How is the Automotive Electronic Logging Device Market Poised for Growth: Trends and Opportunities Through 2034
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How has the automotive electronic logging device market grown in recent years?
Recent years have seen a robust growth in the size of the automotive electronic logging device market. From $13.83 billion in 2024, the market size is projected to soar to $14.68 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. The surge in growth in the preceding period can be traced back to factors such as the increased uptake of telematics solutions, growing concerns over managing driver fatigue, expansion of the gig economy and last-mile delivery services, the mandate for precise tracking of service hours, and the escalating demand for comprehensive compliance reporting.
How is the automotive electronic logging device market size expected to evolve during the forecast period?
In the coming years, the automotive electronic logging device market is projected to experience robust expansion. The market is set to grow to $18.43 billion by 2029, with a compound annual growth rate (CAGR) of 5.8%. Factors like heightened emphasis on productivity and efficiency, augmented focus on supply chain transparency, rising demand for driver behavior monitoring tools, expansion of the transportation and logistics industry, and higher investment in intelligent transportation systems can be attributed to the growth forecasted for this period. Key trends in the forecast period comprise advancements in ELD hardware technology, a transition towards paperless record-keeping, creation of mobile ELD applications, growth of the commercial trucking sector, and progress in data security and privacy protocols.
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Which key drivers are propelling the automotive electronic logging device market’s growth?
The upward trend in the transportation and logistics sector is anticipated to fuel the advancement of the automotive electronic logging device market. The concept of transportation and logistics revolves around the efficient and effective moving and handling of goods, individuals, and resources from one location to another. The exponential growth of e-commerce and the necessity for competent supply chain management are boosting the requirement for transportation and logistics. Electronic Logging Devices (ELDs) offer real-time tracking features, allowing fleet managers to keep track of vehicle location and status, oversee driver behavior, and receive notifications about potential issues like unauthorized vehicle operation or excessive idling. ELDs simplify the record-keeping practices in the transportation and logistics industries by automatizing the collection and storage of crucial data related to driver behavior and vehicle functioning. For example, July 2023’s State of Logistics Report by Logistics Management, a US-based logistics and transportation trade publication platform, revealed that commercial logistics costs in the United States increased to $2.3 trillion during 2022, marking a rise of 19.6% from 2021. Thus, the development of the transportation and logistics sector is propelling the expansion of the automotive electronic logging device market.
What are the market segments in the automotive electronic logging device industry?
The automotive electronic logging device market covered in this report is segmented –
1) By Component: Display, Telematics Unit
2) By Form Factor: Embedded, Integrated
3) By Service Type: Entry Level, Intermediate, High End
4) By Vehicle Type: Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
Subsegments:
1) By Display: LCD Or LED Displays, Touchscreen Displays, Digital Displays, Customizable Displays
2) By Telematics Unit: GPS Module, Cellular Communication Module (3G, 4G, 5G), Data Storage And Processing Unit, Connectivity And Communication Interfaces (Bluetooth, Wi-Fi)
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Which leading companies are shaping the growth of the automotive electronic logging device market?
Major companies operating in the automotive electronic logging device market are Verizon Communications Inc., AT&T Inc., Garmin Ltd., Trimble Inc., Stoneridge Inc., Donlen LLC, Geotab Inc., Omnitracs LLC, WorkWave LLC, CalAmp Corporation, Spireon Inc., Motive Technologies Inc., MiX Telematics Limited, Samsara Inc., EROAD Inc., Azuga Inc., GPS Insight LLC, Rand McNally, Trucker Path Inc., Whip Industries Inc., Fleet Complete Inc., Idelic Inc., Teletrac Navman US Ltd.
What key trends are currently impacting the automotive electronic logging device market’s development?
Prominent entities in the automotive electronic logging device industry are prioritizing innovative products such as the Vehicle Link ELD to retain a competitive advantage in their sphere. The said apparatus, the Vehicle Link ELD, is a minutely sized tool offering features such as hours of service (HOS) reporting, driver vehicle inspection report (DVIR) logs, and additional necessities. For instance, in May 2022, the US-headquartered commercial transportation technology solution provider Rand McNally rolled out its latest ELD model, the Vehicle Link ELD. This novel ELD aids management in monitoring truck location and condition in multiple truck fleets. Discreet, efficient, and easily concealable within the vehicle, this petite electronic logging device connects to the truck’s diagnostic interface and interfaces with the Rand VL mobile application on an Android device, broadcasting HOS data to the app for documentation purposes. This subsequently empowers drivers to administer vehicle inspections reports electronically, subsequently bolstering safety and compliance protocols. It is also crucial for International Fuel Tax Agreement (IFTA) reporting to keep a track of fuel expenditure.
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Which geographic areas are influencing the growth of the automotive electronic logging device market?
North America was the largest region in the automotive electronic logging device market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electronic logging device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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