Vehicle Roadside Assistance Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Service Type (Vehicle Towing, Tyre Replacement, Fuel Delivery, Jump/Pull Start, Key Replacement, Winch, Battery Assistance, Navigational Assistance, Other Services); Service Provider (Automotive OEMs, Insurance Provider, Independent Warranty, Automobile Associations); Vehicle Type (Passenger Vehicles, Commercial Vehicle); and Regions/Country

Published:

Dec-2021

Pages:

214

Table:

44

Figure:

117

Report ID:

UMAU21598

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description


Vehicle Roadside Assistance is expected to witness CAGR growth of more than 4% during the forecast period 2021-2027.
Vehicle breakdowns on the side of the road cause traffic congestion and may put people’s lives in danger. It also wrecks the day of drivers (and passengers) who have to wait for tow trucks for hours, wasting valuable time and disturbing their schedule. 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. Such information can be utilized to determine the root cause of a breakdown and the appropriate course of action, as well as to encourage faster participation to improve service quality and the driver’s experience. For Instance, CAA is the behemoth of roadside assistance in Canada, with over 35,000 towing cars. Basic membership for short-distance travelers normally starts at around US$75 per year and includes up to five emergency calls and towing up to 10 kilometers each call. The Plus membership costs roughly $120 and normally allows you to tow up to 200 kilometers.

Comparison of top roadside assistance services provider, 2021

Insights Presented in the Report

“Amongst Service Type, Vehicle Towing segment would witness significant growth”

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. However, Battery and alternator problems, flat tyres, electrical issues, overheating, and mechanical failure relating to the engine, transmission, or brakes are the other most typical breakdown causes.

“Amongst Service Provider, Automotive OEMs segment dominates the market in 2020”

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.

“Amongst Vehicle Type, Passenger Vehicle segment dominates the market”

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. However, growing demand for connected vehicles, is expected to drive the demand for Roadside Assistance service for commercials vehicles segment.

“Asia-Pacific is expected to witness significant growth during the forecast period”

For a better understanding of the demand of Vehicle Roadside Assistance, the market is analyzed for major 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 is expected to witness significant growth during the forecast period. 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.

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  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

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1.1.Market Definitions
1.2.Limitation
1.3.Stake Holders
1.4.Currency used in Report
2.1.Research Process of the Vehicle Roadside Assistance Market
2.2.Research Methodology of the Vehicle Roadside Assistance Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Vehicle Roadside Assistance Market Study
3.       MARKET SYNOPSIS
4.       EXECUTIVE SUMMARY

 

5VEHICLE ROADSIDE ASSISTANCE MARKET COVID-19 IMPACT
6VEHICLE ROADSIDE ASSISTANCE MARKET REVENUE (USD BN), 2019-2027F
7.1.Vehicle Towing
7.2.Tyre Replacement
7.3.Fuel Delivery
7.4.Jump/Pull Start
7.5.Key Replacement
7.6.Winch
7.7.Battery Assistance
7.8.Navigational Assistance
7.9.Other Services
8.1.Automotive OEMs
8.2.Insurance Provider
8.3.Independent Warranty
8.4.Automobile Associations
9.1.Passenger Vehicles
9.2.Commercial Vehicles
10.1.North America
 10.1.1.US
 10.1.2.Canada
 10.1.3.Rest of North America
10.2.Europe 
 10.2.1.Germany
 10.2.2.UK
 10.2.3.France
 10.2.4.Italy
 10.2.5.Rest of Europe
10.3.Asia-Pacific
 10.3.1.China
 10.3.2.Japan
 10.3.3.India
 10.3.4.Australia
 10.3.5.Rest of Asia-Pacific
10.4.Rest of World
11.1.Market Drivers
11.2.Market Challenges
11.3.Impact Analysis
12VEHICLE ROADSIDE ASSISTANCE MARKET OPPORTUNITIES
13VEHICLE ROADSIDE ASSISTANCE MARKET TRENDS
14LEGAL & REGULATORY FRAMEWORK
15.1.Demand Side Analysis
15.2.Supply Side Analysis
16VALUE CHAIN ANALYSIS
17.1.Competitive Landscape
 17.1.1.Company Shares, By Revenue
18.1.Good Sam Enterprise, LLC
18.2.Best Roadside Service
18.3.Auto Vantage
18.4.Allianz Global Assistance
18.5.AA plc
18.6.Allstate Insurance Company
18.7.Agero, Inc.
18.8.National General Insurance
18.9.HONK Technologies
18.10.Arabian Automobile Association
19DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the Vehicle Roadside Assistance were the three major steps undertaken to create and analyze the demand of the Roadside Assistance service globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Vehicle Roadside Assistance through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Vehicle Roadside Assistance, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are service type, service provider, vehicle type. Further regional level analyses were conducted to evaluate the overall demand of Vehicle Roadside Assistance in global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing demand for vehicle connectivity solutions and growing demand for vehicle safety & assistance solutions such as cloud-based solutions for early risk detection etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the demand of Vehicle Roadside Assistance across the major regions globally
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Vehicle Roadside Assistance Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Vehicle Roadside Assistance market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of service type, service provider, vehicle type, and region.

The main objective of the Vehicle Roadside Assistance Market Study

The current & future market trends of the Vehicle Roadside Assistance Market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Vehicle Roadside Assistance in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments of the industry
  • Segments in the study include Service type, Service providers, Vehicle type, and Regions
  • Defined analysis of the regulatory framework for the Vehicle Roadside Assistance industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
  • Major regions analyzed in the report include 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. Define and analyze the competitive landscape of the Vehicle Roadside Assistance sector and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry