Electronic Logging Device Market Impact of COVID-19 Outbreak on with Innovations, Competitive Analysis, New Business Developments
Growth of automotive electronics, deployment of advanced telematics and fleet management solutions across the globe, and increasing investment in development of driver safety systems are the prime forces influencing the growth of the global electronic logging device market. An electronic logging device also known as on-board electronic recorders or automatic on-board recorders is primarily used to monitor and record the hours of service of a commercial vehicle. It helps in monitoring engine health and log activities automatically to improve the reliability and flexibility of recording hours of service. The data is communicated to the back-end fleet management system through telematics for record keeping and monitoring of a vehicle. The mandate for use of electronic logging devices enforced by the Federal Motor Carrier Safety Administration (FMSCA) has contributed towards the growth of electronic logging devices market globally. Additionally, increasing demand for smart fleet solutions fueled by the expanding logistic chains across the globe is expected to fuel the growth of electronic logging devices.
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Advancement in automotive electronics has contributed towards the evolution of electronic logging devices with integration of displays and interface devices for driver convenience. The drivers can manually select the mode of vehicle, on-duty, off-duty or on-duty not driving, along with automatic selection capability based on vehicle movement. The global electronic logging device market is anticipated to witness steady demand in coming years due to disruption in supply chain across the globe amidst the COVID-19. However, the market is anticipated to recover during the latter half of the forecast period owing to business continuity plans and deployment of agile supply chain network across the globe.
Europe contributed the largest share to the global electronic logging device market in 2019 and is anticipated to grow at a steady rate during the forecast period owing to stringent regulations over integration of electronic logging devices in commercial vehicles across the region. North America contributed a prominent share to the global market in 2019 owing to increased demand from expanding commercial fleets across the United States. Asia Pacific is anticipated to be the most lucrative market during the forecast period owing to expanding industrial operations and transportation and logistics industry across major countries in Asia.
The report titled “Electronic Logging Device Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global electronic logging device market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
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The global electronic logging device market is segmented on the basis of component, vehicle type, form factor, and geography. Based on component, the global electronic logging device market is segmented into display, telematics unit, and other. Based on vehicle type, the global electronic logging device market is segmented into light commercial vehicles (LCV), trucks, buses, and others. Based on form factor, the global electronic logging device market is segmented into embedded and integrated. Based on geography, the global electronic logging device market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on electronic logging device. Further, market share of prominent companies in the global electronic logging device market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the electronic logging device companies.