Electronic Logging Device (ELD) Market
Electronic Logging Device (ELD) Market - Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031
Electronic Logging Device (ELD) Market Segmented By Telematics Unit, Display Component with Intermediate, Entry Level, High-End Service Type in Embedded, Integrated Form factor
Electronic Logging Device (ELD) Market Forecast and CAGR
The electronic logging device market is expected to enhance at a CAGR of 5.6% during the forecast period 2021-2031. As per the findings, the electronic logging device market is estimated to experience an increase over the forecast period due to multiple factors such as growing demand of embedded electronic logging device and rising need to improve the productivity in fleet management services.
The electronic logging device is mainly used for record the driving hours of commercial vehicles.
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What is Driving Demand for Electronic Logging Device (ELD)?
The increasing digitization in transport and logistics, and rising service offerings by transport agencies for supply chain management, are creating growth opportunities. In addition the requirement of operational efficiency owing to deficiency of drivers and truck fleet capability and growth in trucks demand in BRICS countries, drives the demand for electronic logging device (ELD) market during the forecast period.
It also offers various features such as automatically records the vehicle data, location information, increased vehicle performance, secure and reliable, and others. The reliability of such features drives the growth of the electronic logging device (ELD) market.
Growing demand for advanced telematics unit and technological advancements, advanced computing capabilities and sensor technology developments, such major factors fueling demand for electronic logging device (ELD) across regions.
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What is the Impact of COVID-19 Pandemic Outbreak on Sales of Electronic Logging Device (ELD)?
The COVID-19 pandemic outbreak has disrupted many industries, including the electronic logging device (ELD) market. It has impacted both the end-users of ELD, and manufactures globally. The disruption caused by the pandemic driven various key component suppliers and technology providers to reduced expenses and production in some major countries.
Electronic logging device (ELD) is used for create a safer work environment for drivers, and faster to accurately manage, track, and share records of duty status (RODS) data. The significant increase in the number of electronic logging device (ELD) in various applications such as reducing fuel wastage, reducing liabilities, minimizing administrative burden, vehicle diagnostics, automated IFTA calculation & other applications, is boosting the market growth.
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North America Electronic Logging Device (ELD) Market Outlook
North America region will be the largest market share for electronic logging device (ELD), due to the strong presence of electronic logging device (ELD) providers and manufacturer in the region. This is attributed to the high increase in demand for electronic logging device (ELD) for various end user application such as lower insurance premiums, and location tracking and better route management, among others.
The North American regional market has been accounted for strong share in the global electronic logging device (ELD) market, owing to growing adoption of electronic logging device in developed regions such as North America and Europe.
It also offers various benefits such as driver-vehicle inspection reports (DVIR), state mileage, driver safety, vehicle diagnostics, and fuel efficiency, among others. Hence, the demand for electronic logging device (ELD) is growing across the North America region during the forecast period.
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Europe Demand Outlook for Electronic Logging Device (ELD)
Europe is expected to dominate the electronic logging device market. The region is expected to offer lucrative opportunities for leading market players owing to stringent regulations in the U.S. and Europe.
Europe has accounted for an electronic logging device (ELD) market share in 2021 and is estimated to boost at a CAGR of over 9.5% in the near future. The presence of key market players such as Teletrac Navaman, Omnitracs, LLC, Orbcomm, and Garmin Ltd., such major players contributing to the growth.
Who are the Key Providers of Electronic Logging Device (ELD)?
Some of the leading manufacturer and providers of electronic logging device (ELD) include
- Omnitracs LLC
- Geotab Inc.
- Teletrac Navman
- Trimble Inc.
- Donlen Corporation
- Garmin Ltd.
- AT&T Inc.
- WorkWave LLC
- LeasePlan USA Inc.
- Vector Informatik
The leading manufacturer and providers of electronic logging device (ELD) strategy has been driven by partnerships with other players in the market to enhance and jointly develop product portfolio.
This strategy allowed the manufacturers to maintain its market position in the electronic logging device (ELD) market and to build the broadest portfolio of products and a customer base ranging from the largest enterprises to small and medium-sized businesses.
- Telematics Unit
- Other (Connectors, Cable, Mounting)
By Service Type
- Entry Level
By Form Factor
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- North Africa
- Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Electronic Logging Device (ELD) Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.