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Reliable Data You Can Trust
A recent report published by Infinium Global Research on vehicle roadside assistance market provides in-depth analysis of segments and sub-segments in the global as well as regional vehicle roadside assistance market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional vehicle roadside assistance market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global vehicle roadside assistance market.
Within the automotive business, the vehicle roadside assistance market is a significant area that provides services to drivers who encounter unanticipated vehicle problems while driving. Numerous providers, including car clubs, insurance companies, and specialist roadside help organizations, are part of this sector. Its importance in the world market comes from giving drivers prompt assistance and guaranteeing their comfort, safety, and peace of mind. Quick response times, round-the-clock availability, and a variety of services like tire changing, fuel delivery, battery jump starts, and towing are some advantages of auto roadside help. These services assist drivers in overcoming current obstacles as well as lowering the likelihood of accidents, traffic jams, and other roadside hazards. Furthermore, roadside assistance becomes more crucial as cars get more complicated because it can solve problems that most drivers can't handle on their own. All things considered, the global market for vehicle roadside assistance is essential to raising driving standards and overall driving pleasure.
Owing to the rise in the per capita income along with rapid urbanization, the number of sales of vehicles is rising. For instance, The International Energy Agency claims that from 2017 to 2022, the number of electric vehicle sales increased from approximately 1 million to over 10 million in just 5 years. As more individuals and businesses own vehicles, they are seeking assurance of having a professional service to ensure the safety and security of drivers and passengers available to help them in case of vehicle malfunctions and emergencies. As car ownership rises globally, a wider pool of potential customers is available to the roadside assistance sector. Therefore, these factors further contribute to the growth of the roadside assistance market. Moreover, the demand for safety during supply chain operations in the logistics industry is increasing, which is fueling the growth of the vehicle roadside assistance market. In the expanding transportation and logistics industry, the safety of products and drivers on the supply chain is vitally important. Roadside assistance services are essential in dealing with unforeseen events and emergencies during the transportation of goods. However, not all roadside assistance plans offer comprehensive coverage and may have restrictions on the types of car problems they will cover and the distance they will tow vehicles. Additionally, some plans may limit the number of service calls allowed each year and have geographic limitations. These limitations and coverage restrictions can hinder the growth of the vehicle roadside assistance market. Although, the growing adoption of connected vehicles creates an opportunity for the growth of the vehicle roadside assistance market.
The vehicle roadside assistance market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe is expected to hold a maximum share of the vehicle roadside assistance market during the projected period. The demand for vehicle roadside assistance services in the area is increasing due to factors such as rising car sales across Europe and the region's large on-road number, rising per capita income, consumer preferences for luxury, and high standards of life these are some of the key drivers driving the market's growth. Moreover, the Asia Pacific region is anticipated to grab a significant share of the market due to the aging of on-road vehicles and rising sales of both new and used passenger vehicles in countries throughout the region, including China, India, and ASEAN.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 20.77 Billion |
| Market Size by 2030 | USD 36.24 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 6.35% |
| Largest Market | Europe |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Vehicle Type, By Service, and By Provider |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global vehicle roadside assistance market covers segments such as vehicle type, service, and provider. On the basis of vehicle type, the sub-markets include commercial, and passenger. On the basis of service, the sub-markets include jump start/pull start, towing, fuel delivery, tire replacement, lockout/replacement key services, and others. On the basis of provider, the sub-markets include auto manufacturer, motor insurance, independent warranty, and automotive clubs.
The report provides profiles of the companies in the market such as ARC Europe SA, Viking Assistance Group, Swedish Auto, Allianz Global Assistance, Agero, Inc., Best Roadside Service, Future Generali India Insurance Company Ltd, HONK Technologies, SOS International AB, and AutoVantage.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the vehicle roadside assistance market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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