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Electronic Logging Device Market Share, Segmentation, Trends, Drivers And Forecast To 2032
Electronic Logging Device Market Analysis
The Business Research Company's Electronic Logging Device Global Market Report 2023 identifies increasing demand for electronics in the automotive industry as the major driver for the electronic logging device market's growth in the forecast period. The automotive sector encompasses businesses involved in the making, distribution, sale, and maintenance of vehicles. The electronic logging device mandate rule by the federal motor carrier safety administration made electronic logging devices mandatory in every low-commercial vehicle.
The global electronic logging device market size is expected to grow from $13.56 billion in 2022 to $14.11 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electronic logging device market size is expected to grow to $16.57 billion in 2027 at a CAGR of 4.1%.
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Major competitors in the electronic logging device market are Trimble Transportation, Omnitracs LLC, Teletrac Navman Ltd., Geotab Inc., Donlen Corporation, Verizon Connect, Blue Ink Tech.
A key trend in the electronic logging device market includes product innovation. Major companies operating in the electronic logging device market are focused on developing innovative products to strengthen their position in the market. For instance, in November 2022, Trucker Path, a US-based transportation network company specializing in online and mobile services for the trucking industry, launched Geotab ELD and telematics technologies as an inclusion of its growing product portfolio. In Trucker Path ELD powered by Geotab, Electronic logging Device technology provides hours of service and driver's vehicle inspection report compliance, while telematics provides vehicle utilization, performance, and health assessments along with a wide range of other telematics-driven features.
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The electronic logging device market 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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the electronic logging device market.
The Business Research Company's "Global Electronic Logging Device Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Electronic Logging Device Market Include:
1. Executive Summary
2. Electronic Logging Device Market Characteristics
3. Electronic Logging Device Market Trends And Strategies
4. Electronic Logging Device Market - Macro Economic Scenario
5. Electronic Logging Device Market Size And Growth
…….
26. Africa Electronic Logging Device Market
27. Electronic Logging Device Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electronic Logging Device Market
29. Electronic Logging Device Market Future Outlook and Potential Analysis
30. Appendix
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