Industry Report: Digitization May Lead to a Boom in Automotive Fintech

Between the 2022 crypto crash and the ongoing aftereffects of the Covid-19 pandemic, investors across the fintech industry are desperate for any information that can provide a way forward for this valuable yet volatile market. Fortunately, market research and global consulting company KBV Research has finished compiling a blockbuster new report, one that may shed some light on the future of the industry.

Among other revelations in the report, titled “Global Automotive Fintech Market Size, Share & Industry Trends Analysis Report By Channel, By Vehicle Type, By Propulsion Type, By End User, By Regional Outlook and Forecast, 2022 – 2028,” KBV Research indicates that automotive fintech is likely to represent an ever-growing sector of the fintech world in the years to come. While this trend is likely to be complicated by ongoing supply chain problems and worsening security risks, the overarching progress of automotive digitization will by all accounts continue apace, and will have the potential to transform how the world buys and pays for vehicles.

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“The digitization of supply chains is fueled by the continuously growing desire for industries to be more responsible and sustainable globally,” wrote the authors of the report. “Technologies like blockchain and smart contracts will be used to accomplish this objective of traceability and transparency further. The increasing digitalization of the automotive sector provides different growth opportunities for automotive fintech firms to provide better financial services to the consumers and thereby surge market growth.”