Voyage Data Recorder (VDR) Market is expected to reach USD 1,798.2 million by 2023. :
Market Highlights:
A voyage data recorder (VDR) is a record-keeping device, invented specifically to be installed in a watercraft. It accumulates information from different sensors on board. It then digitizes, compresses and stores this information in an externally mounted protective storage unit, which is tamper-proof and is designed to withstand the extreme shock, impact, pressure, and heat, which could be associated with marine incidents. This recording is recovered and used for investigation in events of accidents in a compressed and digitized format. Introduction of advanced VDR technologies propel the growth of the market. In addition, improved safety standards in maritime industry and growing demand for unmanned undersea vehicles (UUVs) are some other factors that fuel the demand for VDR systems and solutions.
On the basis of type, the VDR market has been segmented as general voyage data recorder and simplified voyage data recorder. General voyage data recorder market. The simplified voyage data recorder (S-VDR) is a simplified version of VDR, available at lower costs, for small ships that can record only the basic data. The primary difference between VDRs and S-VDRs lies in the number of recording channels and their characteristics. Danelec Marine A/S, Interschalt maritime systems, Consilium, and Netwave Systems are the major manufacturers of such VDRs.
Global VDR market is expected to reach USD 1,798.2 million by 2023, at a CAGR of 2.25% during the forecast period.
Market Research Analysis:
On the basis of application, the VDR market segments are passenger ship, cargo ship, and naval ship. Cargo ship dominates the application segment of the global voyage data recorder market. A cargo ship or freighter is the vessel that carries cargo, goods, and materials from one port to another. The increasing investments in port infrastructure and globalization are some of the major factors driving the market for cargo ships. A passenger ship is primarily used for the carriage of passengers on the seas and oceans. Demand for passenger ships increases mainly due to the transformation of ships into “ship hotels”, which offer amazing vacation experiences to passengers. A naval ship is a military ship (or sometimes boat, depending on classification) used by the naval forces of various countries.
Global Voyage Data Recorder Market, 2016 – 2023 (USD Million)
Scope of the Report
This study provides an overview of the global VDR market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and ROW. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global voyage data recorder market as type and Application.
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Global Voyage Data Recorder Market, By Type
- General Voyage Data Recorder
- Simplified Voyage Data Recorder
Global Voyage Data Recorder Market, By Application
- Passenger Ship
- Cargo Ship
- Naval Ship
Key Players:
The key players of global voyage data recorder market are Danelec Marine A/S (Denmark), INTERSCHALT maritime systems GmbH (Germany), Furuno Electric Co., Ltd. (Japan), Japan Radio Co. Ltd. (Japan), Northrop Grumman Sperry Marine B.V. (UK), Netwave Systems B.V. (The Netherlands), Digital Control Systems International Ltd. (Greece), Beijing Highlander Digital Technology Co. Ltd. (China), Consilium AB (Sweden), and Totem Plus Ltd. (Israel).
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