LONDON, May 09, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the electronic logging device market forecasts the market to grow from $13.5 billion in 2022 to $14.1 billion in 2023, with a CAGR of more than 4%. The electronic logging device market share is then expected to reach $16.5 billion in 2027, growing at a CAGR of more than 4%. Europe was the largest region in the market in 2022.
The demand for electronics in the automotive industry is driving the growth of the electronic logging device market.
Learn More In-Depth On The Electronic Logging Device Market
The electronic logging device market has several key players, including Trimble Transportation, Omnitracs LLC, Teletrac Navman Ltd., Geotab Inc., Donlen Corporation, Verizon Connect, Blue Ink Tech, CarrierWeb USA, TomTom International, Assured Techmatics, BigRoad Inc., Coretex, Transflo, Wheels Inc., EROAD Company, Fleetup, Gorilla Safety, Drivewyze, LINXUP, InTouch GPS, Fleet Complete, and Stoneridge Inc.
Product innovation is a significant trend in the electronic logging device industry. To maintain their market position, major companies are continuously developing new products. Trucker Path, for instance, introduced Geotab ELD and telematics technologies in November 2022, expanding its product portfolio. The new product provides electronic logging device technology for hours of service and driver's vehicle inspection report compliance, while telematics provides vehicle utilization, performance, health assessments, and other features.
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The global electronic logging device market is segmented as-
1) By Component: Telematics Unit, Display, Other Components
2) By Form Factor Type: Embedded, Integrated
3) By Vehicle Type: Light Commercial Vehicles, Truck, Bus
The electronic logging device market report provides a comprehensive overview of the global market, highlighting its growth potential, key drivers, major players, and key trends. The report also provides insights into the impact of various socio-economic factors that might impact the market.
Electronic Logging Device Global Market Report 2023 by The Business Research Company provides insights on the electronic logging device market size, electronic logging device market segments, electronic logging device market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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