Press release
Why Electronic Logging Device Market is growing rapidly? AT&T, Donlen, Garmin, GEOTAB, KeepTruckin, Omnitracs, ORBCOMM, Samsara, Stoneridge, Teletrac Navman, TomTom, Trimble Inc.
According to the World Economic Forum, global population is growing at an exponential rate & is slated to reach 9 billion by 2050. Moreover, it has been estimated that by 2030, there would be more than 41 megacities across the globe, with a population of more than 10 million people each.
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With a growing middle class populace worldwide, the proliferation of internet services and the expanding demand for e-commerce, the logistics sector is slated to witness substantial growth in the years to come. This growth will undoubtedly have an impact on the electronic logging device market as the demand for land-based logistics solutions keeps on increasing.
The U.S. Federal Motor Carrier Safety Administration (FMCSA) mandates that drivers record the roadworthiness of their vehicles before each trip, which requires drivers to go through a checklist of inspection points, such as-widescreen, tires etc. The ELD system allows drivers to fill in this inspection checklist through the in-cab tablet, which makes sure that nothing gets missed and is then uploaded to the cloud. FMCSA approved ELDs are therefore in demand, impelling electronic logging device market trends.
Vehicle diagnostics become easier to manage with an ELD system as it offers real-time reporting on fuel, carbon, odometer and fault codes, which allows organizations to actively set up maintenance plans and help avoid costly repairs due to unforeseen vehicle problems.
Since inspections by federal & state Department of Transportation officials are made easier with the implementation of ELD systems, government agencies are in support for rapid compliance with the mandate, a trend that is expected to augment electronic logging device market size. Data shows that hours of service violations have dropped by more than half of the levels recorded on December 2017 and are continuing to fall.
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Electronic logging devices are predicted to be integrated in commercial vehicles at a rapid pace due to increasing demand as well as mandate for consistent vehicle data monitoring and efficient management of fleet. The electronic logging device market size is estimated to surpass USD 16 billion by 2025.
Table of Contents (ToC) of the report:
Chapter 5. Electronic Logging Device Market, By Form Factor
5.1. Key trends in electronic logging device industry, by type
5.2. Embedded
5.2.1. Market estimates and forecast, 2015 - 2025
5.3. Integrated
5.3.1. Market estimates and forecast, 2015 - 2025
Chapter 6.Electronic Logging Device Market, By Vehicle Type
6.1.Key trends in Electronic Logging Device Market, By Vehicle Type
6.2.Truck
6.2.1. Market estimates and forecast, 2015 - 2025
6.3.Bus
6.3.1. Market estimates and forecast, 2015 - 2025
6.4.LCV
6.4.1. Market estimates and forecast, 2015 - 2025
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