According to the Market Statsville Group (MSG), the global automotive logging device market the size should go from 13.6 billion USD in 2021 at $18.7 billion by 2030at 4.1 CAGR% from 2022 to 2030. Automotive lockout systems are useful for periodically checking the condition of vehicle components; it is also useful for tracking and monitoring driver activities and vehicle status. An automotive recording device tracks location, engine performance and working hours and also keeps time, date and performance records.
The automotive logging device market is currently in its growth phase and is expected to witness substantial growth in the future. Factors driving the growth of the market include increasing demand for automobiles, government rules mandating the incorporation of automobile recording device in vehicles to record and meet service compliance hours, increased digitalization in transportation and logistics, and growing trends and technologies in vehicle condition monitoring. .
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Recent new technology trends are driving the automotive logging devices market, such as automotive logging devices are currently connected to smartphones; which helps to display information about smartphones and problems are likely to be detected. Automotive recording device smartphone application programs vehicle information recording which is driver safety, compliance and security manager.
Global Automotive Logging Devices Market Definition
Automotive logging devices are electronic equipment used in a vehicle to monitor or track the working hours of professional vehicle drivers; it is attached and synchronized to vehicle engines to collect essential information.
Global Automotive Logging Devices Market Dynamics
Drivers: Growing trends towards vehicle health monitoring
Automotive electronic logging devices are multitasking and record data for good document organization. Growing trends and technologies in vehicle condition monitoring are driving the use of automotive electronic recording as it records the duration of truck movement and the time the driver was on duty and off duty. Electronic logging devices also monitor engine condition and inform the driver and main fleet monitoring systems. It follows the state of the vehicle and detects its fault. These make it easier to get an overview of the problem and the condition of the vehicle; these devices provide secure and reliable functionality for tracking various vehicle conditions. The above reasons increase the growth of the market.
Constraints: Slow adoption of technology in emerging economies
Having an automotive electronic logging device in a vehicle, there are technological and typical difficulties such as switching from paper logs to electronic logs, maintenance and storage of information and logs; these things take time and learning. Automotive industry growth is slow in emerging economies because disposable income is lower; due to less income, many people cannot afford it.
Opportunities: Increase the service offer of transport companies
The transport sector is constantly growing; therefore, safety, security and tracking are essential. In the transport sector, many vehicles are hired for execution. To ensure performance and hours of service in transport, automotive electronic logging devices are proliferating. For example, Automotive Logistics, a US-based company, piloted a new electronic logging device in its vehicle category, which captures truck and driver performance, GPS and hours of service data, and transmits information to cloud servers, which are expected to facilitate transport.
Scope of the Global Automotive Logging Devices Market
The study categorizes the Automotive Logging Devices market on the basis of service type, vehicle type, components, and form factors regionally and globally..
By type of service (Sales, million USD, 2017–2030)
- entry level
- High level
By type of vehicle (Sales, million USD, 2017–2030)
- Light commercial vehicles
By Outlook component (Sales, million USD, 2017–2030)
- Telematics unit
By Outlook form factor (Sales, million USD, 2017–2030)
Outlook by region (Sales, million USD, 2017–2030)
- North America
- the Netherlands
- Czech Republic
- The rest of Europe
- Asia Pacific
- South Korea
- The Philippines
- Australia and New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- North Africa
- Rest of MEA
The intermediate segment expected to account for the largest market share, by type of service
Based on the type of service, the automotive logging device is segmented into entry-level, mid-level, and high-level. The mid-tier segment was the largest contributor to the market, with a 39.9% share in the global journaling device market. The set of services that includes entry-level services and some additional services is an intermediate type of service; additional services include ELD compliance, GPS tracking and alerts. Owners of medium and upper-middle sized fleets subscribe to intermediate services. It is considered as the largest market for the type of service as Europe and North America regions have large medium and large fleet operations which is lucrative for the growth of the market.
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Asia Pacific represents the highest CAGR over the forecast period
Based on regions, the global automotive logging devices market has been segmented into North America, Asia–Pacific, Europe, South America, Middle East and Africa. Globally, Asia-Pacific is estimated to hold the highest CAGR of 6.7% in the global automotive logging devices market during the forecast period. This is due to increased technological advancements and increased automotive standards in developing countries such as India, China, and Indonesia. Asia-Pacific is the fastest growing region in the world. It is the most lucrative market for automotive logging devices owing to the availability of high-end advanced technologies, increased demand for smart electronics, and growth in manufacturing industries.
Asia-Pacific leads the automotive logging device market and is expected to be the fastest growing regional segment in the future with the highest CAGR. Organizations in all industries are realizing the importance of automotive logging devices to ensure efficient working conditions.
Key Market Players in the Global Automotive Logging Device
Vendors of automotive lockout devices, which have access to vast technical and financial resources, are expected to gain a competitive edge over their competitors as they can meet market demands. The competitive environment in this market is expected to intensify with an increase in technological innovations, product extensions, and different strategies adopted by major vendors.
The main players in the global automotive market are:
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