Canada Fleet Management Market – Industry Trends and Forecast to 2030

Canada Fleet Management Market Analysis and Size

Major factors expected to boost the growth of the fleet management market in the forecast period are the rise in several industrial applications, including aerospace, steel, power, chemical, and others. Furthermore, the increased resistance to load variations is the benefit of fleet management, which is further anticipated to propel the growth of the fleet management market.

Data Bridge Market Research analyses that the Canada fleet management market is expected to reach the value of USD 2,204,927.30 thousand by 2030, at a CAGR of 8.1% during the forecast period. The fleet management market report also covers pricing analysis, patent analysis, and technological advancements in depth.

Market Definition

Fleet management is the processes and practices involved in managing a company's fleet of vehicles. Fleet management includes cars, trucks, vans, and other vehicles used for business purposes. It also involves many practices, such as vehicle acquisition, maintenance, fuel management, driver management, and safety and compliance. The goal of fleet management is to optimize the use of company vehicles to improve efficiency, reduce costs, and enhance safety. Effective fleet management can help companies to increase productivity, reduce downtime, and extend the useful life of their vehicles. It can also help to improve driver behavior, reduce accidents, and ensure compliance with regulations and policies. Fleet management is used in various industries, including transportation, logistics, delivery services, and construction. Advanced technologies, such as GPS tracking and telematics, have made fleet management more effective and efficient in recent years.

 Canada Fleet Management Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers

• Increase in Demand for Logistics Due to the E-Commerce Industry

Fleet management is a practice that allows organizations to manage and coordinate delivery vehicles to achieve optimum efficiency and reduce costs. The practice of fleet management is used to monitor and record couriers and delivery personnel. It requires a system of technologies that make it easier for the fleet manager to coordinate the activities from fuel management to planning the routes- and can be easily managed using fleet management software. The expansion of the e-commerce industry has significantly impacted the logistics industry. Logistics has been considered the backbone of the e-commerce industry as it immediately affects planned operations, stockrooms, and production network organizations. They will progressively depend on re-evaluating to deal with the rising requests related to internet business portion development. Embracing this course either for the last-mile conveyance or for request satisfaction will empower them to guarantee predictable, dependable, productive, and misfire-free conveyance. Thus, this can be a great factor in managing and expanding the pressure due to the expected growth of the e-commerce business industry.

• Rise in Demand for Improvement of Customer Services

Customers nowadays are smarter and have higher expectations than ever before. Customer satisfaction and happiness are among the most important considerations for any company. Regardless of the business sector, unhappy customers won't be customers for very long, so it's important to keep them happy and feel valued. This is true for logistics and fleet management as well, where the retention of customers is key to long-term success. Improving customer services and satisfaction through improved fleet management performance is a key factor expected to boost the Canada fleet management market. In today's competitive market, businesses recognize the importance of customer satisfaction and use advanced technologies in fleet management solutions to optimize their operations and improve customer experiences

Opportunity

• Rise in the Demand of Utility Vehicles

Utility vehicles are vehicles designed and used for carrying goods or passengers. These vehicles include trucks, vans, buses, and similar vehicles used for commercial purposes. The utility vehicle market is a crucial component of the Canada automobile industry and has witnessed significant growth over the past decades. The rise in demand for utility vehicles can be attributed to several factors, including the growth of the e-commerce industry, increasing urbanization, and the need for efficient transportation systems. The demand for fleet management services and software is also expected to increase as more and more businesses rely on utility vehicles for their transportation needs. One of the reasons for the rise in demand for utility vehicles is the growth of the e-commerce industry. The demand for transportation services has increased with the increasing number of online shopping platforms. The use of utility vehicles has become more common, and fleet management has become more critical.

Restraints/Challenges

• Lower Efficiency in Connectivity

The logistics and transport industry has changed significantly in recent years. Concepts such as digitization, the emergence of big data, and connectivity have been introduced, and many fleets are now using early versions of these new technologies. In many cases, they are changing how fleet managers operate daily. Connectivity is one of the most important and effective concepts. This is where a fleet manager can have an overview of the entire fleet and stay in contact with drivers, trucks, and trailers through automated processes that provide actionable data from onboard devices. Through telematics devices and connected software solutions, fleet problems can be alerted to minor vehicle issues as they arise, allowing them to address issues sooner and deal with problems before breakdowns occur. This gives the flexibility to make running repairs or scheduled maintenance in advance, which enables trucks to stay on the road more often, spending more time delivering goods.

• Improper Guidance for Enabling the Route

A vehicle tracking system can be defined as a part of a fleet management system, which enables the fleet operator to find out the vehicle's location throughout the vehicle's journey against time. Apart from utilizing the data generated by the vehicle tracking system for enforcing the bus schedule, this data also provides important inputs for decision-making. The system facilitates the computation of the exact distance traveled in a given period, the computation of the speed of the bus at a given location, the analysis of the time taken by the vehicle to cover a certain distance, and so on. It becomes a very powerful tool in the case of operating agencies.

Recent Developments

• In June 2023, Siemens Xcelerator partnership with Helixx marks a crucial step in their pursuit of revolutionizing electric vehicle manufacturing. By integrating Siemens' industry software and services, Helixx aims to swiftly deploy its innovative EV manufacturing system worldwide, fostering sustainable economic growth through accessible zero-emission urban mobility solutions. This collaboration underscores Helixx's groundbreaking concept of Helixx Mobility Hubs, which will enable global licensed factories to produce a diverse range of electric vehicles, amplifying their impact far beyond initial production projections.
• In June 2023, Foss National Leasing Ltd. one-year update of the Foss EV Pilot Program, the company integration of electric vehicles (EVs) into the fleet has yielded insightful operational data, aiding clients in their EV adoption journey. This program effectively contributes to smoother transitions towards sustainable fleet management solutions by addressing uncertainties. In conclusion, the company's ongoing efforts signify the program's pivotal role in facilitating informed decisions for a greener and more efficient future.

 Canada Fleet Management Market Scope

The Canada fleet management market is segmented on the basis of offering, lease type, mode of transport, vehicle type, hardware, fleet size, communication range, deployment model, technology, functions, operations, business type, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offering

• Solutions
• Services

On the basis of offering, the market is segmented into solutions and services.

Lease Type

• On-Lease
• Without Lease

On the basis of lease type, the market is segmented into on-lease and without lease.

Mode of Transport

• Automotive
• Marine
• Rolling Stock
• Aircraft

On the basis of mode of transport, the market is segmented into automotive, marine, rolling stock, and aircraft.

Vehicle Type

• Internal Combustion Engine
• Electric Vehicle

On the basis of vehicle type, the market is segmented into internal combustion engine and electric vehicle.

Hardware

• GPS Tracking Devices
• Dash Cameras
• Bluetooth Tracking Tags
• Data Loggers
• Others

On the basis of hardware, the market is segmented into GPS tracking devices, DASH cameras, bluetooth tracking tags, data loggers, and others.

Fleet Size

• Small Fleets (1-5 Vehicles)
• Medium Fleets (5-20 Vehicles)
• Large & Enterprise Fleets (20-50+ Vehicles)

On the basis of fleet size, the market is segmented into small fleets (1-5 vehicles), medium fleets (5-20 vehicles), and large and enterprise fleets (20-50+ vehicles).

Communication Range

• Short-Range Communication
• Long Range Communication

On the basis of communication range, the market is segmented into short-range communication and long-range communication.

Deployment Model

• On-Premise
• Cloud
• Hybrid

On the basis of deployment model, the market is segmented into on-premise, cloud, and hybrid.

Technology

• GNSS
• Cellular Systems
• Electronic Data Interchange (EDI)
• Remote Sensing
• Computational Methods & Decision-Making
• RFID
• Others

On the basis of technology, the market is segmented into GNSS, cellular systems, electronic data interchange (EDI), remote sensing, computational methods & decision-making, RFID, and others.

Functions

• Asset Management
• Route Management
• Fuel Consumption
• Real Time Vehicle Location
• Delivery Schedule
• Accident Prevention
• Mobile Apps
• Monitoring Driver Behavior
• Vehicle Maintenance Updates
• ELD Compliance
• Others

On the basis of functions, the market is segmented into asset management, route management, fuel consumption, real time vehicle location, delivery schedule, accident prevention, mobile apps, monitoring driver behavior, vehicle maintenance updates, ELD compliance, and others.

Operations

• Private
• Commercial

On the basis of operations, the market is segmented into private and commercial.

Business Type

• Small Business
• Large Business

On the basis of business type, the market is segmented into small business and large business.

End User

• Automotive
• Transportation & Logistics
• Retail
• Manufacturing
• Food & Beverages
• Energy & Utilities
• Mining
• Government
• Healthcare
• Agriculture
• Construction
• Others

On the basis of end user, the market is segmented into automotive, transportation & logistics, retail, manufacturing, food & beverages, energy & utilities, mining, government, healthcare, agriculture, construction, and others.

Competitive Landscape and Canada Fleet Management Market Share Analysis

Canada fleet management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, country presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the fleet management market.

Some of the major players operating in the market are Element Fleet Management Corp. (U.S.), Verizon. (U.S.), Geotab Inc. (Canada), Motive Technologies, Inc. (U.S.), Jim Pattison Lease (Canada), Holman, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Donlen (U.S.), Omnitracs (a part of Solera) (U.S.), Wheels Inc. (U.S.), DENSO CORPORATION (Japan), AT&T (U.S.), Continental AG (Germany), ORBCOMM (U.S.), Summit Fleet Leasing and Management (Canada), Siemens (Germany), ADDISON LEASING OF CANADA LTD (Canada), Robert Bosch GmbH (Germany), RAM Tracking (U.K.), TRANSFLO (U.S.), Foss National Leasing Ltd. (Canada), Samsara Inc. (U.S.), Sierra Wireless. (U.S.), Mendix Technology BV (Netherlands), ALD Automotive (France), IBM (U.S.), ADDISON LEASING OF CANADA LTD (Canada), Robert Bosch GmbH (Germany), RAM Tracking (U.K.), and TRANSFLO (U.S.) among others.

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