Vehicle Roadside Assistance is expected to witness CAGR growth of more than 4% during the forecast period 2021-2027. Roadside assistance is an optional extra to drivers’ personal auto insurance that provides much-needed assistance with flat tyres, gasoline deficit, battery failure, towing, and other issues. In addition, Connected automobiles generate enormous amounts of vehicle status and usage data, which can give roadside assistance service providers with critical vehicle information such as location, engine status, error codes, fuel level, tyre pressure, and more.
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Car data can also be used by roadside assistance providers to form relationships with insurance companies. From the driver’s perspective, the motorist consents to the usage of vehicle data to resolve the issue that prevents them from driving. During a one-year period, Highways England, a government-owned business that operates the UK’s main roadways, recorded 224,225 car breakdowns on Britain’s biggest routes (April 2018 and March 2019). Every hour, about 25 automobiles pass by. Over 5,000 calls for fleet roadside support are received every day, according to a top business roadside assistance firm in the United States. This equates to 35,000 calls per week, 147,000 calls per month, and 1.76 million calls per year.
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Based on Service type, the Vehicle Roadside Assistance Market is segmented into Vehicle Towing, Tyre Replacement, Fuel Delivery, Jump/Pull Start, Key Replacement, Winch, Battery Assistance, Navigational Assistance, Other Services. Currently, Vehicle Towing segment is the most popular service involved in the Vehicle Roadside Assistance Market. Based on Service provider, the Vehicle Roadside Assistance Market is bifurcated into Automotive OEMs, Insurance Provider, Independent Warranty, Automobile Associations. In 2020, Automotive OEMs were the largest provider of Vehicle Roadside Assistance service. However, with the popularization of user-based insurance, Insurance Provider are expected to witness significant growth in the market.
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Based on Vehicle type, the market is segmented into Passenger Vehicles, Commercial Vehicle. Currently, demand for Vehicle Roadside Assistance is majorly demand for Passenger Vehicles segment. As per the data from AIPSO (US), in 2015, 203 million private passenger vehicles were insured in the US excluding Texas, compared to 198 million in 2014. The above stated figure includes cars insured by private auto insurers as well as those insured in the shared or residual markets set up by states to cover hard-to-insure risks.
For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and Rest of World. Europe dominates the market in 2020. However, Asia-Pacific with increasing vehicle production, paired with rising sales of luxury vehicle in the region is expected to drive the market. Some of the major players operating in the market include Good Sam Enterprise, LLC, Best Roadside Service, Auto Vantage, Allianz Global Assistance, AA plc, Allstate Insurance Company, Agero, Inc., National General Insurance, HONK Technologies, Arabian Automobile Association etc.
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Vehicle Roadside Assistance Market Segmentation
Market Insight, by Service Type
· Vehicle Towing
· Tyre Replacement
· Fuel Delivery
· Jump/Pull Start
· Key Replacement
· Winch
· Battery Assistance
· Navigational Assistance
· Other Services
Market Insight, by Service Provider
· Automotive OEMs
· Insurance Provider
· Independent Warranty
· Automobile Associations
Market Insight, by Vehicle Type
· Passenger Vehicles
· Commercial Vehicles
Market Insight, by Region
· North America Vehicle Roadside Assistance Market
o US
o Canada
o Rest of North America
· Europe Vehicle Roadside Assistance Market
o Germany
o UK
o France
o Italy
o Rest of Europe
· Asia-Pacific Vehicle Roadside Assistance Market
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
· Rest of World Vehicle Roadside Assistance Market
Top Company Profiles
· Good Sam Enterprise, LLC
· Best Roadside Service
· Auto Vantage
· Allianz Global Assistance
· AA plc
· Allstate Insurance Company
· Agero, Inc.
· National General Insurance
· HONK Technologies
· Arabian Automobile Association