Electronic Logging Device Industry - Regional Synopsis
North American Market Forecast
North America industry is estimated to hold largest revenue share of 32% by 2037. 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 2037. 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.
