Electronic Logging Device Market Segmentation By Vehicle Type (Truck, Buses, Light Commercial Vehicles), By Component Type (Display, Telematics Unit, Others), By Form-factor (Embedded, Integrated), By Deployment (Vehicle-Based, Cloud-Based) - Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2024 to 2029

Updated On: January, 2024

ID: 9531

Pages: 175

Electronic Logging Device Market Size, Share, Growth (2023-2028)

Electronic logging device market was worth US$ 12.04 B in 2023 with a CAGR of around 5.1% during the forecast period from 2023-2028.

Electronic Logging Device Market Overview

Electronic Logging Device (ELD or E-Log) is electronic hardware that's attached to a billboard automobile engine to record driving hours. The ELD helps the driving force and manager to trace the motion time of the truck because the ELD is linked with the engine of the truck. It is used to watch or track working hours of the professional truck/bus drivers and commercial motor carriers on the idea of hours of service (HOS). With a growing populace around the world, the rise in the internet services and the bolstering demand for e-commerce, the logistics sector is foreseen to record substantial growth within the years to come. This growth will undoubtedly have an impression on the electronic logging device market because the demand for land-based logistics solutions keeps on increasing.

Recent Developments:

· HOS247 is an ELD company accredited by FMCSA that serves the U.S., Mexico, and Canada. The company's all-in-one trucking technology stage provides E-log compliance characteristic, GPS tracking, driver-vehicle examine reports (DVIR), fleet management, vehicle diagnostics, reporting of IFTA miles, and fleet maintenance alert.

· With the time running out for truckers in the USA to upgrade to electronic logging devices that track their time on the street, data from drivers who've to build the switch appears to the point that the uncertain systems are working as intended to form trucking safer.

· GPS Insight's Hours of Service (HOS) solution leverages the field-proven power of Innovative Software Engineering's (ISE) eFleetSuite application and therefore the ELD-2000, a new GPS Insight-powered Android tablet, to deliver best-in-class GPS fleet tracking, real-time electronic driver logs, Driver Vehicle examine Reports (DVIR), and navigation for FMCSA compliance and superior fleet intelligence.

Fleet Complete, a worldwide leader in the mission-critical fleet, asset and mobile workforce tracking and management solutions, recently introduced the launch of its latest Hours of Service (HoS) mobile app available through Fleet Complete's distribution partners within the U.S. and Canada.

Electronic Logging Device Market Drivers and Restraints:

Electronic logging device and digital tachograph mandate to drive revenue streams for vendors and growing need for operational efficiency in fleet owning organizations are going to be one among the key features driving the expansion of the global electronic logging device market. One among the main driving forces within the market is that the regulation associated with an electronic logging device referred to as the digital tachograph. The E-log also can maintain records of the time, date, location, vehicle miles driven, engine hours, and identity of the driving force . This data is often recorded automatically after every hour in the least driving periods. Strict regulations by government mandating the use of the ROD device in commercial vehicles so as to collect and fulfill the hours of service compliance (HOS) may be a significant factor supporting the global electronic logging device (ELD/E-Log) business.

These devices are more straightforward than paper records because the current location and everyone other vehicle information is often directly uploaded on the system and server. ELD is additionally replacing the sooner systems, methods, and tools that can be used to register and gather data about the vehicle. Also, policies established by the government in many areas mandate the utilization of ELDs, multitasking, and information records that can analyze and organize the documents are influential factors that are presumed to spice up the demand in the global electronic logging device (ELD/E-Log) market during the foreseen period. Cost sensitivity of fleet owners may be a major hurdle within the deployment of advanced fleet management technologies. Further, one among the challenge within the market is the lack of awareness among drivers and fleet owners in emerging countries. Use of EORBD and AORBD devices, which are less efficient as compared to ELD, may be a critical factor that's projected to hamper the worldwide ELD market during the foreseen period.

Electronic Logging Device Market Segmentation:

By Vehicle Type:

Truck
Buses
Light Commercial Vehicle (LCV)

The trucks segment is predicted to carry a serious share of the global electronic logging device (ELD/E-Log) market, as a better number of trucks are equipped with these devices in the developed areas.

By Component Type:

Display
Telematics Unit
Others

By Form-factor:

Embedded
Integrate

By Deployment:

Vehicle-based
Cloud-based

The cloud-based deployment is supposed to establish an outstanding share in the overall business due to its extensive applications in terms of usage and affordability.

Electronic Logging Device Market Regional Analysis:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

North America is predicted to account for a serious share of the worldwide automotive electronic logging device (ELD/E-Log) market, because the region holds a prominent portion of the worldwide trucks, trailer, semi-trailer, and tankers market. The Federal Motor Carrier Safety Administration (FMCSA) has stated to certify the ELD and to utilize them in trucks and buses for RODs. Europe is one among the developers in adopting new technologies, which is additionally one among the key factors for the high CAGR in this region.