Automotive Electronic Logging Device Market Forecast 2024-2033: Size, Drivers, and Emerging Trends

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Overview and Scope

Automotive electronic logging devices (ELDs) refer to the digital tools used in the transportation industry to record a commercial driver’s hours of service (HOS) and vehicle data. These devices replace traditional paper logbooks, enhancing accuracy and compliance with regulations while also reducing the chance of errors.

Sizing and Forecast

The automotive electronic logging devices (ELDs) market size has grown strongly in recent years. It will grow from $13.09 billion in 2023 to $13.83 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to a rise in the adoption of telematics solutions, a rise in the concerns about driver fatigue management, the growth of the gig economy and last-mile delivery services, the need for accurate hours of service tracking, increased demand for comprehensive compliance reporting.

The automotive electronic logging device market size is expected to see strong growth in the next few years. It will grow to $17.40 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing emphasis on efficiency and productivity, increasing focus on supply chain visibility, growing demand for driver behavior monitoring solutions, growing transportation and logistics sector, and increasing investment in smart transportation infrastructure. Major trends in the forecast period include technological advancements in ELD hardware, a shift towards paperless recordkeeping, the development of mobile ELD applications, expansion of the commercial trucking industry, and advancements in data security and privacy measures.

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Segmentation & Regional Insights

The automotive electronic logging device market covered in this report is segmented –

1) By Component: Display, Telematics Unit

2) By Form Factor: Embedded, Integrated

3) By Service Type: Entry Level, Intermediate, High End

4) By Vehicle Type: Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)

North America was the largest region in the automotive electronic logging device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive electronic logging device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The growing transportation and logistics sector is expected to propel the growth of the automotive electronic logging device market going forward. Transportation and logistics refer to the movement and management of goods, people, and resources from one location to another efficiently and effectively. The demand for transportation and logistics is growing due to e-commerce expansion and the demand for efficient supply chain management. ELD systems provide real-time monitoring capabilities, enabling fleet managers to track vehicle status and position, monitor driver behavior, and receive alerts for potential issues such as unauthorized vehicle use or excessive idling. ELDs streamline record-keeping processes in the transportation and logistics sectors by automating the collection and storage of critical data related to driver activity and vehicle operations. For instance, in July 2023, according to the 2023 State of Logistics Report by Logistics Management, a US-based trade publication platform for logistics and transportation, over the year 2022, commercial logistics expenses in the United States surged to $2.3 trillion, which is up 19.6% from 2021. Therefore, the growth of the transportation and logistics sector is driving the growth of the automotive electronic logging device market.

Key Industry Players

Major companies operating in the automotive electronic logging device market are Verizon Communications Inc., AT&T Inc., Garmin Ltd., Trimble Inc., Stoneridge Inc., Donlen LLC, Geotab Inc., Omnitracs LLC, WorkWave LLC, CalAmp Corporation, Spireon Inc., Motive Technologies Inc., MiX Telematics Limited, Samsara Inc., EROAD Inc., Azuga Inc., GPS Insight LLC, Rand McNally, Trucker Path Inc., Whip Industries Inc., Fleet Complete Inc., Idelic Inc., Teletrac Navman US Ltd.

The automotive electronic logging device market report table of contents includes:

Executive Summary
Automotive Electronic Logging Device Market Characteristics
Automotive Electronic Logging Device Market Trends And Strategies
Automotive Electronic Logging Device Market – Macro Economic Scenario
Global Automotive Electronic Logging Device Market Size and Growth

Global Automotive Electronic Logging Device Market Competitive Benchmarking
Global Automotive Electronic Logging Device Market Competitive Dashboard
Key Mergers And Acquisitions In The Automotive Electronic Logging Device Market
Automotive Electronic Logging Device Market Future Outlook and Potential Analysis
Appendix

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