Canada fleet management market is fragmented, consisting of many global players. These companies produce competitive prices, various solutions, and innovative products with services across the globe. Due to the presence of the players at regional and international levels, suppliers, and manufacturers offer products and services with different solutions and features for all budgets. The increasing demand for logistics due to the e-commerce industry and the rise in demand for improvement of customer services is majorly driving the market growth. Moreover, the rapid adoption of fuel management systems in fleets and increased demand for full-service leasing are further driving the market. However, the lower efficiency in connectivity and improper guidance for enabling the route are expected to restrain the market growth. Furthermore, the rise in cyber threats is expected to challenge market growth. However, an increase in data-driven models in mobility is expected to provide lucrative opportunities for market growth.
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Data Bridge Market Research analyses that the Canada Fleet Management Market is expected to reach USD 2,204,927.30 thousand by 2030 from USD 1,189,531.99 thousand in 2022, growing with a substantial CAGR of 8.1% in the forecast period of 2023 to 2030.
Key Findings of the Study
Rise in Demand for Improvement of Customer Services
Customers nowadays are smarter and have higher expectations than ever before. Customer satisfaction and happiness are one of 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 make them feel valued. This is true for logistics and fleet management, 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 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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 - 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 – 2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Offering (Solutions and Services), Lease Type (On-Lease and Without Lease), Mode of Transport (Automotive, Marine, Rolling Stock, and Aircraft), Vehicle Type (Internal Combustion Engine and Electric vehicle), Hardware (GPS Tracking Devices, Dash Cameras, Bluetooth Tracking Tags, Data Loggers, and Others), Fleet Size (Small Fleets (1-5 Vehicles), Medium Fleets (5-20 Vehicles) and Large & Enterprise Fleets (20-50+ Vehicles), Communication Range (Short Range Communication and Long Range Communication), Deployment Model (On-Premise, Cloud, and Hybrid), Technology (GNSS, Cellular Systems, Electronic Data Interchange (EDI), Remote Sensing, Computational Method & Decision Making, RFID, and Others), Functions (Monitoring Driver Behavior, Fuel Consumption, Asset Management, ELD Complaint, Route Management, Vehicle Maintenance Updates, Delivery Schedule, Accident Prevention, Real Time Vehicle Location, Mobile Apps, and Others), Operations (Private and Commercial), Business Type (Small Business and Large Business), End User (Automotive, Transportation & Logistics, Retail, Manufacturing, Food & Beverages, Energy & Utilities, Mining, Government, Healthcare, Agriculture, Construction, and Others)
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Country Covered
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Canada
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Market Players Covered
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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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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis
Canada fleet management market is segmented into thirteen notable segments based on offering, lease type, mode of transport, vehicle type, hardware, fleet size, communication range, deployment model, technology, functions, operations, business type, and end user.
- On the basis of offering, the market is segmented into solutions and services.
In 2023, the solutions segment is expected to dominate the market
In 2023, the solutions is expected to dominate the market with the market share of 65.49% owing to the greater demand for solutions from small and large businesses.
- On the basis of lease type, the market is segmented into on-lease and without lease. In 2023, the on-lease segment is expected to dominate the market with the market share of 70.05%.
- On the basis of hardware, the market is segmented into GPS tracking devices, DASH cameras, bluetooth tracking tags, data loggers, and others. In 2023, the GPS tracking devices segment is expected to dominate the market with the market share of 38.37%.
- 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).
In 2023, small fleets (1-5 vehicles) segment is expected to dominate the market
In 2023, small fleets (1-5 vehicles) are expected to dominate the market with the market share of 48.31% as it is used majorly by small businesses and is cost-effective for them.
- On the basis of communication range, the market is segmented into short-range communication and long-range communication. In 2023, the short-range communication segment is expected to dominate the market with the market share of 57.70%.
- On the basis of deployment model, the market is segmented into on-premise, cloud, and hybrid. In 2023, the on-premise segment is expected to dominate the market with the market share of 62.50%.
- 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. In 2023, the GNSS segment is expected to dominate the market with the market share of 45.93%.
- On the basis of function, the market is segmented into monitoring driver behavior, fuel consumption, asset management, ELD compliance, route management, vehicle maintenance updates, delivery schedule, accident prevention, real-time vehicle location, mobile apps, and others. In 2023, the asset management segment is expected to dominate the market with the market share of 27.13%.
- On the basis of operations, the market is segmented into private and commercial. In 2023, the commercial segment is expected to dominate the market with the market share of 68.37%.
- On the basis of business type, the market is segmented into small business and large business. In 2023, the large business segment is expected to dominate the market with the market share of 65.13%.
- On the basis of vehicle type, the market is segmented into internal combustion engine (ICE) and electric vehicle. In 2023, the internal combustion engine (ICE) segment is expected to dominate the market with the market share of 78.87%.
- On the basis of mode of transport, the market is segmented into automotive, marine, rolling stock, and aircraft. In 2023, the automotive segment is expected to dominate the market with the market share of 67.51%.
- 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. In 2023, the automotive segment is expected to dominate the market with the market share of 29.95%.
Major Players
Data Bridge Market Research recognizes the following companies as the major key players in the Canada fleet management 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.), among others.
Market Development
- In June 2023, Siemens Xcelerator partnerships 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 ongoing efforts signify the program's pivotal role in facilitating informed decisions for a greener and more efficient future.
- In February 2023, ALD Automotive announced that the Company had partnered with IFC to reduce carbon emissions in transport by accelerating the adoption and penetration of green vehicles in emerging markets. The IFC has invested USD 400 million through this partnership in the Company, which is expected to help to grow its green fleet, a combination of hybrid, plug-in hybrid, and battery electric vehicles. This partnership is expected to boost the Company's market reachability and dominance in the Canada fleet management market.
- In February 2022, Element Fleet Management Corp. announced that the Company launched the Arc by Element, an end-to-end electric vehicle (EV) fleet offering to help clients navigate and simplify the complex transition from internal combustion engine (ICE) vehicles to EVs. Through this, the Company has assisted its clients in evaluating and adopting this new technology to advance their sustainability, strategic and economic objectives, and has boosted its presence in the Canada fleet management market.
- In December 2020, Sierra Wireless offers IoT solutions for Telematics Service Providers (TSPs) to streamline fleet connectivity to the cloud. TSPs can leverage IoT technology to collect real-time data from vehicle fleets, enabling improved maintenance, fuel efficiency, customer service, and security. The integrated edge-to-cloud solution, Octave, facilitates easy data extraction, orchestration, and secure integration into cloud-based systems, ultimately enhancing fleet telematics system development and value generation in the connected economy.
For more detailed information about the Canada fleet management market report, click here – https://www.databridgemarketresearch.com/de/reports/canada-fleet-management-market
