Market Dynamics
The Canadian MaaS market outlook for 2018 to 2032 promises to be an exciting development period for MaaS providers, with considerable changes in the manner and intensity of service offerings. With increased levels of consumer demand for MaaS products, the focus has shifted from merely providing ride-hailing services to constructing holistic products that encompass the entire transportation system. Through MaaS, users can book multiple forms of transportation (buses, trains, taxis, bikes, carpools, and more) with a unified account. In response to consumer interest in MaaS, Canadian MaaS providers will have to develop their services to meet the needs of local users. First of all, ensuring a seamless integration with existing public transit systems is a major point of focus for Canadian MaaS providers. Integrating various transportation options into a single platform, while also providing real-time updates on schedules and pricing, will allow users to more effectively plan their journey and eliminate the need for manual recalculations and route selection.In addition to a better user experience, Canadian MaaS providers also need to formulate more efficient partnerships. Currently, the business models of many of these providers depend on developing relationships with third-party providers, such as taxi operators.
It is crucial that these strategic agreements are structured in such a way that the primary goals of MaaS “ providing a unified travel experience and convenience to the customer “ are met. The Canadian MaaS market outlook will also involve a significant amount of digitalization, as users increasingly expect their services to be tech-enabled and accessible by mobile devices. Canadian MaaS providers must look into implementing mobile applications and web services that are easy to use and supported by robust analytics and reporting functions. Such technologies should provide comprehensive insights into customer preferences and behaviours, and enable users to book their preferred type of transportation in just a few clicks. The gradual adoption of driverless vehicles is expected to open up a variety of new opportunities for Canadian MaaS providers as well. Autonomous vehicles with the ability to provide MaaS services could enable more cost-effective pricing, with fewer customer-provided incentives necessary to attract passengers. As the technological capabilities of driverless cars continue to expand, it is likely that Canadian MaaS providers will soon have the capability to accommodate a greater number of ride-hailing requests on their platforms.
