The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s electronic logging device market report forecasts the electronic logging device market size to grow to $16.57 billion by 2027, with a CAGR (compound annual growth rate) of more than 4%.

Learn More On The Electronic Logging Device Market Report 2023 – https://www.thebusinessresearchcompany.com/report/electronic-logging-device-global-market-report

Electronic Logging Device Market Size Forecast
The global electronic logging device market size is expected to grow from $13.56 billion in 2022 to $14.11 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electronic logging device market size is expected to grow to $16.57 billion in 2027 at a CAGR of 4.1%.

Europe held the largest electronic logging device market share in 2022.

Key Electronic Logging Device Market Driver ­– Increasing Demand For Electronics In The Automotive Industry
For instance, according to the National Automobile Dealers Association, a US-based trade organization representing nearly 16,500 franchised new car and truck dealerships, sales of light commercial vehicles in October 2022 totaled a seasonally adjusted annual rate of 14.9 million, which is the second-highest monthly total of that year. It was 12.7% higher than in October 2021 and up to 9.8% higher than in September 2022. Thus, the electronic logging device demand increased due to the increased sales of light vehicles due to the ELD mandate rule. Therefore, the increasing demand for electronics in the automotive industry is driving the growth of the electronic logging device market.

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Key Electronic Logging Device Market Trend – Product Innovation
Product innovation is the key trend gaining popularity in the electronic logging device market. Major companies operating in the electronic logging device market are focused on developing innovative products to strengthen their position in the market.

Electronic Logging Device Market Segment
1) By Component: Telematics Unit, Display, Other Components
2) By Form Factor Type: Embedded, Integrated
3) By Vehicle Type: Light Commercial Vehicles, Truck, Bus

Electronic Logging Device Market Major Players and Strategies
Major players in the electronic logging device market are Trimble Transportation, Omnitracs LLC, Teletrac Navman Ltd., Geotab Inc., Donlen Corporation, Verizon Connect, Blue Ink Tech, CarrierWeb USA, TomTom International, Assured Techmatics, BigRoad Inc., Coretex, Transflo, Wheels Inc., EROAD Company, Fleetup, Gorilla Safety, Drivewyze, LINXUP, InTouch GPS, Fleet Complete and Stoneridge Inc.

In September 2021, GI Partners, a US-based private equity company that invests in data infrastructure businesses acquired Orbcomm for a deal value of $1.1 billion. Through this acquisition, GI Partners is expected to provide Orbcomm a chance to swiftly advance long-term strategy as GI Partners has an established track record of working with companies to accelerate growth and also provide world-class service to global customers and expand their market share. It also provides a chance for Orbcomm to increase investments in sales, marketing, and technology development and accelerate growth. Orbcomm is a US-based electronic logging device manufacturer.

The Electronic Logging Device Global Market Report 2023 covers regional data on electronic logging device market size, electronic logging device market trends and drivers, opportunities, strategies, and electronic logging device market competitor analysis. The countries covered in the electronic logging device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Electronic logging device (ELD) is an electronic tool that assist licensed truck drivers and private motor carriers to measure their hours of operation.

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