Electronic Logging Device Market Analysis By Growth Rate, Demand and Leading Players Updates by Forecast to 2021-2025

By Ronak Bora

Electronic logging device market revenue graph is slated to depict significant gains over 2019-2025. 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.
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.
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While the initial purpose of ELDs was to monitor & record the time a trucker spends behind the steering wheel, presently, these products are equipped with substantial capabilities other than just tracking Hours of Service (HOS). According to ELDFacts.com, a standard electronic logging device market today is connected to the vehicle’s engine to monitor whether the vehicle is off, on, or in motion. Apart from recording the driver’s shift & the total miles driven, the device also monitors the vehicle’s location. Moreover, the ELD is also capable of transferring collected data over the internet or through a storage device.
These abilities make the ELD a considerably sophisticated & well-equipped device, readily adaptable to changes should they come up in the future. As technological advancements pertaining to these devices surge, electronic logging device market is certain to chart out a successful growth path in the future.
The biggest growth facilitator of electronic logging device market is the global logistics industry. While the dynamics of the logistics industry are quite diverse as on today, encompassing everything ranging from container shipping to air freight, a commercial truck is still the most widely used means of transport. Consequentially, this trend is boosting the growth of the trucking industry which would, in turn, fuel the ELD industry expansion over the coming years.
According to the International Transport Forum, driverless trucks are slated to become a regular presence across a number of roadways within the next decade. Autonomous trucks are already operating across controlled environments such as mines & ports and public road trials are already underway in several regions including the European Union & the United States.
While autonomous trucks enable significant cost savings, safer roads and lower emissions, the most prominent factor that is promoting the commercial launch of driverless trucks is the fact that trucking as a profession is likely to soon reach culmination.
The International Transport Forum found that an estimated 6.4 million truckers would be required throughout the EU and the U.S. by 2030. However, less than 5.6 million are slated to be available & willing to fill those positions.
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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
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/electronic-logging-device-market

About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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