Fintech in the Global Automotive Industry, Forecast to 2025

Fintech in the Global Automotive Industry, Forecast to 2025

Average Fintech Investment Portfolio of Automotive OEMs to Grow 15x to $230 Million by 2025

RELEASE DATE
19-Jun-2017
REGION
North America
Research Code: MC83-01-00-00-00
SKU: AU01498-NA-MR_20285
$4,950.00
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$4,950.00
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Description

This research service provides a comprehensive overview of the fintech landscape in the automotive industry. It covers the application and use cases of fintech-powered innovation in the following 5 segments:

1.     Automotive Leasing & Finance
2.     Automotive Insurance
3.     Digital Automotive Retailing
4.     Digital Payments
5.     Automotive Convenience and Experience-centric Services

Apart from providing a host of profiles of key market innovators, this research highlights the opportunities that can be mined with the application of digital transactions in the automotive industry. The study showcases the potential areas for automakers and suppliers for investment and for technology companies to focus on to maximize their revenue potential in the automotive industry.

As the automotive industry is facing narrowing margins, the need to look to other revenue streams and also keep the customer committed to the brand for their next purchase is paramount. This can be achieved by creating an experience across the lifetime of the customer's ownership. The need for manufacturers to look beyond the initial sale of the vehicle and periodic maintenance revenue, and also focus on creating a personalized in-vehicle experience through allied service partners is critical to the future of the automotive industry. The role of fintech in enabling an industry-wide transition from a transactional to an experience-centric one is important to help the traditional ecosystem embrace digital transformation.

The following questions were the founding blocks of this research:
•     What are fintech companies and what relevance do they have in the automotive industry?
•     How can the business interest of fintech companies be classified and what are their applications?
•     What underlying technology powers the business end of fintech to create these new business models and what is the market size of the value created?
•     What are the key fintech organizations that an automotive company should be aware of?
•     What recent partnership activities in fintech companies have products/solutions tailored to the automotive industry?

Automotive companies are focusing to reduce the technology gap and improve customer experience with new customer touch points through fintech partnerships.

Retail spending online is expected to reach over $3 billion by 2025, with several digital feeder systems, including digital lead generation, eCommerce platforms, and 100% online retailing.

A mature market of over $1 trillion is yet to be disrupted by digital financing options. Banks and OEMs are looking for partnerships and pilots to get the right offering mix.

In the insurance space, digitizing insurance claims processing will help insurers eliminate fraudulent claims while reducing processing time by 80% and lowering settlement overhead cost by 90%.

Technology companies such as Google, Whatsapp, and WeChat are expected to lead digitizing on-demand convenience services as OEMs look to ensure that revenue stays within the core automotive ecosystem.

Table of Contents

Executive Summary—Key Takeaways

Executive Summary—Key Predictions

Executive Summary—Introduction to Fintech

Executive Summary—Key Fintech Drivers of Automotive Industry

Executive Summary—Key Fintech Investments in Automotive Industry

Executive Summary—Auto OEMs Investment Preference in Fintech

Executive Summary—Fintech Enables New Automotive Transactions

Executive Summary—Fintech Penetration in Automotive Applications

Executive Summary—Potential Impact of Fintech on Automotive Industry

Executive Summary—Automotive Fintech Key Deals

Executive Summary—Daimler’s Fintech Investments

Executive Summary—OEM Potential Partnership Targets

Executive Summary—Automotive Industry Fintech Ecosystem

Executive Summary—5 Major Growth Opportunities

Executive Summary—Key Findings and Future Outlook

Research Scope

Research Aims and Objectives

Research Methodology

Market Segmentation

Key Financial Definitions

Definition of Fintech

Manufacturer Interest in Fintech

Emerging Interest of Automotive Industry in Fintech

Car eWallet—A Payment Portal

Supplier’s Consortium for Fintech Monetisation

Daimler’s Fintech Investments

Implications and Recommendations for Market Participants

Automotive Digital Retail—The Fintech Evolution

Automotive Sales and Digital Retailing

Digital Lead Generation to Drive Vehicle Sales

Effective New Cars Online Purchase

Automotive Digital Retail—Implications and Recommendations

Automotive Leasing & Finance—The Fintech Evolution

Automotive Finance Trends

Ford’s Quick and Easy Online Financing

Honcker’s 100% Online Leasing Model

Société Générale’s Bet on Auto Leasing

Leasing & Finance—Automotive Implications and Recommendations

Automotive Insurance—The Fintech Evolution

Usage-based Insurance (UBI) Advancing Fintech in Auto Insurance

Digitising Insurance

ClaimDi’s Efficient Automotive Insurance Processing

Insurance—Implications and Recommendations

Automotive Digital Payments—The Fintech Evolution

Servicification of the Automotive Industry

Sizing the Potential Uptake of New Mobility Services

Aria’s Recurring Revenue Streams

Mobile Wallets Powering Ride Payments

Advertising Revenue for Drivers—Wrapify

Build, Buy, or Partner—Payment Solutions

Digital Payments and Services—Implications and Recommendations

Transformation in Automotive Industry Ecosystem—2017

Growth Opportunity in Automotive Fintech

Automotive Fintech—5 Major Growth Opportunities

Strategic Imperatives for Success and Growth

Key Conclusions and Future Outlook

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Abbreviations and Acronyms Used

List of Figures
  • 1. Top 15 Fintech Investment Focus Areas for OEMs, Global, 2017
List of Charts
  • 1. Key Fintech Takeaways, Global, 2017
  • 2. Fintech in the Automotive Industry: Key Predictions, Global, 2017–2025
  • 3. Fintech in the Automotive Industry: Growth of Venture Capital Funding to Fintech Companies, Global, 2012–2016
  • 4. Fintech in the Automotive Industry: Key Automotive Industry Drivers, Global, 2016
  • 5. Fintech in the Automotive Industry: Investment Information, North America and Europe, 2013–2016
  • 6. Fintech in the Automotive Industry: Average OEM Investment, Global, 2016 and 2025
  • 7. Fintech in the Automotive Industry: Application Growth, Global, 2016 and 2025
  • 8. Fintech in the Automotive Industry: Market Impact of Fintech in Revenue Terms, Global, 2016 and 2025
  • 9. Daimler’s Digital Financing Investments, Global, 2016
  • 10. Fintech in the Automotive Industry: Emerging Interest, Global, 2017
  • 11. Daimler’s Digital Financing Investments, Global, 2016
  • 12. Fintech in the Automotive Industry: Digital Retail, Global, 2017
  • 13. Top 5 Light Vehicle Markets by Sales, Global, 2015 and 2016
  • 14. Digital Retailing Spending, Global, 2016–2025 (Key Years)
  • 15. Fintech in the Automotive Industry: Leasing & Finance, Global, 2017
  • 16. Fintech in the Automotive Industry: Percent New Vehicles Bought on Finance, Global, 2016
  • 17. Fintech in the Automotive Industry: Percent Used Vehicles Bought on Finance, Global, 2016
  • 18. Automotive Finance Trends, Global, 2016
  • 19. Société Générale’s ALD Automotive, Europe, 2017
  • 20. Fintech in the Automotive Industry: Automotive Insurance, Global, 2017
  • 21. Fintech in the Automotive Industry: UBI Revenue, Global, 2016 and 2025
  • 22. ClaimDi, Southeast Asia, 2016
  • 23. Fintech in the Automotive Industry: Automotive Insurance, Global, 2017
  • 24. Fintech in the Automotive Industry: Servicification, Global, 2017
  • 25. Fintech in the Automotive Industry: Mobility Services, Global, 2016–2025
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This research service provides a comprehensive overview of the fintech landscape in the automotive industry. It covers the application and use cases of fintech-powered innovation in the following 5 segments: 1. Automotive Leasing & Finance 2. Automotive Insurance 3. Digital Automotive Retailing 4. Digital Payments 5. Automotive Convenience and Experience-centric Services Apart from providing a host of profiles of key market innovators, this research highlights the opportunities that can be mined with the application of digital transactions in the automotive industry. The study showcases the potential areas for automakers and suppliers for investment and for technology companies to focus on to maximize their revenue potential in the automotive industry. As the automotive industry is facing narrowing margins, the need to look to other revenue streams and also keep the customer committed to the brand for their next purchase is paramount. This can be achieved by creating an experience across the lifetime of the customer's ownership. The need for manufacturers to look beyond the initial sale of the vehicle and periodic maintenance revenue, and also focus on creating a personalized in-vehicle experience through allied service partners is critical to the future of the automotive industry. The role of fintech in enabling an industry-wide transition from a transactional to an experience-centric one is important to help the traditional ecosystem embrace digital transformation. The following questions were the founding blocks of this research: • What are fintech companies and what relevance do they have in the automotive industry? • How can the business interest of fintech companies be classified and what are their applications? • What underlying technology powers the business end of fintech to create these new business models and what is the market size of the value created? • What are the key fintech organizations that an automotive company should be aware of? • What
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Table of Contents | Executive Summary~ || Executive Summary—Key Takeaways~ || Executive Summary—Key Predictions~ || Executive Summary—Introduction to Fintech~ || Executive Summary—Key Fintech Drivers of Automotive Industry~ || Executive Summary—Key Fintech Investments in Automotive Industry~ || Executive Summary—Auto OEMs Investment Preference in Fintech~ || Executive Summary—Fintech Enables New Automotive Transactions~ || Executive Summary—Fintech Penetration in Automotive Applications~ || Executive Summary—Potential Impact of Fintech on Automotive Industry~ || Executive Summary—Automotive Fintech Key Deals~ || Executive Summary—Daimler’s Fintech Investments~ || Executive Summary—OEM Potential Partnership Targets~ || Executive Summary—Automotive Industry Fintech Ecosystem~ || Executive Summary—5 Major Growth Opportunities ~ || Executive Summary—Key Findings and Future Outlook~ | Research Scope, Objectives, and Methodology~ || Research Scope~ || Research Aims and Objectives~ || Research Methodology ~ || Market Segmentation~ ||| Categorising Fintech Applications~ |||| Digital Retail~ |||| Leasing & Finance~ |||| Insurance~ |||| Digital Payments and Automotive Services~ || Key Financial Definitions~ ||| Smart Contract~ ||| Cryptocurrency~ ||| Blockchain~ || Definition of Fintech~ | Emerging Automotive OEMs and Supplier Synergies in Fintech~ || Manufacturer Interest in Fintech ~ || Emerging Interest of Automotive Industry in Fintech ~ || Car eWallet—A Payment Portal~ || Supplier’s Consortium for Fintech Monetisation~ || Daimler’s Fintech Investments ~ || Implications and Recommendations for Market Participants ~ | Fintech in Automotive Digital Retail ~ || Automotive Digital Retail—The Fintech Evolution~ || Automotive Sales and Digital Retailing~ || Digital Lead Generation to Drive Vehicle Sales~ || Effective New Cars Online Purchase~ || Automotive Digital Retail—Implications and Recommendations ~ | Fintech in Automotive Leasing and Finance~ || Automotive Leasing & Finance—The Fintech Evolution~ || Automotive Finance Trends~ || Ford’s Quick and Easy Online Financing~ || Honcker’s 100% Online Leasing Model~ || Société Générale’s Bet on Auto Leasing~ || Leasing & Finance—Automotive Implications and Recommendations~ | Fintech in Automotive Insurance~ || Automotive Insurance—The Fintech Evolution~ || Usage-based Insurance (UBI) Advancing Fintech in Auto Insurance~ || Digitising Insurance~ || ClaimDi’s Efficient Automotive Insurance Processing~ || Insurance—Implications and Recommendations~ | Fintech in Automotive Digital Payments and Services~ || Automotive Digital Payments—The Fintech Evolution~ || Servicification of the Automotive Industry~ || Sizing the Potential Uptake of New Mobility Services~ || Aria’s Recurring Revenue Streams~ || Mobile Wallets Powering Ride Payments~ || Advertising Revenue for Drivers—Wrapify~ || Build, Buy, or Partner—Payment Solutions~ || Digital Payments and Services—Implications and Recommendations~ | Growth Opportunities and Companies to Action~ || Transformation in Automotive Industry Ecosystem—2017~ || Growth Opportunity in Automotive Fintech~ || Automotive Fintech—5 Major Growth Opportunities~ || Strategic Imperatives for Success and Growth ~ | Key Conclusions and Recommendations~ || Key Conclusions and Future Outlook~ || The Last Word—3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || Market Engineering Methodology~ || Abbreviations and Acronyms Used~ | The Frost & Sullivan Story~
List of Charts and Figures 1. Top 15 Fintech Investment Focus Areas for OEMs, Global, 2017~| 1. Key Fintech Takeaways, Global, 2017~ 2. Fintech in the Automotive Industry: Key Predictions, Global, 2017–2025~ 3. Fintech in the Automotive Industry: Growth of Venture Capital Funding to Fintech Companies, Global, 2012–2016 ~ 4. Fintech in the Automotive Industry: Key Automotive Industry Drivers, Global, 2016~ 5. Fintech in the Automotive Industry: Investment Information, North America and Europe, 2013–2016~ 6. Fintech in the Automotive Industry: Average OEM Investment, Global, 2016 and 2025~ 7. Fintech in the Automotive Industry: Application Growth, Global, 2016 and 2025 ~ 8. Fintech in the Automotive Industry: Market Impact of Fintech in Revenue Terms, Global, 2016 and 2025~ 9. Daimler’s Digital Financing Investments, Global, 2016~ 10. Fintech in the Automotive Industry: Emerging Interest, Global, 2017~ 11. Daimler’s Digital Financing Investments, Global, 2016~ 12. Fintech in the Automotive Industry: Digital Retail, Global, 2017 ~ 13. Top 5 Light Vehicle Markets by Sales, Global, 2015 and 2016~ 14. Digital Retailing Spending, Global, 2016–2025 (Key Years)~ 15. Fintech in the Automotive Industry: Leasing & Finance, Global, 2017 ~ 16. Fintech in the Automotive Industry: Percent New Vehicles Bought on Finance, Global, 2016~ 17. Fintech in the Automotive Industry: Percent Used Vehicles Bought on Finance, Global, 2016~ 18. Automotive Finance Trends, Global, 2016~ 19. Société Générale’s ALD Automotive, Europe, 2017~ 20. Fintech in the Automotive Industry: Automotive Insurance, Global, 2017 ~ 21. Fintech in the Automotive Industry: UBI Revenue, Global, 2016 and 2025~ 22. ClaimDi, Southeast Asia, 2016~ 23. Fintech in the Automotive Industry: Automotive Insurance, Global, 2017 ~ 24. Fintech in the Automotive Industry: Servicification, Global, 2017 ~ 25. Fintech in the Automotive Industry: Mobility Services, Global, 2016–2025~
Author Isaac Abraham
Industries Automotive
WIP Number MC83-01-00-00-00
Is Prebook No