Global Electronic Logging Devices (ELDs) Market Report and Forecast 2024-2032

Global Electronic Logging Devices (ELDs) Market Outlook

The global electronic logging devices (ELDs) market size was valued at USD 14.39 billion in 2023. The market is further projected to grow at a CAGR of 2.9% between 2024 and 2032, reaching a value of USD 18.62 billion by 2032.

Key Takeaways

• Approximately 600,000 light commercial vehicles were sold in India during the 2023 fiscal year.

• In England, the number of bus passenger journeys rose by 19.3% in 2023.

• Commercial trucks and buses must have an ELD, according to the 2015 ELD rule published by the Federal Motor Carrier Safety Administration (FMCSA).

Electronic logging devices (ELDs) are devices that record the driving hours and status of commercial motor vehicle drivers. ELDs are intended to replace paper logs and ensure compliance with the hours-of-service regulations that limit driver fatigue and prevent accidents. The global electronic logging devices market is expected to grow at a significant rate due to various factors, such as the increasing government mandates to adopt ELDs in various countries, such as the US, Canada, Mexico, and Brazil, to enhance road safety and reduce greenhouse gas emissions.

The demand for electronic logging devices (ELDs) have been accelerating due to the rising demand for fleet management solutions that provide real-time data on vehicle location, fuel consumption, driver behaviour, and vehicle diagnostics. The growing adoption of cloud-based and wireless technologies that enable remote access and data transfer between ELDs and fleet management software are among key market trends.

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Key Trends and Developments

Rising regulatory compliance for ELD usage, advancements in ELD features, and growing demand for fleet management solutions are boosting the electronic logging devices (ELDs) market growth

Global Electronic Logging Devices (ELDs) Market Trends

The use of ELDs to improve the quality of driving is growing significantly as it helps owners of commercial vehicles track drivers’ driving patterns. The use of ELDs also offers drivers real-time notifications of the vehicle component condition, making maintenance and repair work more manageable. These advantages drive the rate of adoption of ELDs and thus result in electronic logging devices (ELDs) market expansion.

Furthermore, the integration of ELDs with mobile devices to monitor the different aspects of automobiles and service requirements is expected to aid the electronic logging devices (ELDs) market value in the coming years. Software developers are progressively focusing on developing applications for smartphones related to electronic logging devices (ELDs) to capitalise on the growing need for vehicle behaviour monitoring. Such apps can synchronise information between digital company logging devices and smartphones of drivers. Therefore, mobile device integration with ELDs will be a key factor for electronic logging devices (ELDs) market development.

Additionally, the emergence of advanced features in ELDs, such as voice recognition, biometric authentication, driver scorecards, and crash detection will accelerate electronic logging devices (ELDs) market growth over the forecast period. This is because these features improve driver performance and customer satisfaction.

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Market Segmentation

Global Electronic Logging Devices (ELDs) Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Light commercial vehicles hold a significant market share due to increasing demand for last-mile delivery and use of ELDs can reduce fuel consumption

In types of vehicles, light commercial vehicle segment is anticipated to lead the electronic logging devices (ELDs) market share in the forecast period due to the increasing demand for last-mile delivery, e-commerce, and ride-hailing services. Moreover, the adoption of ELDs in light commercial vehicles can help reduce fuel consumption, maintenance costs, and emissions, as well as improve driver behaviour and customer satisfaction.

Trucks include semi-trailers, tractor-trailers, dump trucks, tankers, and flatbeds. According to electronic logging devices (ELDs) market analysis, the implementation of ELDs in trucks can help enhance the safety and productivity of drivers and fleet managers, as well as ensure compliance with the federal motor carrier safety administration (FMCSA) mandate in the US and similar regulations in other countries.

The ELD market for buses is expected to witness a moderate growth rate during the forecast period, due to the increasing demand for public transportation, tourism, and charter services. The adoption of ELDs in buses can help improve the operational efficiency, performance of bus operators, and provide better service quality and safety for passengers.

Embedded and integrated ELDs contributes to market growth due to their reliability, flexibility, and lower maintenance costs

The global electronic logging devices (ELDs) market can be segmented by form into embedded and integrated. Embedded ELDs are installed in the vehicle’s engine control module (ECM) and communicate with the driver’s smartphone or tablet via Bluetooth or USB. Integrated ELDs are connected directly to the vehicle’s dashboard and display the driving data on a screen.

The electronic logging devices (ELDs) market estimates that embedded ELDs are more reliable and secure, as they do not depend on the driver’s phone or tablet for connectivity and data transmission. They also have lower upfront costs, as they do not require additional hardware or installation fees. Some examples of embedded ELDs made by electronic logging device companies are Garmin eLog, Omnitracs IVG, and Stoneridge EZ-ELD.

Integrated ELDs, on the other side, are more flexible and versatile, as they can be used with any vehicle that has a diagnostic port and a power source. They also have lower maintenance costs, as they can be easily updated and transferred between vehicles. However, they may have higher upfront costs, as they require a dedicated device or a subscription fee for the display and connectivity.

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Competitive Landscape

Market leaders are unveiling smart EDL technologies to cater to the evolving landscape of fleet management, further engaging in partnerships to strengthen their market presence

Other global electronic logging devices (ELDs) market key players include Donlen Corporation, Garmin Ltd., AT&T Inc., WorkWave LLC, and Verizon Communications Inc., among others.

Global Electronic Logging Devices (ELDs) Market Analysis by Region

North America is one of the leading regions due to the high adoption rate of ELDs among commercial vehicle operators

The North American region is anticipated to hold a dominant position in the electronic logging devices (ELDs) market due to the high adoption rate of ELDs among commercial vehicle operators, especially in the US and Canada. The implementation of the Federal Motor Carrier Safety Administration (FMCSA) mandate in 2015, which required all drivers of commercial motor vehicles to use ELDs instead of paper logs, has been a major driving factor for the electronic logging devices (ELDs) market growth in this region. Moreover, the presence of leading ELD providers, such as Omnitracs, Trimble, and Geotab, and the increasing demand for fleet management solutions, such as fuel efficiency, driver safety, and vehicle maintenance, are also contributing to the electronic logging devices (ELDs) market expansion in North America.

The Asia Pacific electronic logging devices (ELDs) market is anticipated to witness the fastest growth rate due to the rapid development of the transportation and logistics sector, the growing awareness of the benefits of ELDs, and the rising government initiatives to promote road safety and environmental protection. China, India, Japan, and Australia are some of the key markets for ELDs in this region, where the adoption of ELDs is increasing due to the growing need for compliance with regulatory standards, such as the Hours of Service (HOS) and the Driving Time Management System (DTMS). Additionally, the emergence of local ELD vendors, such as Shenzhen Huabao Electronics Technology, Ruptela, and Eroad, and the availability of low-cost ELD solutions are also boosting the electronic logging devices (ELDs) market size in Asia Pacific.

The Latin American region is also expected to exhibit a considerable growth rate in the market due to the increasing adoption of ELDs among commercial vehicle operators, especially in Brazil, Mexico, and Argentina. According to electronic logging devices (ELDs) market report, the factors influencing the market’s growth in this region include the growing need for reducing operational costs, enhancing driver productivity, and ensuring compliance with the HOS regulations. Furthermore, the rising demand for telematics solutions, such as vehicle tracking and fuel monitoring, and the presence of many ELD providers, such as Continental, Stoneridge, and Autotrac, are also supporting the electronic logging devices (ELDs) market development in Latin America.

Key Highlights of the Report