Electronic Logging Device Market Booming by Top Players Omnitracs, Trimble, Geotab, Donlen , and Teletrac Navaman.
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  • Electronic Logging Device Market Booming by Top Players Omnitracs, Trimble, Geotab, Donlen , and Teletrac Navaman.

    (Transportation-News.com, April 17, 2019 ) The Electronic Logging Device Market is estimated to be USD 12.5 billion in 2018 and is projected to reach USD 16.6 billion by 2025, at a CAGR of 4.13%. The global electronic logging device market is expected to grow in near future because of upcoming ELD mandate for fleet management in North America and even in some of the Asian countries. In addition to that, the growing need for operational efficiency in fleet owning organizations will also play a crucial role in the growth of the electronic logging device market.

    Integrated electronic logging device is expected to be the fastest growing market because of the rapid adoption of electronic logging device in emerging countries like India, China, and Brazil. Embedded electronic logging devices offer more features and are secure and reliable. However, the high cost of these systems is a limitation for many fleet owners. Integrated systems, on the other hand, are cheaper and do not require a large installation cost. The integrated electronic logging devices offer services with the integration of the user’s smartphone or any other handheld device, within the vehicle. These systems typically allow the driver to access smartphone apps on a screen in the car, and, in some cases, interact with these apps through controls in the vehicle. The integrated type is estimated to hold a significant market share of the electronic logging device market during the forecast period. Emerging countries such as China, India, and Brazil are the fastest growing markets for integrated electronic logging devices. Hence tier 1 players can tap these countries as new revenue pockets.

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    Display market is expected to grow at the fastest rate over the forecast period. As of now adoption rate of display unit is low due to additional cost to the electronic logging device. Display is not a standard component for electronic logging device as it depends on the user’s requirement. Cost is the major reason behind the low adoption of display in small fleet owners group. However, it is expected that display will have significant adoption in the future due to its benefits. A display unit consists of hardware and software that provide fleet owners and drivers with different kinds of information and entertainment. Using the display, users can access GPS tracking, internet, hours control system, enhanced communication services, and more. Display units help the driver communicate with his/her fleet owner during the travel. Route mapping is also an additional benefit of the display unit. Particularly, markets in North America and Asia Pacific are expected to show significant growth rate over the forecast period. Display manufacturers can tap these regions for business developments and expansion.

    Intermediate services are expected to hold the largest market for new vehicle sales as well as aftermarket sales. Intermediate services are the service package that includes entry-level services along with some add-on services. The add-on services include ELD compliance, GPS tracking, and alerts. These services are mostly subscribed by mid- and upper mid-sized fleet owners. Europe and North America are expected to hold the largest market for intermediate services as these regions have significant mid- and large-sized fleet operations. With the increase in fleet size, fleet owners need to have tracking services, data management, data analysis, driver hours of services, and more. To accommodate all such requirements, fleet owners prefer intermediate services.

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