The global towing software market was estimated at USD 447.8 Million in 2021 and is expected to secure USD 471.4 Million by 2022, exhibiting a Y-o-Y growth rate of 5.3%. The market is projected to procure USD 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 (2022) | USD 471.4 Million |
| Global Towing Software Market (2032) | USD 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. |
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.
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.
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 USD 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 USD 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 | USD 471.4 Million |
| Market Value in 2032 | USD 766.8 Million |
| Base Year for Estimation | 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD 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 | Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Nordics, BENELUX, China, Japan, South Korea, GCC Countries, South Africa |
| Key Companies Profiled | TOPS; Clearplan; Dispatch Anywhere; ProTow; Tow Administrator; TowBook; DATOW; Roadside; TownManager; TowSoft; FleetPride Inc.; Force Technology |
| Customization | Available Upon Request |
Table 1: Global Market Value (US$ Million), By Type, 2015 to 2021
Table 2: Global Market Value (US$ Million), By Type, 2022 to 2032
Table 3: Global Market Value (US$ Million), By Application, 2015 to 2021
Table 4: Global Market Value (US$ Million), By Application, 2022 to 2032
Table 5: Global Market, By Region, 2015 to 2021
Table 6: Global Market, By Region, 2022 to 2032
Table 7: North America Market Value (US$ Million), By Type, 2015 to 2021
Table 8: North America Market Value (US$ Million), By Type, 2022 to 2032
Table 9: North America Market Value (US$ Million), By Application, 2015 to 2021
Table 10: North America Market Value (US$ Million), By Application, 2022 to 2032
Table 11: North America Market, By Country, 2015 to 2021
Table 12: North America Market, By Country, 2022 to 2032
Table 13: Latin America Market Value (US$ Million), By Type, 2015 to 2021
Table 14: Latin America Market Value (US$ Million), By Type, 2022 to 2032
Table 15: Latin America Market Value (US$ Million), By Application, 2015 to 2021
Table 16: Latin America Market Value (US$ Million), By Application, 2022 to 2032
Table 17: Latin America Market, By Country, 2015 to 2021
Table 18: Latin America Market, By Country, 2022 to 2032
Table 19: Europe Market Value (US$ Million), By Type, 2015 to 2021
Table 20: Europe Market Value (US$ Million), By Type, 2022 to 2032
Table 21: Europe Market Value (US$ Million), By Application, 2015 to 2021
Table 22: Europe Market Value (US$ Million), By Application, 2022 to 2032
Table 23: Europe Market, By Country, 2015 to 2021
Table 24: Europe Market, By Country, 2022 to 2032
Table 25: Asia Pacific Market Value (US$ Million), By Type, 2015 to 2021
Table 26: Asia Pacific Market Value (US$ Million), By Type, 2022 to 2032
Table 27: Asia Pacific Market Value (US$ Million), By Application, 2015 to 2021
Table 28: Asia Pacific Market Value (US$ Million), By Application, 2022 to 2032
Table 29: Asia Pacific Market, By Country, 2015 to 2021
Table 30: Asia Pacific Market, By Country, 2022 to 2032
Table 31: Middle East and Africa Market Value (US$ Million), By Type, 2015 to 2021
Table 32: Middle East and Africa Market Value (US$ Million), By Type, 2022 to 2032
Table 33: Middle East and Africa Market Value (US$ Million), By Application, 2015 to 2021
Table 34: Middle East and Africa Market Value (US$ Million), By Application, 2022 to 2032
Table 35: Middle East and Africa Market, By Country, 2015 to 2021
Table 36: Middle East and Africa Market, By Country, 2022 to 2032
Table 37: Global Market Incremental $ Opportunity, By Type, 2015 to 2021
Table 38: Global Market Incremental $ Opportunity, By Application, 2022 to 2032
Table 39: Global Market Incremental $ Opportunity, By Region, 2022 to 2032
Table 40: North America Market Incremental $ Opportunity, By Type, 2015 to 2021
Table 41: North America Market Incremental $ Opportunity, By Application, 2022 to 2032
Table 42: North America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 43: Latin America Market Incremental $ Opportunity, By Type, 2015 to 2021
Table 44: Latin America Market Incremental $ Opportunity, By Application, 2022 to 2032
Table 45: Latin America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 46: Europe Market Incremental $ Opportunity, By Type, 2015 to 2021
Table 47: Europe Market Incremental $ Opportunity, By Application, 2022 to 2032
Table 48: Europe Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 49: Asia Pacific Market Incremental $ Opportunity, By Type, 2015 to 2021
Table 50: Asia Pacific Market Incremental $ Opportunity, By Application, 2022 to 2032
Table 51: Asia Pacific Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 52: Middle East and Africa Market Incremental $ Opportunity, By Type, 2015 to 2021
Table 53: Middle East and Africa Market Incremental $ Opportunity, By Application, 2022 to 2032
Table 54: Middle East and Africa Market Incremental $ Opportunity, By Country, 2022 to 2032
Figure 1: Global Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 2: Global Market Absolute $ Historical Gain (2015 to 2021) and Opportunity (2022 to 2032), US$ Million
Figure 3: Global Market Share, By Type, 2022 & 2032
Figure 4: Global Market Y-o-Y Growth Projections, By Type 2022 to 2032
Figure 5: Global Market Attractiveness Index, By Type 2022 to 2032
Figure 6: Global Market Share, By Application, 2022 & 2032
Figure 7: Global Market Y-o-Y Growth Projections, By Application 2022 to 2032
Figure 8: Global Market Attractiveness Index, By Application 2022 to 2032
Figure 9: Global Market Share, By Region, 2022 & 2032
Figure 10: Global Market Y-o-Y Growth Projections, By Region 2022 to 2032
Figure 11: Global Market Attractiveness Index, By Region 2022 to 2032
Figure 12: North America Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 13: North America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 14: North America Market Share, By Type, 2022 & 2032
Figure 15: North America Market Y-o-Y Growth Projections, By Type 2022 to 2032
Figure 16: North America Market Attractiveness Index, By Type 2022 to 2032
Figure 17: North America Market Share, By Application, 2022 & 2032
Figure 18: North America Market Y-o-Y Growth Projections, By Application 2022 to 2032
Figure 19: North America Market Attractiveness Index, By Application 2022 to 2032
Figure 20: North America Market Share, By Country, 2022 & 2032
Figure 21: North America Market Y-o-Y Growth Projections, By Country 2022 to 2032
Figure 22: North America Market Attractiveness Index, By Country 2022 to 2032
Figure 23: Latin America Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 24: Latin America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 25: Latin America Market Share, By Type, 2022 & 2032
Figure 26: Latin America Market Y-o-Y Growth Projections, By Type 2022 to 2032
Figure 27: Latin America Market Attractiveness Index, By Type 2022 to 2032
Figure 28: Latin America Market Share, By Application, 2022 & 2032
Figure 29: Latin America Market Y-o-Y Growth Projections, By Application 2022 to 2032
Figure 30: Latin America Market Attractiveness Index, By Application 2022 to 2032
Figure 31: Latin America Market Share, By Country, 2022 & 2032
Figure 32: Latin America Market Y-o-Y Growth Projections, By Country 2022 to 2032
Figure 33: Latin America Market Attractiveness Index, By Country 2022 to 2032
Figure 34: Europe Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 35: Europe Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 36: Europe Market Share, By Type, 2022 & 2032
Figure 37: Europe Market Y-o-Y Growth Projections, By Type 2022 to 2032
Figure 38: Europe Market Attractiveness Index, By Type 2022 to 2032
Figure 39: Europe Market Share, By Application, 2022 & 2032
Figure 40: Europe Market Y-o-Y Growth Projections, By Application 2022 to 2032
Figure 41: Europe Market Attractiveness Index, By Application 2022 to 2032
Figure 42: Europe Market Share, By Country, 2022 & 2032
Figure 43: Europe Market Y-o-Y Growth Projections, By Country 2022 to 2032
Figure 44: Europe Market Attractiveness Index, By Country 2022 to 2032
Figure 45: Middle East and Africa Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 46: Middle East and Africa Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 47: Middle East and Africa Market Share, By Type, 2022 & 2032
Figure 48: Middle East and Africa Market Y-o-Y Growth Projections, By Type 2022 to 2032
Figure 49: Middle East and Africa Market Attractiveness Index, By Type 2022 to 2032
Figure 50: Middle East and Africa Market Share, By Application, 2022 & 2032
Figure 51: Middle East and Africa Market Y-o-Y Growth Projections, By Application 2022 to 2032
Figure 52: Middle East and Africa Market Attractiveness Index, By Application 2022 to 2032
Figure 53: Middle East and Africa Market Share, By Country, 2022 & 2032
Figure 54: Middle East and Africa Market Y-o-Y Growth Projections, By Country 2022 to 2032
Figure 55: Middle East and Africa Market Attractiveness Index, By Country 2022 to 2032
Figure 56: Asia Pacific Market Value (US$ Million) and Year-on-Year Growth, 2015 to 2032
Figure 57: Asia Pacific Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Million
Figure 58: Asia Pacific Market Share, By Type, 2022 & 2032
Figure 59: Asia Pacific Market Y-o-Y Growth Projections, By Type 2022 to 2032
Figure 60: Asia Pacific Market Attractiveness Index, By Type 2022 to 2032
Figure 61: Asia Pacific Market Share, By Application, 2022 & 2032
Figure 62: Asia Pacific Market Y-o-Y Growth Projections, By Application 2022 to 2032
Figure 63: Asia Pacific Market Attractiveness Index, By Application 2022 to 2032
Figure 64: Asia Pacific Market Share, By Country, 2022 & 2032
Figure 65: Asia Pacific Market Y-o-Y Growth Projections, By Country 2022 to 2032
Figure 66: Asia Pacific Market Attractiveness Index, By Country 2022 to 2032
Figure 67: USA Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 68: USA Market Share, By Type, 2021
Figure 69: USA Market Share, By Application, 2021
Figure 70: Canada Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 71: Canada Market Share, By Type, 2021
Figure 72: Canada Market Share, By Application, 2021
Figure 73: Brazil Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 74: Brazil Market Share, By Type, 2021
Figure 75: Brazil Market Share, By Application, 2021
Figure 76: Mexico Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 77: Mexico Market Share, By Type, 2021
Figure 78: Mexico Market Share, By Application, 2021
Figure 79: Germany Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 80: Germany Market Share, By Type, 2021
Figure 81: Germany Market Share, By Application, 2021
Figure 82: United Kingdom Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 83: United Kingdom Market Share, By Type, 2021
Figure 84: United Kingdom Market Share, By Application, 2021
Figure 85: France Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 86: France Market Share, By Type, 2021
Figure 87: France Market Share, By Application, 2021
Figure 88: Italy Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 89: Italy Market Share, By Type, 2021
Figure 90: Italy Market Share, By Application, 2021
Figure 91: BENELUX Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 92: BENELUX Market Share, By Type, 2021
Figure 93: BENELUX Market Share, By Application, 2021
Figure 94: Nordic Countries Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 95: Nordic Countries Market Share, By Type, 2021
Figure 96: Nordic Countries Market Share, By Application, 2021
Figure 97: China Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 98: China Market Share, By Type, 2021
Figure 99: China Market Share, By Application, 2021
Figure 100: Japan Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 101: Japan Market Share, By Type, 2021
Figure 102: Japan Market Share, By Application, 2021
Figure 103: South Korea Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 104: South Korea Market Share, By Type, 2021
Figure 105: South Korea Market Share, By Application, 2021
Figure 106: GCC Countries Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 107: GCC Countries Market Share, By Type, 2021
Figure 108: GCC Countries Market Share, By Application, 2021
Figure 109: South Africa Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 110: South Africa Market Share, By Type, 2021
Figure 111: South Africa Market Share, By Application, 2021
Figure 112: Turkey Market Value (US$ Million) and Forecast, 2022 to 2032
Figure 113: Turkey Market Share, By Type, 2021
Figure 114: Turkey Market Share, By Application, 2021
The global towing software market is estimated to reach USD 766.8 Million by 2032.
The global towing software market was estimated at USD 447.8 Million in 2021.
The USA is projected to lead the market, procuring USD 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.
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