Recent report published by research nester titled “Connected Roadside Assistance Solutions Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the connected roadside assistance solutions market in terms of market segmentation by components, by OEM, software & third party apps and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The connected roadside assistance solutions market is segmented by components, OEM software & third-party apps and region. Based on components, the market is segmented into original equipment manufacturers (OEM) hardware, OEM software and third-party apps. Based on OEM software and third-party apps, the market is segmented into real- time notifications, reporting and analytics, payment software, navigation software and others. The connected roadside assistance solutions market is anticipated to record a CAGR of around 18.2% during the forecast period i.e. 2019-2027. The market is segmented by components and OEM software & third-party apps, out of which, the payment software sub- segment is anticipated to have significant growth on account of presence of various small and large-scale automobile manufacturers.
North America is expected to grow moderately owing to large number of start- ups and higher investments in R & D initiatives by the investors. Asia Pacific is expected to grow significantly on the back of presence of small- and large-scale automobile manufacturers and adoptions of technologies such as automobile cloud-based solutions and services, investments in digitization and economic growth.
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Dropping cost of smart devices and sensors
With everyday innovations in technology, the cost of smart devices and sensors have been dropping which has increased the chance of its usage in different industries, which is expected to boost the growth of the connected roadside assistance solutions market.
Adoption of high- speed networking technologies
Due to rise in tech-savy population, there is an increase in adoption of high- speed technologies to access various functions at their fingertips which is expected to boost the growth of the connected roadside assistance solutions market.
However, lack of awareness among local mechanics and service garages is expected to act as a key restraint towards the growth of connected roadside assistance solutions market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the connected roadside assistance solutions market which includes company profiling of Toyota Motor Corporation, Bayerische Motiren Work (BMW) AG, Ford Motor Company, Volkswagen AG, Verizon Telematics Inc., Medinyx and Honk. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the connected roadside assistance solutions market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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