The global electronic logging device market is expected to grow in near future because of upcoming ELD mandate for fleet management in North America and also in some of the Asian countries. In addition to that, the growing need for operational efficiency in fleet owning organizations will also play a crucial role in the growth of the electronic logging device market. The global electronic logging device market, by new vehicle service and aftermarket service, is expected to be USD 12.5 billion in 2018 and is projected to reach USD 16.6 billion by 2025.
The electronic logging device market is dominated by global players and includes several regional players. Some of the key players in the electronic logging device market are Omnitracs (US), Trimble (US), Geotab (Canada), Donlen (US), and Teletrac Navaman (US). The study includes an in-depth competitive analysis of these key players in the electronic logging device market, with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
The electronic logging device market includes several global players, which makes it highly competitive. These players have adopted various strategies to diversify their presence globally and increase their respective market share. This section includes a study of the growth strategies adopted by market players from 2015 to 2018. The key strategies adopted by industry players to gain traction in the electronic logging device market are partnerships and new product developments. The companies adopted these strategies to diversify their operations geographically and to fortify their business networks.
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For example, in 2017, Geotab entered into a partnership with ALK Technologies, a transportation technology company. This partnership would make ALK’s CoPilot truck navigation application available on the Geotab Marketplace to help drivers and fleet managers streamline operations and maximize productivity. In the same year, Geotab launched Driver DataSense, a service that helps fleets manage the HOS based on the data received from the Geotab device, paper log books, and driver time records. This service was developed by J. J. Keller & Associates, a consulting firm. Geotab also integrated Driver DataSense with the TMWSuite and TMW TruckMate from TMW Systems, a leading transportation software provider for commercial and private fleets. This partnership would enable Geotab customers to customize and expand their fleet management capabilities. Other than GeoTab, Teletrac Navman partnered with Planung Transport Verkehr AG, a logistics and traffic software provider, to help fleet managers reduce the time and workforce needed to plan, optimize, and execute the delivery routes.
On the other hand, Omnitracs adopted the strategy of new product developments and supply contracts to sustain its market position. For example, in 2017, Omnitracs launched a new solution named Intelligent Vehicle Gateway (IVG), which is compliant with FMCSA’s ELD mandate. This solution helps fleet customers abide by government requirements and improve security and productivity. In the same year, Omnitracs launched Roadnet Anywhere v4.5, an update of its Roadnet Anywhere platform. The new update incorporates advanced vehicle overview features, allowing managers to view the status of their entire fleet while enhancing the workflow on the ground level. In 2016, Omnitracs launched the Omnitracs ELD Driver Retention Model, a predictive modeling solution that enables companies to identify and retain truck drivers who are most likely to leave their jobs voluntarily. Omnitracs has also adopted partnership and acquisition as its strategies to sustain in the electronic logging device market. In 2017, Omnitracs partnered with Peloton Technology, a US-based developer of connected and automated vehicle systems. The partnership would bring Peloton’s truck communication technology to Omnitracs’ customers.
Electronic Logging Device Market by Component (Display, Telematics unit), Form factor (Embedded, Integrated), New & Aftermarket Service (Entry Level, Intermediate, High-End), Vehicle Type (Truck, Bus, LCV), and Region - Global Forecast to 2025
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