VEHICLE ROADSIDE ASSISTANCE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The vehicle roadside assistance market is estimated to be valued at US$ 25.76 billion in 2024 and is expected to reach US$ 36.82 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

Report Description:

The vehicle roadside assistance market has seen steady growth over the past decade. As more cars take to the roads every year, the number of breakdowns and other roadside issues have increased manifold. Vehicle roadside assistance services aim to provide on-site support to motorists facing problems while driving, helping them get back on the move quickly and safely. These services are offered either as stand-alone subscription plans or bundled with other vehicle protection offerings like extended warranties and insurance. They can cover services like tire changing, fuel delivery, jump starts, lockout assistance, and towing of vehicles to the nearest garage. With growing vehicle ownership and a higher preference for convenience and safety on roads, the vehicle roadside assistance market is poised to witness further expansion in the coming years.

Market Dynamics:

The global vehicle roadside assistance market is driven by factors such as growing motorization rates and vehicle, increasing demand for one-stop solutions for vehicle protection, and preference for convenience and safety among drivers. However, high service costs and varying regulations across regions restrain the market growth. Emergence of new technologies like Internet of Things (IoT) and Artificial Intelligence (AI) presents an opportunity for roadside assistance providers to offer enhanced experience through smart solutions.

Key features of the study:

• This report provides an in-depth analysis of the global vehicle roadside assistance market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global vehicle roadside assistance market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Agero Inc., ALD SA, Allianz SE, American Automobile Association Inc., ARC Europe SA, AutoVantage, Best Roadside Service, Camping World Holdings Inc., Falck Danmark AS.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global vehicle roadside assistance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vehicle roadside assistance market.

Market Segmentation

• Vehicle Type
  • Passenger Car
  • Commercial Vehicle
•  Service Type
  • Towing
  • Tire Replacement
  • Fuel Delivery
  • Others
•  Providers
  • Auto Manufacturers
  • Motor Insurance
  • Independent Warranty
  • Automotive Clubs
• Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • Agero Inc.
  • ALD SA
  • Allianz SE
  • American Automobile Association Inc.
  • ARC Europe SA
  • AutoVantage
  • Best Roadside Service
  • Camping World Holdings Inc.
  • Falck Danmark AS
  • Assicurazioni Generali S.p.A.
  • Honk Technologies Inc.
  • Paragon Motor Club Inc.
  • Prime Assistance Inc.
  • RAC Group Holdings Ltd.
  • Roda Assistance Pvt. Ltd.
  • Sompo Holdings Inc.
  • SOS International AS
  • The Allstate Corp.
  • Uber Technologies Inc.