The global towing software market was estimated at US$ 447.8 Million in 2021 and is expected to secure US$ 471.4 Million by 2022, exhibiting a Y-o-Y growth rate of 5.3%. The market is projected to procure US$ 766.8 Million by 2032, expanding at a CAGR of 5% during the forecast period from 2022 to 2032.
The global towing software market is expected to represent sturdy growth in the forecast period owing to the increasing demand for advanced towing solutions across the globe.
| Attributes | Details |
|---|---|
| Global Towing Software Market CAGR (2022 to 2032) | 5% |
| Global Towing Software Market (2032) | US$ 766.8 Million |
| Global Towing Software Market Attraction | Elevated demand for advanced towing solutions has compelled key players to add new features to the existing software, thereby expanding the market size for towing software. |
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The global towing software market is experiencing moderate growth owing to the swelling demand for advanced towing solutions. Moreover, the upward trend of vehicle automation and the increasing number of vehicles in use are also contributing to the growth of this market.
The presence of a well-established automotive sector and the growing investment in transportation infrastructure are also encouraging the growth of this market. Besides, the growing implementation of tow truck software by large enterprises and SMEs globally is another key aspect driving the growth of this market.
Tech giants are compelled to digitally transform their business models and are capitalizing heavily on digital platforms to get value-producing opportunities and stay ahead of other players along with improving the consistency and quality of their services. From artificial intelligence, augmented reality, and virtual reality to the internet of things, the mounting number of internet-connected gadgets across the globe is contributing to the development of the global Towing Software market.
In the past two to three decades, the towing software market has witnessed a drastic revolution followed by several technological advances and innovations. With the arrival of new towing software in the market, the established players are facing cutting-edge competition from the newcomers.
To survive, prominent software brands like a beacon, trackers, and VTS systems are launching advanced features and are collaborating to expand their market grounds. Throughout the year, Telematics or integrated GPS has become the fastest-growing brand by offering intelligent dispatch and interactive drivers, along with real-time performance data.
The adoption of cloud-based towing management software like towbook for towing companies is facilitating dispatching, impounds, invoicing, and more. This software can now be accessed from anywhere through mobile phones and iPhones. Similar to tow book, other applications like Housecall Pro, mHelpDesk, jobber, and others are offering lucrative growth prospects for towing software across the globe.
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Despite multiple applications in Large and SMEs, there comes along few market limitations which restrict the market expansion of Towing Software. Some of them include the dearth of skilled professionals and the absence of awareness about the towing software in the market.
Besides, the rising cases of cyber threats are one of the prominent restraining factors which increase privacy concerns among individuals. The high cost of towing software is also a significant factor that put forward challenges in the growth of the market.
Demand for Cloud-based Towing Software to Remain Prominent
According to Future Market Insights, the cloud-based towing software segment is estimated to be most sought after, expanding at a CAGR of 4.9% throughout the forecast period. Cloud-based software is an internet-based program. It’s an impressive substitute for the conventional way of installing and running applications on our servers or desktop computers.
Running programs in this manner proposes numerous discrete benefits, including the lower cost which eradicates the necessity of expensive hardware as the user already has everything they require- an internet-enabled system. This cloud-based software can be accessed from any location and from any device which facilitates automatic updating.
In a nutshell, cloud-based towing software is an IT resource that is offered over the Internet. These services can come in the form of public clouds, private clouds, and hybrid clouds, which integration of public and private clouds. Prominent cloud service providers are Google Cloud Platform, Amazon Web Services, Microsoft Azure, IBM Cloud, Oracle, and others.
VTS Cloud technology provides mobility, flexibility, simplicity, and security, at an affordable price. Web-based towing software redefined. To improve the market performance, the company has added some new features to VTS Classic such as Cloud Lite and Cloud Classic. While the Cloud Lite is suitable for small & medium enterprises, the Cloud Classic is regardless of size.
Towing Software to be Deployed Most across SMEs
By application, SMEs are prominent users of tow truck software. The software assists these businesses to supervise their fleet, dispatching drivers, and tracking vehicles in real time. Additionally, the software also offers information on fuel proficiency and vehicle diagnostics. This permits industrialists to make well-versed decisions about their operations. Besides, the usage of tow truck software can aid businesses to reduce fuel costs and maintenance expenses. Therefore, there is a mounting demand for tow truck software among SMEs globally.
According to the Future Market Insights report, the SME segment is likely to grow at a 6.4% CAGR. This growth is backed by rising government initiatives, including digital campaigns such as social media marketing, video marketing, and search engine marketing. For example, in May 2020, Singapore's Info-Communications Media Development Authority (IMDA) launched a public consultation process to form a policy framework to enable the deployment of 5G networks. These efforts are elevating the application of towing software in small & medium enterprises across the globe.
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The USA held the largest share in 2021 and witnessed moderate growth during the historic outlook. A recently published report by Future Market Insights reveals that the USA towing software market is projected to surpass US$ 272.1 Million by 2032, documenting a CAGR of 4.7%. The market growth is attributed to the soaring demand for cloud-based tow truck software and the upward trend in vehicle automation. Additionally, the country has a well-established automotive sector, which is further expanding the towing software market.
Factors such as an improvement in operational efficiency owing to remote data accessibility and enhanced communication with the usage of connected navigation technology are likely to augment the growth of the USA towing software market. Moreover, there has been amplified demand for roadside assistance, expected to offer affluent growth prospects to the USA towing software market.
In May 2022, Traxero North America announced combining the towing software providers under one company. This shift in the industry of integrated solutions will empower towing and roadside assistance businesses to save time and money.
The Chinese tow truck software market witnessed the fastest growth in recent years. The prominent drivers for this growth are the increasing number of vehicles in usage and the snowballing demand for sophisticated towing solutions. Additionally, the governing bodies are investing heftily in transportation infrastructure, which is postulating support to the towing software market.
As per the Future Market Insights report, China captures the majority share in the Asia Pacific towing software market, contributing nearly 33% to the market revenue. The Chinese market for towing software is forecasted to expand at a CAGR of 4.3% to exceed US$ 55 Million by the end of 2032.
In July 2021, CGG Countries GeoSoftware and Amazon Web Services (AWS) extended their partnership in the global E&P industry to China (NWCD working for AWS China Ningxia region, Sinnet working for AWS China Beijing Region). GeoSoftware 11.0, CGG’s recently presented portfolio of reservoir characterization and petrophysical interpretation software solutions, is presently available in AWS China (Ningxia) region for the Chinese E&P industry.
| Countries | Estimated CAGR |
|---|---|
| USA | 4.7% |
| United Kingdom | 4% |
| China | 4.3% |
| Japan | 3.4% |
| India | 4.1% |
Key players in the global towing software market include TOPS, Clearplan, Dispatch Anywhere, ProTow, and Tow Administrator, among others. Some of the recent developments in the global towing software market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5% from 2022 to 2032 |
| Market Value in 2022 | US$ 471.4 Million |
| Market Value in 2032 | US$ 766.8 Million |
| Base Year for Estimation | 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in US$ Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The global towing software market is estimated to reach US$ 776.8 Million by 2032.
The global towing software market was estimated at US$ 447.8 Million in 2021.
The USA is projected to lead the market, procuring US$ 272.1 Million while expanding at a CAGR of 4.7% until 2032.
According to Future Market Insights, China is anticipated to grow at a 4.3% CAGR with respect to towing software deployment.
The cloud-based segment is predicted to lead the market, with a CAGR of 4.9%.
By application, towing software for SMEs will remain dominant, growing at a 6.4% CAGR.
TOPS, Clearplan, Dispatch Anywhere, ProTow, and Tow Administrator, among others, are some of the key participants in the market.
1. Executive Summary | Towing Software Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background and Foundation Data Points
4.1. Global Market (US$ Million)
4.2. Market Opportunity Assessment (US$ Million)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in Optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Global Protective Coatings Market Growth
4.5.3. Adoption Rate, By Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032
6.1. Historical Market Analysis, 2015 to 2021
6.2. Current and Future Market Projections, 2022 to 2032
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ Million) Analysis, 2015 to 2021
7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Type
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By Type, 2015 to 2021
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Type, 2022 to 2032
8.3.1. Cloud-Based
8.3.2. Web-Based
8.4. Market Attractiveness Analysis By Type
9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Application
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) Analysis By Application, 2015 to 2021
9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Application, 2022 to 2032
9.3.1. Large Enterprises
9.3.2. Small & Medium Size Enterprises
9.4. Market Attractiveness Analysis By Application
10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region
10.1. Introduction
10.2. Historical Market Size (US$ Million) Analysis By Region, 2015 to 2021
10.3. Current Market Size (US$ Million) & Analysis and Forecast By Region, 2022 to 2032
10.3.1. North America
10.3.2. Latin America
10.3.3. Europe
10.3.4. Asia Pacific
10.3.5. Middle East and Africa
10.4. Market Attractiveness Analysis By Region
11. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
11.1. Introduction
11.2. Pricing Analysis
11.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
11.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
11.4.1. By Country
11.4.1.1. USA
11.4.1.2. Canada
11.4.1.3. Rest of North America
11.4.2. By Type
11.4.3. By Application
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Type
11.5.3. By Application
12. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
12.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
12.4.1. By Country
12.4.1.1. Brazil
12.4.1.2. Mexico
12.4.1.3. Rest of Latin America
12.4.2. By Type
12.4.3. By Application
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Type
12.5.3. By Application
13. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
13.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. Germany
13.4.1.2. France
13.4.1.3. United Kingdom
13.4.1.4. Italy
13.4.1.5. Benelux
13.4.1.6. Nordic Countries
13.4.1.7. Rest of Europe
13.4.2. By Type
13.4.3. By Application
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Type
13.5.3. By Application
14. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
14.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. China
14.4.1.2. Japan
14.4.1.3. South Korea
14.4.1.4. Rest of Asia Pacific
14.4.2. By Type
14.4.3. By Application
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Type
14.5.3. By Application
15. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2015 to 2021
15.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
15.4.1. By Country
15.4.1.1. GCC Countries
15.4.1.2. South Africa
15.4.1.3. Turkey
15.4.1.4. Rest of Middle East and Africa
15.4.2. By Type
15.4.3. By Application
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Type
15.5.3. By Application
16. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.1.1. Market Value Proportion Analysis, By Key Countries
16.1.2. Global Vs. Country Growth Comparison
16.2. USA Market Analysis
16.2.1. Value Proportion Analysis by Market Taxonomy
16.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.2.2.1. By Type
16.2.2.2. By Application
16.3. Canada Market Analysis
16.3.1. Value Proportion Analysis by Market Taxonomy
16.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.3.2.1. By Type
16.3.2.2. By Application
16.4. Mexico Market Analysis
16.4.1. Value Proportion Analysis by Market Taxonomy
16.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.4.2.1. By Type
16.4.2.2. By Application
16.5. Brazil Market Analysis
16.5.1. Value Proportion Analysis by Market Taxonomy
16.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.5.2.1. By Type
16.5.2.2. By Application
16.6. Germany Market Analysis
16.6.1. Value Proportion Analysis by Market Taxonomy
16.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.6.2.1. By Type
16.6.2.2. By Application
16.7. France Market Analysis
16.7.1. Value Proportion Analysis by Market Taxonomy
16.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.7.2.1. By Type
16.7.2.2. By Application
16.8. Italy Market Analysis
16.8.1. Value Proportion Analysis by Market Taxonomy
16.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.8.2.1. By Type
16.8.2.2. By Application
16.9. BENELUX Market Analysis
16.9.1. Value Proportion Analysis by Market Taxonomy
16.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.9.2.1. By Type
16.9.2.2. By Application
16.10. United Kingdom Market Analysis
16.10.1. Value Proportion Analysis by Market Taxonomy
16.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.10.2.1. By Type
16.10.2.2. By Application
16.11. Nordic Countries Market Analysis
16.11.1. Value Proportion Analysis by Market Taxonomy
16.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.11.2.1. By Type
16.11.2.2. By Application
16.12. China Market Analysis
16.12.1. Value Proportion Analysis by Market Taxonomy
16.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.12.2.1. By Type
16.12.2.2. By Application
16.13. Japan Market Analysis
16.13.1. Value Proportion Analysis by Market Taxonomy
16.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.13.2.1. By Type
16.13.2.2. By Application
16.14. South Korea Market Analysis
16.14.1. Value Proportion Analysis by Market Taxonomy
16.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.14.2.1. By Type
16.14.2.2. By Application
16.15. GCC Countries Market Analysis
16.15.1. Value Proportion Analysis by Market Taxonomy
16.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.15.2.1. By Type
16.15.2.2. By Application
16.16. South Africa Market Analysis
16.16.1. Value Proportion Analysis by Market Taxonomy
16.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.16.2.1. By Type
16.16.2.2. By Application
16.17. Turkey Market Analysis
16.17.1. Value Proportion Analysis by Market Taxonomy
16.17.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
16.17.2.1. By Type
16.17.2.2. By Application
16.17.3. Competition Landscape and Player Concentration in the Country
17. Market Structure Analysis
17.1. Market Analysis by Tier of Companies
17.2. Market Concentration
17.3. Market Share Analysis of Top Players
17.4. Market Presence Analysis
17.4.1. By Regional footprint of Players
17.4.2. Product footprint by Players
18. Competition Analysis
18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Competition Deep Dive
18.3.1. TOPS
18.3.1.1. Overview
18.3.1.2. Product Portfolio
18.3.1.3. Sales Footprint
18.3.1.4. Strategy Overview
18.3.2. Clearplan
18.3.2.1. Overview
18.3.2.2. Product Portfolio
18.3.2.3. Sales Footprint
18.3.2.4. Strategy Overview
18.3.3. Dispatch Anywhere
18.3.3.1. Overview
18.3.3.2. Product Portfolio
18.3.3.3. Sales Footprint
18.3.3.4. Strategy Overview
18.3.4. ProTow
18.3.4.1. Overview
18.3.4.2. Product Portfolio
18.3.4.3. Sales Footprint
18.3.4.4. Strategy Overview
18.3.5. Tow Administrator
18.3.5.1. Overview
18.3.5.2. Product Portfolio
18.3.5.3. Sales Footprint
18.3.5.4. Strategy Overview
18.3.6. Towbook
18.3.6.1. Overview
18.3.6.2. Product Portfolio
18.3.6.3. Sales Footprint
18.3.6.4. Strategy Overview
18.3.7. DATOW
18.3.7.1. Overview
18.3.7.2. Product Portfolio
18.3.7.3. Sales Footprint
18.3.7.4. Strategy Overview
18.3.8. Roadside
18.3.8.1. Overview
18.3.8.2. Product Portfolio
18.3.8.3. Sales Footprint
18.3.8.4. Strategy Overview
18.3.9. TowManager
18.3.9.1. Overview
18.3.9.2. Product Portfolio
18.3.9.3. Sales Footprint
18.3.9.4. Strategy Overview
18.3.10. TowSoft
18.3.10.1. Overview
18.3.10.2. Product Portfolio
18.3.10.3. Sales Footprint
18.3.10.4. Strategy Overview
18.3.11. FleetPride Inc.
18.3.11.1. Overview
18.3.11.2. Product Portfolio
18.3.11.3. Sales Footprint
18.3.11.4. Strategy Overview
18.3.12. Force Technology
18.3.12.1. Overview
18.3.12.2. Product Portfolio
18.3.12.3. Sales Footprint
18.3.12.4. Strategy Overview
19. Assumptions and Acronyms Used
20. Research Methodology
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Towing Software Market
