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  • Electronic Logging Device Market Growth Analysis | 2023-2028

    Electronic Logging Device Market Growth Analysis | 2023-2028

    Electronic Logging Device Market Growth Analysis | 2023-2028
    Report code - SRTI209 Delivery - 2 Weeks
    Electronic Logging Device Market Size, Share, Trends, Forecast, & Growth Analysis -&nb See more...

    Market Insights

    The electronic logging device market was estimated at USD 11.91 billion in 2022 and is likely to grow at a CAGR of 4.1% during 2023-2028 to reach USD 15.2 billion in 2028.

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    What is an electronic logging device?

    An electronic logging device is used by drivers of commercial motor vehicles (CMVs) to automatically record driving time and Hours of Service (HOS) records, as well as capture data on the vehicle’s engine, movement, and miles driven.

    Covid-19 Impact

    The outbreak of COVID-19 has negatively impacted the industry mainly due to lockdowns imposed by governments around the world to prevent the spread of COVID-19. The pandemic has forced companies to adopt remote working practices. The imposition of lockdown has halted manufacturing activities, disrupted the supply chain, and impacted research and development activities, resulting in delayed production.

    Electronic Logging Device Market Report Highlights

    Market Size in 2022

    USD 11.91 billion

    Market Size in 2028

    USD 15.2 billion

    Market Growth (2023-2028)

    4.1% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the major electronic logging device manufacturers are-

    • AT&T Fleet Complete
    • Blue Ink Technology
    • CarrierWeb
    • Donlen
    • Garmin ELD
    • Geotab
    • KeepTruckin
    • Omnitracs
    • ORBCOMM
    • Pedigree Technologies
    • Samsara
    • Stoneridge
    • Teletrac Navaman
    • TomTom Telematics
    • Transflo
    • Trimble
    • Verizon Connect
    • Wheels Inc.

    Market Dynamics

    Electronic logging device mandate for fleet management in North American and Asian countries & the growing need for operational efficiency in fleet-owning organizations are some of the major factors bolstering the market growth.

    Electronic-Logging-Device-Market-Dynamics

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    Segment Analysis

    By Component Type

    The electronic logging device market is segmented into display and telematics units. The telematics unit segment dominates the market as it facilitates services such as calculating the driver’s hours of service; monitoring the vehicle’s condition, fuel efficiency, and tax report; and transmitting data through a GSM module. Further, the telematics unit of an electronic logging device includes electronic logs, CO2 emission, vehicle inspection, fuel tracking, temperature monitoring, and more, fuelling the growth of the segment during the forecast period.

    By Form Factor Type

    The market is segmented as embedded and integrated. The embedded segment dominates the market owing to the rapid adoption of electronic logging devices in developed regions, particularly in North America and Europe. Embedded electronic logging devices offer more features and are secure and reliable.

    By Vehicle Type

    The market is segmented as trucks, buses, and LCVs. The trucks segment dominates the market owing to a high demand for the transportation of varied goods globally while challenges, such as a shortage of drivers and truck capacity, have made it crucial to manage the available resources with high efficiency.

    Regional Insights

    Europe held the largest market share in 2022 as since 2006 digital tachographs have been mandated in 27 European countries for commercial vehicle. The ongoing and upcoming organic and inorganic growth strategies devised by players in the market would lead to a significant upsurge in the market in Europe during the forecast period. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The electronic logging device market is segmented into the following categories.

    By Component Type

    • Display
    • Telematics Unit

    By Form Factor Type

    • Embedded
    • Integrated

    By Vehicle Type

    • Truck
    • Bus
    • LCV

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Electronic-Logging-Device-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way and the structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Electronic Logging Device Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the component types by vehicle type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Recent News & Developments

    Nov 2022: Trucker Path offers Geotab ELD, telematics solutions

    Trucker Path, the provider of trucking technology solutions including its widely used navigation app, has added Geotab electronic logging device (ELD) and telematics technologies to its growing suite of products and services.

    Feb 2022: KeepTruckin’s Electronic Logging Device Solution Now Certified in Canada

    KeepTruckin, the leader in fleet management technology, announced today that its Electronic Logging Device (ELD) solution is now fully certified in Canada for both Android and iOS operating systems.

    Frequently Asked Questions (FAQs)

    An electronic logging device is used by drivers of commercial motor vehicles (CMVs) to automatically record driving time and Hours of Service (HOS) records, as well as capture data on the vehicles engine, movement, and miles driven.

    The electronic logging device market was estimated at USD 11.91 billion in 2022.

    The electronic logging device market is likely to reach USD 15.2 billion in 2028.

    The electronic logging device market is likely to grow at a CAGR of 4.1% during 2023-2028.

    Electronic logging device mandate for fleet management in North American and Asian countries & the growing need for operational efficiency in fleet owning organizations are some of the factors driving the growth of the market.

    AT&T Fleet Complete, Blue Ink Technology, CarrierWeb, Donlen, Garmin ELD, Geotab, KeepTruckin, Omnitracs, ORBCOMM, Pedigree Technologies, Samsara, Stoneridge, Teletrac Navaman, TomTom Telematics, Transflo, Trimble, Verizon Connect, Wheels Inc. are among the key players in the market.

    Europe held the largest share of the market in 2022.

    The trucks segment dominates the market.

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