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Road Assistance Insurance Market By Vehicle Type, By Coverage, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 230 Pages
  • January 2023
  • Region: Global
  • Allied Market Research
  • ID: 5751100
Description Jump to:

Roadside assistance is an additional benefit of comprehensive auto insurance that helps customers if the car breaks down in the middle of a trip and leaves them stranded on the highway. By paying an extra fee, one may obtain car roadside assistance. Further, a modest increase in premium for car insurance does not increase the costs immensely, however, it boosts the benefits and enhances the coverage of the car insurance policy.

The rise in demand for roadside assistance cover among consumers owing to unexpected vehicle failures and mishappenings is fueling the growth of the road assistance insurance market. In addition, it can cover repairs to the vehicle, as well as medical expenses and personal liability for injuries to other people or their property. However, coverage failures due to hidden clauses in the policies are the major factor hindering the growth of the market. On the contrary, an increase in reliability issues with the adoption of electric cars is expected to fuel the road assistance insurance market growth. Further, the increase in purchasing power of consumers to pay for premium services over car insurance is expected to create lucrative opportunities for the road assistance insurance market growth in the upcoming years.

The road assistance insurance market is segmented into vehicle type, coverage, distribution channel, and region. By vehicle type, the market is differentiated into passenger vehicles and commercial vehicles. Depending on the coverage, it is fragmented into towing, jump start/pull start, lockout/replacement key service, flat tire, fuel delivery, and others. The distribution channel segment is projected into insurance agents/brokers, direct response, banks, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The road assistance insurance market analysis includes top companies operating in the market such as Agero, Inc., Allstate Insurance Company, American Express Company, Erie Indemnity Co., GEICO, IFFCO-Tokio General Insurance Company Limited, Nationwide Mutual Insurance Company, Progressive Casualty Insurance Company, USAA, and Viking Assistance Group. These players have adopted various Strategies to increase their market penetration and strengthen their position in the road assistance insurance industry.

Key Market Segments

By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

By Coverage

  • Towing
  • Jump Start/Pull Start
  • Lockout/Replacement Key Service
  • Flat Tire
  • Fuel Delivery

By Distribution Channel

  • Independent Agents/Brokers
  • Direct Response
  • Banks

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

Key Market Players

  • 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

Table of Contents

CHAPTER 1: INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Market dynamics
3.4.1.Drivers
3.4.1.1. Rise in the need for safety and security of supplying activities
3.4.1.2. Surge in the adoption of road assistance insurance by SMEs in developing countries
3.4.2.Restraints
3.4.2.1. Lack of awareness among consumers regarding the benefits offered by the road assistance insurance policy
3.4.2.2. Coverage failures due to hidden clauses in the policies
3.4.3.Opportunities
3.4.3.1. Growing adoption of connected and autonomous vehicles
3.5.COVID-19 Impact Analysis on the market
CHAPTER 4: ROAD ASSISTANCE INSURANCE MARKET, BY VEHICLE TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2. Passenger Vehicle
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3. Commercial Vehicle
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
CHAPTER 5: ROAD ASSISTANCE INSURANCE MARKET, BY COVERAGE
5.1 Overview
5.1.1 Market size and forecast
5.2. Towing
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3. Jump Start/Pull Start
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4. Lockout/Replacement Key Service
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
5.5. Flat Tire
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market share analysis by country
5.6. Fuel Delivery
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market share analysis by country
5.7. Others
5.7.1 Key market trends, growth factors and opportunities
5.7.2 Market size and forecast, by region
5.7.3 Market share analysis by country
CHAPTER 6: ROAD ASSISTANCE INSURANCE MARKET, BY DISTRIBUTION CHANNEL
6.1 Overview
6.1.1 Market size and forecast
6.2. Independent Agents/Brokers
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3. Direct Response
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
6.4. Banks
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market share analysis by country
6.5. Others
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market share analysis by country
CHAPTER 7: ROAD ASSISTANCE INSURANCE MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Vehicle Type
7.2.3 North America Market size and forecast, by Coverage
7.2.4 North America Market size and forecast, by Distribution Channel
7.2.5 North America Market size and forecast, by country
7.2.5.1 U.S.
7.2.5.1.1 Key market trends, growth factors and opportunities
7.2.5.1.2 Market size and forecast, by Vehicle Type
7.2.5.1.3 Market size and forecast, by Coverage
7.2.5.1.4 Market size and forecast, by Distribution Channel
7.2.5.2 Canada
7.2.5.2.1 Key market trends, growth factors and opportunities
7.2.5.2.2 Market size and forecast, by Vehicle Type
7.2.5.2.3 Market size and forecast, by Coverage
7.2.5.2.4 Market size and forecast, by Distribution Channel
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Vehicle Type
7.3.3 Europe Market size and forecast, by Coverage
7.3.4 Europe Market size and forecast, by Distribution Channel
7.3.5 Europe Market size and forecast, by country
7.3.5.1 UK
7.3.5.1.1 Key market trends, growth factors and opportunities
7.3.5.1.2 Market size and forecast, by Vehicle Type
7.3.5.1.3 Market size and forecast, by Coverage
7.3.5.1.4 Market size and forecast, by Distribution Channel
7.3.5.2 Germany
7.3.5.2.1 Key market trends, growth factors and opportunities
7.3.5.2.2 Market size and forecast, by Vehicle Type
7.3.5.2.3 Market size and forecast, by Coverage
7.3.5.2.4 Market size and forecast, by Distribution Channel
7.3.5.3 France
7.3.5.3.1 Key market trends, growth factors and opportunities
7.3.5.3.2 Market size and forecast, by Vehicle Type
7.3.5.3.3 Market size and forecast, by Coverage
7.3.5.3.4 Market size and forecast, by Distribution Channel
7.3.5.4 Italy
7.3.5.4.1 Key market trends, growth factors and opportunities
7.3.5.4.2 Market size and forecast, by Vehicle Type
7.3.5.4.3 Market size and forecast, by Coverage
7.3.5.4.4 Market size and forecast, by Distribution Channel
7.3.5.5 Spain
7.3.5.5.1 Key market trends, growth factors and opportunities
7.3.5.5.2 Market size and forecast, by Vehicle Type
7.3.5.5.3 Market size and forecast, by Coverage
7.3.5.5.4 Market size and forecast, by Distribution Channel
7.3.5.6 Rest of Europe
7.3.5.6.1 Key market trends, growth factors and opportunities
7.3.5.6.2 Market size and forecast, by Vehicle Type
7.3.5.6.3 Market size and forecast, by Coverage
7.3.5.6.4 Market size and forecast, by Distribution Channel
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Vehicle Type
7.4.3 Asia-Pacific Market size and forecast, by Coverage
7.4.4 Asia-Pacific Market size and forecast, by Distribution Channel
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Key market trends, growth factors and opportunities
7.4.5.1.2 Market size and forecast, by Vehicle Type
7.4.5.1.3 Market size and forecast, by Coverage
7.4.5.1.4 Market size and forecast, by Distribution Channel
7.4.5.2 Japan
7.4.5.2.1 Key market trends, growth factors and opportunities
7.4.5.2.2 Market size and forecast, by Vehicle Type
7.4.5.2.3 Market size and forecast, by Coverage
7.4.5.2.4 Market size and forecast, by Distribution Channel
7.4.5.3 India
7.4.5.3.1 Key market trends, growth factors and opportunities
7.4.5.3.2 Market size and forecast, by Vehicle Type
7.4.5.3.3 Market size and forecast, by Coverage
7.4.5.3.4 Market size and forecast, by Distribution Channel
7.4.5.4 Australia
7.4.5.4.1 Key market trends, growth factors and opportunities
7.4.5.4.2 Market size and forecast, by Vehicle Type
7.4.5.4.3 Market size and forecast, by Coverage
7.4.5.4.4 Market size and forecast, by Distribution Channel
7.4.5.5 South Korea
7.4.5.5.1 Key market trends, growth factors and opportunities
7.4.5.5.2 Market size and forecast, by Vehicle Type
7.4.5.5.3 Market size and forecast, by Coverage
7.4.5.5.4 Market size and forecast, by Distribution Channel
7.4.5.6 Rest of Asia-Pacific
7.4.5.6.1 Key market trends, growth factors and opportunities
7.4.5.6.2 Market size and forecast, by Vehicle Type
7.4.5.6.3 Market size and forecast, by Coverage
7.4.5.6.4 Market size and forecast, by Distribution Channel
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Vehicle Type
7.5.3 LAMEA Market size and forecast, by Coverage
7.5.4 LAMEA Market size and forecast, by Distribution Channel
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Latin America
7.5.5.1.1 Key market trends, growth factors and opportunities
7.5.5.1.2 Market size and forecast, by Vehicle Type
7.5.5.1.3 Market size and forecast, by Coverage
7.5.5.1.4 Market size and forecast, by Distribution Channel
7.5.5.2 Middle East
7.5.5.2.1 Key market trends, growth factors and opportunities
7.5.5.2.2 Market size and forecast, by Vehicle Type
7.5.5.2.3 Market size and forecast, by Coverage
7.5.5.2.4 Market size and forecast, by Distribution Channel
7.5.5.3 Africa
7.5.5.3.1 Key market trends, growth factors and opportunities
7.5.5.3.2 Market size and forecast, by Vehicle Type
7.5.5.3.3 Market size and forecast, by Coverage
7.5.5.3.4 Market size and forecast, by Distribution Channel
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
9.1 Agero, Inc.
9.1.1 Company overview
9.1.2 Key Executives
9.1.3 Company snapshot
9.1.4 Operating business segments
9.1.5 Product portfolio
9.1.6 Business performance
9.1.7 Key strategic moves and developments
9.2 Allstate Insurance Company
9.2.1 Company overview
9.2.2 Key Executives
9.2.3 Company snapshot
9.2.4 Operating business segments
9.2.5 Product portfolio
9.2.6 Business performance
9.2.7 Key strategic moves and developments
9.3 American Express Company
9.3.1 Company overview
9.3.2 Key Executives
9.3.3 Company snapshot
9.3.4 Operating business segments
9.3.5 Product portfolio
9.3.6 Business performance
9.3.7 Key strategic moves and developments
9.4 Erie Indemnity Co.
9.4.1 Company overview
9.4.2 Key Executives
9.4.3 Company snapshot
9.4.4 Operating business segments
9.4.5 Product portfolio
9.4.6 Business performance
9.4.7 Key strategic moves and developments
9.5 GEICO
9.5.1 Company overview
9.5.2 Key Executives
9.5.3 Company snapshot
9.5.4 Operating business segments
9.5.5 Product portfolio
9.5.6 Business performance
9.5.7 Key strategic moves and developments
9.6 USAA
9.6.1 Company overview
9.6.2 Key Executives
9.6.3 Company snapshot
9.6.4 Operating business segments
9.6.5 Product portfolio
9.6.6 Business performance
9.6.7 Key strategic moves and developments
9.7 IFFCO-Tokio General Insurance Company Limited
9.7.1 Company overview
9.7.2 Key Executives
9.7.3 Company snapshot
9.7.4 Operating business segments
9.7.5 Product portfolio
9.7.6 Business performance
9.7.7 Key strategic moves and developments
9.8 Progressive Casualty Insurance Company
9.8.1 Company overview
9.8.2 Key Executives
9.8.3 Company snapshot
9.8.4 Operating business segments
9.8.5 Product portfolio
9.8.6 Business performance
9.8.7 Key strategic moves and developments
9.9 Nationwide Mutual Insurance Company
9.9.1 Company overview
9.9.2 Key Executives
9.9.3 Company snapshot
9.9.4 Operating business segments
9.9.5 Product portfolio
9.9.6 Business performance
9.9.7 Key strategic moves and developments
9.10 Viking Assistance Group
9.10.1 Company overview
9.10.2 Key Executives
9.10.3 Company snapshot
9.10.4 Operating business segments
9.10.5 Product portfolio
9.10.6 Business performance
9.10.7 Key strategic moves and developments
List of Tables
Table 1. Global Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 2. Road Assistance Insurance Market for Passenger Vehicle, by Region, 2021-2031 (Revenue, $Million)
Table 3. Road Assistance Insurance Market for Commercial Vehicle, by Region, 2021-2031 (Revenue, $Million)
Table 4. Global Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 5. Road Assistance Insurance Market for Towing, by Region, 2021-2031 (Revenue, $Million)
Table 6. Road Assistance Insurance Market for Jump Start/Pull Start, by Region, 2021-2031 (Revenue, $Million)
Table 7. Road Assistance Insurance Market for Lockout/Replacement Key Service, by Region, 2021-2031 (Revenue, $Million)
Table 8. Road Assistance Insurance Market for Flat Tire, by Region, 2021-2031 (Revenue, $Million)
Table 9. Road Assistance Insurance Market for Fuel Delivery, by Region, 2021-2031 (Revenue, $Million)
Table 10. Road Assistance Insurance Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 11. Global Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 12. Road Assistance Insurance Market for Independent Agents/Brokers, by Region, 2021-2031 (Revenue, $Million)
Table 13. Road Assistance Insurance Market for Direct Response, by Region, 2021-2031 (Revenue, $Million)
Table 14. Road Assistance Insurance Market for Banks, by Region, 2021-2031 (Revenue, $Million)
Table 15. Road Assistance Insurance Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 16. Road Assistance Insurance Market, by Region, 2021-2031 (Revenue, $Million)
Table 17. North America Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 18. North America Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 19. North America Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 20. North America Road Assistance Insurance Market, by Country, 2021-2031 (Revenue, $Million)
Table 21. U.S. Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 22. U.S. Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 23. U.S. Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 24. Canada Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 25. Canada Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 26. Canada Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 27. Europe Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 28. Europe Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 29. Europe Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 30. Europe Road Assistance Insurance Market, by Country, 2021-2031 (Revenue, $Million)
Table 31. UK Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 32. UK Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 33. UK Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 34. Germany Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 35. Germany Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 36. Germany Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 37. France Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 38. France Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 39. France Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 40. Italy Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 41. Italy Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 42. Italy Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 43. Spain Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 44. Spain Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 45. Spain Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 46. Rest of Europe Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 47. Rest of Europe Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 48. Rest of Europe Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 49. Asia-Pacific Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 50. Asia-Pacific Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 51. Asia-Pacific Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 52. Asia-Pacific Road Assistance Insurance Market, by Country, 2021-2031 (Revenue, $Million)
Table 53. China Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 54. China Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 55. China Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 56. Japan Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 57. Japan Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 58. Japan Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 59. India Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 60. India Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 61. India Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 62. Australia Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 63. Australia Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 64. Australia Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 65. South Korea Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 66. South Korea Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 67. South Korea Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 68. Rest of Asia-Pacific Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 69. Rest of Asia-Pacific Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 70. Rest of Asia-Pacific Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 71. LAMEA Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 72. LAMEA Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 73. LAMEA Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 74. LAMEA Road Assistance Insurance Market, by Country, 2021-2031 (Revenue, $Million)
Table 75. Latin America Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 76. Latin America Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 77. Latin America Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 78. Middle East Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 79. Middle East Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 80. Middle East Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 81. Africa Road Assistance Insurance Market, by Vehicle Type, 2021-2031 (Revenue, $Million)
Table 82. Africa Road Assistance Insurance Market, by Coverage, 2021-2031 (Revenue, $Million)
Table 83. Africa Road Assistance Insurance Market, by Distribution Channel, 2021-2031 (Revenue, $Million)
Table 84. Agero, Inc.: Key Executives
Table 85. Agero, Inc.: Company Snapshot
Table 86. Agero, Inc.: Operating Segments
Table 87. Agero, Inc.: Product Portfolio
Table 88. Agero, Inc.: Net Sales
Table 89. Agero, Inc.: Key Strategies
Table 90. Allstate Insurance Company: Key Executives
Table 91. Allstate Insurance Company: Company Snapshot
Table 92. Allstate Insurance Company: Operating Segments
Table 93. Allstate Insurance Company: Product Portfolio
Table 94. Allstate Insurance Company: Net Sales
Table 95. Allstate Insurance Company: Key Strategies
Table 96. American Express Company: Key Executives
Table 97. American Express Company: Company Snapshot
Table 98. American Express Company: Operating Segments
Table 99. American Express Company: Product Portfolio
Table 100. American Express Company: Net Sales
Table 101. American Express Company: Key Strategies
Table 102. Erie Indemnity Co.: Key Executives
Table 103. Erie Indemnity Co.: Company Snapshot
Table 104. Erie Indemnity Co.: Operating Segments
Table 105. Erie Indemnity Co.: Product Portfolio
Table 106. Erie Indemnity Co.: Net Sales
Table 107. Erie Indemnity Co.: Key Strategies
Table 108. Geico: Key Executives
Table 109. Geico: Company Snapshot
Table 110. Geico: Operating Segments
Table 111. Geico: Product Portfolio
Table 112. Geico: Net Sales
Table 113. Geico: Key Strategies
Table 114. Usaa: Key Executives
Table 115. Usaa: Company Snapshot
Table 116. Usaa: Operating Segments
Table 117. Usaa: Product Portfolio
Table 118. Usaa: Net Sales
Table 119. Usaa: Key Strategies
Table 120. Iffco-Tokio General Insurance Company Limited: Key Executives
Table 121. Iffco-Tokio General Insurance Company Limited: Company Snapshot
Table 122. Iffco-Tokio General Insurance Company Limited: Operating Segments
Table 123. Iffco-Tokio General Insurance Company Limited: Product Portfolio
Table 124. Iffco-Tokio General Insurance Company Limited: Net Sales
Table 125. Iffco-Tokio General Insurance Company Limited: Key Strategies
Table 126. Progressive Casualty Insurance Company: Key Executives
Table 127. Progressive Casualty Insurance Company: Company Snapshot
Table 128. Progressive Casualty Insurance Company: Operating Segments
Table 129. Progressive Casualty Insurance Company: Product Portfolio
Table 130. Progressive Casualty Insurance Company: Net Sales
Table 131. Progressive Casualty Insurance Company: Key Strategies
Table 132. Nationwide Mutual Insurance Company: Key Executives
Table 133. Nationwide Mutual Insurance Company: Company Snapshot
Table 134. Nationwide Mutual Insurance Company: Operating Segments
Table 135. Nationwide Mutual Insurance Company: Product Portfolio
Table 136. Nationwide Mutual Insurance Company: Net Sales
Table 137. Nationwide Mutual Insurance Company: Key Strategies
Table 138. Viking Assistance Group: Key Executives
Table 139. Viking Assistance Group: Company Snapshot
Table 140. Viking Assistance Group: Operating Segments
Table 141. Viking Assistance Group: Product Portfolio
Table 142. Viking Assistance Group: Net Sales
Table 143. Viking Assistance Group: Key Strategies
List of Figures
Figure 1. Segmentation of Road Assistance Insurance Market,2021-2031
Figure 2. Road Assistance Insurance Market,2021-2031
Figure 3. Top Investment Pockets, by Region
Figure 4. Porter Five-1
Figure 5. Porter Five-2
Figure 6. Porter Five-3
Figure 7. Porter Five-4
Figure 8. Porter Five-5
Figure 9. Road Assistance Insurance Market:Drivers, Restraints and Opportunities
Figure 10. Road Assistance Insurance Market,By Vehicle Type,2021(%)
Figure 11. Comparative Share Analysis of Passenger Vehicle Road Assistance Insurance Market, 2021 and 2031(%)
Figure 12. Comparative Share Analysis of Commercial Vehicle Road Assistance Insurance Market, 2021 and 2031(%)
Figure 13. Road Assistance Insurance Market,By Coverage,2021(%)
Figure 14. Comparative Share Analysis of Towing Road Assistance Insurance Market, 2021 and 2031(%)
Figure 15. Comparative Share Analysis of Jump Start/Pull Start Road Assistance Insurance Market, 2021 and 2031(%)
Figure 16. Comparative Share Analysis of Lockout/Replacement Key Service Road Assistance Insurance Market, 2021 and 2031(%)
Figure 17. Comparative Share Analysis of Flat Tire Road Assistance Insurance Market, 2021 and 2031(%)
Figure 18. Comparative Share Analysis of Fuel Delivery Road Assistance Insurance Market, 2021 and 2031(%)
Figure 19. Comparative Share Analysis of Others Road Assistance Insurance Market, 2021 and 2031(%)
Figure 20. Road Assistance Insurance Market,By Distribution Channel,2021(%)
Figure 21. Comparative Share Analysis of Independent Agents/Brokers Road Assistance Insurance Market, 2021 and 2031(%)
Figure 22. Comparative Share Analysis of Direct Response Road Assistance Insurance Market, 2021 and 2031(%)
Figure 23. Comparative Share Analysis of Banks Road Assistance Insurance Market, 2021 and 2031(%)
Figure 24. Comparative Share Analysis of Others Road Assistance Insurance Market, 2021 and 2031(%)
Figure 25. Road Assistance Insurance Market by Region,2021
Figure 26. U.S. Road Assistance Insurance Market,2021-2031($Million)
Figure 27. Canada Road Assistance Insurance Market,2021-2031($Million)
Figure 28. UK Road Assistance Insurance Market,2021-2031($Million)
Figure 29. Germany Road Assistance Insurance Market,2021-2031($Million)
Figure 30. France Road Assistance Insurance Market,2021-2031($Million)
Figure 31. Italy Road Assistance Insurance Market,2021-2031($Million)
Figure 32. Spain Road Assistance Insurance Market,2021-2031($Million)
Figure 33. Rest of Europe Road Assistance Insurance Market,2021-2031($Million)
Figure 34. China Road Assistance Insurance Market,2021-2031($Million)
Figure 35. Japan Road Assistance Insurance Market,2021-2031($Million)
Figure 36. India Road Assistance Insurance Market,2021-2031($Million)
Figure 37. Australia Road Assistance Insurance Market,2021-2031($Million)
Figure 38. South Korea Road Assistance Insurance Market,2021-2031($Million)
Figure 39. Rest of Asia-Pacific Road Assistance Insurance Market,2021-2031($Million)
Figure 40. Latin America Road Assistance Insurance Market,2021-2031($Million)
Figure 41. Middle East Road Assistance Insurance Market,2021-2031($Million)
Figure 42. Africa Road Assistance Insurance Market,2021-2031($Million)
Figure 43. Top Winning Strategies, by Year
Figure 44. Top Winning Strategies, by Development
Figure 45. Top Winning Strategies, by Company
Figure 46. Product Mapping of Top 10 Players
Figure 47. Competitive Dashboard
Figure 48. Competitive Heatmap of Top 10 Key Players
Figure 49. Top Player Positioning, 2021
Figure 50. Agero, Inc..: Net Sales ($Million)
Figure 51. Allstate Insurance Company.: Net Sales ($Million)
Figure 52. American Express Company.: Net Sales ($Million)
Figure 53. Erie Indemnity Co..: Net Sales ($Million)
Figure 54. Geico.: Net Sales ($Million)
Figure 55. Usaa.: Net Sales ($Million)
Figure 56. Iffco-Tokio General Insurance Company Limited.: Net Sales ($Million)
Figure 57. Progressive Casualty Insurance Company.: Net Sales ($Million)
Figure 58. Nationwide Mutual Insurance Company.: Net Sales ($Million)
Figure 59. Viking Assistance Group.: Net Sales ($Million)

Executive Summary

According to the report titled, 'Road Assistance Insurance Market,' the road assistance insurance market was valued at $5.9 billion in 2021, and is estimated to reach $13.9 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031.

The Road Assistance Insurance Market is likely to experience a significant growth rate of 9.4% from 2022-2031 owing to increasing market demand from the automobile sector.

Roadside assistance is an additional benefit of comprehensive auto insurance that helps customers if the car breaks down in the middle of a trip and leaves them stranded on the highway. By paying an extra fee, one may obtain car roadside assistance. Further, a modest increase in premium for car insurance does not increase the costs immensely, however, it boosts the benefits and enhances the coverage of the car insurance policy.

Key factors driving the growth of the Road assistance insurance market include a rise in demand for roadside assistance coverage among consumers owing to unexpected vehicle failures and mishappenings. In addition, it can cover repairs to the vehicle, as well as medical expenses and personal liability for injuries to other people or their property.

The market also offers growth opportunities to the key players in the market. Several governments have taken steps to encourage the use of hybrid and electric vehicles, such as granting subsidies and tax rebates, in order to reduce carbon emissions. As a result, hybrid and electric vehicle sales have increased, necessitating the expansion of vehicle roadside help services. Thus, this factor is expected to provide lucrative opportunities for road assistance insurance market to grow in upcoming years.

The road assistance insurance market is segmented into vehicle type, coverage, distribution channel, and region. By vehicle type, the market is differentiated into passenger vehicles and commercial vehicle. Depending on coverage, it is fragmented into towing, jump start/pull start, lockout/replacement key service, flat tire, fuel delivery, and others. The distribution channel segment is projected into insurance agents/brokers, direct response, banks, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the study include Agero, Inc., Allstate Insurance Company, American Express Company, Erie Indemnity Co., GEICO, IFFCO-Tokio General Insurance Company Limited, Nationwide Mutual Insurance Company, Progressive Casualty Insurance Company, USAA, and Viking Assistance Group. The players in the market have been actively engaged in the adoption of various Strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market.

Key Market Insights

By distribution channel, the independent agents/brokers segment accounted for the highest road assistance insurance market share in terms of revenue in 2021.

Based on vehicle type, the indirect commercial vehicle segment is expected to exhibit the fastest growth rate during the forecast period.

Region-wise, Europe generated the highest revenue in 2021 in the road assistance insurance market size.

Companies Mentioned

  • 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

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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