Connected roadside assistance is also recognized as breakdown cover, designed to help the drivers if vehicle breaks down. Few common roadside-assistance services include battery replacements, jumpstarts, breakdown tows, emergency fuel, tire changes, and key recovery.
As per analysis, “North America 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 North-America connected roadside assistance solutions market include Honk Technologies, Inc., Allianz Worldwide Partners, Best Roadside Service, Good Sam Enterprise, Auto Vantage, Access Roadside Assistance, Bayerische Motoren Werke (BMW) AG, American Automobile Association (AAA), Chubb Limited, Better World Club, National General Insurance, RAC Group (Holdings) Ltd., Medinyx Technologies GmbH, Falck AS, The Allstate Corp., Medinyx Technologies GmbH, The Sun Exchange, Roadside Masters, Verizon Telematics, Inc., Toyota Motor Corporation, Viking Redningstjeneste Topco AS, TVS Auto Assist India Limited, Volkswagen AG and among others. Major companies are engaged in developing a variety of products variants to amplify their market share and increase traction in global marketplace. The players are also engaging in strategic acquisitions including product launches, Research & Development (R&D), application dominance, agreements, product width & breadth, and collaborations to gain the market share.
On the basis of vehicle type, North-America connected roadside assistance solutions market is categorized as commercial and passenger vehicles. Passenger vehicles holds major share in market owing to rise in disposable income. On the basis of solution provider, market is categorized as independent contractors, insurance providers, auto manufacturers and others. On the basis of offering, market is categorized as hardware and software & apps (smart payment, positioning & navigation, real-time notifications, reporting & analytics and others). Additionally, on the basis of service type, market is categorized as fuel delivery, tire replacement, battery jump and towing.
The North-America connected roadside assistance solutions market is driven by increase in adoption of smart devices & smart mobility, followed by growth in technological advancements, increase in government regulations, growth in automotive industries, increase in number of application areas in developed & emerging economies and rise in number of aging vehicles. Apart from this, high cost associated with connected roadside assistance is a major hindering factor for market. Moreover, growth in adoption of artificial intelligence for superior results like increased accuracy, efficiency, system analysis, auto detection, greater area coverage and faster response is a leading opportunity for market.
Based on country wise analysis, the North-America connected roadside assistance solutions market is categorized as U.S, Canada and Mexico. It is estimated that this market will be reached at rapid pace due to growth of cloud computing technology and rise in use of wireless solutions over the forecast period. It is estimated that future of North-America connected roadside assistance solutions market will be bright owing to growth in economy, increase in sales of electric vehicles, huge number of start- ups, and increase in investments in R&D initiatives by the investors coupled with high spending on technology upgrade during the forecast period.
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Ankur Gupta, Head Marketing & Communications