IMARC Group, a leading market research company, has recently releases report titled “Automotive Logging Device Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive logging device market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Automotive Logging Device Market?
The global automotive logging device market size reached US$ 13.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.67% during 2023-2028.
What is Automotive Logging Device?
An automotive logging device, also known as an electronic logging device (ELD), refers to an instrument used in vehicles to monitor and track the driving time and maintain records regarding the hours of service (HOS). It consists of a tracking device that connects to the automobile, mobile application, or fleet management software. Automotive logging devices are placed in the onboard diagnostics (OBD) ports of vehicles to gather information about the engine condition, power, distance covered, hours, movement, etc. They assist in conducting automobile diagnostics for location tracking, optimizing fuel consumption, route management, streamlining operations, etc. As such, automotive logging devices find extensive utilization in trucks, buses, light commercial vehicles, cars, etc.
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What are the growth prospects and trends in the automotive logging device industry?
The expanding automotive industry across countries is primarily driving the automotive logging device market. Besides this, the widespread usage of these instruments in checking the health of vehicular components and tracking the working hours of drivers is further augmenting the market growth.
Apart from this, the integration of automotive logging devices with smartphones for detecting issues and recording information about automobiles is also catalyzing the global market. Moreover, the elevating popularity of the Internet of Things (IoT)-enabled sensors for remote tracking of engine health is acting as another significant growth-inducing factor.
Furthermore, the growing need for commercial vehicles and trucks and the implementation of stringent vehicular safety regulations by government bodies to ensure the safety and security of passengers are expected to bolster the automotive logging device market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Display
- Telematics Unit
- Others
Breakup by Service Type:
- Entry Level
- Intermediate
- High Level
Breakup by Form Factor:
- Integrated
- Embedded
Breakup by Vehicle Type:
- Light Commercial Vehicles
- Trucks
- Bus
- Cars
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ATT Inc., Coretex USA Inc, DriverTech, ELD Solutions, Garmin Ltd, Geotab Inc., KeepTruckin Inc., Omnitracs LLC, Orbcomm, Teletrac Navman US Ltd (Vontier Corporation) and Zonar Systems (Continental AG).
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