Global electronic logging device (ELD) market is projected to witness a growth by exhibiting a significant CAGR of around 5%, during the forecast period. ELD is an electronic solution that records the driving time and hours of service of commercial motor carriers and professional truck drivers. Vehicle identification, motor carrier identification, time, date, geographical location, miles traveled, yards move, engine power up and shutdown, and engine diagnostic and malfunctioning are some of the key features offered by the ELD. The US Federal Motor Carrier Safety Administration (FMCSA) is liable for the encouragement of the safe driving practices in the overall truck industry, which also includes the oversight of vehicle safety and track record of the driver’s duty status, ensuring a smooth ELD implementation.
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Furthermore, the growing need for vehicle tracking, monitoring, measuring driver’s performance and details are the primary factors driving the demand for ELD across every vehicle. The rising trend for connected vehicles, improved route and efficiency management for commercial vehicles are creating lucrative opportunities for market growth. Whereas, the lack of skilled operators will still be a major challenge to market growth during the forecast period. Moreover, the ELD market is segmented on the basis of form factor and vehicle type. The form factor segment of the ELD market includes embedded and integrated type; whereas the vehicle type segment of the ELD market consists of bus, truck, and LCV.
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The prominent players functioning in the global ELD are AT&T Inc., Garmin Ltd., KeepTruckin, Inc., Spireon, Inc., Omnitracs, LLC, and many others. These market players are continuously contributing in the market by adopting various market techniques and approaches, which includes product launch and approvals, merger and acquisition, partnerships and collaborations, and others for gaining a strong position in the ELD market.
Global Electronic Logging Device Market- Segmentation
By Form Factor
- Embedded
- Integrated
By Vehicle Type
- Bus
- Truck
- LCV
Global Electronic Logging Device Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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