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Electronic Logging Device Market Is Expected To Be Worth US$ 20 billion by 2030, Globally

TheGlobal Electronic Logging Device Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

The Global Electronic Logging Device Market size was estimated to be US$ 13 billion in 2019 and the expected to reach US$ 20 billion at a CAGR of 4%.

Electronic logging devices also identified as on-board electronic recorders or automatic on-board recorders are primitively utilized to check and register the hours of duty of a commercial automobile. The electronic logging devices keeps an eye on engine condition and informs the motorist and back-end fleet monitoring arrangements in case of deformities in engine frameworks. The need for electronic logging devices has noticed consequential advancement during the past couple of years with administration of regulations by the Federal Motor Carrier Safety Administration (FMSCA).

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With growing need for smart fleet solutions sustained by the broadening logistic chains across the globe, the interest for electronic logging devices has broadened importantly. The interest for commercial vehicle, exceptionally trucks, has marked durable expansion incurring to advantage and resilience delivered by roadways. Upgrading in automotive electronics has assisted towards the progression of electronic logging devices with alliance of displays and interface devices for driver comfort. The drivers can manually decide the mode of automobile, on-duty, off-duty or on-duty not driving, along with mechanized selection facility. The global electronic logging device market is counted on to mark substantial appeal in coming years due to disorder in supply chain across the globe amidst the COVID-19. However, the market is foreseen to bounce back during the latter half of the projection period incurring to business stability programs and stationing of active supply chain structure across the globe.

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Telematics unit to drive the growth of global electronic logging device market

The global electronic logging device market is segmented on the basis of component, vehicle type, form factor, and geography. Based on component, the global electronic logging device market is segmented into display, telematics unit, and other. Being a standard fitment and core component of electronic logging devices, the telematics unit contributed a dominating share to the global electronic logging devicemarket in 2019 and is anticipated to be a domineering segment end-to-end during the forecast period. The telematics unit monitors, notes and passes respective engine and automobile specifications such as hours of duty, fuel competence, tax accounting, fuel tracking, temperature observation, CO2 emission supervising and so on, to the fleet management server and thus plays a indispensable role in the electronic logging of vehicles.

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Integrated electronic logging devices to drive the growth of market owing to ease of installation and affordability

Based on form factor, the global electronic logging device market is segmented into two segments namely – embedded and integrated. The installed electronic logging devices subsidized the most extensive share of the global electronic logging device market in 2020 incurring to active need incited by sharp security and reliability granted by these gears. The unified electronic logging devices are foreseen to notice outstanding increase during the forecasted time period, incurring to elevated endorsement sustained by accessibility at economical discounts and ease of installation.

Based on geography, the global electronic logging device market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe led an influencing share to the global electronic logging device market in 2020 incurring to active entrance across the European countries. The European automotive OEMs are evaluated to fetch vehicles with inbuilt electronic logging systems in expected years, thereby altering the growth of Europe electronic logging system device market significantly. Asia Pacific is estimated to be the most profitable region during the forecast period. Major players active in the global electronic logging devicemarket include Assure Tracking, AT&T Fleet Complete, ATS Fleet Management Solutions, BigRoad, Blue Ink Technology, Blue Tree Systems,CarrierWeb, Continental AG, Coretex, Dispatching Solutions, Drive Inc., DRIVERTECH, Eclipse Software Systems, ELD Solutions, E-Log Plus, EROAD, Fleetmatics FleetUp, Forward Thinking Systems, Garmin International, GeoSpace Labs, Geotab, and HOS247 LLC.

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