North America Towing Software Market Drivers and Forecasts by 2027

The towing software market in North America was valued US$ 56.3 million in 2019 and is projected to reach US$ 76.5 million by 2027; it is expected to grow at a CAGR of 4.3% from 2020 to 2027.

The towing software market growth is prominently being driven by the rising roadside assistance demand. The demand for roadside assistance is increasing owing to the growing number of aging vehicles, facing collapse or electromechanical issues, in the US. Further, the rising application-based service installations reduce response time of roadside assistance teams. This fuels the demand for roadside assistance services, which, in turn, boosts the demand for towing software by towing companies. Also, extreme weather conditions in countries such as the US and Canada result in frequent vehicle failures and risky conditions for driving. Growing need for roadside assistance would drive the demand for towing services, thereby providing lucrative growth opportunities to the towing software market. Further, the rising number of private properties and vehicle trespassing in these properties will also increase the demand for towing services.Moreover, emergence of cloud-based towing software has enabled towing companies to access the software from anywhere and anytime remotely, which in turn is driving the growth of the towing software market. However, high risk related to cyber-security may hinder the growth of the towing software market in some applications.

The towing software market is a highly fragmented and competitive marketplace. The leading companies in this market continue to broaden their clientele by expanding their current offerings.Prominent players face an increasing level of competition, both from start-ups and leading established companies across the world. Several companies in the value chain are acquiring other players in the towing softwaremarket to provide efficient products and services to its customers, and thus, to maintain or uplift their position in the market.

The towing software industry ecosystem has greatly advanced in the North America region with the increasing deployment of smart devices, GPS, and digital communications that establishes connection with the drivers, property managers, trucks, and technology as a whole. Further, automation is booming in the region paired with enhanced developments over cloud-based systems. However, the COVID-19 pandemic is one of the largest disrupting forces, with the region’s three countries continuing to combat outbreaks and significant community spread. Across the Mexico and United States, new case numbers are rapidly ticking upward, and there are some signs that the spread is expected to be under control soon. The ongoing COVID-19 outbreak is adversely affecting the business activities and company revenues in the towing software market in North America.The US is a prominent market for towing software; however,the increasing number of confirmed cases and reported deaths in the country has declined the demand for this software. The imposition of business shut downs and social distancing norms across the US, Canada, and Mexico, among others, is restricting the growth of the towing software market.

Mexico Towing Software Market Revenue and Forecasts to 2027 (US$ Mn)

North America Towing Software Market–Segmentation

North America Towing Software Market, byDeployment

• Cloud
• Web-Based

North America Towing Software Market, byEnterprise Size

• SMEs
• Large Enterprises

North AmericaTowing Software Market,byCountry

• US
• Canada
• Mexico

North America Towing Software Market - Companies Mentioned

• Beacon Software LLC
• Clearplan, Inc.
• DATOW Software
• Extric LLC (Towbook)
• Omadi, Inc.
• SwoopMe, Inc.
• TowSoftinc.
• Tracker Management Systems LLC
• TXI Systems, Inc.
• Workiz Inc.

North America Towing Software Report Scope