PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514945
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514945
Automotive Electronic Logging Device Market size was valued at USD 16,514.2 Million in 2023, expanding at a CAGR of 5.00% from 2024 to 2032.
The Automotive Electronic Logging Device (ELD/E-Log) is a digital device used in a business vehicle to expose or set the working hours of professional truck/bus drivers and commercial automobile carriers based on provider compliance hours. The Automotive Electronic Logging Device (ELD/E-Log) assists the driver and supervisor in determining the truck's movement time because it is linked to the truck's engine.
Automotive Electronic Logging Device Market- Market Dynamics
Strict Government Regulations for Vehicle Security and Safety
The primary driver of the automotive electronic logging device market is government regulations requiring the integration of a record of duty device in commercial vehicles to record and satisfy hours-of-service compliance. To monitor and document the working hours of professional truck/bus drivers and commercial motor carriers based on hours-of-service compliance, the government has implemented laws requiring the use of automobile electronic logging devices. Tracking and identifying the vehicle's position, engine hours, and driver identity enhances safety and security.
Automotive Electronic Logging Device Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.00% over the forecast period (2024-2032)
Based on Service Type segmentation, intermediate was predicted to show maximum market share in the year 2023
Based on Vehicle Type segmentation, light commercial vehicles were the leading type in 2023
Based on Component segmentation, the telematics unit segment is the highest contributor to the market in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Automotive Electronic Logging Device Market is segmented on the basis of Service Type, Vehicle Type, Component, Form Factor, and Region.
The market is divided into three categories based on Service Type: Entry Level, Intermediate and High Level. The intermediate category contributes the most to the market. An intermediate service bundle mixes add-on services with entry-level services. Add-on services include ELD compliance, GPS tracking, and notifications. Mid- and upper-sized fleet operators use intermediate services. It is the largest market for the service type due to the significant mid- and large-sized fleet operations in Europe and North America, which are beneficial for market expansion.
The market is divided into four categories based on Vehicle Type: Light Commercial Vehicles, Trucks, Bus and Cars. The light commercial vehicles (LCV) segment holds the largest market share. To create a positive working environment for commercial vehicle drivers, automotive electronic logging devices are utilized to track working hours and the location of commercial vehicles. Automotive electronic logging devices facilitate and improve the management of duty status data records. Commercial vehicles can check Hours of Service compliance with ELD. Driving time in commercial vehicles is recorded using an electronic recording device. It connects to the vehicle's onboard diagnostics port and collects data on the engine, location, speed, miles driven, and other aspects.
Automotive Electronic Logging Device Market- Geographical Insights
Geographically, this market is distributed over North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further split based on the nations bringing business. Asia Pacific dominates the global market. Asia-Pacific represents a sizable percentage of the global market for automobile logging devices. This is because developing countries such as India, China, and Indonesia are making technical advances and boosting automotive standards. The most profitable market for automobile logging devices is due to the availability of high-end upgraded technologies, increased demand for novel electronics, and the expansion of the manufacturing industries. Automotive logging systems are becoming increasingly crucial for enterprises of all kinds to ensure productive working conditions.
North America is predicted to grow significantly during the projection period. The growing demand for commercial cars propels North America's automotive electronic logging device industry. Furthermore, in some countries, ELD devices are required to be placed in all cars since they allow for faster and more accurate handling of duty status data. In 2019, AirIQ Inc., a Canadian company, released electronic logging and hours of service solutions using Vis Tracks. This certified ELD/Driver Vehicle Inspection Report platform uses Bluetooth devices to track and preserve logs.
In the competitive landscape of the Automotive Electronic Logging Device (ELD) market, some prominent competitors emerge. Leading companies in this industry include AT&T Business, Blue Tree System, Coretex, DriverTech, and ELD Solutions. They provide advanced ELD solutions to help fleet management and drivers comply with rules, improve safety, and increase operational efficiency. These organizations are continually innovating to deliver user-friendly interfaces, real-time tracking, and data analytics to satisfy the market's changing needs.
In February 2022, Omnitracs LLC, a Solera business, announced that its intelligent vehicle entryway electronic logging device (ELD) has received the necessary third-party documentation in Canada. FP Inventions certified the ELD, indicating that it complies with the Canadian Electronic Logging Device (ELD) Mandate.
GLOBAL AUTOMOTIVE ELECTRONIC LOGGING DEVICE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
AT&T Business
Blue Tree System
Coretex
DriverTech
ELD Solutions
Garmin International
Geotab Inc.
Omnitracs LLC
Teletrac Navman
Zonar Systems
Others