‘In-vehicle commerce’ is set to become an $86 billion industry over the next five years according to new research.
Juniper Research’s latest study suggests that new technologies including in-vehicle payments and voice commerce will drive a huge boost in shopping from drivers behind the wheel of their cars.
In-vehicle payments, made via embedded vehicle systems, are predicted to jump from just $543 million in 2020 to $86 billion by 2025.
Increased integration of voice assistants inside cars, as opposed to a driver’s smartphone being connected to a car’s stereo, will be a significant factor to this growth.
While a predicted 77 per cent of this figure will be made up of fuel and electric vehicle payments, Juniper also says it will drive a sharp rise in other payments.
Transactions made in-vehicle for ecommerce, food and drinks purchases are also expected to rise from $12 million in 2020 to $11 billion in 2025.