Electronic Logging Devices (ELDs) Market 2019-2023 by Component and Geography - Global Forecast 2019-2023
Global Electronic Logging Devices (ELDs) Market: About this market
The ELD is a device that aids enterprises to accurately manage, track, and share records of duty status (RODS) data of their vehicle feet. Technavio’s electronic logging devices market analysis considers the revenues generated based on components that include telematics unit, engine module, and external display. Our analysis also considers the sales of electronic logging devices in North America, Europe, APAC, MEA, and South America. In 2018, the telematics unit segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the cost savings will play a significant role in the telematics unit segment to maintain their market position. Also, our global electronic logging devices market report looks at factors such as the use of ELDs to enhance the quality of driving, rising preference for road transportation, and need to comply with regulatory requirements. However, the shortage of drivers due to the use of ELDs, availability of counterfeit and non-standard ELDs, and threat of cyber-attacks may hamper the growth of the electronic logging devices industry over the forecast period.
Global electronic logging devices market: Overview
Use of ELDs to enhance the quality of driving
The adoption of electronic logging devices is increasing significantly as it helps commercial vehicle owners in tracking the driving patterns of drivers. The use of ELDs also provides real-time notifications to drivers on the condition of the vehicle components, which eases maintenance and repair work. Such benefits are fueling the increased adoption of ELDs to improve road safety and business efficiency. Thus, the use of ELDs to enhance the quality of driving will fuel the growth of the ELDs market at a CAGR of almost 4% during the forecast period.
Integration of mobile devices with ELD
Mobile devices are increasingly being integrated with ELD to track the various aspects of vehicles and service requirements. Application developers are increasingly focusing on introducing electronic logging devices-related apps for smartphones for capitalizing on the growing need for tracking vehicle behavior. These applications can help drivers in tracking their time and can sync data between company electronic logging devices and the drivers’ smartphones. Thus, the integration of mobile devices with ELD will be a key ELD market trends that will fuel the growth of the market during the forecast period.
For the detailed list of factors that will drive the global electronic logging devices market during the forecast period 2019-2023, click here.
With the presence of several major players, the global electronic logging devices market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electronic logging devices manufacturers, that include Donlen Corp., Geotab Inc., Omnitracs LLC, Teletrac Navman US Ltd., and Trimble Inc.
Also, the electronic logging devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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