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According to our LPI (LP Information) latest study, the global Voyage Data Recorders (VDR) market size was valued at US$ 845.2 million in 2023. With growing demand in downstream market, the Voyage Data Recorders (VDR) is forecast to a readjusted size of US$ 948.4 million by 2030 with a CAGR of 1.7% during review period.
The research report highlights the growth potential of the global Voyage Data Recorders (VDR) market. Voyage Data Recorders (VDR) are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Voyage Data Recorders (VDR). Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Voyage Data Recorders (VDR) market.
Voyage data recorder, or VDR, is a data recording system designed for all vessels required to comply with the IMO's International Convention SOLAS Requirements (IMO Res A861(20)) in order to collect data from various sensors on board the vessel. It then digitizes, compresses and stores this information in an externally mounted protective storage unit. The protective storage unit is a tamper-proof unit designed to withstand the extreme shock, impact, pressure and heat, which could be associated with a marine incident (fire, explosion, collision, sinking, etc.).
Global Voyage Data Recorders (VDR) key players include Japan Radio Co, Furuno, Orolia Maritime, Danelec Marine, Interschalt Maritime Systems, etc. Global top five players hold a share about 60%.
Europe is the largest market, with a share about 35%, followed by China and Japan, having a total share about 45 percent.
In terms of product, General Voyage Data Recorder is the largest segment, with a share about 60%. And in terms of application, the largest application is Cargo Ship, followed by Cargo Ship, Naval Ship, etc.
Key Features:
The report on Voyage Data Recorders (VDR) market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Voyage Data Recorders (VDR) market. It may include historical data, market Segmentation by Type (e.g., General Voyage Data Recorder, Simplified Voyage Data Recorder), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Voyage Data Recorders (VDR) market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Voyage Data Recorders (VDR) market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Voyage Data Recorders (VDR) industry. This include advancements in Voyage Data Recorders (VDR) technology, Voyage Data Recorders (VDR) new entrants, Voyage Data Recorders (VDR) new investment, and other innovations that are shaping the future of Voyage Data Recorders (VDR).
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Voyage Data Recorders (VDR) market. It includes factors influencing customer ' purchasing decisions, preferences for Voyage Data Recorders (VDR) product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Voyage Data Recorders (VDR) market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Voyage Data Recorders (VDR) market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Voyage Data Recorders (VDR) market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Voyage Data Recorders (VDR) industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Voyage Data Recorders (VDR) market.
Market Segmentation:
Voyage Data Recorders (VDR) market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
- General Voyage Data Recorder
- Simplified Voyage Data Recorder
Segmentation by application
- Passenger Ship
- Cargo Ship
- Naval Ship
- Others
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Japan Radio Co
- Furuno
- Navis
- Consilium
- L-3 Communications
- Wartsila SAM Electronics
- Kongsberg Maritime
- Beijing Highlander
- Raytheon Anschutz
- Danelec Marine
- Kelvin Hughes
- Maretron
Key Questions Addressed in this Report
What is the 10-year outlook for the global Voyage Data Recorders (VDR) market?
What factors are driving Voyage Data Recorders (VDR) market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Voyage Data Recorders (VDR) market opportunities vary by end market size?
How does Voyage Data Recorders (VDR) break out type, application?