Electronic Logging Device Market Growth Analysis | 2023-2028

Market Insights

The electronic logging device market was estimated at USD 11.91 billion in 2022 and is likely to grow at a CAGR of 4.1% during 2023-2028 to reach USD 15.2 billion in 2028.

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Market Dynamics

Introduction

An electronic logging device is used by drivers of commercial motor vehicles (CMVs) to automatically record driving time and Hours of Service (HOS) records, as well as capture data on the vehicle’s engine, movement, and miles driven.

Covid-19 Impact

The outbreak of COVID-19 has negatively impacted the industry mainly due to lockdowns imposed by governments around the world to prevent the spread of COVID-19. The pandemic has forced companies to adopt remote working practices. The imposition of lockdown has halted manufacturing activities, disrupted the supply chain, and impacted research and development activities, resulting in delayed production.

Market Drivers

The major factors driving the growth of the electronic logging device market are:

• Electronic logging device mandate for fleet management in North American and Asian countries.
• The growing need for operational efficiency in fleet-owning organizations.

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Key Players

Some of the major electronic logging device manufacturers are:

• AT&T Fleet Complete
• Blue Ink Technology
• CarrierWeb
• Donlen
• Garmin ELD
• Geotab
• KeepTruckin
• Omnitracs
• ORBCOMM
• Pedigree Technologies
• Samsara
• Stoneridge
• Teletrac Navaman
• TomTom Telematics
• Transflo
• Trimble
• Verizon Connect
• Wheels Inc.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Component Type

The electronic logging device market is segmented into display and telematics units. The telematics unit segment dominates the market as it facilitates services such as calculating the driver’s hours of service; monitoring the vehicle’s condition, fuel efficiency, and tax report; and transmitting data through a GSM module. Further, the telematics unit of an electronic logging device includes electronic logs, CO2 emission, vehicle inspection, fuel tracking, temperature monitoring, and more, fuelling the growth of the segment during the forecast period.

By Form Factor Type

The market is segmented as embedded and integrated. The embedded segment dominates the market owing to the rapid adoption of electronic logging devices in developed regions, particularly in North America and Europe. Embedded electronic logging devices offer more features and are secure and reliable.

By Vehicle Type

The market is segmented as trucks, buses, and LCVs. The trucks segment dominates the market owing to a high demand for the transportation of varied goods globally, while challenges, such as a shortage of drivers and truck capacity, have made it crucial to manage the available resources with high efficiency.

Regional Insights

Europe held the largest market share in 2022 as since 2006 digital tachographs have been mandated in 27 European countries for commercial vehicles. The ongoing and upcoming organic and inorganic growth strategies devised by players in the market would lead to a significant upsurge in Europe during the forecast period. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects electronic logging device market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The electronic logging device market is segmented into the following categories.

By Component Type

• Display
• Telematics Unit

By Form Factor Type

• Embedded
• Integrated

By Vehicle Type

• Truck
• Bus
• LCV

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the component types by vehicle type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].

Recent News & Developments

Nov 2022: Trucker Path offers Geotab ELD, telematics solutions

Trucker Path, the provider of trucking technology solutions including its widely used navigation app, has added Geotab electronic logging device (ELD) and telematics technologies to its growing suite of products and services.

Feb 2022: KeepTruckin’s Electronic Logging Device Solution Now Certified in Canada

KeepTruckin, the leader in fleet management technology, announced today that its Electronic Logging Device (ELD) solution is now fully certified in Canada for both Android and iOS operating systems.