Press release
Roadside Assistance Market on the Rise, Projected to Achieve $47.6 Billion by 2032 | AMR
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.
๐๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/5736
๐๐ก๐ ๐ฉ๐๐ฌ๐ฌ๐๐ง๐ ๐๐ซ ๐ฏ๐๐ก๐ข๐๐ฅ๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on vehicle, the passenger vehicle segment held the highest market share in 2022, accounting for nearly two-thirds of the global roadside assistance market revenue and is estimated to maintain its leadership status during the forecast period. Roadside assistance services are designed to provide convenience, safety, and peace of mind to passenger vehicle owners, ensuring they have access to timely and professional assistance in unexpected situations. The commercial vehicle segment is projected to manifest the highest CAGR of 5.7% from 2023 to 2032. Roadside assistance provides financial protection to commercial vehicles and covers the business from any losses and damages.
๐๐ก๐ ๐ญ๐จ๐ฐ๐ข๐ง๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on service, the towing segment held the highest market share in 2022, accounting for nearly one-third of the global roadside assistance market revenue and is estimated to maintain its leadership status during the forecast period. Towing is a crucial component of roadside assistance services. It involves the transportation of a disabled vehicle from its location to a designated repair facility or another desired destination. Towing services are typically provided when a vehicle cannot be immediately repaired on-site or is involved in an accident that renders it inoperable. The battery assistance segment is expected to register the highest CAGR of 6.8% from 2023 to 2032. Battery assistance is particularly valuable when drivers are stranded due to a dead battery, especially in situations where they are unable to start their vehicles or lack the necessary tools and knowledge to jump-start the battery themselves.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/roadside-assistance-market/purchase-options
๐๐ก๐ ๐จ๐ญ๐ก๐๐ซ๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on provider, the others segment held the highest market share in 2022, accounting for more than one-thirds of the global roadside assistance market revenue and is estimated to maintain its leadership status during the forecast period. Other providers such as automotive clubs, rental car companies, unorganized players, and others offer specialized services or cater to specific segments of the market. They contribute to ensuring the safety and convenience of drivers by providing prompt and reliable assistance during roadside emergencies. The OEM segment is also projected to manifest the highest CAGR of 5.8% from 2023 to 2032. Original Equipment Manufacturers (OEMs) expected to play a significant role in the roadside assistance market by offering their own branded roadside assistance services to vehicle owners. Several OEMs such as Mercedes-Benz roadside assistance, Toyota roadside assistance, Ford roadside assistance, and BMW roadside assistance actively participate in the roadside assistance market by providing their own branded services.
๐๐ฌ๐ข๐-๐๐๐๐ข๐๐ข๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐๐ฒ ๐๐๐๐
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for around one-third of the global roadside assistance market revenue. The increase in road accidents and vehicle fleet expansions, as well as the increased need for mobility solutions, are the contributing factors that drive the growth of the roadside assistance market in the Asia-Pacific region. Europe is expected to witness the fastest CAGR of 5.7% from 2023 to 2032 on account of factors such as surge in awareness among consumers about road safety and rise in demand for roadside assistance services by commercial vehicle owners across major countries including the UK, Germany, France, and others.
๐๐๐๐๐-๐๐ ๐๐๐๐ง๐๐ซ๐ข๐จ
The pandemic reduced the demand for roadside assistance services due to nationwide lockdowns and restriction on mobility. The reduction in vehicle usage directly affected the demand for assistance services.
Post-pandemic, increase in demand for vehicles, mobility, and road traffic has encouraged market players to deliver enhanced roadside assistance services to cater to increase in market demand.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/5736
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Agero
Allianz Global Assistance
Allstate Insurance Company
ARC Europe SA
AutoVantage
Falck A/S
Paragon Motor Club
Roadside Transportation LLC
SOS International
Viking Assistance Group AS
The report provides a detailed analysis of these key players of the global roadside assistance market. These players have adopted strategies such as new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Electric Cargo Bike Market
https://www.alliedmarketresearch.com/electric-cargo-bike-market-A08498
Truck Refrigeration Unit Market
https://www.alliedmarketresearch.com/truck-refrigeration-unit-market
Asia-Pacific Advanced Driver Assistance System (ADAS) Market
https://www.alliedmarketresearch.com/asia-pacific-adas-market
Automotive Tailgate Market
https://www.alliedmarketresearch.com/automotive-tailgate-market
Vehicle Electrification Market
https://www.alliedmarketresearch.com/vehicle-electrification-market
๐๐จ๐ง๐ญ๐๐๐ญ :
David Correa
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Web: www.alliedmarketresearch.com
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๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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