According to a research report by Stratview Research, The Electronic Logging Device market has been witnessing substantial growth in the past couple of years. The electronic logging device market size is expected to grow from USD 11.44 billion in 2021 to USD 15.23 billion in 2028 with a CAGR of 4.12% during the forecast period of 2022-2028. The prime prevalence of political unrest and war-like situations among several countries is encouraging government authorities to increase their defense capabilities and stay prepared during crises.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Stratview Research has segmented the Electronic Logging Device Market by Component Type (Display and Telematics Unit), by Form Factor Type (Embedded and Integrated), by Vehicle Type (Truck, Bus, and LCV), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Based on the form factor type, the electronic logging device market is segmented as embedded and integrated. The embedded segment dominates the market owing to the rapid adoption of electronic logging device in developed regions, particularly in North America and Europe. Embedded electronic logging devices offer more features and are secure and reliable.
Based on the vehicle type, the electronic logging device market is segmented as trucks, buses, and LCVs. The trucks’ segment dominates the market owing to a high demand for the transportation of varied goods globally while challenges, such as a shortage of drivers and truck capacity, have made it crucial to manage the available resources with high efficiency.
In terms of regions, Europe is estimated to have held the largest market share in 2020 as since 2006 digital tachographs were mandated in 27 European countries for commercial vehicle. The ongoing and upcoming organic and inorganic growth strategies devised by players in the market would lead to a significant upsurge in the market in Europe during the forecast period. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
The following are the key players in the Electronic Logging Device Market –
- AT&T Fleet Complete
- Blue Ink Technology
- Garmin ELD
- Pedigree Technologies
- Teletrac Navaman
- TomTom Telematics
- Verizon Connect
- Wheels Inc.
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