What Has Been the Progress and Growth of the Automotive Electronic Logging Device Market in Recent Years?
The automotive electronic logging device market has seen considerable growth due to a variety of factors.
• In recent times, there has been substantial growth in the size of the automotive electronic logging device market. It is forecasted to increase from $13.83 billion in 2024 to $14.68 billion in 2025, showing a compound annual growth rate (CAGR) of 6.2%.
Factors contributing to this growth during the past period include an increase in the use of telematics solutions, growing concerns about managing driver fatigue, expansion of the gig economy and last-mile delivery services, necessity for exact tracking of service hours, and a surge in demand for thorough compliance reporting.
What Is The Expected Growth In The Automotive Electronic Logging Device Market Size Evolve over the Forecast Period?
The automotive electronic logging device market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the automotive electronic logging device market to experience robust expansion in the upcoming years, with its value predicted to reach $18.43 billion in 2029, showing a compound annual growth rate (CAGR) of 5.8%.
This growth in the upcoming period is largely due to the heightened focus on efficiency and productivity, an increased emphasis on transparency in supply chain operations, rising demand for ways to monitor driver behaviour, expansion of the transportation and logistics sector, and an uptick in investments towards intelligent transportation infrastructure. The upcoming forecasted period will likely see trends such as technological advancements in ELD hardware, growing preference for paperless documentation, the rise of ELD mobile apps, growth of the commercial trucking industry, and improvements in data protection and privacy.
What Main Forces Are Fueling Expansion In The Automotive Electronic Logging Device Market?
The expansion of the automotive electronic logging device market is predicted to be driven by the increasing growth within the transportation and logistics sector. Efficient and effective movement and control of goods, individuals, and resources from one point to another is referred to as transportation and logistics. The growing ecommerce industry and the necessity for efficient supply chain management are fueling the demand for transportation and logistics. Electronic logging devices (ELDs) offer real-time surveillance abilities, allowing fleet administrators to keep tabs on vehicle conditions and locations, monitor driver conduct, and receive warnings about potential issues such as unauthorized vehicle usage or excessive idling. In the transportation and logistics sector, ELDs significantly simplify record-keeping operations by automating data collection and storing vital data pertaining to driver activities and vehicle operations. For example, the 2023 State of Logistics Report by Logistics Management, a logistics and transportation trading publication platform based in the U.S., stated in July 2023 that commercial logistics costs in America saw an increase of approximately 19.6% over 2022, reaching $2.3 trillion. Therefore, the expansion of the transportation and logistics sector is stimulating the growth of the automotive electronic logging device market.
What Are The Primary Segments In The Global Automotive Electronic Logging Device Market?
The automotive electronic logging device market covered in this report is segmented –
1) By Component: Display, Telematics Unit
2) By Form Factor: Embedded, Integrated
3) By Service Type: Entry Level, Intermediate, High End
4) By Vehicle Type: Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
Subsegments:
1) By Display: LCD Or LED Displays, Touchscreen Displays, Digital Displays, Customizable Displays
2) By Telematics Unit: GPS Module, Cellular Communication Module (3G, 4G, 5G), Data Storage And Processing Unit, Connectivity And Communication Interfaces (Bluetooth, Wi-Fi)
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What Emerging Trends Are Influencing The Growth Of The Automotive Electronic Logging Device Market?
Leading automotive electronic logging device market players are concentrating on developing highly advanced products like the Vehicle Link ELD to maintain their market competitiveness. The Vehicle Link ELD, a little device providing hours of service reporting, driver vehicle inspection records, among others, improves market competition. In May 2022, Rand McNally, a commercial transportation technology solutions provider based in the US, introduced a new Vehicle Link ELD. This device is an efficient tool for fleet managers, allowing them to monitor truck locations and their status systematically within multiple truck fleets. Thus, this discreet and reliable tool, which is easily concealed within the vehicle, enhances its simplicity of use. This tiny electronic logging device connects to a truck's diagnostic port and then syncs with the Rand VL app on an Android device, facilitating the transmission of hours of service data to the app for documentation. This device aids drivers in conducting electronic vehicle inspection reports, thereby enhancing safety and maintaining compliance benchmarks. Monitoring fuel expenditure is essential for International Fuel Tax Agreement (IFTA) reporting.
Who Are the Key Players In The Automotive Electronic Logging Device Market?
Major companies operating in the automotive electronic logging device market are:
• Verizon Communications Inc.
• AT&T Inc.
• Garmin Ltd.
• Trimble Inc.
• Stoneridge Inc.
• Donlen LLC
• Geotab Inc.
• Omnitracs LLC
• WorkWave LLC
• CalAmp Corporation
• Spireon Inc.
• Motive Technologies Inc.
• MiX Telematics Limited
• Samsara Inc.
• EROAD Inc.
• Azuga Inc.
• GPS Insight LLC
• Rand McNally
• Trucker Path Inc.
• Whip Industries Inc.
• Fleet Complete Inc.
• Idelic Inc.
• Teletrac Navman US Ltd.
What Is The Most Dominant Region In The Automotive Electronic Logging Device Market?
North America was the largest region in the automotive electronic logging device market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electronic logging device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
