Electronic Logging Device Market to Witness Widespread Expansion By 2025

Global electronic logging device market share is forecast to grow appreciably in the years to come, owing to mounting need to increase the operational efficiency in fleet management services. The devices are used mainly to record driving hours of commercial vehicles.

Due to the presence of a stringent regulatory framework, countries in North America and Europe have witnessed rapid growth in electronic logging device market. The United States imposed an ELD mandate back in 2017 for motor carriers to use electronic logging devices on all trucks and commercial vehicles.

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The DoT (Department of Transportation) in the U.S. passed a new legislation that makes it mandatory for all driving hours to be recorded electronically using an ELD instead of the maintaining the traditional paper logbook. The new system came into existence due to ever-increasing accidents and fatalities that occurs on U.S. roads. As per DoT, 15% of the drivers claim that driver fatigue is the main reason for accidents. Mandating ELD in commercial vehicles has lent a massive boost to electronic logging device market outlook.

The U.S. Federal Motor Carrier Safety Administration (FMCSA) mandates that drivers record the roadworthiness of their vehicles before each trip, which requires drivers to go through a checklist of inspection points, such as-widescreen, tires etc. The ELD system allows drivers to fill in this inspection checklist through the in-cab tablet, which makes sure that nothing gets missed and is then uploaded to the cloud. FMCSA approved ELDs are therefore in demand, impelling electronic logging device market trends.

Vehicle diagnostics become easier to manage with an ELD system as it offers real-time reporting on fuel, carbon, odometer and fault codes, which allows organizations to actively set up maintenance plans and help avoid costly repairs due to unforeseen vehicle problems.

Since inspections by federal & state Department of Transportation officials are made easier with the implementation of ELD systems, government agencies are in support for rapid compliance with the mandate, a trend that is expected to augment ELD market size. Data shows that hours of service violations have dropped by more than half of the levels recorded on December 2017 and are continuing to fall.

As the new ELD regulation gets implemented, hundreds of fleets that use AOBRDs (Automatic on-board Recording Devices) will be compelled to phase them out and switch to technologically advanced ELDs by the end of 2019. The regulation will result in approximately 2 to 2.5 million trucks upgrading from AOBRDs to the ELDs.

Asia Pacific, a region that is witnessing rapid growth in the use of commercial vehicles, is expected to create considerable scope for the ELD market expansion. There has been a considerable growth in the trucking industry in the region. For instance, in China, ELD buyers became eligible for a truck scrappage subsidy which is helping the trucking industry flourish in the region and is contributing to the electronic logging device market share as well. Emerging economies like India will witness a growing demand for commercial vehicles owing to a surging middle-class population and increasing economic developments, which will in turn lead to electronic logging device industry growth.

Electronic logging devices are predicted to be integrated in commercial vehicles at a rapid pace due to increasing demand as well as mandate for consistent vehicle data monitoring and efficient management of fleet. The electronic logging device market size is estimated to surpass USD 16 billion by 2025.

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Partial Chapter of the Table of Content

Chapter 4.Electronic Logging Device Market, By Component

4.1.Key trends in market, by component

4.2.Engine module

4.2.1. Market estimates and forecast, 2015 - 2025

4.3.Display

4.3.1. Market estimates and forecast, 2015 - 2025

4.4.Telematics

4.4.1. Market estimates and forecast, 2015 - 2025

Chapter 5.Electronic Logging Device Market, By Form Factor

5.1.Key trends in market, by type

5.2.Embedded

5.2.1. Market estimates and forecast, 2015 - 2025

5.3.Integrated

5.3.1. Market estimates and forecast, 2015 - 2025

Chapter 6.Electronic Logging Device Market, By Vehicle Type

6.1.Key trends in market, By Vehicle Type

6.2.Truck

6.2.1. Market estimates and forecast, 2015 - 2025

6.3.Bus

6.3.1. Market estimates and forecast, 2015 - 2025

6.4.LCV

6.4.1. Market estimates and forecast, 2015 – 2025

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