Analyzing Electronic Logging Device (ELD) Market: Global Industry Perspective and Forecast (2024 to 2031)
The "Electronic Logging Device (ELD) Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Electronic Logging Device (ELD) market is expected to grow annually by 8.6% (CAGR 2024 - 2031).
This entire report is of 173 pages.
Electronic Logging Device (ELD) Introduction and its Market Analysis
The Electronic Logging Device (ELD) market research reports indicate a strong market condition driven by government regulations mandating the use of ELDs in commercial vehicles. ELDs help in monitoring and recording driver's hours of service to ensure compliance with safety regulations. The target market for ELDs includes trucking companies, fleet owners, and transportation companies. Major factors driving revenue growth in the ELD market include increasing demand for fleet management solutions, need for improved driver safety, and advanced features such as real-time tracking and automated logging. Market analysis of companies such as OneView, KeepTruckin, EROAD, FleetUp, Gorilla Safety, Big Road, InTouch GPS, Telogis, PeopleNet, Omnitracs, and Geotab show strong competition and innovation in the ELD market. The main findings of the report highlight the rapid market growth, technological advancements, and the need for seamless integration with existing fleet management systems. Recommendations include focusing on product differentiation, expanding market presence, and investing in research and development to stay competitive in the ELD market.
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The Electronic Logging Device (ELD) market is experiencing significant growth, especially with the implementation of regulations such as the Hours of Service (HOS) rules. The market is segmented based on the type of devices, including AOBRD and ELD, as well as the application in different industries such as Trucking, Taxi services, Buses, and others.
Regulatory and legal factors play a crucial role in shaping the market conditions for ELDs. For instance, the Federal Motor Carrier Safety Administration (FMCSA) mandates that commercial motor vehicles must use certified ELDs to record driver's Hours of Service. This has created a surge in demand for compliant devices in the market. Additionally, penalties for non-compliance with these regulations further drive the adoption of ELDs in the industry.
Overall, the ELD market is witnessing significant growth due to the increasing need for accurate and real-time tracking of drivers' hours for safety and regulatory compliance. As more industries embrace digital solutions for monitoring driver behavior, the market is expected to continue its upward trajectory in the coming years.
Top Featured Companies Dominating the Global Electronic Logging Device (ELD) Market
The Electronic Logging Device (ELD) market is highly competitive with numerous players operating in the industry. Some of the key companies in the market include OneView, KeepTruckin, EROAD, FleetUp, Gorilla Safety, Big Road, InTouch GPS, Telogis, PeopleNet, Omnitracs, and Geotab.
These companies offer a wide range of ELD solutions that help fleet operators comply with FMCSA regulations, improve operational efficiency, and enhance driver safety. They provide features such as real-time tracking, electronic logs, driver performance monitoring, and vehicle diagnostics.
OneView, KeepTruckin, EROAD, and FleetUp are known for their user-friendly interfaces and advanced reporting capabilities. Gorilla Safety and Big Road provide affordable ELD solutions tailored for small fleets, while InTouch GPS offers a comprehensive fleet management platform with ELD integration.
Telogis, PeopleNet, Omnitracs, and Geotab are established players in the market, offering reliable ELD solutions with a strong focus on data security and scalability.
These companies grow the ELD market by leveraging technology advancements, expanding their product offerings, and partnering with industry stakeholders. By providing innovative ELD solutions, they enable fleet operators to streamline their operations, reduce costs, and improve compliance.
In terms of sales revenue, KeepTruckin and EROAD are two of the leading companies in the ELD market, with annual revenues exceeding $100 million. OneView, FleetUp, and Geotab also report strong sales figures, contributing to the overall growth of the ELD market.
- OneView
- KeepTruckin
- EROAD
- FleetUp
- Gorilla Safety
- Big Road
- InTouch GPS
- Telogis
- PeopleNet
- Omnitracs
- Geotab
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Electronic Logging Device (ELD) Market Analysis, by Type:
- AOBRD
- ELD
- Hours of Service(HOS)
AOBRD (Automatic On-Board Recording Device) tracks a driver's hours of service through automated data recording. ELD (Electronic Logging Device) is a more advanced system that synchronizes with a vehicle's engine to accurately record driving hours. Both devices help drivers comply with HOS regulations, ensuring they take required rest breaks. The enforcement of HOS rules by authorities has boosted demand for ELDs, as they offer more precise and reliable monitoring of driver activity. The ELD market is expanding rapidly as fleets seek to improve compliance, efficiency, and safety through the use of advanced electronic tracking systems.
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Electronic Logging Device (ELD) Market Analysis, by Application:
- Truck
- Taxi
- Bus
- Others
The Electronic Logging Device (ELD) is used in various applications such as trucks, taxis, buses, and other commercial vehicles to accurately track and record driving hours to ensure compliance with government regulations. ELDs are connected to the vehicle's engine to automatically record driving time, breaks, and rest periods. This data is then transmitted to a centralized system for easy access and monitoring. The fastest growing application segment in terms of revenue is the trucking industry, as ELDs are increasingly becoming mandatory for all commercial trucks to improve safety and compliance with hours of service regulations.
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Electronic Logging Device (ELD) Industry Growth Analysis, by Geography:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The Electronic Logging Device (ELD) market is expected to experience significant growth in regions such as North America, Europe, Asia-Pacific, the USA, and China. North America is expected to dominate the market with a market share of 40%, followed by Europe with 25%, the USA with 20%, and China with 10%. The APAC region is also anticipated to witness substantial growth, contributing to 5% of the market share. Overall, the ELD market is projected to expand rapidly across all regions due to the increasing demand for advanced fleet management and compliance solutions in the transportation industry.
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