26-Nov-2020 | Zion Market Research
As per experts at Zion Market Research, the global vehicle roadside assistance market will expand and reach more than USD 4.7 billion from 2019 to 2025. The research report by Zion Market Research offers a detailed study of the market by geography (APAC, MEA, Europe, South America, and North America) and type (commercial vehicle and passenger vehicle). In addition to this, the report studies the competitive landscape of the market and provides data on various market players such as Falck AS, AA Plc, The Allstate Corp., RAC Group (Holdings) Ltd., and Viking Redningstjeneste Topco AS.
Rising Requirement For Electric And Hybrid Vehicles To Influence The Growth Of Global Vehicle Roadside Assistance Market
The rising requirement for electric and hybrid vehicles is one of the major reasons that that will influence the growth of global vehicle roadside assistance market. Governments of various nations have been taking initiatives to decarbonize the environment. This includes offering tax rebates and subsidies to encourage the employment of electric and hybrid cars. As a result, the sales of electric and hybrid vehicles have elevated, which have increased the requirement for updated vehicle roadside assistance offerings. The sales of EVs in developed nations such as Japan and the US have significantly increased.
In addition to this, upcoming trends of the vehicle roadside assistance market such as the requirement for vehicle connectivity solutions will also power the growth of the market. Automobile makers have been equipping cars with enhanced systems. These systems transfer and collect data related to cars’ conditions to fleet owners, service centers, and insurance suppliers. This will make it simple for drivers to transfer real-time highway notifications and alerts to vendors of vehicle roadside assistance. These reasons will elevate the requirement for vehicle connectivity solutions, which is one of the major factors responsible for the development of the growth the global market. Consequently, the vehicle roadside assistance market will clock a CAGR of almost 4% by the end of 2025.
Passenger Vehicles Grabbed The Biggest Share Of The Global Market In 2019 And The Segment Will Maintain Its Position In The Forecast Period
Passenger vehicles grabbed the biggest share of the global market in 2019 and the segment will maintain its position in the forecast period. The buyout of passenger vehicles is rising in nations such as India, Brazil, the UAE, China, South Africa, and Qatar due to the rising disposable revenue. As a result, there has been an increment in spending in vehicle insurance and associated offerings such as vehicle roadside assistance. Owners of luxury car are readily availing rapid premium services. In addition to this, the rising sales of EVs will also boost the requirement for roadside assistance offerings.
This report offers a study of the competitive landscape of the market and provides data on the goods provided by different players. This will assist clients in enhancing their market status. It also offers a detailed study of the upcoming trends and challenges in the vehicle roadside assistance market and how they will impact its development. This will assist players in making effective plans to leverage the upcoming growth opportunities in the market.
Browse the full “Vehicle Roadside Assistance Industry Market, by Service (Towing, Fuel Delivery, Battery Assistance, Replacement Key, Jump Start, Winch, and Trip Routing), by Vehicle Type (Passenger Vehicle and Commercial Vehicle), by Service Provider (Auto Manufacturer, Independent Warranty, Motor Insurance, and Automotive Clubs): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/vehicle-roadside-assistance-market
The global Vehicle Roadside Assistance Market is segmented as follows:
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