According to Markntel Advisors Report, Electronic Logging Device (ELD) Market is expected to grow at a significant growth rate, and the analysis period is 2022-2027, considering the base year as 2021.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
An Electronic Logging Device (ELD) is a hardware system deployed in commercial vehicles to record real-time data such as fuel efficiency, driver behavior, Hours of Service (HOS), etc., that allows fleet owners to automatically track all driving activities throughout the day. The increasing adoption of ELDs in commercial vehicles to measure record driver hours behind the wheel is for public safety primarily, as it relates to drivers falling asleep at the wheel or other such conditions, which could cause any mishap.
Global Electronic Logging Device (ELD) Market Research Report Summary:
The Global Electronic Logging Device (ELD) Market is expected to grow at a CAGR of around 3.85% during the forecast period, i.e., 2022-27.
Time Period Captured in the Report:
- Historical Years: 2017-20
- Base Years: 2021
- Forecast Years: 2022-27
Who are the Key Players Operating in the Electronic Logging Device (ELD) Market?
The top companies of the Electronic Logging Device (ELD) Market ruling the industry are:
Blue Ink Technology, Inc., ATT Inc., CarrierWeb LLC, Donlen Corporation, Garmin Ltd., Geotab Inc., KeepTruckin Inc., Omnitracs LLC, ORBCOMM Inc., Pedigree Technologies LLC, Samsara Inc., Stoneridge Inc., Teletrac Navaman US Ltd., TomTom International BV, and Transflo.
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What is Included in Electronic Logging Device (ELD) Market Segmentation?
The Electronic Logging Device (ELD) Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Vehicle Type
- Light Commercial Vehicle
- Light Trucks
- Light Bus
- Medium Heavy Commercial Vehicle
- Trucks
- Bus
- Trailers
- Others
- Passenger Cars
- Others
- By Installation
- Embedded
- Externally Integrated
- By Components
- Engine Module
- Display
- Telematics
- By Region
- North America
- South America
- Europe
- Middle East Africa
- Asia Pacific
Explore the Complete Electronic Logging Device (ELD) Market Analysis Report – https://www.marknteladvisors.com/research-library/electronic-logging-device-eld-market.html
Key Trend in the Global Electronic Logging Device (ELD) Market
Thriving E-Commerce Platforms to Boost the Market
The growing customer spending on healthcare household products and the mounting inclination of consumers toward safe doorstep deliveries of groceries essentials through E-Commerce platforms due to the Covid-19 pandemic has resulted in the incessant use of E-commerce companies like Amazon, Bazzar.ae, Bashara Care, etc., which, in turn, has devised significant investments in freight expansions of light commercial vehicles.
As a result, the heightening demand for commercial vehicles for travel logistical services across the globe and rising data falsification among fleet drivers through conventional tracking practices have enabled governments to mandate the use of Electronic Logging Devices (ELDs). Additionally, stringent government regulations such as FMSCA in North America have come into effect, due to which the installation of ELDs in commercial vehicles has been made mandatory. Hence, this shall further fuel the overall market growth of ELDs in the coming years.
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