Vehicle Roadside Assistance Market Size to Reach USD 40.1 Billion by 2032 growing at 5.1% CAGR - Exclusive Report by Acumen Research and Consulting
The Vehicle Roadside Assistance market, valued at USD 25.9 Billion in 2023, is projected to surpass USD 40.1 Billion by 2032, indicating a robust CAGR of 5.1%
Vehicle roadside assistance is a service that drivers receive when their vehicles experience mechanical or electrical issues, accidents, or other emergencies while on the road. Towing, battery jump-starts, flat tire replacement, fuel delivery, and lockout assistance are all common services provided. Traditionally, auto clubs or insurance companies provided roadside assistance, but the market has changed with the rise of on-demand services and mobile apps, which provide faster and more effective alternatives.
The rising global vehicle fleet, combined with an increased reliance on personal and commercial transportation, has driven up demand for roadside assistance. Telematics and connected vehicles have improved service capabilities by enabling real-time tracking and preemptive maintenance notifications. As urbanization and vehicle ownership rise, particularly in emerging nations, the demand for dependable, technology-driven roadside assistance is likely to rise significantly.
Vehicle Roadside Assistance Market Statistics
- The global vehicle roadside assistance market generated USD 25.9 billion in 2023 and is expected to grow at a strong CAGR of over 5.1% from 2024 to 2032
- Europe led the market in 2023, contributing USD 9.6 billion in revenue
- The Asia-Pacific region is projected to witness significant growth with a CAGR of 6%
- Towing services held the largest market share by service, representing 33% in 2023
- The passenger vehicle sub-segment dominated in 2023, capturing 70% of the market share
- A discernible trend in the vehicle roadside assistance market is expansion of on-demand and subscription-based roadside services driven by consumer convenience preferences
Access Table Of Content: https://www.acumenresearchandconsulting.com/table-of-content/vehicle-roadside-assistance-market
Vehicle Roadside Assistance Market Dynamics
Growing Reliance on Technology-Driven Services like Mobile Apps for Quicker Assistance Fuels the Vehicle Roadside Assistance Market Value
The increasing reliance on technology-driven services, particularly smartphone apps, is driving the vehicle roadside assistance industry. These apps provide real-time tracking, faster response times, and streamlined service requests to improve the entire customer experience. They offer ease and efficiency through features such as GPS-based location monitoring, rapid communication, and digital payment alternatives. Companies are incorporating AI and telematics into these systems to anticipate problems and deliver support in advance. This shift toward digitalization improves service speed while also increasing market value by recruiting tech-savvy customers. Additionally, app-based services meet changing client expectations for immediacy and transparency.
Expansion into Electric Vehicle (EV) Roadside Services, Such As EV Charging Assistance Offer Significant Vehicle Roadside Assistance Market Opportunity
The growth of electric vehicle (EV) roadside services represents a substantial opportunity for the vehicle roadside support sector. As EV use grows, traditional roadside services are evolving to accommodate the specific needs of these vehicles, particularly mobile EV charging support. EVs require specialized support for concerns such as battery depletion and charging infrastructure access, which regular services frequently do not address. Companies are building mobile charging stations and collaborating with EV manufacturers to provide seamless support. This transition is also creating new revenue streams as EV drivers want more dependable, specialized roadside assistance. The developing EV industry promises consistent demand for these specialized services, hence increasing overall market potential.
Vehicle Roadside Assistance Market Segmentation
The global market for vehicle roadside assistance has been segmented into service, provider, vehicle, and region.
- Service is classified into towing, fuel delivery, jump start/pull start, lockout/ replacement key services, battery assistance, trip routing/ navigational assistance, winch, tire replacement, and other mechanic services
- Provider are divided into motor insurance, independent warranty, auto manufacturer, and commercial vehicle clubs
- Vehicle are categorized into commercial vehicle (light commercial vehicle, heavy commercial vehicle ), and passenger vehicle
- The vehicle roadside assistance market is geographically split into Europe, North America, Latin America, APAC, and the Middle East and Africa
Vehicle Roadside Assistance Market Regional Outlook
In terms of vehicle roadside assistance market analysis, Europe dominates the market due to its advanced road infrastructure, high vehicle ownership rates, and stringent vehicle safety regulations. The region’s strong presence of well-established automotive and insurance companies, along with comprehensive roadside assistance networks, boosts the market. Countries like Germany, the UK, and France lead in services offered, including towing, repairs, and emergency fuel delivery. The widespread use of telematics and connected car solutions also enhances service efficiency.
Asia-Pacific is expected to witness significant growth in the vehicle roadside assistance market due to the region's rapid urbanization and rising vehicle ownership, particularly in countries like China, India, and Japan. For instance, in April 2022, Crayon Motors, an electric mobility startup, has collaborated with Global Assure, a travel, health, and wellness services provider, to provide roadside assistance to its customers in India. The effort aims to promote electric mobility across the country. The growth of on-demand and app-based services, as well as improvements in road infrastructure, are creating new opportunities. Moreover, the development of EVs in the region is expected to spur demand for specialized roadside services.
Vehicle Roadside Assistance Market Players
Vehicle roadside assistance companies profiled in the report include Viking Assistance Group AS, Allianz Partners, Prime Assistance Inc., GEICO, American Automobile Association, Chevrolet, SOS International A/S, National General Motor Club, Best Roadside Service, Liberty Mutual Insurance, Nissan Motor Corporation, ARC Europe, Access Roadside Assistance, Ford Motor Company, Agero, Inc., and Allstate Insurance Company.
Enquire Before Buying https://www.acumenresearchandconsulting.com/inquiry-before-buying/1334
Receive our personalized services and customization by clicking here https://www.acumenresearchandconsulting.com/request-customization/1334
Mr. Richard Johnson
Acumen Research and Consulting
India: +91 8983225533