Press release
Automotive Electronic Logging Device Market Report 2024-2033: Industry Size, Share, Growth, Trends, and Outlook
Automotive Electronic Logging Device Market
According to The Business Research Company's, The automotive electronic logging devices (ELDs) market size has grown strongly in recent years. It will grow from $13.09 billion in 2023 to $13.83 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to a rise in the adoption of telematics solutions, a rise in the concerns about driver fatigue management, the growth of the gig economy and last-mile delivery services, the need for accurate hours of service tracking, increased demand for comprehensive compliance reporting.
The automotive electronic logging device market size is expected to see strong growth in the next few years. It will grow to $17.40 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing emphasis on efficiency and productivity, increasing focus on supply chain visibility, growing demand for driver behavior monitoring solutions, growing transportation and logistics sector, and increasing investment in smart transportation infrastructure. Major trends in the forecast period include technological advancements in ELD hardware, a shift towards paperless recordkeeping, the development of mobile ELD applications, expansion of the commercial trucking industry, and advancements in data security and privacy measures.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/automotive-electronic-logging-device-global-market-report
Market Drivers and Trends:
The growing transportation and logistics sector is expected to propel the growth of the automotive electronic logging device market going forward. Transportation and logistics refer to the movement and management of goods, people, and resources from one location to another efficiently and effectively. The demand for transportation and logistics is growing due to e-commerce expansion and the demand for efficient supply chain management. ELD systems provide real-time monitoring capabilities, enabling fleet managers to track vehicle status and position, monitor driver behavior, and receive alerts for potential issues such as unauthorized vehicle use or excessive idling. ELDs streamline record-keeping processes in the transportation and logistics sectors by automating the collection and storage of critical data related to driver activity and vehicle operations. For instance, in July 2023, according to the 2023 State of Logistics Report by Logistics Management, a US-based trade publication platform for logistics and transportation, over the year 2022, commercial logistics expenses in the United States surged to $2.3 trillion, which is up 19.6% from 2021. Therefore, the growth of the transportation and logistics sector is driving the growth of the automotive electronic logging device market.
Major companies operating in the automotive electronic logging device market are focusing on advanced products, such as Vehicle Link ELD, to gain a competitive edge in the market. The Vehicle Link ELD is a compact device that provides hours of service (HOS) reporting, driver vehicle inspection report (DVIR) logs, and more. For instance, in May 2022, Rand McNally, a US-based company that provides commercial transportation technology solutions, launched the Vehicle Link ELD, a new ELD designed to enable managers to check truck location and vehicle status in fleets with several trucks. It is simple, reliable, and readily hidden within the vehicle. It is a small electronic logging device that plugs into a truck's diagnostic port and pairs with the Rand VL app on an Android phone or tablet, transmitting HOS information to the app for reporting. It enables drivers to complete vehicle inspection reports electronically, improving safety and compliance measures. Tracking spending on fuel is vital for International Fuel Tax Agreement (IFTA) reporting.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14644&type=smp
Major Key Players of the Market:
Verizon Communications Inc, AT&T Inc, Garmin Ltd, Trimble Inc, Stoneridge Inc, Donlen LLC, Geotab Inc, Omnitracs LLC, WorkWave LLC, CalAmp Corporation, Spireon Inc, Motive Technologies Inc, MiX Telematics Limited, Samsara Inc, EROAD Inc, Azuga Inc, GPS Insight LLC, Rand McNally, Trucker Path Inc, Whip Industries Inc, Fleet Complete Inc, Idelic Inc, Teletrac Navman US Ltd.
Automotive Electronic Logging Device Market 2024 Key Insights:
• The automotive electronic logging device market size is expected to see strong growth in the next few years. It will grow to $17.40 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Impact Of The Transportation And Logistics Sector On The Automotive Electronic Logging Device Market
• Development Of Innovative Product To Enhance Fleet Management And Compliance
• North America was the largest region in the automotive electronic logging device market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=14644&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Electronic Logging Device Market Report 2024-2033: Industry Size, Share, Growth, Trends, and Outlook here
News-ID: 3690975 • Views: …
More Releases from The Business research company
Key Trends Reshaping the Nucleic Acid Extraction Instruments And Reagents Market …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Nucleic Acid Extraction Instruments And Reagents Market Size Growth Forecast: What to Expect by 2025?
The market for nucleic acid extraction instruments and reagents has experienced a robust growth in the recent past. The market value is projected to rise from $4.56 billion in 2024 to $4.97 billion in…
Mobile ECG Devices Market Set To Soar Due To Escalating Incidence Of Heart-Relat …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Mobile ECG Devices Industry Market Size Be by 2025?
In the past few years, the market size for mobile ECG devices has seen significant expansion. The growth rate is expected to rise from $115.35 billion in 2024 to $121.39 billion in 2025, indicating a compound annual…
Steady Expansion Forecast for Liver Cancer Diagnostics Market, Projected to Reac …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Liver Cancer Diagnostics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for liver cancer diagnostics has seen significant expansion in the past few years. The market, which was valued at $9.69 billion in 2024, is expected to rise to $10.32 billion in…
Emerging Laser Atherectomy Devices Market Trends: Product Innovations In The Las …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Laser Atherectomy Devices Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been significant growth in the market size for laser atherectomy devices. The market is projected to expand from $1.22 billion in 2024 to $1.3 billion in 2025, reflecting a compound annual growth…
More Releases for ELD
Electronic Logging Device (ELD) Market, Transforming Fleet Compliance and Operat …
Overview of the Market
The Electronic Logging Device (ELD) market has witnessed a remarkable evolution driven by regulatory mandates, technological innovation, and the rising demand for fleet efficiency. ELDs are tamper-resistant, integrated systems that automatically record driving hours and ensure compliance with Hours of Service (HOS) regulations. The implementation of mandates such as the U.S. Federal Motor Carrier Safety Administration (FMCSA)'s ELD rule has significantly spurred adoption, transforming how commercial fleets…
TruckX Introduces ELD One for More Efficient ELD Compliance & Fleet Management
Austin, TX October 25, 2024
TruckX, a leader in advanced ELD and fleet management software, is happy to announce TruckX ELD One, the latest FMCSA-compliant electronic logging device (ELD) technology offered to U.S. commercial fleets. ELD One is designed to improve HOS compliance and data-driven fleet management by providing 24/7 real-time GPS tracking and automated IFTA reporting among many other features. It integrates seamlessly with TruckX's ELD and Fleet Management Platform,…
Electronic Logging Device (ELD) Market 2023 | Futuristic Technology- OneView, Ke …
The Electronic Logging Device (ELD) research report studies primary and secondary research in order to analyze the data effectively. The market study further also draws attention to crucial industry factors such as global clients, potential customers, and sellers, which instigates positive company growth. In order to gauge the turning point of the businesses, significant market key players are also enlisted in order to deliver readers with in-depth analysis about industry…
ELD Psychology Provides Evidence-Based Approach to Help Clients Overcome Challen …
Newcastle West, NSW - In times of turmoil and stress for citizens in Newcastle, then ELD Psychology is becoming an essential haven for them to seek answers and help manage their mental health effectively.
Dr. Emma Doolan and Dr. Kaitlin Fitzgerald are providing clinical psychology services to adults in the Newcastle, Lake Macquarie and Hunter areas. They are experienced in delivering therapies for a range of presentations, including stress, anxiety, low…
ELD Psychology Provides Quality Clinical Services to Clients in New South Wales
Newcastle West, NSW - For those in New South Wales seeking a sense of balance and well-being in an increasingly hectic life, ELD Psychology can help provide evidence-based treatment for their mental health concerns.
ELD Psychology provides clinical psychology services and therapy to adults in the Newcastle, Lake Macquarie and Hunter areas.
Their team is experienced in delivering therapies for a range of presentations, including stress, anxiety, low mood…
Electronic Logging Device (ELD) Market VALUATION TO BOOM THROUGH 2025
A complete research offering of comprehensive analysis of the market share, size, recent developments, and trends can be availed in this latest report by Big Market Research.
As per the report, the Global Electronic Logging Device (ELD) Market is anticipated to witness significant growth during the forecast period from 2020 to 2025.
The report provides brief summary and detailed insights of the market by collecting data from the industry experts and several…
