According to the report by Expert Market Research (EMR), the global electronic logging devices (ELDs) market size is projected to grow at a CAGR of 1.1% between 2024 and 2032. Aided by the regulatory mandates and the increasing emphasis on road safety and operational efficiency, the market is expected to grow significantly by 2032.
ELDs are digital solutions that automatically record a driver’s driving time and hours of service (HOS), ensuring compliance with transportation regulations. These devices have become indispensable tools in ensuring road safety, enhancing fleet efficiency, and simplifying compliance with transportation laws.
One of the primary drivers of the electronic logging devices (ELDs) market growth is the stringent regulatory framework in regions like North America and Europe. The implementation of regulations mandating the use of ELDs for commercial vehicles has significantly fuelled market growth. These regulations aim to reduce road accidents caused by driver fatigue, thereby ensuring safer roads.
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The transportation and logistics industry’s growing need for operational efficiency is another vital factor propelling the electronic logging devices (ELDs) market demand. ELDs enable real-time tracking of vehicles, efficient route planning, and minimisation of idle time, leading to enhanced productivity and reduced operational costs. Furthermore, the data collected by ELDs assists in preventive maintenance, reducing vehicle downtime and extending the lifespan of fleets.
Additionally, the increasing awareness of the environmental impact of transportation has led to the adoption of ELDs to reduce fuel consumption and carbon emissions. By optimising routes and reducing unnecessary idling, ELDs contribute to more sustainable transportation practices, further boosting the electronic logging devices (ELDs) market size.
The technological advancements in ELDs, including integration with telematics and advanced analytics, have further enhanced their appeal. These integrations provide fleet managers with comprehensive insights into fleet operations, driver behaviour, and vehicle performance, enabling informed decision-making and improved fleet management.
As per the electronic logging devices (ELDs) market analysis, North America dominates the global market, mainly due to early regulatory mandates and high technology adoption rates. However, regions like Asia-Pacific are expected to witness significant growth, driven by increasing awareness of road safety and the gradual introduction of related regulations in countries like China and India.
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Electronic Logging Devices (ELDs) Market Segmentation
The market can be divided based on vehicle type, form factor, component, and region.
Market Breakup by Vehicle Type
- Light Commercial Vehicle
- Truck
- Bus
Market Breakup by Form Factor
- Embedded
- Integrated
Market Breakup by Component
- Telematics
- Engine Module
- External Display
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global electronic logging devices (ELDs) market. Some of the major players explored in the report by Expert Market Research are as follows:
- Trimble Inc (NASDAQ: TRMB)
- Omnitracs, LLC
- Teletrac Navman Ltd.
- Geotab Inc.
- Donlen Corporation
- Garmin Ltd. (NASDAQ: GRMN)
- AT&T Inc. (NYSE: T)
- WorkWave LLC
- Verizon Communications Inc. (NYSE: VZ)
- Others
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