The global road assistance insurance market was valued at $5.9 billion in 2021, and is projected to reach $13.9 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031. According to Allied’s report, the market is driven by recent technological advancements and the rapid launch of new products. The report covers an in-depth study of the latest market trends, major driving factors, top market players, and top investment pockets. A report is an essential tool for new market entrants, stakeholders, and shareholders to make informed decisions about their investments. The study involves an overview of the top market players along with a SWOT analysis of various industry players and Porter’s Five analysis to understand their market position. In addition, the study offers financial analysis, portfolio analysis, and business overview of the organizations that help stakeholders understand the long-term profitability of the industry.
The report involves the latest market developments such as expansions, partnerships, new product launches, and mergers & acquisitions. Moreover, the study includes a detailed analysis of market dynamics such as drivers, restraints, challenges, and opportunities.
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The Road Assistance Insurance market report offers an in-depth study of drivers, restraints, challenges, and opportunities. Thorough information about major drivers of the market helps to understand market dynamics and how they can affect market growth. Furthermore, the restrains and challenges are covered in the report which is essential for market players for investments. The rapid advancements in technologies and rise in demand are major factors that are expected to unlock new opportunities in the future. The market is projected to witness significant growth during the forecast period.
Along with this, the Road Assistance Insurance report includes several tools that establish market growth. The SWOT analysis offers a comprehensive understanding of the major determinants of market growth, which is vital for understanding the upcoming opportunities. In addition, the report includes a Pestel analysis that offers industry-related data and information in tabular format which is vital to understand the positive and negative qualities that can impact the global Road Assistance Insurance market. Moreover, the study includes Porter’s Five analysis to focus on those factors that can benefit the company in the long run.
The Road Assistance Insurance market report provides a detailed analysis of the segmentation of the market. The market is segmented on the basis of coverage, type, demographic and end user. The study covers the analysis of sales, growth rate, revenue, and market shares of each segment during both the historic period and forecast period.
The Covid-19 pandemic had a major impact on the global Road Assistance Insurance market. The prolonged lockdown across European and Asian countries and restriction on international travel disrupted the supply chain and revenue chain. This negatively affected the market.
Top Impacting Factors
- Rise in need for safety and security of supplying activities
- Surge in adoption of road assistance insurance by SMEs in developing countries
- Growing adoption of connected and autonomous vehicles
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KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the data analytics in banking market analysis from 2021 to 2031 to identify the prevailing road assistance insurance market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities in the road assistance insurance market forecast.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the road assistance insurance market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global road assistance insurance market trends, key players, market segments, application areas, and market growth strategies.
Road Assistance Insurance Market Report Highlights
Aspects Details
Market Size By 2031 : USD 13.9 billion
Growth Rate : CAGR of 9.4%
Forecast period : 2021 – 2031
Report Pages: 230
Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Coverage
- Towing
- Jump Start/Pull Start
- Lockout/Replacement Key Service
- Flat Tire
- Fuel Delivery
- Others
Distribution Channel
- Independent Agents/Brokers
- Direct Response
- Banks
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
The Road Assistance Insurance market report covers an analysis of the major market players in the market. The study includes sales, revenue analysis, and production of these companies. The prime market players are Agero, Inc., Allstate Insurance Company, American Express Company, Erie Indemnity Co., GEICO, USAA, IFFCO-Tokio General Insurance Company Limited, Progressive Casualty Insurance Company, Nationwide Mutual Insurance Company, Viking Assistance Group.
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