Vehicle roadside assistance is provided to automobile drivers whenever there is a breakdown of vehicle. Through the vehicle roadside assistance, onsite help is offered to drivers including minor repairs, electrical repairs, and adjustments in an attempt to make a vehicle drivable again. The Roadside Assistance Market is growing with the increase in the number of aging vehicles. Automobiles that are more than 10 years old are twice as likely to end up stranded on the roads compared to newer vehicles. When a vehicle collapses or has a road crash, roadside support fixes the problem on the spot, most of the time. Roadside aid for vehicles offers onsite support, including on-site small electrical and mechanical repair, support of flat-tires, jump-start battery, lock-out and loss of keys, vehicle towing, and fuel delivery services for drivers. However, cost of road side assistance services vary based on labor and service charge rates, which are included in membership plans.
The service providers offer all services in terms of membership plan, that are cost effective and remain valid for a year and more. Different service providers have different terms and conditions which has influenced the Roadside Assistance Market . Also, app-driven services have increased offerings for these services and eliminated the stress and complexity of roadside assistance, leading to expansion of roadside assistance network coverage.
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The factors that drive the Roadside Assistance Market growth is production of automobiles and increase in the number of aging vehicles, which have chances of breakdown or mechanical and electrical issues, increase in per capita income of consumers, reduction in vehicle loan interest rates, and easy availability of finance with customized financial schemes. Rise in the installation of app-based services has also propelled the growth of the market as these services offer reduction in response time for vehicle roadside assistance services. Extreme weather affects millions of drivers across the globe, this market has a huge scope of growth in icy and snowy terrain across several countries having dangerous and extreme driving conditions and high risk of road accidents. The major factors that restrain the market are the high cost of road side assistance vehicles and lack of infrastructure that results to connectivity issues in remote areas, where the assistance is mostly required.
The major companies profiled for the roadside assistance market share include ARC Europe SA, Viking Assistance Group AS, Falck A/S, Allianz Global Assistance, Allstate Insurance Company, AutoVantage, Best Roadside Service, Paragon Motor Club, Roadside Masters, Access Roadside Assistance, and others. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
The roadside assistance market is segmented into service, provider, vehicle, and region. On the basis of service, it is categorized into Towing, tire replacement, fuel delivery, jump start/pull start, lockout/ replacement key service, winch, battery assistance, trip routing/ navigational assistance, and other mechanic services. By provider, the market is classified into auto manufacturer, motor insurance, independent warranty, and automotive clubs. On the basis of vehicle, it is bifurcated into Passenger Vehicle and Commercial Vehicle (LCV and HCV). By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the roadside assistance market with current trends and future estimations to depict the imminent investment pockets.
- The overall potential is determined to understand the profitable trends to gain a stronger foothold in roadside assistance industry.
- The roadside assistance market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current roadside assistance market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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ROADSIDE ASSISTANCE MARKET KEY SEGMENTS
- Tire Replacement
- Fuel Delivery
- Jump Start/Pull Start
- Lockout/ Replacement Key Service
- Battery Assistance
- Trip Routing/ Navigational Assistance
- Other Mechanic Service
- Auto Manufacturer
- Motor Insurance
- Independent Warranty
- Automotive Clubs
- Passenger Vehicle
- Commercial Vehicle (LCV and HCV)
Questions answered in the Roadside Assistance Market research report:
- What is the growth rate of the Roadside Assistance Market during the forecast period?
- What will be the global Roadside Assistance market size from 2019 to 2026?
- What are the leading manufacturing companies in the Roadside Assistance Market?
- How the major current trends will shape the market in the future?
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