The global automotive logging device market size reached US$ 13.10 Billion in 2021 and is projected to reach US$ 17.66 Billion by 2027, CAGR of 4.60% 2022-2027.
SHERIDAN, WYOMING, USA, July 27, 2022 /EINPresswire.com/ — The latest research study “Automotive Logging Device Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive logging device market size reached a value of US$ 13.10 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.66 Billion by 2027, exhibiting at a CAGR of 4.60% during 2022-2027.
Electronic logging devices (ELDs), commonly referred to as automobile logging devices (ALDs), are tools used in vehicles to track driving time and keep records of employee hours (HOS). It consists of a vehicle-connected tracking gadget, a smartphone app, or fleet management software. Automotive logging devices are installed in the onboard diagnostics (OBD) ports of vehicles to collect data on the power, movement, hours, hours of operation, and condition of the engine. They support carrying out vehicle diagnostics for things like route management, location tracking, fuel efficiency, streamlining operations, etc. Because of this, automobile logging devices are widely used in trucks, buses, light commercial vehicles, and cars etc.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Automotive Logging Device Market Trends and Drivers:
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.
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
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Global Automotive Logging Device Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AT&T 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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The report has segmented the market on the basis of region, component, service type, form factor and vehicle type.
Breakup by Component:
Breakup by Service Type:
Breakup by Form Factor:
Breakup by Vehicle Type:
Light Commercial Vehicles
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
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