The Automotive Logging Device Market is projected to grow from USD 1224.23 Mn in 2021 to USD 28452.35 Mn by 2032, exhibiting a compound annual growth rate (CAGR) 12.5% during the forecast period (2023 - 2032).
Automotive logging devices or ELDs help capture the working hours of professional vehicle drivers. Biotechnology, medical devices, and construction are some specific industries that utilize these products for gathering essential data about the engine condition and miles driven in a given period. Most companies are now concerned about the well-being and health of their employees, which is why they tend to show interest in this kind of equipment. These ELDs can define major applications that would be very useful in terms of gathering information about a vehicle's movement and vehicle miles driven, as well as its engine condition which is particularly important when moving on long distances.
Growth in the transportation industry, increasing government regulations towards public safety, and increasing automotive trends toward condition monitoring have positively affected the growth of the service offering sector. The improvement in communication technology offerings has also enhanced communication between vehicle operators and vehicle users. However, continuous development of lightweight logging equipment may create limitations for the market scale
One of the major factors affecting the automotive ELD market is the proposed regulations that would require commercial truck drivers to install and use the devices in their vehicles to help improve safety and comply with regulatory safety standards. Since trucking companies are at an increased risk of being involved in accidents, they can greatly benefit from these devices by enabling them to monitor driver behavior, as it ensures that trucks are properly maintained, and makes it possible for companies to reduce operating costs since many hours are no longer wasted driving around.
Automotive vehicle electronic logging device requires a high cost in installation and maintenance. The embedded system in the car is costly; this is the main reason, which is hindering the growth and usage of automotive electronic logging devices. The automobile logging device costs are typically tied to two major pillars: hardware as well as installation and maintenance — all of which can get costly when one considers these options on a global scale. As most technologies move toward digitization, expensive hardware becomes cheaper while app customization becomes easier, thereby lowering overall price points.
The imminent need for operational efficiency in fleet-owning organizations will bring opportunities for automotive logging device market in the years to come. Also, technological advancements will stimulate innovations in this field. For instance, fleet operators are increasingly replacing GPS tracking devices with automotive logging devices because of their ability to analyses user behavior, provide highly accurate and extensive information, are easily installable, and are considerably cheaper than GPS devices.
Based on service type, the global automotive logging device market has been divided into entry level, intermediate, and high level. The intermediate segment holds the largest market share in the global automotive logging device market for the year 2022 owing to the growing technological advancements.
Based on vehicle type, the global automotive logging device market has been divided into lcvs, trucks, buses, and cars. The trucks segment holds the largest market share in the global automotive logging device market for the year 2022. However, The LCVs segment is expected to gain the highest growth due to the growing application of automotive logging devices in commercial vehicles.
By component, the global automotive logging device market has been segmented into display, telematics units, and others. Telematic units holds the largest market share in the global automotive logging device market for the year 2022 as they are the core components for automotive logging device.
By application, the global automotive logging device market has been segmented as integrated and embedded. Embedded segment holds the largest market share in the global automotive logging device market for the year 2022. However, the integrated segment is expected to witness the highest growth in the forecast period.
By region, the global automotive logging device market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Europe accounted for the largest market share in 2020. North America is projected to exhibit the highest CAGR during the review period.
Europe is the largest market for automotive logging devices globally. The European electronic logging device market is expected to hold the largest market share in 2022. In 2006, digital tachographs were mandated in 27 European countries for commercial vehicles. The European continent is expecting a shift from OEMs (Original Equipment Manufacturers) producing only their vehicles, to those that make products just like PACCAR, who now offers the option of installing an ELD into any truck they sell. This step is highly influential on the overall growth of Europe's ELD sector and should lead to a respectable rise in the number of GPS tracking devices installed within commercial vehicles before 2032.
North America is expected to experience the highest CAGR during the forecast period in the global automotive logging device market. ELD devices that are used for commercial vehicles to monitor the driving behaviors of individuals have become a prominent part of an automobile’s safety features. It is now mandatory for any vehicle that operates in the U.S. to have these devices installed. This has allowed a lot of companies to rise and make it their business initiative to create, sell and implement these products in vehicles on a national scale throughout North America.
The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reached across the globe with diverse product portfolios. Companies such as AT&T Business, Blue Tree System, Coretex, and Zonar Systems dominate the global automotive logging device market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are focused on investing in research and development. Furthermore, they adopt strategic growth initiatives, such as expansion, product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.
Prominent players in the global automotive logging device market include AT&T Business, Blue Tree System, Coretex, DriverTech, ELD Solutions, Garmin International, Geotab Inc, Omnitracs LLC, Teletrac Navman, and Zonar Systems.
| Report Attribute/Metric | Details |
| Market Size 2021: | Â Â USD 1224.23 Million |
| Market Size 2032: | Â Â USD 28452.35 Million |
| Â Â CAGR | Â 12.5% CAGR (2023-2032) |
| Â Â Base Year | Â Â 2022 |
| Â Â Forecast Period | Â Â 2023-2032 |
| Â Â Historical Data | Â Â 2018- 2022 |
| Â Â Forecast Units | Â Â Value (USD Million) |
| Â Â Report Coverage | Â Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Â Â Service Type, Vehicle Type, Component, and Form Factor |
| Â Â Geographies Covered | Â Â North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | Â Â AT&T Business, Blue Tree System, Coretex, DriverTech, ELD Solutions, Garmin International, Geotab Inc, Omnitracs LLC, Teletrac Navman, and Zonar Systems |
| Â Â Key Market Opportunities | Â Â The growing need for operational efficiency in fleet-owning organizations. |
| Â Â Key Market Drivers | Â Â Growing government initiatives and regulations for truck drivers |
Automotive Logging Device Market Highlights:
Frequently Asked Questions (FAQ) :
The study period of the global Automotive Logging Device market is 2024–2032
The global Automotive Logging Device market is growing at a CAGR of ~12.5% over the next 10 years
North America is expected to register the highest CAGR during 2024-2032
Europe holds the largest share in 2024
AT&T Business, Blue Tree System, Coretex, DriverTech, ELD Solutions, Garmin International, Geotab Inc, Omnitracs LLC, Teletrac Navman, and Zonar Systems.
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Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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