What Fueled The Previous Growth In The Electronic Logging Device Market?
The electronic logging device market has seen considerable growth due to a variety of factors.
• In recent times, a consistent growth has been witnessed in the electronic logging device market size. It's projected to expand from $14.52 billion in 2024 to $15.04 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 3.6%. The escalation during the historical period can be attributed to factors such as regulatory mandates, improvements in compliance and accuracy, advancements in fleet management, prevention of accidents and improvement in safety, productivity enhancements, and the reduction of the burden of paperwork.
What Is The Expected Growth In The Electronic Logging Device Market?
The Electronic Logging Device market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the electronic logging device market is projected to witness substantial expansion. It is expected to inflate to $18.44 billion in 2029 with an annual growth rate of 5.2%.
The anticipated advancement during this period is due to ongoing regulatory progress, attention to driver health, improvement of smart cities and traffic regulation, commitment to environmental preservation, enhancements in data safety practices, and global supply chain difficulties. The forecast period is set to witness key trends like development in telematics technology, a shift towards solutions based on cloud technology, the application of artificial intelligence (AI), mobile ELD applications, use of blockchain for data protection, and interoperability norms.
What Main Forces Are Fueling Expansion In The Electronic Logging Device Market?
The anticipated expansion of the electronic logging device market is attributed to the escalating need for electronics in the automotive sector. This sector features businesses specializing in vehicle manufacturing, distribution, sales, and servicing. The federal motor carrier safety administration's ruling has made it compulsory for every low-commercial vehicle to have electronic logging devices. For instance, the National Automobile Dealers Association, which is a US-based trade group representing around 16,500 franchised new car and truck operators, indicated that sales of light commercial vehicles in October 2022 hit a seasonally adjusted annual rate of 14.9 million. This marked the second highest total in the year and was 12.7% up from October 2021 and 9.8% higher than September 2022. Due to the ELD mandate rule, an increase in the sale of light vehicles has boosted the demand for electronic logging devices. Therefore, the escalating need for electronics in the automotive sector is a major catalyst for the growth of the electronic logging device market.
What Are The Primary Segments In The Global Electronic Logging Device Market?
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
Subsegments:
1) By Telematics Unit: GPS Module, Communication Module, Sensors
2) By Display: Touchscreen Displays, Non-Touchscreen Displays
3) By Other Components: Power Supply Units, Mounting Kits, Wiring Harnesses
Pre-Book The Electronic Logging Device Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Key Trends Are Driving Changes In The Electronic Logging Device Market?
Product innovation is emerging as a significant trend in the electronic logging device market. Leading enterprises in this market are aiming at creating breakthrough products to solidify their market standing. An example of this is the launch of Geotab ELD and telematics technologies by Trucker Path, an American transport network firm that specialises in digital and mobile solutions for the trucking industry, in November 2022. The ELD offered by Trucker Path, powered by Geotab, ensures compliance with service hours and driver's vehicle inspection reporting. Additionally, the telematics technology offers a comprehensive range of features, including the evaluation of vehicle usage, performance, and health.
Who Are the Key Players 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 Is The Most Dominant Region In 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, Africa
