The Electronic Logging Device Market size is estimated to surpass USD 16 billion by 2025. Electronic logging devices are predicted to be integrated in commercial vehicles at a rapid pace due to increasing demand as well as mandate for consistent vehicle data monitoring and efficient management of fleet.
The leading companies in the electronic logging device market, such as Donlen, Keeptrukin, and AT&T, are trying to include more monitoring features in the devices. Keeptrukin provides vehicle utilization, smart dashcam, asset tracking, and driver workflow features in its devices.
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The DoT (Department of Transportation) in the U.S. passed a new legislation that makes it mandatory for all driving hours to be recorded electronically using an ELD instead of the maintaining the traditional paper logbook. The new system came into existence due to ever-increasing accidents and fatalities that occurs on U.S. roads. As per DoT, 15% of the drivers claim that driver fatigue is the main reason for accidents. Mandating ELD in commercial vehicles has lent a massive boost to electronic logging device market outlook.
The global electronic logging device market share is forecast to grow appreciably in the years to come, owing to mounting need to increase the operational efficiency in fleet management services. The devices are used mainly to record driving hours of commercial vehicles.
Due to the presence of a stringent regulatory framework, countries in North America and Europe have witnessed rapid growth in electronic logging device market. The United States imposed an ELD mandate back in 2017 for motor carriers to use electronic logging devices on all trucks and commercial vehicles.
Asia Pacific, a region that is witnessing rapid growth in the use of commercial vehicles, is expected to create considerable scope for the electronic logging device market expansion. There has been a considerable growth in the trucking industry in the region. For instance, in China, ELD buyers became eligible for a truck scrappage subsidy which is helping the trucking industry flourish in the region and is contributing to the ELD market share as well.
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The growth in the trucking industry in BRIC countries is significantly influencing the electronic logging device industry growth. China, being the leading global manufacturer for several industries, has a high demand for efficient freight transportation. Moreover, the subsidies in China for eliminating high polluting diesel trucks and incentives for electric bus buyers will influence the increase in sales of new commercial vehicles
The electronic logging device industry despite the growing popularity is witnessing some challenges, which can hamper the growth considerably. The ELD mandate in the U.S. even after a year of going into effect has faced growing resistance from drivers. The Federal Motor Carrier Safety Administration did not provide the necessary training to law enforcement officers till November 2018.
Major Table of Content: –
Chapter 1.Methodology and Scope
1.1.Definition and forecast parameters
1.1.2. Assumptions, methodology and forecast parameters
Chapter 2.Executive Summary
2.1.Electronic logging device industry 3600 synopsis, 2015 – 2025
2.1.1. Business trends
2.1.2. Component trends
2.1.3. Form factor trends
2.1.4. Vehicle type trends
2.1.5. Regional trends
Chapter 3.Electronic Logging Device Industry Insights
3.2.Industry landscape, 2015 – 2025
3.2.1. Telematics industry overview
3.2.2. Global commercial vehicle industry landscape
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