Roadside Assistance Market Size to Reach $47.6 Billion by 2032 at 5.2% CAGR: Allied Market Research

roadside assistance market

Roadside Assistance Market

OREGAON, PORTLAND, UNITED STATES , September 26, 2023 / — Allied Market Research published a report, titled, “Roadside Assistance Market by Service (Towing, Tire Replacement, Fuel Delivery, Jump Start/Pull Start, Lockout/ Replacement Key Service, Winch, Battery Assistance, Trip Routing/Navigational Assistance, and Others), Provider (OEM, Motor Insurance, Independent Service Provider, and Others), and Vehicle (Commercial Vehicles and Passenger Vehicles): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global roadside assistance industry generated $28.9 billion in 2022, and is anticipated to generate $47.6 billion by 2032, witnessing a CAGR of 5.2% from 2023 to 2032.

👉 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 –

The 𝐠𝐥𝐨𝐛𝐚𝐥 𝐫𝐨𝐚𝐝𝐬𝐢𝐝𝐞 𝐚𝐬𝐬𝐢𝐬𝐭𝐚𝐧𝐜𝐞 industry is dominated by Asia-Pacific. Increase in demand for vehicles along with rise in per capita income drive the market growth. In addition, this region is the most attractive automotive market for numerous market players. Penetration of advanced driver assistance and electric vehicles have encountered significant automotive sales in the region and that in turn has increased the road assistance insurance services demand.

The rise in the number of older vehicles with numerous electrical and mechanical problems is the major factor driving the growth of the roadside assistance market. In addition, the roadside assistance industry is growing since app-based services have sped up roadside help response times. Extreme weather conditions have an influence on many drivers throughout the world, especially in cold weather when battery power drains and battery jump starts are necessary. Further, icy and snowy driving conditions in some areas increase the occurrence of deadly traffic collisions, necessitating roadside vehicle assistance.

𝐋𝐢𝐬𝐭 𝐎𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:-
🔅Allianz Global Assistance
🔅Allstate Insurance Company
🔅ARC Europe SA
🔅Falck A/S
🔅Paragon Motor Club
🔅Roadside Transportation LLC
🔅SOS International
🔅Viking Assistance Group AS

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐝 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 such as telematics, GPS tracking, and vehicle diagnostics offer immense potential for roadside assistance providers. These technologies enable real-time monitoring of vehicles, allowing providers to proactively identify potential issues, track vehicle locations, and offer faster response times. With precise location information, providers may dispatch assistance more efficiently, minimizing wait times and improving overall service quality. Furthermore, connected car technologies allow for remote diagnostics and troubleshooting, enabling technicians to assess vehicle problems remotely and potentially resolve minor issues without physical intervention.

👉 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 –

Tire replacement assistance is another vital service provided in the roadside assistance market. It aims to assist drivers who experience a flat tire while driving, ensuring their safety, and helping them get back on the road quickly. Tire replacement assistance is designed to provide convenience to drivers who encounter tire problems on the road. It saves them from the inconvenience of changing a tire themselves, especially in unfavorable weather conditions or when they lack the necessary tools or experience.

In addition, mobile applications and digital platforms play a crucial role in improving customer experience and convenience. Roadside assistance providers can develop user-friendly mobile apps that allow customers to request assistance, track the arrival of service vehicles, and receive updates in real-time. These digital platforms may also facilitate seamless communication between customers and service providers, enhancing transparency and customer satisfaction. As autonomous and electric vehicles gain traction, it is expected to provide new opportunities for roadside assistance providers to specialize in servicing these specific vehicle types.

👉 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 –

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The outbreak of COVID-19 led to reduced demand for roadside assistance services due to nationwide lockdowns and restrictions on mobility. The reduction in vehicle usage directly affected the demand for assistance services, resulting in decreased revenue for roadside assistance providers. Furthermore, the economic impact of the pandemic led to financial constraints for individuals and businesses. However, post-pandemic, an increase in demand for vehicles, mobility, and road traffic has encouraged market players to deliver enhanced roadside assistance services to cater to the increase in market demand.

𝐑𝐄𝐋𝐀𝐓𝐄𝐃 𝐓𝐀𝐆𝐒 – 𝐂𝐚𝐫 𝐁𝐫𝐞𝐚𝐤𝐝𝐨𝐰𝐧 𝐑𝐞𝐜𝐨𝐯𝐞𝐫𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 – 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 – 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:


Source link

The content is by EIN Presswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.

Back to top button