19 March 2021
Visiongain has published a new report on Electronic Logging Device Market Report to 2031: Forecasts by By Component Type (Engine Module, Display and Telematics) By Form Factor (Integrated, Embedded) By Service (Entry & Intermediate level, High-end) By Vehicle TypeType (LCV, Buses, Trucks). PLUS Profiles of Leading Electronic Logging Device Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Electronic Logging Device Market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2031. The market is anticipated to witness positive growth over the forecast period, despite the disruptions created by COVID-19 in the year 2020. The growth of the market can be attributed to the increased adoption of logging devices in the developed part of world i.e. Europe and North America.
COVID-19 Impact on Electronic Logging Device Market
COVID-19 negatively impacted the electronic logging device market negatively due to restricted public movement and limited economic activities in first few months after the spread of the virus. This in turn led to downturn in the demand for Electronic Logging Device. However, resumption of economic activities, opening of international borders and exports, increased demand for personal mobility and growing prevalence for shared mobility across the world is expected to boost the demand for Electronic Logging Device. Electronic logging device market is anticipated to witness single digit compound annual growth rate between the forecast period 2021 and 2031.
Growing demand for next-gen mobility solutions such as shared mobility is expected to act as key driver for the demand or electronic logging devices as the growing shared fleet will need increased operational efficiency by the fleet owners. Furthermore, favorable policies by local governments in the developed region which requires deployment of electronic logging devices will further boost the market growth. One such example is the deployment of digital tachograph for fleet owners.
Significant opportunity exists in the new technology Electronic Logging Devices, major players compete on technology and cost as key differentiation product to win the market. Further, opportunity also exists in harnessing the data collected from ELD which can be further monetized through a new revenue stream. From regional perspective, growth opportunities exist in the developing part of the world, i.e. regions such as Asia Pacific and Middle East & Africa by making fleet owners aware regarding the operational efficiency and other benefits that can be achieved from electronic logging devices.
Some of the company’s profiled in this report include WorkWave, AT&T, Verizon, Leaseplan USA, Tomtom Telematics, Trimble, Omnitracs, Teletrac Navman, Geotab, Donlen. Additional companies’ active in the market includes Garmin, Masternaut, Wheels, Vector Informatik, Racelogic, Intrepid Control Systems, HEM Data Corporation, Influx Technology, Danlaw Technologies CarrierWeb, Blue Ink Technology, KeepTruckin, ORBCOMM, Pedigree Technologies, Samsara, Stoneridge, Teletrac Navaman, Transflo, Trimble, Wheels Inc. and Others. Tomtom Telematics now operates as Webfleet Solutions post its acquisition by Bridgestone Europe in April 2019. In 2019, TomTom Telematics offered its connected car solution to ONE Lease that enables the company’s vehicle management.
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