Rockville, March 01, 2023 (GLOBE NEWSWIRE) -- The global vehicle roadside assistance market is estimated to expand at a CAGR of 4.8% from 2023 to 2033. The market is valued at US$ 25 billion in 2023 and is expected to reach US$ 40 billion by the end of 2033.
In the event of a breakdown, a driver can get assistance from vehicle roadside assistance. It is designed to make adjustments and repair minor mechanical and electrical issues so that an automobile can run properly once more. Vehicle roadside assistance is offered by automakers and other service providers.
These service companies give the necessary assistance in the event that an automobile malfunctions or crashes. Along with fixing common roadside problems like flat tyres and dead batteries, roadside assistance also involves maintenance for mechanical and electrical systems. Due to the growing popularity of mobile gasoline delivery services, the market for vehicle roadside assistance is undergoing significant change.
Download Sample Copy of This Report –
https://www.factmr.com/connectus/sample?flag=S&rep_id=5348
The Vehicle Roadside Assistance market is driven by several factors, including:
- The demand for roadside assistance services has also increased due to the growth in the sales of commercial vehicles such as trucks and buses.
- The integration of advanced technologies like GPS tracking, predictive maintenance, and remote diagnostics into roadside assistance services has increased the efficiency of service providers.
- Consumers are becoming more aware of the benefits of roadside assistance services, which include emergency fuel delivery, jumpstarting, and tire change.
- The trend of urbanization has resulted in more people living in cities, leading to a higher demand for roadside assistance services due to the high concentration of vehicles in cities.
- Governments worldwide are mandating that vehicle manufacturers offer roadside assistance services to customers, which has increased the availability of such services.
The goal of offering roadside support for vehicles is to draw in a wide range of clients and capture opportunities for revenue growth through roadside assistance. The rise in auto sales across the globe is one of the major market factors.
Throughout the course of the projection period, it is expected that rising demand for car connection solutions, such as weather alerts, other emergency solutions, and road safety, will drive market growth.
Trends supporting Vehicle Roadside Assistance
- Roadside assistance service providers are increasingly using AI and ML technologies to optimize their operations and improve response times. For instance, AI-powered chatbots can quickly provide basic assistance to customers before dispatching a service provider.
- Roadside assistance providers are developing mobile applications that allow customers to easily request assistance and track the status of their request in real time. applications also enable service providers to dispatch the nearest available technician to the customer's location.
- With the increasing popularity of EVs, roadside assistance service providers are investing in specialized training for their technicians to handle EV-specific issues such as battery replacements and charging.
- Roadside assistance providers are offering personalized services that cater to the unique needs of individual customers. For example, some providers offer services tailored to families with young children or pet owners.
- Roadside assistance providers are taking steps to reduce their environmental impact by using eco-friendly vehicles and promoting sustainable practices such as recycling and reducing waste.
- Roadside assistance providers are partnering with automotive manufacturers and insurance companies to provide comprehensive services and better customer experience. These partnerships allow providers to offer value-added services such as telematics-based insurance products and preventive maintenance services.
Overall, the Vehicle Roadside Assistance market is evolving to meet the changing needs of customers and the automotive industry, with a focus on technology, sustainability, and personalized services.
Get Customization on this Report for Specific Research Solutions –
https://www.factmr.com/connectus/sample?flag=RC&rep_id=5348
Restraints to the growth of the market
- The market for roadside assistance services is highly competitive, with many established companies and new entrants. This competition can limit the growth potential of individual companies in the industry.
- With advancements in vehicle technology, many modern cars are now equipped with built-in roadside assistance features that can alert emergency services automatically. This can reduce the demand for traditional roadside assistance services.
- Severe weather events, such as hurricanes or snowstorms, can disrupt the operations of roadside assistance companies, leading to delays in service delivery and potentially damaging customer relations.
Competitive Market:
- The vehicle roadside assistance services market is highly competitive, with many established companies and new entrants vying for market share. Some of the major players in the market include AAA, Allstate, Agero, and National General Motor Club, among others.
- In addition, some companies are leveraging technology to differentiate themselves from their competitors.
- For example, some companies offer mobile apps that allow customers to request assistance, track the status of their service requests, and communicate with service providers in real-time.
- To stay competitive, companies in the vehicle roadside assistance market are also focusing on building strong relationships with customers. This is achieved through providing high-quality service, offering personalized support, and investing in customer support technologies such as chatbots and virtual assistants.
Key Companies Profiled
- Falck
- Paragon Motor Club
- Roadside Masters
- AutoVantage
- Agero, Inc.
- Viking Assistance Group
- National Motor Club
- SOS International
Key Segments of Vehicle Roadside Assistance Industry Research
- By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- By Service:
- Towing
- Tire Replacement
- Fuel Delivery
- Jump Start/Pull Start
- Lockout/Replacement Key Services
- Winch
- Battery Assistance
- Trip Routing/Navigational Assistance
- Others
- By Provider:
- Auto Manufacturers
- Motor Insurance
- Independent Warranty
- Automotive Clubs
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Quick Buy: Vehicle Roadside Assistance Market Report –
https://www.factmr.com/checkout/5348
Digitalization and recent advancements in the automotive industry have made it feasible for clients to receive remote car roadside assistance through a range of mobile apps and IoT devices, and this is positively affecting the market.
Key Questions Covered in the Vehicle Roadside Assistance Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will sales in the global Vehicle Roadside Assistance Market grow until 2033?
- Which are the factors hampering the Vehicle Roadside Assistance market?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Vehicle Roadside Assistance Market during the forecast period?
Check out more related studies published by Fact.MR Research:
Motorcycle Rider Assistance System Market: Nowadays, Motorcycle Rider Assistance System is widely used for not only professional riders but also for increased traffic in the urban and suburban roads of many crowded towns. The Global Motorcycle Rider Assistance System market is estimated to record a lower single-digit CAGR across the globe from 2018 to 2028.
Vehicle Anti-theft System Market: The global vehicle anti-theft system market stands at a value of US$ 11.5 billion and is projected to reach US$ 16.2 billion by the end of 2027. Worldwide sales of vehicle anti-theft systems are anticipated to increase rapidly at a CAGR of 7.1% through 2027.
Vehicle Inverter Market: Vehicle Inverter is an equipment that is utilized to convert one form of energy into other i.e. it convert input DC voltage into output AC voltage or vice versa.
Vehicle Mounted Spotlights Market: The global vehicle mounted spotlight market is set to surpass a valuation of US$ 656.3 million in 2022 and further expand at a CAGR of 5.1% to reach US$ 1,082.9 million by the end of 2032. Sales of vehicle mounted LED spotlight accounted for around than 2/3rd of the global spotlight market by the end of 2022.
About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Author: Mr. Shubham Patidar
Email : shubham@factmr.com
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube
