The electronic logging device market is estimated to be USD 12.5 billion in 2018 and is projected to reach USD 16.6 billion by 2025, at a CAGR of 4.13%
NEW YORK, April 2, 2019 /PRNewswire/ -- Increasing demand for fleet management and its operational efficiency is expected to drive the market for electronic logging device
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The electronic logging device market is estimated to be USD 12.5 billion in 2018 and is projected to reach USD 16.6 billion by 2025, at a CAGR of 4.13%. One of the major driving forces in the European market is the regulation related to an electronic logging device known as the digital tachograph. Digital tachograph has been mandated in Europe since 2006 for all commercial vehicles with GVWR higher than 3.5 tons. Hence, in the current period, majority of the new LCVs are factory-fitted with digital tachographs, and going forward all the LCVs should have digital tachograph.
High-End service type is expected to be the fastest growing market for electronic logging device, by service type
High-End services are the service package that includes entry-level services, intermediate service, and some add-on services.Add-on services include IFTA fuel tax reporting, vehicle utilization, vehicle diagnostics, and driver scorecards.
These services are generally preferred by large-sized fleet owners.High-end services help companies collect and analyze operations data to enhance the decision-making process, increase efficiency, and reduce costs.
They also enable measurement, monitoring, and management of commercial vehicle operations in real time. With the increase in fleet size, fleet owners demand additional services and hence are expected to prefer high-end services.
Europe is expected to be the largest market for electronic logging device
Europe is estimated to hold the largest market share in the electronic logging device market in 2018 due to the economic stability and technological advancements.Europe is expected to witness significant growth opportunities during the forecast period in the electronic logging device market through innovations, mergers & acquisitions, partnerships, smartphone technologies, and government mandates.
In Europe, almost 100% of the commercial vehicles are equipped with digital tachographs.The key countries of the region are the UK, France, Spain, Russia, and Germany.
The ongoing and upcoming organic and inorganic growth strategies devised by players in the market would lead to a significant upsurge in the electronic logging device market in Europe.
In-depth interviews were conducted with CEOs, marketing directors, innovation and technology directors, and executives from various key organizations operating in the electronic logging device market.
• By Company Type: Tier 1 - 53%, Tier 2 - 33%, and Tier 3 - 14%
• By Designation: C level - 60%, D level - 30%, Other - 10%
• By Region: North America - 39%, Europe - 23%, Asia Oceania — 38%
Note: Tier 1 (Hardware Providers), Tier 2 (Service providers), others (OEM, Industry experts).
The electronic logging device market is dominated by global players and includes several regional players.Some of the key players in the electronic logging device market are Omnitracs (US), Trimble (US), Geotab (Canada), Donlen (US), and Teletrac Navaman (US).
The study includes an in-depth competitive analysis of these key players in the electronic logging device market, with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
Research Coverage
The electronic logging device market has been segmented on the basis of type of vehicle type (LCV, Truck, Bus); form factor type (embedded, integrated); component (display, telematics unit, other); service (entry level, intermediate, high-end); aftermarket (entry level, intermediate, high-end); and region [Asia Pacific (China, Japan, India, South Korea, Thailand, and Rest of Asia Oceania), Europe (UK, Germany, France, Spain, Russia, Turkey, and Rest of Europe); North America (US, Canada, and Mexico); and Rest of the world (Brazil, Iran, and Others)].
Key Benefits of Buying the Report:
This report provides insights with reference to the following points:
• Market Size, by vehicle type: The report offers in-depth market sizing and forecast up to 2025, by vehicle type such as LCV, Truck, Bus. The market sizing by vehicle type is covered at the regional levels that are considered under this study. The market size represents the demand for new electronic logging device hardware.
• Market Size, by components: The report offers in-depth market sizing and forecast up to 2025, by component such as Display, Telematics unit, and Others. The market sizing for components is covered at a regional level.
• Market Size, by service: The report offers in-depth market sizing and forecast up to 2025, by new vehicle service as well as by aftermarket service types such as entry level, intermediate, and High-End. The market sizing for service is covered for regions considered in the study.
• Market Size, by form factor: The report offers in-depth market sizing and forecast up to 2025, by component such as embedded and integrated. The market sizing for components is covered at a regional level
• The report provides "Market Share" of the leading players in the electronic logging device market.
• Market Development: The report provides comprehensive information about lucrative emerging markets for electronic logging device across regions.
• Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming technologies, and new product launches in the electronic logging device market.
Market Diversification: The report offers detailed information about untapped markets, investments, new products, and recent developments in the electronic logging device market.
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