Market Outlook
According to the report, the United States electronic logging devices (ELDs) market reached a value of USD 4.89 billion in 2023. Aided by the growing efforts to improve road safety, the market is projected to further grow at a CAGR of 4.8% between 2024 and 2032 to reach a value of USD 7.55 billion by 2032.The push towards ELD adoption stems from a concerted effort to improve road safety by enforcing stricter adherence to HOS regulations, thereby reducing driver fatigue - a leading cause of commercial vehicle accidents. The Federal Motor Carrier Safety Administration (FMCSA) has been at the forefront of this initiative, advocating for the use of ELDs to facilitate easier and more effective monitoring of compliance with driving hours regulations.
According to the United States electronic logging devices (ELDs) market analysis, the ELD mandate is part of a broader movement towards digitalisation within the transportation sector, streamlining operations and enhancing efficiency. By automating the recording of driving hours, ELDs not only help in compliance management but also offer fleet operators insights into vehicle performance and operational dynamics, paving the way for optimised fleet management practices.
The United States electronic logging devices (ELDs) market outlook is being influenced by a dynamic competitive landscape, with a mix of established players and emerging technology startups vying for market share. These companies offer a range of ELD solutions, from basic models that meet minimum regulatory requirements to advanced systems integrated with telematics and fleet management software.
One of the key factors propelling the market is the growing recognition of the operational benefits of ELDs beyond compliance, including improved route planning, fuel management, and vehicle maintenance tracking. Additionally, the data collected by ELDs can be leveraged for analytics, offering valuable insights into driver behaviour, vehicle utilisation, and efficiency improvements.
Regulatory compliance remains the primary driver of the United States electronic logging devices (ELDs) market growth. However, as the market matures, the focus is increasingly shifting towards leveraging ELD data for strategic business advantage. This includes optimising logistics operations, enhancing customer service, and adopting more sustainable transportation practices.
Looking ahead, the ELD market is set to evolve with advancements in technology and changes in regulatory frameworks. The integration of ELDs with other in-vehicle technologies and external systems, such as Electronic Toll Collection (ETC) systems and freight matching platforms, is expected to offer new efficiencies and business models in the logistics sector.
Market Segmentation
The market can be divided based on form, component, vehicle type, and region.Market Breakup by Form
- Embedded
- Integrated
Market Breakup by Component
- Telematics
- Engine Module
- External Display
- Others
Market Breakup by Vehicle Type
- Light Commercial Vehicle
- Truck
- Bus
- Others
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States electronic logging devices (ELDs) market. Some of the major players explored in the report are as follows:- Trimble Inc.
- Omnitracs, LLC
- Teletrac Navman Ltd.
- Geotab Inc.
- Donlen Corporation
- Garmin Ltd.
- Others
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Table of Contents
Companies Mentioned
- Trimble Inc.
- Omnitracs LLC
- Teletrac Navman Ltd.
- Geotab Inc.
- Donlen Corporation
- Garmin Ltd.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 155 |
Published | February 2024 |
Forecast Period | 2024 - 2032 |
Estimated Market Value ( USD | $ 5.2 Billion |
Forecasted Market Value ( USD | $ 7.6 Billion |
Compound Annual Growth Rate | 4.8% |
Regions Covered | United States |
No. of Companies Mentioned | 6 |