Electronic Logging Device Market Size 2024-2033 – Growth Analysis, Outlook, Overview

The Electronic Logging Device  by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Electronic Logging Device , The electronic logging device market size has grown steadily in recent years. It will grow from $14.15 billion in 2023 to $14.78 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%.  The  growth in the historic period can be attributed to regulatory mandates, improved compliance and accuracy, enhanced fleet management, safety and accident prevention, productivity gains, reduction in paperwork burden..

The electronic logging device market size is expected to see steady growth in the next few years. It will grow to $17.91 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.  The growth in the forecast period can be attributed to continued regulatory evolution, focus on driver well-being, smart cities and traffic management, environmental sustainability, data security measures, global supply chain challenges.. Major trends in the forecast period include advancements in telematics technology, shift to cloud-based solutions, use of artificial intelligence (ai), mobile eld applications, blockchain for data security, interoperability standards..

The increasing demand for electronics in the automotive industry is expected to propel the growth of the electronic logging device market in the coming years. The automotive sector encompasses businesses involved in the making, distribution, sale, and maintenance of vehicles. The electronic logging device mandate rule by the federal motor carrier safety administration made electronic logging devices mandatory in every low-commercial vehicle. For instance, according to the National Automobile Dealers Association, a US-based trade organization representing nearly 16,500 franchised new car and truck dealerships, sales of light commercial vehicles in October 2022 totaled a seasonally adjusted annual rate of 14.9 million, which is the second-highest monthly total of that year. It was 12.7% higher than in October 2021 and up to 9.8% higher than in September 2022. Thus, the electronic logging device demand increased due to the increased sales of light vehicles due to the ELD mandate rule. Therefore, the increasing demand for electronics in the automotive industry is driving the growth of the electronic logging device market.

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The electronic logging device market covered in this report is segmented –

1) By Component: Telematics Unit, Display, Other Components

2) By Form Factor Type: Embedded, Integrated

3) By Vehicle Type: Light Commercial Vehicles, Truck, Bus

 Top Major Players:
Trimble Transportation
Omnitracs LLC
Teletrac Navman Ltd.
Geotab Inc.
Donlen Corporation

Europe was the largest region in the electronic logging device market in 2023.

Product innovation is the key trend gaining popularity in the electronic logging device market. Major companies operating in the electronic logging device market are focused on developing innovative products to strengthen their position in the market. For instance, in November 2022, Trucker Path, a US-based transportation network company specializing in online and mobile services for the trucking industry, launched Geotab ELD and telematics technologies as an inclusion of its growing product portfolio. In Trucker Path ELD powered by Geotab, Electronic logging Device technology provides hours of service and driver’s vehicle inspection report compliance, while telematics provides vehicle utilization, performance, and health assessments along with a wide range of other telematics-driven features.

The electronic logging device  market report table of contents includes:

1. Executive Summary
2. Electronic Logging Device Market Characteristics
3. Electronic Logging Device Market Trends And Strategies
4. Electronic Logging Device Market – Macro Economic Scenario
5. Global Electronic Logging Device Market Size and Growth
….…
31. Global Electronic Logging Device Market Competitive Benchmarking
32. Global Electronic Logging Device Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electronic Logging Device Market
34.Electronic Logging Device Market Future Outlook and Potential Analysis
35. Appendix

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