NEW YORK , Nov. 29, 2023 /PRNewswire/ — The electronic logging devices (ELDs) market is estimated to grow by USD 3.17 billion from 2022 to 2027, growing at a CAGR of 4.69%. The electronic logging devices (ELDs) market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer electronic logging devices (ELDs) markets are AT and T Inc., Danlaw Technologies India Ltd., Donlen Corp., EROAD Inc., Garmin Ltd, Geotab Inc, HOS247 LLC, InTouchGPS, Intrepid Control Systems Inc., Masternaut Ltd., Merchants Fleet, Omnitracs LLC, ORBCOMM Inc., Pedigree Technologies LLC, RACELOGIC Ltd., Samsung Electronics Co. Ltd., Teletrac Navman US Ltd, TomTom International BV, Trimble Inc., and Verizon Communications Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download a Sample before buying
Company Offering:
- AT and T Inc. – The company offers electronic logging devices (ELDs) for commercial fleets to govern hours of service, and record of duty status.
- Danlaw Technologies India Ltd. – The company offers electronic logging devices (ELDs) namely DataLogger.
- Donlen Corp. – The company offers electronic logging devices (ELDs) namely DriverPoint Telematics.
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By Geography, the market is classified as Europe, North America, APAC, Middle East and Africa, and South America. Europe is estimated to account for 54% of the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe is anticipated to have steady growth in the global ELDs market during the forecast period. Furthermore, some major revenue-contributing countries in the ELDs market in the region include the Russian Federation, Germany, Poland, the UK, the Netherlands, and Italy. As the region is witnessing a high level of manufacturing activities, there will be a rise in the need for the delivery of goods. Some vendors are opening new logistics hubs to augment the logistics infrastructure in Europe. Download a sample report to get more insights on the market share of various regions and the contribution of the segments.
- Impactful driver- Rising preference for road transportation
- Key Trend – Integration of mobile devices with ELDs
- Major Challenges – Availability of counterfeit and non-standard ELDs
Market Segmentation
- By Component, the telematics unit segment will be significant during the forecast period. Generally, they are used to monitor assets in vehicles such as cars and trucks as well as heavy equipment using a global positioning system (GPS) and onboard diagnostics (OBD). They also support the recording of movements on maps. However, such devices report data related to low tire pressure, fuel use, and speed and idling. The generated data can assist vehicle owners in reducing the cost of maintenance by providing sufficient monitoring of vehicles and enhancing fuel efficiency by learning about the driving habits of drivers. Hence, these factors will increase segment growth during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Sample Report
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Electronic Logging Devices (ELDs) Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.69% |
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YoY growth 2022-2023 (%) |
4.57 % |
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Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
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Key countries |
US, Canada, Japan, Germany, and UK |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact US:
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SOURCE Technavio
