How Large is the Global Electronic Logging Device Market and What is its Growth Forecast?
The electronic logging device market has been witnessing steady growth in recent years. It is set to grow from $14.52 billion in 2024 to $15.04 billion in 2025, yielding a compound annual growth rate (CAGR) of 3.6%. This steady increase can be attributed to regulatory mandates, improved compliance and accuracy, enhancement in fleet management, prevention of accidents and safety concerns, gains in productivity, and reduction in paperwork.
The electronic logging device market is predicted to see robust growth in the upcoming years, with market size expected to reach $18.44 billion by 2029 at a CAGR of 5.2%. The growth in this forecast period is attributed to continued regulatory evolution, emphasis on driver well-being, development of smart cities and traffic management, environmental sustainability, data security measures, and global supply chain challenges. Advancements in telematics technology, the shift towards cloud-based solutions, the application of artificial intelligence, mobile electronic logging devices, blockchain for data security, and interoperability standards are major trends during the forecast period.
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What are the Key Growth Drivers for the Electronic Logging Device Market?
The increasing demand for electronics in the automotive industry is expected to drive the growth of the electronic logging device market in the future. The automotive sector, which encompasses businesses involved in the manufacture, distribution, sale, and maintenance of vehicles, has witnessed an increasing demand for electronic logging devices. This demand is further boosted by the electronic logging device mandate rule by the federal motor carrier safety administration, which made electronic logging devices obligatory in every low-commercial vehicle. In October 2022, sales of light commercial vehicles reached a seasonally adjusted annual rate of 14.9 million units, the second-highest monthly total for the year, reflecting a 12.7% increase from October 2021 and a 9.8% rise from September 2022. This increase in sales due to the ELD mandate rule has fueled the demand for electronic logging devices.
Which Segments Govern the Electronic Logging Device Market?
1) By Component: Telematics Unit, Display, Other Components
2) By Form Factor Type: Embedded, Integrated
3) By Vehicle Type: Light Commercial Vehicles, Truck, Bus
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What Major Players are Operating in the Electronic Logging Device Market?
Major companies operating in the electronic logging device market include Trimble Transportation, Omnitracs LLC, Teletrac Navman Ltd., Geotab Inc., Donlen Corporation, Verizon Connect, Blue Ink Tech, CarrierWeb LLC, TomTom International BV, Assured Techmatics, Coretex Group Limited, Transflo, Wheels Inc., EROAD Limited, Fleetup, Gorilla Safety, Drivewyze Inc., LINXUP LLC, InTouch GPS, Fleet Complete, Stoneridge Inc., AT&T Fleet Complete, Garmin Ltd., Samsara Inc., Zonar Systems Inc., Azuga Inc., GPS Insight LLC.
What are the Emerging Trends in The Electronic Logging Device Market?
Product innovation is a key trend gaining traction in the electronic logging device market. Major companies are focusing on developing innovative products to enhance their market position. For instance, in November 2022, Trucker Path, a US-based transportation network company specializing in online and mobile services for the trucking industry, introduced Geotab ELD and telematics technologies to its growing suite of products. The Trucker Path ELD, powered by Geotab, provides hours of service and driver’s vehicle inspection report compliance, while telematics provide vehicle utilization, performance, and health assessments.
Which Region Dominates the Electronic Logging Device Market?
Europe was the largest region in the electronic logging device market in 2024. The regions covered in the electronic logging device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Electronic Logging Device Market Report 2025 Offer?
Electronic logging devices (ELD) are electronic tools that help licensed truck drivers and private motor carriers to monitor their hours of operation. Electronic logging devices are equipped with built-in gyroscopes, GPS tracking, and accelerometers to measure hours of service, drive time, duty status, real-time GPS location, engine load and speed, fuel efficiency, idling, mileage for diagnostics and fault codes, and safety-related events like harsh braking or collisions. The Electronic Logging Device Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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