Press release
Automotive Electronic Logging Device Market Set to Reach $18.43 Billion by 2029 with 5.8% Yearly Growth
Automotive Electronic Logging Device Market Size
Advancements in the transportation and logistics industry are projected to fuel the advancement of the automotive electronic logging device market. This industry pertains to the efficient and effective transfer and management of goods, persons, and resources between different locations. The swelling demand for this sector is due to the growth of e-commerce and the need for effective supply chain management. ELD systems possess the capability of real-time monitoring, which allows fleet managers to track vehicle position and condition, observe driver actions, and get warnings about potential problems such as unauthorized usage of vehicles or excessive idling. ELDs simplify the task of record-keeping in the transportation and logistics industry by automating the gathering and storing of important data related to driver activity and vehicle function. As an example, in July 2023, as per the 2023 State of Logistics Report by Logistics Management, a US-based professional publication platform for logistics and transportation, throughout 2022, the cost of commercial logistics in the United States shot up to $2.3 trillion, representing a 19.6% increase from 2021. Thus, the flourishing transportation and logistics industry is promoting the growth of the automotive electronic logging device market.
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What Is the projected market size and growth rate for the automotive electronic logging device market?
The market size of automotive electronic logging devices has seen a substantial rise in the past few years. The growth is set to increase from a value of $13.83 billion in 2024 to $14.68 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.2%. The escalation in the past can be accredited to factors such as an increase in the usage of telematics solutions, growing worries regarding managing driver fatigue, the expansion of the gig economy and last-mile delivery services, the necessity for precise tracking of service hours, and a heightened requirement for comprehensive compliance reporting.
The sector of automotive electronic logging devices is predicted to witness robust expansion in the coming years, reaching an estimated value of $18.43 billion in 2029 with a compound annual growth rate of 5.8%. This anticipated growth through the forecast period can be credited to several factors including heightened focus on productivity and efficiency, increased attention for visibility in supply chains, surge in driver behavior observation solutions, expansion in the logistics and transport industry, and an upswing in investments towards intelligent transportation infrastructure. Predominant trends for the forecast period encompass innovations in ELD hardware, progression towards digital records, the advent of mobile ELD apps, bolstering of the commercial trucking industry, and enhancements concerning data security and privacy protocols.
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What trends are poised to drive the future success of the automotive electronic logging device market?
Leading corporations within the automotive electronic logging device market are leveraging advanced products like Vehicle Link ELD to maintain their market dominance. The Vehicle Link ELD is a condensed gadget offering hours of service (HOS) reporting, driver vehicle inspection report (DVIR) logs, among other features. For instance, Rand McNally, an American enterprise specializing in commercial transportation tech solutions, unveiled the Vehicle Link ELD in May 2022. This new ELD permits managers to monitor truck locale and vehicle condition in fleets comprising numerous trucks. The device is uncomplicated, dependable, and easily concealed within the automobile. This miniature electronic logging device connects to a truck's diagnostic port and synchronizes with the Rand VL app on an Android device, relaying HOS data to the app for documentation. This allows drivers to carry out electronic vehicle inspection reports, boosting safety standards and adherence to regulations. Monitoring fuel expenditure is integral for International Fuel Tax Agreement (IFTA) reporting.
What major market segments define the scope and growth of the automotive electronic logging device market?
The automotive electronic logging device market covered in this report is segmented -
1) By Component: Display, Telematics Unit
2) By Form Factor: Embedded, Integrated
3) By Service Type: Entry Level, Intermediate, High End
4) By Vehicle Type: Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
Subsegments:
1) By Display: LCD Or LED Displays, Touchscreen Displays, Digital Displays, Customizable Displays
2) By Telematics Unit: GPS Module, Cellular Communication Module (3G, 4G, 5G), Data Storage And Processing Unit, Connectivity And Communication Interfaces (Bluetooth, Wi-Fi)
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Which region dominates the automotive electronic logging device market?
North America was the largest region in the automotive electronic logging device market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electronic logging device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the automotive electronic logging device industry growth?
Major companies operating in the automotive electronic logging device market are 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.
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What Is Covered In The Automotive Electronic Logging Device Global Market Report?
• Market Size Forecast: Examine the automotive electronic logging device market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive electronic logging device market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive electronic logging device market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive electronic logging device market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive electronic logging device market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive electronic logging device market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive electronic logging device market.
• Competitive Landscape: Review strategic developments in the automotive electronic logging device market, including expansions, agreements, and new product launches.
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