Report Code: CMI16789

Published Date: August 2022

Pages: 220+

Category: Automotive

Report Snapshot

CAGR: 4.1%
23.6B
2021
25.23B
2022
34.8B
2030

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Viking Assistance Group
  • Best Roadside Service
  • AutoVantage
  • Others

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Reports Description

The global Vehicle Roadside Assistance Market was estimated at USD 23.6 billion in 2021 and is expected to reach USD 25.23 billion in 2022 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 Market research report offers an in-depth analysis of the global market size, which is further segmented into the 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 Market: Overview

Roadside assistance for small and large vehicle segments is projected to grow in the coming years because the developments in vehicle infrastructure are massive, and the demand for roadside assistance in remote areas has gained a lot of attention.

The facility incurs a lot of features that need to be addressed in a stranded situation. These days, a lot of general insurance providers offer add-on covers that encourage vehicle owners to buy a floated insurance cover for their vehicles. In addition, vehicle owners travel hassle-free without any worries of getting stranded during an emergency situation. Besides, from the commercial standpoint, the market conditions are favorable for organic growth based on the fact that the vehicle industry witnessed a surge in demand for auto insurance in the past few years.

Vehicle Roadside Assistance Market: COVID–19 Impact Analysis

The outbreak of COVID-19 has severely affected various industries globally, owing to travel restrictions, trade bans, and lockdown imposed by the majority of governments during 2020. The vehicle insurance industry witnessed a setback in 2020 as the market conditions remained unpredictable till the first quarters of 2021. However, in 2020, the insurance industry witnessed a steady growth as vehicle purchases remained high despite latency in the passing of the vehicles that eventually impacted the buying process of auto insurance.

On the other hand, in the early quarters of 2021, as markets attempted to reopen and operate a full capacity, the auto industry underwent numerous transformations and experienced a shift in consumer mindset. As an example, 6 out of 10 consumers chose add-on covers in their insurance packages. Going forward, as the auto industry witnesses huge demand, market conditions are projected to turn favorable with more consumer spending on general insurance.

Vehicle Roadside Assistance Market: Growth Drivers

Technological advancements in the vehicle roadside assistance industry

The vehicle roadside assistance industry witnessed huge growth in terms of technological transformation. The demand for roadside connectivity has grown in the past few years and is mainly driven by the improvements to communication technology in the auto industry. Automated solutions, attractive offers, and a high commitment to service are some of the factors driving the market growth.

The use of chatbots, automated surveys and improved customer service is projected to continue as a positive scenario for consumers. As consumers prefer convenience to avail of roadside assistance, insurance providers and third-party vendors are likely to cater to consumer demand.

Growing consumer base to enlarge the market growth 

An increase in consumer base is one of the significant factors contributing to market developments. Digitalization in the auto industry has enabled new avenues for several auto companies to offer remote vehicle services to consumers via mobile applications and other platforms.

In addition, the consumer lookout on the increasing rate of road traffic, vehicle breakdown, and traffic congestion exerts a positive influence and results in opting a full insurance coverage. Besides, the urban population exhibits the trend of picking up short drives to nature and remote areas as a leisure activity has a huge significance on the market growth thereby resulting in having roadside assistance as a backup.

Global Vehicle Roadside Assistance Market 2023 – 2032 (By Provider)

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Vehicle Roadside Assistance Market: Segmentation Analysis

The Vehicle Roadside Assistance Market is categorized into vehicle type and service. By vehicle type, the passenger vehicle market was estimated to be the largest segment in the Vehicle Roadside Assistance Market and is expected to be the largest segment throughout 2022-2030. By service, the towing segment is estimated to hold the largest market share throughout the forecast period.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 23.6 Billion
Projected Market Size in 2030 USD 34.8 Billion
CAGR Growth Rate 4.1% CAGR (2022-2030)
Base Year 2023
Forecast Period 2024-2033
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, and Others
Key Segment By Vehicle Type, Service, and By Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Insights:

  • As per the analysis shared by our research analyst, the Vehicle Roadside Assistance Market is estimated to grow annually at a CAGR of around 4.1% over the forecast period (2022-2030).
  • In terms of revenue, the Vehicle Roadside Assistance Market size was valued at around USD 23.6 billion in 2021 and is anticipated to reach around USD 34.8 billion by 2030, growing at a CAGR of 4.1% till and 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • Based on vehicle type, the passenger vehicle segment was predicted to show maximum market share in the year 2021.
  • Based on service, the towing segment was the leading revenue-generating category in 2021.
  • On the basis of geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Global Vehicle Roadside Assistance Market 2023 – 2032 (By Billion)

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Recent Developments

  • July 2022: Renault India announced that it will be having a full-week service camp at all dealerships
  • April 2022: Crayon Motors recently announced to initiation of roadside assistance in partnership with Global Assure. This service would be offered pan-India says, company officials.

Regional Landscape

The Vehicle Roadside Assistance Market is dominated by the Asia Pacific region, followed by North America. The market for Vehicle Roadside Assistance Industry in North America is witnessing growth attributed to the increasing demand for roadside assistance in the countryside. Moreover, the rise in competition among the key players remains one of the crucial factors to the regional market growth. The presence of consumers with significant spending for roadside assistance, and the need for mandated insurance coverage in the U.S. is also pivotal to the market developments.

Global Vehicle Roadside Assistance Market 2023 – 2032 (By Vehicle)

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Competitive Landscape

Leading players operating in Vehicle Roadside Assistance Market are focused on constant innovations to distinguish and personalize their offerings for potential users. Some of the key strategies expected to take place in the market during the forecast years include mergers and acquisitions, new offerings, and partnerships.

Our report offers both quantitative and qualitative insights into the Vehicle Roadside Assistance Market and major development initiatives adopted by the key players. Further, it offers competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and recent developments of the players profiled.

The global Vehicle Roadside Assistance Market is segmented as follows:

By Service

  • Tire Replacement
  • Towing
  • Jump Start/Pull Start
  • Fuel Delivery
  • Lockout/Replacement Key Service
  • Battery Assistance
  • Winch
  • Trip Routing/Navigational Assistance
  • Other Mechanic Service

By Provider

  • Motor Insurance
  • Auto Manufacturer
  • Automotive Clubs
  • Independent Warranty

By Vehicle

  • Commercial Vehicle
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle
  • Passenger Vehicles
    • Hatchback
    • Sedan
    • Utility Vehicles

By Region/Geography

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Vehicle Roadside Assistance Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Vehicle Roadside Assistance Market: snapshot
  • Chapter 3. Global Vehicle Roadside Assistance Market – Industry Analysis
    • 3.1 Vehicle Roadside Assistance Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Technological advancements in the vehicle roadside assistance industry
      • 3.2.2 Driver 2
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Vehicle Type
      • 3.7.2 Market attractiveness analysis By Service
  • Chapter 4. Global Vehicle Roadside Assistance Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Vehicle Roadside Assistance Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Vehicle Roadside Assistance Market – Vehicle Type Analysis
    • 5.1 Global Vehicle Roadside Assistance Market overview: By Vehicle Type
      • 5.1.1 Global Vehicle Roadside Assistance Market share, By Vehicle Type, 2021 and 2030
    • 5.2 Passenger Vehicle
      • 5.2.1 Global Vehicle Roadside Assistance Market by Passenger Vehicle, 2022 – 2030 (USD Billion)
    • 5.3 Commercial Vehicle
      • 5.3.1 Global Vehicle Roadside Assistance Market by Commercial Vehicle, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Vehicle Roadside Assistance Market – Service Analysis
    • 6.1 Global Vehicle Roadside Assistance Market overview: By Service
      • 6.1.1 Global Vehicle Roadside Assistance Market share, By Service, 2021 and 2030
    • 6.2 Tire Replacement
      • 6.2.1 Global Vehicle Roadside Assistance Market by Tire Replacement, 2022 – 2030 (USD Billion)
    • 6.3 Winch Battery Replacement
      • 6.3.1 Global Vehicle Roadside Assistance Market by Winch Battery Replacement, 2022 – 2030 (USD Billion)
    • 6.4 Towing
      • 6.4.1 Global Vehicle Roadside Assistance Market by Towing, 2022 – 2030 (USD Billion)
    • 6.5 Jump Start
      • 6.5.1 Global Vehicle Roadside Assistance Market by Jump Start, 2022 – 2030 (USD Billion)
    • 6.6 Others
      • 6.6.1 Global Vehicle Roadside Assistance Market by Others, 2022 – 2030 (USD Billion)
  • Chapter 7. Vehicle Roadside Assistance Market – Regional Analysis
    • 7.1 Global Vehicle Roadside Assistance Market Regional Overview
    • 7.2 Global Vehicle Roadside Assistance Market Share, by Region, 2021 & 2030 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Vehicle Roadside Assistance Market, 2022 – 2030 (USD Billion)
        • 7.3.1.1 North America Vehicle Roadside Assistance Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 North America Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030
      • 7.4.1 North America Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030 (USD Billion)
    • 7.5 North America Vehicle Roadside Assistance Market, by Service, 2022 – 2030
      • 7.5.1 North America Vehicle Roadside Assistance Market, by Service, 2022 – 2030 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Vehicle Roadside Assistance Market, 2022 – 2030 (USD Billion)
        • 7.4.2.1 Europe Vehicle Roadside Assistance Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 Europe Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030
      • 7.4.1 Europe Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030 (USD Billion)
    • 7.5 Europe Vehicle Roadside Assistance Market, by Service, 2022 – 2030
      • 7.5.1 Europe Vehicle Roadside Assistance Market, by Service, 2022 – 2030 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Vehicle Roadside Assistance Market, 2022 – 2030 (USD Billion)
        • 7.5.3.1 Asia Pacific Vehicle Roadside Assistance Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 Asia Pacific Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030
      • 7.4.1 Asia Pacific Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030 (USD Billion)
    • 7.5 Asia Pacific Vehicle Roadside Assistance Market, by Service, 2022 – 2030
      • 7.5.1 Asia Pacific Vehicle Roadside Assistance Market, by Service, 2022 – 2030 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Vehicle Roadside Assistance Market, 2022 – 2030 (USD Billion)
        • 7.6.4.1 Latin America Vehicle Roadside Assistance Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 Latin America Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030
      • 7.4.1 Latin America Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030 (USD Billion)
    • 7.5 Latin America Vehicle Roadside Assistance Market, by Service, 2022 – 2030
      • 7.5.1 Latin America Vehicle Roadside Assistance Market, by Service, 2022 – 2030 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Vehicle Roadside Assistance Market, 2022 – 2030 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Vehicle Roadside Assistance Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 The Middle-East and Africa Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030
      • 7.4.1 The Middle-East and Africa Vehicle Roadside Assistance Market, by Vehicle Type, 2022 – 2030 (USD Billion)
    • 7.5 The Middle-East and Africa Vehicle Roadside Assistance Market, by Service, 2022 – 2030
      • 7.5.1 The Middle-East and Africa Vehicle Roadside Assistance Market, by Service, 2022 – 2030 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Viking Assistance Group
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Best Roadside Service
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 AutoVantage
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Paragom Motorclub
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Roadside Masters
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 ARC Europe SA
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Agero
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Allianz Global Assistance
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 National Motor Club
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 SOS International A/S
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments

List Of Figures

Figures No 1 to 21

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2028
  • Market revenue estimates and forecasts up to 2028, by technology
  • Market revenue estimates and forecasts up to 2028, by application
  • Market revenue estimates and forecasts up to 2028, by type
  • Market revenue estimates and forecasts up to 2028, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

List of the prominent players in the global Vehicle Roadside Assistance Market:

  • 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
  • Others

FAQs

“Asia Pacific” region will lead the global Vehicle Roadside Assistance market during the forecast period 2022 to 2030.

The vehicle roadside assistance industry witnessed a huge growth in terms of technological transformation. The demand for roadside connectivity has grown in the past few years and is mainly driven by the improvements to the communication technology in auto industry.

The key players operating in the Vehicle Roadside Assistance market are 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, and Others.

The global Vehicle Roadside Assistance market is expanding growth with a CAGR of approximately 4.1% during the forecast period (2022 to 2030).

The global Vehicle Roadside Assistance market size was valued at USD 23.6 billion in 2021 and it is projected to reach around USD 34.8 billion by 2030.

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