The new report by Expert Market Research titled, ‘Global Electronic Logging Devices (ELDs) Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global electronic logging devices market, assessing the market based on its vehicle-type, form factor, components, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 13.2 Billion
• Forecast CAGR (2023-2028): 2.91%
• Forecast Market Size (2028): USD 15.6 Billion
The growth in the global electronic logging devices market is rising as the use of ELDs to enhance driving quality is steadily increasing because it allows commercial vehicle owners to monitor drivers’ driving behaviours. The use of ELDs also provides drivers with real-time updates of the condition of vehicle components, making repair and maintenance work easier to manage. These benefits are driving the increased use of ELDs. The market is anticipated to be driven by mobile device integration with ELD to track various aspects of vehicles and their requirements of service. To capitalise on the rising demand for monitoring of vehicle behaviour, there has been a growing focus on developing applications by software developers for smartphones related to ELDs.
Electronic Logging Devices (ELDs) Industry Definition and Major Segments
An electronic logging device (ELD) refers to an electronic hardware piece which is connected to the engine of commercial motor vehicle for recording hours of driving. It provides an easy, correct, and specific method of tracking vehicle operators and drivers.
Based on vehicle type, the market is divided into:
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• Light Commercial Vehicle
• Truck
• Bus
Based on form factor, the industry is segmented into:
• Embedded
• Integrated
Based on components, the market can be categorised as:
• Telematics
• Engine Module
• External Display
On the basis of region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Electronic Logging Devices (ELDs) Market Trends
The global ELD market is rising due to a surge in mandates by government to ensure vehicle security and safety, as well as trends in monitoring of vehicle condition. Although, high prices and sluggish implementation of technology in emerging markets are impeding growth of the market. While demand for commercial trucks and vehicles is surging, in addition to an increase in service offerings by transportation companies, will generate new opportunities in the forecasted period. Aside from the mobile devices integration with ELD, factors like the increasing electric vehicles (EVs) numbers and the increased analytics use with ELDs will have a major impact on the electronic logging devices (ELDs) market size growth.
Key Market Players
The major players in the market are Trimble Inc (NASDAQ: TRMB), Omnitracs, LLC, Teletrac Navman Ltd., Geotab Inc., Donlen Corporation, Garmin Ltd. (NASDAQ: GRMN), Verizon Communications Inc. (NYSE: VZ), AT&T Inc. (NYSE: T), WorkWave LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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