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 market for electronic logging devices will be significantly impacted by the growing demand for operational efficiency in fleet-owning businesses. Additionally, it is anticipated that both current and future mandates pertaining to electronic logging devices would propel the demand for these devices.
Intermediate service type is expected to be the largest market for electronic logging device market, by service type”
The service package known as intermediate services consists of some add-on services and entry-level services. Alerts, GPS tracking, and ELD compliance are some of the supplemental services. Most users of these services are fleet owners with mid-sized and larger vehicles. Due to their major mid- and large-sized fleet operations, Europe and North America are predicted to have the largest markets for intermediate services. Fleet owners require tracking services, data administration, data analysis, driver hours of service, and other services due to the growth in the size of their fleets. Fleet owners like intermediate services because they can meet all of these requirements.
Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=48299833
“Display is expected to be the fastest growing market for electronic logging device market, by component type”
Over the projected period, the display market is anticipated to develop at the fastest rate. Due to the increased cost of the electronic logging device, the adoption rate of the display unit is now low. Since it depends on the user’s needs, the display is not a standard component for electronic logging devices. The main barrier to display adoption among small fleet owners is cost. However, given to its advantages, it is anticipated that display will see widespread adoption in the future. A display unit is made up of hardware and software that offers various forms of information and entertainment to fleet owners and drivers. Users can access GPS tracking, the internet, a time-control system, improved communication services, and more through the display.
Europe is expected to lead the electronic logging device market for new vehicle service as well as aftermarket service due to high vehicle sales
Due to its stable economy, technical improvements, and nearly 100% installation rate of digital tachographs in commercial vehicles, Europe is anticipated to hold the highest share of the global market for electronic logging devices in 2018. The UK, France, Spain, Russia, and Germany are the region’s important nations. 27 European nations made digital tachographs required for commercial cars in 2006. In addition to manufacturing, OEMs are expected to place a greater emphasis on providing in-built electronic logging devices for commercial vehicles in Europe. The market for electronic logging devices in Europe will significantly increase as a result of participants in the market’s current and future organic and inorganic growth strategies.
Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=48299833
Key Market Players
The electronic logging device market is dominated by the global players and includes several regional players. Some of the key players in the electronic logging device market are Omnitracs (US), Trimble (US), Geotab (Canada), Donlen (US), and Teletrac Navaman (US).
Related Reports
Automotive Telematics Market – Global Forecast to 2027
Automotive Data Logger Market – Global Forecast to 2025
Automotive Diagnostic Scan Tools Market – Global Forecast to 2026
