The report titled “Connected Roadside Assistance Solution Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the connected roadside assistance solution market in terms of market segmentation by Mechanic Service, by Vehicles, by Service Type and by region.
Connected Roadside Assistance Solution Market Segmented on the basis of mechanic service auto manufacturer, motor insurance and independent warranty; by Vehicles into personal vehicle and commercial vehicle; by Service type into towing, tire replacement and fuel delivery. The Connected Roadside Assistance Solution market is anticipated to record a CAGR of 18.2% over the forecast period i.e. 2019-2027.
Rising Demand for Personal Vehicles
Connected roadside assistance is a service that assists the driver of a vehicle in case of a breakdown. Vehicle roadside assistance is an initiative by auto service providers to sort minor mechanical and electrical repairs to make a vehicle drivable again.
With the prominent rise in the automotive sector and aging of the vehicles that can more easily experience a breakdown on the roads is resulting in a rise in demand for vehicle roadside assistance solutions. The rise in advancements like artificial intelligence, accurate GPS systems and in-build vehicle monitoring systems have enabled service providers minimize the overall time taken to reach the location provide the necessary assistance. The increase in application-driven services have minimized the vehicle roadside assistance service response period.
In Europe, the cold climatic conditions have led to frequent vehicle breakdowns on the roadways and this has prompted in the greater need for the vehicle roadside assistance service in the region. Additionally, easy availability of roadside automobile support service providers in the region is expected to further boost the demand for vehicle roadside assistance in the European region.
In North America, the market is anticipated to gain a significant traction over the estimated period in the region. Furthermore, the high number of old and outdated vehicles and easy availability of the roadside vehicle support services on highways is expected to boost the vehicle roadside assistance market trends in North America.
However, high cost of service during the pay per use service acts as the key restraining factor due to high cost of labor, service charge rates and due to difficulty in restoration along with external factors like traffic jams, service providers, weather, location also acts as the growth restraining factors are expected to operate as a key restraint to the growth of Connected Roadside Assistance Solution Market over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the connected roadside assistance solution market which includes company profiling of Allstate Insurance Company, Best Roadside Service, Roadside Masters, Chubb Limited, Auto Vantage, Better World Club, TVS Auto Assist India Limited, Access Roadside Assistance, National General Insurance, Allianz Worldwide Partners, Paragon Motor Club, Good Sam Enterprise, Arabian Automobile Association and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the connected roadside assistance solution market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.