Global Electronic Logging Device (ELD) Market Charts Course for 3.85% CAGR Advancement in Forecast Period 2022-2027.
In-Depth Analysis of the Global Electronic Logging Device (ELD) Market: 2022-2027Forecasts
MarkNtel Advisors has recently released an in-depth study on the Electronic Logging Device (ELD) Market, covering historical data, current market trends, marketing strategies, technological advancements, upcoming technologies, emerging opportunities, and technical advancements in the relevant industry.
What are the primary market insights shaping the trajectory of the industry?
The Global In-Cabin Automotive Artificial Intelligence (AI) Market is anticipated to grow at a CAGR of around 3.85% during the forecast period, i.e., 2022-27.
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Who are the top companies in the Electronic Logging Device (ELD) Market?
- Blue Ink Technology, Inc
- AT&T Inc
- CarrierWeb LLC
- Donlen Corporation
- Garmin Ltd
- Geotab Inc
- KeepTruckin Inc
- Omnitracs LLC
- ORBCOMM Inc
- Pedigree Technologies LLC
- Samsara Inc
- Stoneridge Inc
- Teletrac Navaman US Ltd
- TomTom International BV
- Transflo
Global Electronic Logging Device (ELD) Market Segmentation:
By Vehicle Type
- Light Commercial Vehicle
- Light Trucks
- Light Bus
- Medium & Heavy Commercial Vehicle
- Trucks
- Bus
- Trailers
- Others
- Passenger Cars
- Others
By Installation
- Embedded
- Externally Integrated
By Components
- Engine Module
- Display
- Telematics
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Regional/ Countries Insight:
- North America
- South America
- Europe
- Asia-Pacific
What are the primary market drivers influencing the growth of Electronic Logging Device (ELD) Market?
Key Driver: Increasing Government Regulations Regarding the Safety of Drivers & Vehicles
ELDs accurately record their driving times, making it more comfortable and faster to track, manage, share and improve the accuracy of a driver’s hours of service record, thereby helping drivers be less tired and stay within legally allowed driving hours.
Considering these advantages for the safety of drivers & vehicles, governments are moving towards enforcing the ELD mandate. For instance:
- In 2017, the US passed & implemented the ELD mandate for all commercial vehicles running in the country.
- On the other hand, the Canadian ELD regulations are likely to be implemented from 2022 onwards.
Hence, these significant initiatives would also encourage other countries to shift toward ELDs, which would drive the global market in the coming years.
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- The Global Electronic Logging Device (ELD) Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
- Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
- The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
- Apart from market trends and projections, the Global Electronic Logging Device (ELD) Market Report assists in assessing and mitigating risks associated with entering or operating in the market
- By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.
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