February 13, 2020
According to the research report titled ‘Electronic Logging Device Market Size By Component (Engine Module, Display, Telematics), By Form Factor (Embedded, Integrated), By Vehicle Type (Truck, Bus, LCV), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Poland, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global electronic logging device market is expected to be worth USD 16 billion by the year 2025.
According to the report, emergence of connected vehicle technologies coupled with rapid digitalization are major factors driving the electronic logging device market growth. Introduction of government regulations which promote driver and vehicle safety along with development of tax reporting, vehicle inspections, and video telematics solutions has allowed for safe & efficient driving techniques, which in turn is aiding the market expansion.
Also, advancements in telematics technology and sensor technology are stimulating the industry outlook. However, the report states that technological complexity associated with electronic logging devices and availability of cheap systems may hinder the market growth. Moreover, growing resistance from drivers and inefficient training of law enforcement officers may further inhibit the market growth.
Considering the geographical landscape, the report cites that China electronic logging device industry is presumed to expand significantly during the forecast period. Growing demand for effective freight transportation, in tandem with favorable government regulations and incentives for using electric bus are facilitating the business scenario. On the other hand, electronic logging device market in India will witness robust expansion in the forthcoming years due to growing middle-class population and rapid expansion of commercial vehicle industry. Moreover, economic emergence and growing manufacturing sector will also augment the regional demand for electronic logging devices.
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The prominent companies operating in the electronic logging device market are Wheels, Inc., Verizon Connect, Trimble, Transflo, TomTom Telematics, Teletrac Navaman, Stoneridge, Samsara, Pedigree Technologies, ORBCOMM, Omnitracs, KeepTruckin, Geotab, Garmin ELD, Donlen, CarrierWeb, Blue Ink Technology and AT&T Fleet Complete.
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