Electronic Logging Device Market size is anticipated to surpass USD 38.4 Billion by the end of 2036, growing at a CAGR of 7.14 % during the forecast period, i.e. 2024-2036. In the year 2023, the industry size of electronic logging devices was over USD 16.8 Billion. The increasing number of consumers who are more inclined to buy online can be seen as a factor for growth in the market. People can see, on the application, estimates of delivery time, route distance, and other information using electronic logbooks attached to a driver's vehicle. It is estimated that by 2027, there will be over 3 billion people ordering food online. In addition, there will be an estimated 2 billion people worldwide who are shopping on the internet in 2021.
The rise in the number of fleet management platforms is believed to fuel the market’s growth For instance, Omnitracs, LLC, introduced Omnitracs One, a revolutionary modular, hardware-agnostic solution that offers a comprehensive offering for fleets of all sizes. Fleet owners can choose the proper devices based on their needs at any service level with hardware flexibility. Customers can expect ongoing assistance from the industry leader for service quality, as well as rapid access to the most robust network of technology partners.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 7.14% |
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Base Year Market Size (2023) |
~ USD 16.8 Billion |
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Forecast Year Market Size (2036) |
~ USD 38.4 Billion |
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Regional Scope |
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Vehicle Type (Light Commercial Vehicle, Truck, Bus)
The Truck segment in the electronic logging device market is estimated to gain the largest revenue share of about 40% in the year 2036. The growth of the segment can be attributed to the rising use of electronic logging devices in trucks and the growing need to lower the inspection time of trucks. As of May 2019, more than half of the 4 million trucks required to install ELDs had not done so. Moreover, truck driver inspections that resulted in at least one service violation fell considerably from over 1% to less than 1 percent between December 2017 and June 2019.
Form Factor (Embedded, Integrated)
Electronic logging device market from the embedded segment of is predicted to be the largest segment due to the adoption of digital logging machines in developed regions, especially in North America and Europe. Embedded digital logging devices offer more features, and are reliable, and secure. However, a lot of fleet owners have a problem with the exorbitant cost of these structures. On the other hand, integrated systems are more economical and no longer need a high setup fee. Policies relating to Automotive Electronic Logging Devices are anticipated to be implemented in the upcoming years in countries like Russia, Brazil, and China due to the expanding number of government regulations about the security of motorists and automobiles. These features are all dependent on the embedded market.
Our in-depth analysis of the global electronic logging device market includes the following segments:
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Form Factor |
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Component |
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Vehicle Type |
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North American Market Forecast
North America is anticipated to hold 32% share of the global electronic logging device market by the end of 2036. The market growth in this region is attributed majorly to the rising demand for online shopping and home deliveries of various items, such as clothes, electronics, and even services. As of March 2020, approximately 38% of American consumers had used a food delivery app to order food. By March 2021, around 47% of Americans will have used a food delivery app. Furthermore, almost everyone in America orders food online, with about 86% ordering at least once a month.
European Market Statistics
The European electronic logging device market is estimated to be the second largest, registering a share of about ~28% by the end of 2036. The growth of the market can be attributed majorly to the increasing penetration of the internet and the growing trend of online retail shopping. According to Eurostat, in 2024, 93% of EU households will have internet access, up from 72% in 2011. Furthermore, 68% of EU citizens ordered or acquired personal products or services via the Internet in 2024, up from 54% in 2017. On the other hand, the rise in the number of automobiles connected to the Internet of Things (IoT) and the higher adoption of electronic logging devices is also expected to boost the market growth in the region.
Author Credits: Abhishek Verma, Hetal Singh
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