The North America Automotive Fintech Market would witness market growth of 8.3% CAGR during the forecast period (2022-2028).
Fintech is a combination of finance and technology. While this is a broad term with several connotations, it frequently refers to the growth of an industry when new technology use cases are devised and applied to ease more traditional-appearing financial processes.
While the general public often identifies "fintech" with innovative new ideas like algorithmic trading and blockchain, the word refers to a broad range of considerably more applications. They include everyday banking, insurance, and other back-office risk management tasks, without being confined to them. Mobile banking, which is used to assist the delivery of conventional banking services and is taken fully for granted by hundreds of millions globally, is technology (aka fintech).
The rapid development of linked autonomous, shared, and electric automobiles are ushered in a new digital era in the automotive industry. As vehicle-related components become digitalized, big data, IoT, and AI are accelerating the development of relevant automotive fintech solutions.
Mexico manufactures over three million autos annually, and 90% of these automobiles are exported. With fourteen bus, truck, tractor trucks, and engine manufacturers and assemblers, Mexico is one of the leading makers of heavy-duty freight vehicles. In addition, Mexico is the second-largest export industry for American medium and heavy-duty trucks and the fourth-largest exporter of heavy-duty freight vehicles. Canada's automotive industry is centered in the Great Lakes automobile manufacturing cluster, the largest vehicle-producing region in North America. Canada is one of the top 12 manufacturers of light vehicles.
The US market dominated the North America Automotive Fintech Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $21,570.3 million by 2028. The Canada market is poised to grow at a CAGR of 10.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 10.1% 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 U.S., Mexico, Canada, and Rest of North America.
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
- US
- Canada
- Mexico
- Rest of North America
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 North America Automotive Fintech Market, by Channel
1.4.2 North America Automotive Fintech Market, by Vehicle Type
1.4.3 North America Automotive Fintech Market, by Propulsion Type
1.4.4 North America Automotive Fintech Market, by End User
1.4.5 North America 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. North America Automotive Fintech Market by Channel
4.1 North America On Demand Market by Country
4.2 North America Subscription Market by Country
Chapter 5. North America Automotive Fintech Market by Vehicle Type
5.1 North America Passenger Car Market by Country
5.2 North America Commercial Vehicle Market by Country
Chapter 6. North America Automotive Fintech Market by Propulsion Type
6.1 North America ICE Market by Country
6.2 North America Electric Market by Country
Chapter 7. North America Automotive Fintech Market by End Use
7.1 North America Digital Loans & Purchase Market by Country
7.2 North America Online Leasing Market by Country
7.3 North America Online Insurance Market by Country
7.4 North America In-Vehicle Payments Market by Country
Chapter 8. North America Automotive Fintech Market by Country
8.1 US Automotive Fintech Market
8.1.1 US Automotive Fintech Market by Channel
8.1.2 US Automotive Fintech Market by Vehicle Type
8.1.3 US Automotive Fintech Market by Propulsion Type
8.1.4 US Automotive Fintech Market by End Use
8.2 Canada Automotive Fintech Market
8.2.1 Canada Automotive Fintech Market by Channel
8.2.2 Canada Automotive Fintech Market by Vehicle Type
8.2.3 Canada Automotive Fintech Market by Propulsion Type
8.2.4 Canada Automotive Fintech Market by End Use
8.3 Mexico Automotive Fintech Market
8.3.1 Mexico Automotive Fintech Market by Channel
8.3.2 Mexico Automotive Fintech Market by Vehicle Type
8.3.3 Mexico Automotive Fintech Market by Propulsion Type
8.3.4 Mexico Automotive Fintech Market by End Use
8.4 Rest of North America Automotive Fintech Market
8.4.1 Rest of North America Automotive Fintech Market by Channel
8.4.2 Rest of North America Automotive Fintech Market by Vehicle Type
8.4.3 Rest of North America Automotive Fintech Market by Propulsion Type
8.4.4 Rest of North America 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 North America Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 2 North America Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 3 North America Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 4 North America Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 5 North America On Demand Market by Country, 2018 - 2021, USD Million
TABLE 6 North America On Demand Market by Country, 2022 - 2028, USD Million
TABLE 7 North America Subscription Market by Country, 2018 - 2021, USD Million
TABLE 8 North America Subscription Market by Country, 2022 - 2028, USD Million
TABLE 9 North America Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 10 North America Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 11 North America Passenger Car Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Passenger Car Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Commercial Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 14 North America Commercial Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 16 North America Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 17 North America ICE Market by Country, 2018 - 2021, USD Million
TABLE 18 North America ICE Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Electric Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Electric Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 22 North America Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 23 North America Digital Loans & Purchase Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Digital Loans & Purchase Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Online Leasing Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Online Leasing Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Online Insurance Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Online Insurance Market by Country, 2022 - 2028, USD Million
TABLE 29 North America In-Vehicle Payments Market by Country, 2018 - 2021, USD Million
TABLE 30 North America In-Vehicle Payments Market by Country, 2022 - 2028, USD Million
TABLE 31 North America Automotive Fintech Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Automotive Fintech Market by Country, 2022 - 2028, USD Million
TABLE 33 US Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 34 US Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 35 US Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 36 US Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 37 US Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 38 US Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 39 US Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 40 US Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 41 US Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 42 US Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 43 Canada Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 44 Canada Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 45 Canada Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 46 Canada Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 47 Canada Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 48 Canada Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 49 Canada Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 50 Canada Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 51 Canada Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 52 Canada Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 53 Mexico Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 54 Mexico Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 55 Mexico Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 56 Mexico Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 57 Mexico Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 58 Mexico Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 59 Mexico Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 60 Mexico Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 61 Mexico Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 62 Mexico Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 63 Rest of North America Automotive Fintech Market, 2018 - 2021, USD Million
TABLE 64 Rest of North America Automotive Fintech Market, 2022 - 2028, USD Million
TABLE 65 Rest of North America Automotive Fintech Market by Channel, 2018 - 2021, USD Million
TABLE 66 Rest of North America Automotive Fintech Market by Channel, 2022 - 2028, USD Million
TABLE 67 Rest of North America Automotive Fintech Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 68 Rest of North America Automotive Fintech Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 69 Rest of North America Automotive Fintech Market by Propulsion Type, 2018 - 2021, USD Million
TABLE 70 Rest of North America Automotive Fintech Market by Propulsion Type, 2022 - 2028, USD Million
TABLE 71 Rest of North America Automotive Fintech Market by End Use, 2018 - 2021, USD Million
TABLE 72 Rest of North America Automotive Fintech Market by End Use, 2022 - 2028, USD Million
TABLE 73 Key Information – Kuwy Technology Services Pvt Ltd.
TABLE 74 Key Information – Creditas Soluções Financeiras Ltda.
TABLE 75 Key Information – Euroclear SA/NV
TABLE 76 Key Information – Grab Holdings Inc
TABLE 77 Key Information – Blinker Inc.
TABLE 78 Key Information – The Savings Group, Inc.
TABLE 79 Key Information – Cuvva Limited
TABLE 80 Key Information – RouteOne LLC
TABLE 81 Key Information – By Miles
TABLE 82 Key Information – AutoFi, Inc.
List of Figures
FIG 1 Methodology for the research