Vehicle Roadside Assistance Market was at US$ 23.6 Bn in 2021 and is growing to approx US$ 34.8 Bn by 2030, with a CAGR growth of 4.1% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, August 29, 2022 /EINPresswire.com/ -- According to the study published by Custom Market Insights, The Global Vehicle Roadside Assistance Market was estimated at USD 23.6 billion in 2021 and is anticipated to reach around USD 34.8 billion by 2030, growing at a CAGR of roughly 4.1% between 2022 and 2030.

The global Vehicle Roadside Assistance Industry Market research report offers an in-depth analysis of the global market size, which is further segmented into regional and country-level market size, and segmentation market growth. Also, it provides the market share, sales analysis, competitive landscape, impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations.

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Vehicle Roadside Assistance Market: Overview

Post-COVID-19 pandemic, the travel industry is again witnessing very high growth globally. With the growth in the travel industry, the demand for Vehicle Roadside Assistance Industry is also growing proportionally. Vehicle Roadside Assistance Industry websites and applications offer a convenient platform to customers, allowing them to have a wide variety of options available as per their requirements and budget. With increased mobility and the need for a better platform to address emergency situations digitalization is more likely to bridge the communication gap and improve the turnaround time during a roadside assistance call.

Many vendors possess their websites and have dedicated social media pages to offer and display quality information about the services to their consumers. Therefore, in the post-pandemic world, with the surge in vehicle sales, the need for roadside assistance is much more likely to exert a positive influence in the end-user market.

Vehicle Roadside Assistance Market: Growth Drivers

The vehicle roadside assistance industry witnessed huge growth in terms of technological transformation. The demand for roadside connectivity has grown in the past few years and is mainly driven by the improvements to communication technology in the auto industry. Automated solutions, attractive offers, and a high commitment to service are some of the factors driving the market growth.

The use of chatbots, automated surveys and improved customer service is projected to continue as a positive scenario for consumers. As consumers prefer convenience to avail of roadside assistance, insurance providers and third-party vendors are likely to cater to consumer demand.

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Key Insights:

A) As per the analysis shared by our research analyst, the Vehicle Roadside Assistance Market is estimated to grow annually at a CAGR of around 4.1% over the forecast period (2022-2030).
B) In terms of revenue, the Vehicle Roadside Assistance Market size was valued at around USD 23.6 billion in 2021 and is anticipated to reach around USD 34.8 billion by 2030, growing at a CAGR of 4.1% till and 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on vehicle type, the passenger vehicle segment was predicted to show maximum market share in the year 2021.
D) Based on service, the towing segment was the leading revenue-generating category in 2021.
E) On the basis of geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Press Release For Vehicle Roadside Assistance Market: https://www.custommarketinsights.com/press-releases/global-vehicle-roadside-assistance-market/

Regional Landscape

The Vehicle Roadside Assistance Market is dominated by the Asia Pacific region, followed by North America. The market for Vehicle Roadside Assistance Industry in North America is witnessing growth attributed to the increasing demand for roadside assistance in the countryside. Moreover, the rise in competition among the key players remains one of the crucial factors to the regional market growth. The presence of consumers with significant spending for roadside assistance, and the need for mandated insurance coverage in the U.S. is also pivotal to the market developments.

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Key Players

Viking Assistance Group
Best Roadside Service
AutoVantage
Paragom Motorclub
Roadside Masters
ARC Europe SA
Agero
Allianz Global Assistance
National Motor Club
SOS International A/S

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The Vehicle Roadside Assistance Market is segmented as follows:

By Vehicle Type

Passenger Vehicle
Commercial Vehicle

By Service

Tire Replacement
Winch Battery Replacement
Towing
Jump Start
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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Take a Look at our other Reports:
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Global Nanocoatings Market 2022 – 2030: https://www.custommarketinsights.com/report/nanocoatings-market/
Global Lawn Mowers Market 2022 – 2030: https://www.custommarketinsights.com/report/lawn-mowers-market/
Global Lawn & Garden Consumable Market 2022 – 2030: https://www.custommarketinsights.com/report/lawn-garden-consumable-market/

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