumps, seat belts, rear indicator light covers, headlights, bumpers, and engine covers gives corporations seeking joint venture agreements in the Kingdom opportunities for entry or expansion. As a result, the significant assistance offered to the automotive sector by the government, particularly EVs, and the high rate of digitalization is anticipated to enhance the need for automotive fintech for buying, rental and other services and propel the market expansion in the LAMEA.
The Brazil market dominated the LAMEA Automotive Fintech Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,434.6 million by 2028. The Argentina market is estimated to grow a CAGR of 11.6% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 10.7% during (2022 - 2028).
Based on Channel, the market is segmented into On Demand, and Subscription. Based on Vehicle Type, the market is segmented into Passenger Car, and Commercial Vehicle. Based on Propulsion Type, the market is segmented into ICE, and Electric. Based on End User, the market is segmented into Digital Loans & Purchase, Online Leasing, Online Insurance, and In-Vehicle Payments. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Automotive Fintech Market is Projected to reach USD 82.6 Billion by 2028, at a CAGR of 9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kuwy Technology Services Pvt Ltd. (Volkswagen Financial Services AG) (Volkswagen AG), Creditas Soluções Financeiras Ltda., Euroclear SA/NV (Euroclear Holding SA/NV), Grab Holdings Inc, Blinker Inc., The Savings Group, Inc. (Autopay), Cuvva Limited, RouteOne LLC, By Miles, and AutoFi, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Channel
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Propulsion Type
By End User
- Digital Loans & Purchase
- Online Leasing
- Online Insurance
- In-Vehicle Payments
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Kuwy Technology Services Pvt Ltd. (Volkswagen Financial Services AG) (Volkswagen AG)
- Creditas Soluções Financeiras Ltda.
- Euroclear SA/NV (Euroclear Holding SA/NV)
- Grab Holdings Inc
- Blinker Inc.
- The Savings Group, Inc. (Autopay)
- Cuvva Limited
- RouteOne LLC
- By Miles
- AutoFi, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Automotive Fintech Market, by Channel
1.4.2 LAMEA Automotive Fintech Market, by Vehicle Type
1.4.3 LAMEA Automotive Fintech Market, by Propulsion Type
1.4.4 LAMEA Automotive Fintech Market, by End User
1.4.5 LAMEA Automotive Fintech Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Automotive Fintech Market
Chapter 4. LAMEA Automotive Fintech Market by Channel
4.1 LAMEA On Demand Market by Country
4.2 LAMEA Subscription Market by Country
Chapter 5. LAMEA Automotive Fintech Market by Vehicle Type
5.1 LAMEA Passenger Car Market by Country
5.2 LAMEA Commercial Vehicle Market by Country
Chapter 6. LAMEA Automotive Fintech Market by Propulsion Type
6.1 LAMEA ICE Market by Country
6.2 LAMEA Electric Market by Country
Chapter 7. LAMEA Automotive Fintech Market by End Use
7.1 LAMEA Digital Loans & Purchase Market by Country
7.2 LAMEA Online Leasing Market by Country
7.3 LAMEA Online Insurance Market by Country
7.4 LAMEA In-Vehicle Payments Market by Country
Chapter 8. LAMEA Automotive Fintech Market by Country
8.1 Brazil Automotive Fintech Market
8.1.1 Brazil Automotive Fintech Market by Channel
8.1.2 Brazil Automotive Fintech Market by Vehicle Type
8.1.3 Brazil Automotive Fintech Market by Propulsion Type
8.1.4 Brazil Automotive Fintech Market by End Use
8.2 Argentina Automotive Fintech Market
8.2.1 Argentina Automotive Fintech Market by Channel
8.2.2 Argentina Automotive Fintech Market by Vehicle Type
8.2.3 Argentina Automotive Fintech Market by Propulsion Type
8.2.4 Argentina Automotive Fintech Market by End Use
8.3 UAE Automotive Fintech Market
8.3.1 UAE Automotive Fintech Market by Channel
8.3.2 UAE Automotive Fintech Market by Vehicle Type
8.3.3 UAE Automotive Fintech Market by Propulsion Type
8.3.4 UAE Automotive Fintech Market by End Use
8.4 Saudi Arabia Automotive Fintech Market
8.4.1 Saudi Arabia Automotive Fintech Market by Channel
8.4.2 Saudi Arabia Automotive Fintech Market by Vehicle Type
8.4.3 Saudi Arabia Automotive Fintech Market by Propulsion Type
8.4.4 Saudi Arabia Automotive Fintech Market by End Use
8.5 South Africa Automotive Fintech Market
8.5.1 South Africa Automotive Fintech Market by Channel
8.5.2 South Africa Automotive Fintech Market by Vehicle Type
8.5.3 South Africa Automotive Fintech Market by Propulsion Type
8.5.4 South Africa Automotive Fintech Market by End Use
8.6 Nigeria Automotive Fintech Market
8.6.1 Nigeria Automotive Fintech Market by Channel
8.6.2 Nigeria Automotive Fintech Market by Vehicle Type
8.6.3 Nigeria Automotive Fintech Market by Propulsion Type
8.6.4 Nigeria Automotive Fintech Market by End Use
8.7 Rest of LAMEA Automotive Fintech Market
8.7.1 Rest of LAMEA Automotive Fintech Market by Channel
8.7.2 Rest of LAMEA Automotive Fintech Market by Vehicle Type
8.7.3 Rest of LAMEA Automotive Fintech Market by Propulsion Type
8.7.4 Rest of LAMEA Automotive Fintech Market by End Use
Chapter 9. Company Profiles
9.1 Kuwy Technology Services Pvt Ltd. (Volkswagen Financial Services AG) (Volkswagen AG)
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental Analysis
9.1.4 Recent strategies and developments:
9.1.4.1 Partnerships, Collaborations, and Agreements:
9.2 Creditas Soluções Financeiras Ltda.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Recent strategies and developments:
9.2.3.1 Partnerships, Collaborations, and Agreements:
9.2.3.2 Acquisition and Mergers:
9.3 Euroclear SA/NV (Euroclear Holding SA/NV)
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental Analysis
9.3.4 Recent strategies and developments:
9.3.4.1 Acquisition and Mergers:
9.4 Grab Holdings Inc
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.5 Blinker Inc.
9.5.1 Company Overview
9.5.2 Recent strategies and developments:
9.5.2.1 Partnerships, Collaborations, and Agreements:
9.6 The Savings Group, Inc. (Autopay)
9.6.1 Company Overview
9.7 Cuvva Limited
9.7.1 Company Overview
9.8 RouteOne LLC
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.9 By Miles
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Partnerships, Collaborations, and Agreements:
9.9.2.2 Product Launches and Product Expansions:
9.10. AutoFi, Inc.
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Partnerships, Collaborations, and Agreements:
9.10.2.2 Business Expansions:
TABLE 1 LAMEA Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 3 LAMEA Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 4 LAMEA Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 5 LAMEA On Demand Market by Country, 2018 - 2021, USD Million
TABLE 6 LAMEA On Demand Market by Country, 2022 - 2028, USD Million
TABLE 7 LAMEA Subscription Market by Country, 2018 - 2021, USD Million
TABLE 8 LAMEA Subscription Market by Country, 2022 - 2028, USD Million
TABLE 9 LAMEA Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 10 LAMEA Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 11 LAMEA Passenger Car Market by Country, 2018 - 2021, USD Million
TABLE 12 LAMEA Passenger Car Market by Country, 2022 - 2028, USD Million
TABLE 13 LAMEA Commercial Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 14 LAMEA Commercial Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 15 LAMEA Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 16 LAMEA Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 17 LAMEA ICE Market by Country, 2018 - 2021, USD Million
TABLE 18 LAMEA ICE Market by Country, 2022 - 2028, USD Million
TABLE 19 LAMEA Electric Market by Country, 2018 - 2021, USD Million
TABLE 20 LAMEA Electric Market by Country, 2022 - 2028, USD Million
TABLE 21 LAMEA Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 22 LAMEA Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 23 LAMEA Digital Loans & Purchase Market by Country, 2018 - 2021, USD Million
TABLE 24 LAMEA Digital Loans & Purchase Market by Country, 2022 - 2028, USD Million
TABLE 25 LAMEA Online Leasing Market by Country, 2018 - 2021, USD Million
TABLE 26 LAMEA Online Leasing Market by Country, 2022 - 2028, USD Million
TABLE 27 LAMEA Online Insurance Market by Country, 2018 - 2021, USD Million
TABLE 28 LAMEA Online Insurance Market by Country, 2022 - 2028, USD Million
TABLE 29 LAMEA In-Vehicle Payments Market by Country, 2018 - 2021, USD Million
TABLE 30 LAMEA In-Vehicle Payments Market by Country, 2022 - 2028, USD Million
TABLE 31 LAMEA Automotive Fintech Market by Country, 2018 - 2021, USD Million
TABLE 32 LAMEA Automotive Fintech Market by Country, 2022 - 2028, USD Million
TABLE 33 Brazil Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 34 Brazil Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 35 Brazil Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 36 Brazil Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 37 Brazil Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 38 Brazil Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 39 Brazil Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 40 Brazil Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 41 Brazil Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 42 Brazil Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 43 Argentina Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 44 Argentina Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 45 Argentina Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 46 Argentina Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 47 Argentina Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 48 Argentina Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 49 Argentina Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 50 Argentina Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 51 Argentina Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 52 Argentina Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 53 UAE Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 54 UAE Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 55 UAE Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 56 UAE Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 57 UAE Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 58 UAE Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 59 UAE Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 60 UAE Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 61 UAE Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 62 UAE Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 63 Saudi Arabia Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 64 Saudi Arabia Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 65 Saudi Arabia Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 66 Saudi Arabia Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 67 Saudi Arabia Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 68 Saudi Arabia Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 69 Saudi Arabia Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 70 Saudi Arabia Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 71 Saudi Arabia Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 72 Saudi Arabia Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 73 South Africa Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 74 South Africa Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 75 South Africa Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 76 South Africa Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 77 South Africa Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 78 South Africa Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 79 South Africa Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 80 South Africa Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 81 South Africa Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 82 South Africa Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 83 Nigeria Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 84 Nigeria Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 85 Nigeria Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 86 Nigeria Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 87 Nigeria Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 88 Nigeria Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 89 Nigeria Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 90 Nigeria Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 91 Nigeria Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 92 Nigeria Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 93 Rest of LAMEA Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 94 Rest of LAMEA Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 95 Rest of LAMEA Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 96 Rest of LAMEA Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 97 Rest of LAMEA Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 98 Rest of LAMEA Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 99 Rest of LAMEA Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 100 Rest of LAMEA Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 101 Rest of LAMEA Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 102 Rest of LAMEA Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 103 Key Information – Kuwy Technology Services Pvt Ltd.
TABLE 104 Key Information – Creditas Soluções Financeiras Ltda.
TABLE 105 Key Information – Euroclear SA/NV
TABLE 106 Key Information – Grab Holdings Inc
TABLE 107 Key Information – Blinker Inc.
TABLE 108 Key Information – The Savings Group, Inc.
TABLE 109 Key Information – Cuvva Limited
TABLE 110 Key Information – RouteOne LLC
TABLE 111 Key Information – By Miles
TABLE 112 Key Information – AutoFi, Inc.
List of Figures
FIG 1 Methodology for the research