Global Electronic Logging Devices (ELDs) Market to Grow at a CAGR of 2.9% During 2024-2032, Aided by the Growing Need for Operational Efficiency by Fleet Operators

An electronic logging device (ELD) is an electronic hardware for recording driving hours connected to a commercial motor vehicle engine. Telematics units are expected to experience substantial market growth in the forecast period as they are employed to track assets in vehicles, including cars, trucks, and heavy equipment, utilising GPS and onboard diagnostics (OBD). These units also facilitate the recording of movements on maps, further aiding the electronic logging devices (ELDs) market growth.

Furthermore, these devices report data on metrics such as low tyre pressure, fuel consumption, speed, and idling. The data generated proves valuable for vehicle owners by enabling effective monitoring of vehicles, reducing maintenance costs, and enhancing fuel efficiency through insights into driver behaviour. These factors are expected to contribute to the growth of the segment during the forecast period.

Regionally, Europe is expected to witness consistent growth in the market during the forecast period. The region is experiencing heightened manufacturing activities, owing to an increased demand for the transportation and delivery of goods. Notably, certain vendors are establishing new logistics hubs to enhance the overall logistics infrastructure in Europe.

In March 2023, Trimble Inc. (NASDAQ: TRMB) introduced the GFX-1260, featuring a 12-inch display within the cab. This ISO-compatible unit serves as a versatile controller for various equipment brands. The addition of this latest unit marks an expansion of the GFX line. Such launches are expected to aid the market growth in the forecast period.

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Market Breakup by Vehicle Type, Form Factor, Component, and Region:

• The market, on the basis of vehicle type, can be divided into light commercial vehicle, truck, and bus.

• Based on form, the market can be bifurcated into embedded and Integrated.

• The market, on the basis of component, can be divided into telematics, engine module, and external display.

• The major regional markets for electronic logging devices (ELDs) include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Stringent regulations governing electronic logging devices (ELDs) are anticipated to position Europe as the primary market for these devices in the forecast period.

• The mandatory implementation of electronic logging devices (ELDs) for fleet management in North America, as well as in certain Asian countries like Japan and South Korea, serves as a significant catalyst for the growth of the market.

• The growing demand for operational efficiency among fleet-owned organisations is expected to play a crucial role in driving the electronic logging devices (ELDs) market demand.

Key Offerings of the Report:

• The EMR report gives an overview of the global electronic logging devices (ELDs) market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the vehicle types, forms, components, and major regions of electronic logging devices (ELDs).

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global electronic logging devices (ELDs) market are Trimble Inc, Omnitracs, LLC, Teletrac Navman Ltd., Geotab Inc., Donlen Corporation, Garmin Ltd., AT&T Inc., WorkWave LLC, and Verizon Communications Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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