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The growth in the trucking industry in BRIC countries is significantly influencing the electronic logging device market growth. China, being the leading global manufacturer for several industries, has a high demand for efficient freight transportation. Moreover, the subsidies in China for eliminating high polluting diesel trucks and incentives for electric bus buyers will influence the increase in sales of new commercial vehicles. The countries, such as India, with high middle-class population are witnessing rapid growth in the commercial vehicle industry. The economic developments and rise in the manufacturing activities will further flourish the electronic logging device market growth in these countries.Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/2057047/
The connected vehicle technologies and growth in digitization are other significant factors boosting the electronic logging device market growth. These technologies are further pushing the sensor technology developments as well as advancements in telematics technologies. Video telematics, vehicle inspections, and tax reporting are some of the recent developments in the electronic logging device market. The use of these devices has contributed to vehicle safety. Connected vehicles and advanced telematics are helping route optimizations, making the driving safer & efficient. Video telematics can record video clips, which can help in the event of an accident to detect mistakes and save the lives of drivers. Moreover, these devices can detect the driving style of a driver, which helps in reducing the harsh driving. This helps to analyze the effect of driving on tire and other vehicle components to minimize maintenance costs. The electronic logging device market is witnessing considerable growth due to these advantages.
Electronic Logging Device Market is expected to reach over USD 16 billion by 2025. These devices gained wide importance with the growing government mandates for driver’s hours of service. Developed countries, such as the U.S., have enforced regulations to keep track of the driving hours, vehicle condition, and many other parameters. New features, such as vehicle tax reporting and monitoring driver style, have influenced the electronic logging device market. Driver information, such as driver logon/logoff, personal use, and certificate on driver’s daily record, has become crucial for fleet management service providers to maximize the operational efficiency & productivity through the vehicles owing to the shortage of drivers and management of high truck capacities. According to the American Truck Association, nearly 71% of the freight tonnage moved to the U.S. goes on trucks. The driver shortage in the U.S. stood at 36,500, whereas it was estimated to be more than 50,000 in 2017. This issue has made it crucial to carry more goods by using current capacities, which is influencing the electronic logging device market growth.
The leading companies in the electronic logging device market, such as Donlen, Keeptrukin, and AT&T, are trying to include more monitoring features in the devices. Keeptrukin provides vehicle utilization, smart dashcam, asset tracking, and driver workflow features in its devices. Moreover, investment in software & applications is the key area of focus by companies augmenting the electronic logging device market. These platforms can be used on a driver?s smartphone and other devices to track information. The companies are shifting toward partnerships for developing technologies & platforms. Donlen made a partnership with Ford in April 2019, to provide fleet vehicle data services, which will use Transportation Mobility Cloud (TMC), an open platform by Ford, allowing the integration of current vehicle data with Ford?s modems.
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The electronic logging device market despite the growing popularity is witnessing some challenges, which can hamper the growth considerably. The ELD mandate in the U.S. even after a year of going into effect has faced growing resistance from drivers. The Federal Motor Carrier Safety Administration did not provide the necessary training to law enforcement officers till November 2018. As a result, many officers were not ready to take action. The people spend a lot of time to challenge the violations filed by officers. Another challenge to the electronic logging device market is the technical specifications as many manufacturers fail to meet the required technical specifications, resulting in the use of cheap systems, particularly by small carriers
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Electronic Logging Device Industry Insights
Chapter 4. Electronic Logging Device Market, By Component
Chapter 5. Electronic Logging Device Market, By Form Factor
Chapter 6. Electronic Logging Device Market, By Vehicle Type
Chapter 7. Electronic Logging Device Market, By Region
Chapter 8. Company Profiles
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https://www.marketstudyreport.com/reports/global-electronic-logging-device-eld-market-insights-forecast-to-2025
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