The connected roadside assistance solution is a service that helps vehicle drivers in the case of a breakdown. Roadside assistance provides on-site assistance to the vehicle owners & drivers with the basic support that includes on-site repair of minor electrical & mechanical support, battery jump start, towing of the vehicle, lockout service, and flat tire support and fuel delivery service. It is an initiative taken by auto-service providers to sort the minor mechanical & electrical repairs to adjust the components in order to make vehicle drivable again.
As per analysis, “Europe Connected Roadside Assistance Solution Market 2020-2026 by Offering, Vehicle Type, Service Type, Solution Provider, and Country: Trend Forecast and Growth Opportunity” the key companies operating in the Europe connected roadside assistance solution market include Bayerische Motoren Werke (BMW) AG, TVS Auto Assist India Limited,Allianz Worldwide Partners, Auto Vantage, Access Roadside Assistance, American Automobile Association (AAA), Chubb Limited, Best Roadside Service, Ford Motor Company, Better World Club, Honk Technologies, Inc., Falck AS, Good Sam Enterprise, Paragon Motor Club, Medinyx Technologies GmbH, RAC Group (Holdings) Ltd., National General Insurance, The Sun Exchange, The Allstate Corp., Viking Redningstjeneste Topco AS., Toyota Motor Corporation, Verizon Telematics, Inc., Volkswagen AG and among others.
Based on offerings, Europe connected roadside assistance solution market is segmented into software & apps and hardware. Software & apps include real-time notifications, reporting & analytics, smart payment, positioning & navigation, and other software & apps. Based on vehicle type, market is bifurcated into commercial and passenger vehicles. Based on service type, market is segmented into tire replacement, towing, fuel delivery, battery jump and other service types. In addition, based on solution provider, market is segmented into insurance providers, auto manufacturers, independent contractors and others.
The Europe connected roadside assistance solution market is driven by rise in use of wireless solutions, followed by growth in automotive sector, increase in the number of aging vehicles, growth in demand for real-time communication systems and increase in business performance & capacity. However, lack of awareness and complexity in the connected roadside assistance solution integration with an old vehicle may impact the market. Moreover, growth of cloud computing technology is a key opportunity for market.
Based on country-wise analysis, the Europe region is segmented into Spain, UK, Germany, Russia, France, Italy and rest of the world. Increase in number of on-road vehicles and rise in the sales across European region has led to increase in the number of vehicle-breakdowns, which in turn drives the demand for vehicle-roadside assistance services. Presence of best vehicle manufacturers as well as availability of roadside assistance service providers is also responsible for growth of the vehicle roadside assistance market in Europe. Change in standard of living, increase in per capita income, rise in sales of premium vehicles and increase in consumer preference for lavishness are fueling the vehicle roadside assistance market in Europe. It is estimated that future of the Europe connected roadside assistance solution market will be optimistic on account of reduction in vehicle loan interest rates coupled with rise in per capita income of consumers during the forecast period.
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Ankur Gupta, Head Marketing & Communications