RAISE YOUR HAND if being deserted in the middle of nowhere after a vehicle breakdown is your worst nightmare. Only a driver/rider who's dealt with that situation knows what a relief it is to have reliable roadside assistance when your journey is brought to an abrupt halt. Yes, quick help is always welcome, but the vehicle service or repair segment is still highly unorganized in our country, thanks to the affordability and reach of hole-in-the-wall service providers that dominate the rural and semi-urban landscape.
That is not to underestimate the massive disruption one is seeing in the assistance (RSA) sector now, driven by branded service providers, technological advancements, and the burgeoning electric vehicle (EV) ecosystem. Plus, as data from PolicyBazaar shows, 60% of motor insurance buyers also prefer a roadside assistance cover.
But the thing is, while India is the world's third-largest passenger vehicle market after China and the United States, the organized RSA market accounts for a small fraction of the segment revenues globally. According to FactMR, the global roadside assistance market was valued at $25 billion in 2023, and is expected to reach $40 billion at the end of 2033, growing at a CAGR of 4.8% between 2023 and 2033.
A big part of this growth can be attributed to rising vehicle ownership and an increase in long-distance travel.
この記事は Financial Express Mumbai の December 27, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Financial Express Mumbai の December 27, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Smart Cities Mission: School enrolment up 22%
STEPS TAKEN UNDER the Smart Cities Mission have led to a 22% increase in school enrolment in 19 cities and improved real-time tracking of criminal activities, according to two studies by the Indian Institute of Management, Bangalore.
South steals the spotlight
Hits from Hindi film industry in post-Covid era have been fewer and far between
Does India want BGT win or Rohit back in form?
In case openers KL Rahul or Yashasvi Jaiswal had been struggling, Rohit's elevation would have made sense. But with his form, the change of batting order wasn't really warranted
Oil rises 1%, heads for weekly gain
OIL ROSE ABOUT 1% on Friday and was set for a weekly gain in low trading volume ahead of year-end, backed by expectations of lower US crude stockpiles and hopes of a stimulus-driven economic recovery in China.
IIFL Home Finance expects 15% AUM growth in FY25
● Looking at stock market listing, but no timeline yet
Squid Game stocks tank
A LESS-THAN-PERFECT debut for the new season of Netflix's blockbuster series
Richard Parsons, who rescued Time Warner, Citigroup, dies
RICHARD PARSONS, THE executive dubbed \"Captain Emergency\" for his record of stabilizing ailing companies such as AOL Time Warner, Citigroup and Dime Savings Bank of New York, has died. He was 76.
Russia warns Trump against resumption of nuclear testing
RUSSIA'S POINT MAN for arms control cautioned Donald Trump's incoming administration on Friday against resuming nuclear testing, saying Moscow would keep its own options open amid what he said was Washington's \"extremely hostile\" stance.
Nissan Shares Decline Most Since August
NISSAN MOTOR'S SHARES declined the most since August's market rout, amid volatility as investor focus shifts to the terms of the carmaker's planned deal with Honda Motors.
US Airline Stocks Beat Market
A RECORD YEAR FOR travel in the US is pushing airline stocks to a soaring annual outperformance, and the prospect of sustained earnings power points to a bullish outlook for 2025.
