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% 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 a small fraction of the segment revenues globally. According to fact, MR, 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.
Denne historien er fra December 27, 2024-utgaven av Financial Express Kochi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 27, 2024-utgaven av Financial Express Kochi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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
Byju Raveendran: From boom to bust
BY EARLY 2024, these issues culminated in severe consequences.
UltraTech to buy stake in Star Cement
BOTH THE PLAYERS are snapping up small cement players to consolidate their positions and achieve their targeted growth ahead of time.
IIFL Home Finance expects 15% AUM growth in FY25
Looking at stock market listing, but no timeline yet
Jewellery units lose sheen on weak Rupee
The demand in East Asia, however, has been tepid.
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.
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.
Squid Game stocks tank
A LESS-THAN-PERFECT debut for the new season of Netflix's blockbuster series
