The global Vehicle Roadside Assistance Market was estimated at USD 23.6 billion in 2021 and is anticipated to reach around USD 34.8 billion by 2030, growing at a CAGR of roughly 4.1% between 2022 and 2030.
The global Vehicle Roadside Assistance Industry Market research report offers an in-depth analysis of the global market size, which is further segmented into regional and country-level market size, and segmentation market growth. Also, it provides the market share, sales analysis, competitive landscape, impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations.
Vehicle Roadside Assistance Industry Market: Overview
Post COVID-19 pandemic, the travel industry is again witnessing very high growth globally. With the growth in the travel industry, the demand for Vehicle Roadside Assistance Industry is also growing proportionally. Vehicle Roadside Assistance Industry websites and applications offer a convenient platform to the customers, allowing them to have a wide variety of options available as per their requirements and budget. With increased mobility and the need for a better platform to address emergency situations digitalization is more likely to bridge the communication gap and improve the turnaround time during a roadside assistance call.
Many vendors possess their websites and have dedicated social media pages to offer and display quality information about the services to their consumers. Therefore, in the post-pandemic world, with the surge in vehicle sales, the need for roadside assistance is much more likely to exert a positive influence in the end-user market.
Browse the full “Vehicle Roadside Assistance Market Size, Trends and Insights By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Service (Tire Replacement, Winch Battery Replacement, Towing, Jump Start, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report at https://www.custommarketinsights.com/report/vehicle-roadside-assistance-market/
Growth Factors
The Vehicle Roadside Assistance Industry Market is propelled by the increase in digitalization of insurance services and the rise in the use of smartphone and mobile applications. The vendors in roadside assistance programs prefer working through dedicated channels that encourage consumers to opt more for such programs.
On the other hand, car dealers are now offering complementary roadside assistance to first-time buyers. This would eventually not only augment car sales but also add to the leverage of the dealer in the car market. On a simpler note, the sale of a vehicle is directly proportional to the sale of an add-on on the insurance package. Therefore, improved customer service to facilitate roadside assistance programs is one of the significant aspects of market development.
Segmental Overview
The Vehicle Roadside Assistance Industry Market is categorized into vehicle type and service. By vehicle type, the passenger car market was estimated to be the largest segment in the Vehicle Roadside Assistance Industry Market and continues to be the largest segment throughout 2022-2030. A rising number of private car owners with significant demand for roadside assistance is accelerating the growth of the market. In addition, the high ratio of insurance claim settlements for roadside assistance is one of the crucial factors to determine the forces of market dynamics. Moreover, the presence of several players in the end-user market is one of the significant aspects.
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Regional Overview
North America is estimated to be the leading region in the global vehicle roadside assistance market. The region houses several insurance providers and a vast presence of third-party vendors. Besides, high consumer demand for roadside assistance has been growing annually. While a maximum from the consumer pool would opt in for full insurance coverage, a specific population, such as the middle-income to the high-income group, would definitely and exclusively opt for a roadside assistance package that facilitates help with towing and battery replacement services.
Key Players Insights
Our market analysis of the Vehicle Roadside Assistance Industry also involves a separate section dedicated to major players operating in the market. Our analysts offer an understanding of the financial statements of all the key participants, together with their product portfolio and SWOT analysis. Moreover, the report also offers a competitive landscape chapter, including strategic key development, market share, as well as global market ranking analysis of the players mentioned. Additionally, we offer our clients with leverage to modify the list of players mentioned in our report as a part of our free customization.
Some of the prominent players
- Viking Assistance Group
- Best Roadside Service
- AutoVantage
- Paragom Motorclub
- Roadside Masters
- ARC Europe SA
- Agero
- Allianz Global Assistance
- National Motor Club
- SOS International A/S
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