Electronic Logging Devices (ELDs) Market forecasted to witness revenue growth of USD 3167.7 mn through 2023-2027
The Global Electronic Logging Devices (ELDS) Market is estimated to exhibit growth at a CAGR of 4.69% between 2023 and 2027 followed by a revenue growth of USD 3,167.7 million. The usage of ELDs to enhance the quality of driving, the rising preference for road transportation, and the need to comply with regulatory requirements are some of the major determinants that are contributing to market advancements. Countries like the US, Germany, Canada, Japan, UK are some of the leading names when it comes to Electronic Logging Device (ELDS) usage.
Electronic Logging Devices (ELDs) Market at a Glance
Navigating through the eccentric business drivers of the Electronic Logging Devices (ELDs) Market:
ELDs offer real-time information on truck location, driver status on fleet management, and fuel consumption, helping to reduce fuel costs and optimize fleet operations, thus fueling the preference for road transportation in turn driving the demand for ELDs.
Increasing preference for road transportation in emerging countries like China and India, particularly for last-mile delivery, will lead to an increase in heavy, medium, and light-duty vehicles on the roads owing to Limited connectivity and high rail freight costs, the preferred mode is cargo transport. When it comes to Developed countries like the US, trucks handle a significant portion of freight tonnage due to inadequate freight services.
Core companies of the Electronic Logging Devices (ELDs) Market: AT and T Inc., Danlaw Technologies India Ltd., Donlen Corp., EROAD Inc., Garmin Ltd, Geotab Inc., HOS247 LLC, InTouch GPS, Intrepid Control Systems Inc., Masternaut Ltd., Merchants Fleet, Omnitracs LLC, ORBCOMM Inc., Pedigree Technologies LLC, RACELOGIC Ltd., Samsung Electronics Co. Ltd., Teletrac Navman US Ltd, TomTom International BV, Trimble Inc., and Verizon Communications Inc. etc are some of the leading names in the Electronic Logging Devices (ELDs) Market landscape. Our report includes qualitative and quantitative analyses of market leaders with a wider understanding of the business ecosystem. Download our sample report for more insights.
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