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Vehicle Roadside Assistance Market Trends

  • Report ID: GMI11838
  • Published Date: Oct 2024
  • Report Format: PDF

Vehicle Roadside Assistance Market Trends

AI improves roadside assistance by streamlining vehicle dispatching. AI algorithms analyze real-time traffic data, customer locations, and service needs to efficiently dispatch the nearest service provider. This reduces response times and provides tailored assistance. GPS technology allows precise tracking, helping service providers locate both the distressed vehicle and the nearest tow truck. This geolocation capability aids route planning and enhances communication between providers and customers.
 

Real-time tracking increases customer satisfaction by providing accurate arrival time updates. The IoT enhances connectivity between vehicles and roadside assistance platforms. IoT devices enable vehicles to share their operational status, allowing service providers to anticipate and address needs proactively. This connectivity lets users request assistance directly through their automotive infotainment system, creating a smoother customer experience.
 

The limited number of service providers restricts the growth of the roadside assistance market. In many areas, especially rural ones, there are not enough providers to offer timely assistance. This shortage can lead to longer waiting times, reducing customer satisfaction and potentially discouraging vehicle owners from using these services. Additionally, this uneven service distribution means urban areas have better options, while rural customers often feel neglected. These disparities affect customer experience and overall market growth. If reliable help isn't easily accessible, potential customers in underserved regions may not see the value in roadside assistance plans.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of vehicle roadside assistance reached USD 26.3 billion in 2023 and is set to grow at a 4.4% CAGR from 2024 to 2032, driven by increasing vehicle ownership.

The passenger cars segment held 65% of the market share in 2023, led by the high number of passenger vehicles on the road and increased use for daily commutes post-COVID-19.

The U.K. market accounted for 30% of the revenue share in 2023, bolstered by a strong network of automotive services and high demand for roadside assistance.

Major players in the industry include AA PLC, Agero, Allstate Insurance, American Automobile Association, ARC, GEICO, Liberty Mutual Insurance, MAPFRE-ASISTENCIA, National General Motor Club, and Nissan Motor.

Vehicle Roadside Assistance Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 160
  • Countries covered: 22
  • Pages: 200
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