Stratview Research has published a new report titled “Electronic Logging Device Market” which is segmented by Component Type (Display and Telematics Unit), by Form Factor Type (Embedded and Integrated), by Vehicle Type (Truck, Bus, and LCV), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, The Electronic Logging Device market has been witnessing substantial growth in the past couple of years. The market is expected to experience a CAGR of 3.8% during the forecast period. The prime prevalence of political unrest and war-like situations among several countries is encouraging government authorities to increase their defense capabilities and stay prepared during crises.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
Based on the component type, the electronic logging device market is segmented as display and telematics unit. The telematics unit segment dominates the market as it facilitates services such as calculating the driver’s hours of service; monitoring the vehicle’s condition, fuel efficiency, and tax report; and transmitting data through a GSM module. Further, telematics unit of an electronic logging device includes electronic logs, CO2 emission, vehicle inspection, fuel tracking, temperature monitoring, and more, fueling the growth of the segment during the forecast period.
Based on the form factor type, the electronic logging device market is segmented as embedded and integrated. The embedded segment dominates the market owing to the rapid adoption of electronic logging device in developed regions, particularly in North America and Europe. Embedded electronic logging devices offer more features and are secure and reliable.
Based on the vehicle type, the electronic logging device market is segmented as trucks, buses, and LCVs. The trucks’ segment dominates the market owing to a high demand for the transportation of varied goods globally while challenges, such as a shortage of drivers and truck capacity, have made it crucial to manage the available resources with high efficiency.
Which Region is expected to remain the largest market?
In terms of regions, Europe is estimated to have held the largest market share in 2020 as since 2006 digital tachographs were mandated in 27 European countries for commercial vehicle. The ongoing and upcoming organic and inorganic growth strategies devised by players in the market would lead to a significant upsurge in the market in Europe during the forecast period. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Electronic Logging Device Market:
- AT&T Fleet Complete
- Blue Ink Technology
- Garmin ELD
- Pedigree Technologies
- Teletrac Navaman
- TomTom Telematics
- Verizon Connect
- Wheels Inc.
Key questions answered by the report
- What is the projected CAGR for revenue from the Electronic Logging Device Market during the forecast period?
- What would be the market be valued at by 2026?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Electronic Logging Device Market?
- Which are the major market players?
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