Press release
Automotive Electronic Logging Device Market Share By Top Manufacturers, and Production Forecast till 2026 | Omnitracs, LLC, Teletrac Navman, Geotab Inc., Trimble Inc
Latest research on Automotive Electronic Logging Device Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Automotive Electronic Logging Device market. This report included a special section on the Impact of COVID19. Also, Automotive Electronic Logging Device Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Automotive Electronic Logging Device industry.Automotive Electronic Logging Device market is growing at a CAGR of 4% during the forecast period (2021-2026).
The Automotive Electronic Logging Device market is highly competitive and consists of a number of major players. Top Companies like Omnitracs, LLC, Teletrac Navman, Geotab Inc., Trimble Inc., Donlen Corporation, Garmin Ltd., Verizon Wireless, WorkWave LLC, Geospace Labs, TomTom N.V.
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Industry News And Developments:
In 2019, Omnitracsunveils itsOmnitracs One fleet-management platform, this platform will support trucking companies to properly manage their operations by connecting the onboard technology to interact with their drivers and vehicles for planning routes. This platform will automatically include toll-road and private-property exemptions and enable fleets to generate tax forms.
Scope of the Report
- Governments of various countries have implemented various regulations for the compulsion of ELD devices in vehicles, for instance in 2019, the United States. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA) has stated that all motor carriers and drivers must use electronic logging devices (ELD). And also motor carriers that are using an AOBRD must have an ELD installed by the end of 2019.
- Electronic Logging Devices are imposed to create a good work environment for commercial vehicle drivers, and it also provides faster and accurate management of records of duty status (RODS) data. It also contemporize with a vehicle engine to automatically record driving time, for easier, more accurate hours of service (HOS) recording.
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Key Market Trends
Government Regulations is Driving the Growth of the Market
Europe has issued the mandate rules a decade ago but with another technology. In Europe, all drivers of the transport company or any goods producers who own some must follow the regulations of the European Commission (EC) 561/2006, which became effective in 2006. In Europe, a tachograph is preferred in place of ELD, which comes in two options of analog and digital.
Further advancements have been done in the field of tachographs as first-generation smart tachographs, which started being employed in new vehicles from June 2019, that data will be remotely available to the companies and authorities. The first-generation device has a basic GPRS device. Upcoming second-generation tachographs are expected come with a more advanced GPRS device
North America is Projected to witness the highest growth in the Market
North America is projected to grow with the highest CAGR during the forecast period. As growing demand for commercial vehicles will drive the market in the region. In 2019 around 12.76 million commercial vehicles were being sold in the United States. The local ELD manufacturing companies are launching newly certified devices for staying ahead from their competitors.
For instance, In 2019, AirIQ Inc. has launched electronic logging and hours of service solution by utilizing the VisTracks, certified ELD/ Driver Vehicle Inspection Report (DVIR) platform.VisTracksTM FMCSA certified ELD/DVIR platform and AirIQ's ECM Bluetooth device are coupled for this new product.
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Automotive Electronic Logging Device Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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