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Electronic Logging Device Market Size, Historical Growth, Analysis, Opportunities and Forecast To 2025

Author : Rahul Varpe | Published Date : 2019-08-05 

The Electronic Logging Device Market size is estimated to surpass USD 16 billion by 2025.Electronic logging devices are predicted to be integrated in commercial vehicles at a rapid pace due to increasing demand as well as mandate for consistent vehicle data monitoring and efficient management of fleet.

The biggest growth facilitator of Electronic Logging Device Market is the global logistics industry. While the dynamics of the logistics industry are quite diverse as on today, encompassing everything ranging from container shipping to air freight, a commercial truck is still the most widely used means of transport. Consequentially, this trend is boosting the growth of the trucking industry which would, in turn, fuel the ELD industry expansion over the coming years.
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Impact of the advent of driverless trucks on the Electronic Logging Device Market

According to the International Transport Forum, driverless trucks are slated to become a regular presence across a number of roadways within the next decade. Autonomous trucks are already operating across controlled environments such as mines & ports and public road trials are already underway in several regions including the European Union & the United States.

The Impetus: While autonomous trucks enable significant cost savings, safer rods and lower emissions, the most prominent factor that is promoting the commercial launch of driverless trucks is the fact that trucking as a profession is likely to soon reach culmination.

The Numbers: The International Transport Forum found that an estimated 6.4 million truckers would be required throughout the EU and the U.S. by 2030. However, less than 5.6 million are slated to be available & willing to fill those positions.

The Need: This aforementioned gap, along with the projected expansion of the logistics sector, have put immense pressure on the driverless trucking industry to hit mass commercialization. This is where ELDs have made their presence felt – while they were initially developed with the sole purpose of monitoring the truck drivers to increase their efficiency, the device, helped by its flexibility, could easily be used to monitor driverless trucks through a centralized fleet management system.

Asia Pacific, a region that is witnessing rapid growth in the use of commercial vehicles, is expected to create considerable scope for the Electronic Logging Device Market expansion. There has been a considerable growth in the trucking industry in the region. For instance, in China, ELD buyers became eligible for a truck scrappage subsidy which is helping the trucking industry flourish in the region and is contributing to the Electronic Logging Device Market share as well. Emerging economies like India will witness a growing demand for commercial vehicles owing to a surging middle-class population and increasing economic developments, which will in turn lead to electronic logging device market growth.

The DoT (Department of Transportation) in the U.S. passed a new legislation that makes it mandatory for all driving hours to be recorded electronically using an ELD instead of the maintaining the traditional paper logbook. The new system came into existence due to ever-increasing accidents and fatalities that occurs on U.S. roads. As per DoT, 15% of the drivers claim that driver fatigue is the main reason for accidents. Mandating ELD in commercial vehicles has lent a massive boost to electronic logging device market outlook.

Browse key industry insights spread across 160 pages with 155 market data tables & 25 figures & charts from the report, “Electronic Logging Device Market ” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/electronic-logging-device-market

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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