Increased Prevalence of Ageing Vehicles to Drive Vehicle Roadside Assistance Market

Roadside vehicle assistance refers to a service that assist driver of a vehicle when a crash takes place. Such roadside assistance for vehicles makes an offering of on-site support, comprising lock-out, jump-start battery, loss of keys, support of flat-tires, fuel delivery service, vehicle towing, and small mechanical and electrical repair work. In a nutshell, it provides basic support in the event of a car crash. Professionals offering car services make efforts to sort out insignificant electrical and mechanical repairs and associated adjustments so as to make sure that the car can be driven once again. Growing importance of such services is estimated to trigger growth of the global vehicle roadside assistance market over the timeframe of analysis, from 2020 to 2030.

In addition to that, vehicles aged over 10 years are more likely to come across such accidents and end up needing services of vehicle road assistance. Usually roadside services are usually the first to arrive when such cars break down on roads and fix the issue, and mostly such repairs are done on the spot. In addition to that, growing popularity of app-driven services has resulted in the expansion of the roadside assistance network and it offers augmented offerings of various services. It also removes the complexity and stress related to such incidents, which is likely to play an important in the expansion of the global vehicle roadside assistance market in the years to come.

In accordance with the latest analysis by Fact.MR, it is expected that the global vehicle roadside assistance market is estimated to register a growth rate of around 3% CAGR over the timeframe of analysis, from 2020 to 2030. It is estimated that the passenger vehicle segment of all other segments is likely to observe rapid growth during the projection tenure. Rapid progress made in the automotive sector is expected to widen scope of the global vehicle roadside assistance market in the years to come.

Adverse Climatic Conditions and Technological Progress to Accentuate Demand in the Market

The expansion of the global vehicle roadside assistance market is mainly inlfuenced by the rising incidences of vehicle breakdowns on roads and increased prevalence of ageing vehicles. Ageing vehicles witness many electrical as well as mechanical issues and collapse quite often when on road. This factor is likely to augur well for the market in the near future. In addition to that, rising demand for solutions pertaining to vehicle connectivity is likely to emerge as another growth factor of the market over the forecast period.

With the growing popularity of application-based service installations, there has been a reduction in the time taken for roadside services, which is likely to drive the demand for vehicle roadside assistance in the years to come. Extreme and harsh weather conditions leave adverse impact on millions of drivers across the globe. Cold and wet climate results in electromechanical reactions in the batteries of vehicles. Snowy and icy terrain in many countries often leads to treacherous driving conditions, which leads to accidents in many cases. Adverse climatic conditions are estimated to trigger growth of the global vehicle roadside assistance market over the period of analysis, from 2020 to 2030.

Increased Sale of Vehicles and High Disposable Income to Drive the Market in Europe

Europe is estimated to dominate the global vehicle roadside assistance market over the period of assessment. Growth of the market in Europe is likely to be driven by presence of a large number of on-road vehicles in the continent. Increase in per capita income, higher standard of living, and increased sale of vehicles is expected to propel growth of the market in Europe in the near future.