Voyage Data Recorder Market: A Snapshot
Voyage data recorders also known as VDR are data recording systems used in all vessels. Their use in mandated by IMO’s international convention SOLAS requirements. Today’s system collect the data as mandated then digitalize it, compress it, and store information in an externally mounted protective storage. The external storage is mandated to be tamper-proof and usually can withstand extreme shocks, heat, pressure, and impact. Hence, even in worst case scenarios like sinking of the vessel or collisions, the data is usually recoverable for sea vessels.
The new advancements in the technologies have led to major changes in the operation of sea vessels and VOD technology. Today even under worst circumstances, last 12 hours of data from the ships is usually recoverable. Authorities use this information to replay and access information for official investigations.
Advanced VOD systems are also accompanied with a recording control unit and a data acquisition unit. These are connected to the sensors of the ship and also to its various equipment. The voyage data recorder market is experiencing tremendous growth as increasing advancements and rising precautions led to the introduction of MSC.333(90) which mandated ship vessel owners to keep track of 30 days of data internally. New VOC technology enables recording this data on various units within the advanced systems. The manufacturers of VODs differ in their usage of terminology for different equipment.
VODs are expected to gain increased attention in the near future as despite the low-risks of collisions, and accidents, new sensors and available information helps decrease maintenance costs for ships. The widely available information can also improve performance, monitoring, and heavy weather damage analysis. So, apart from maritime security, maritime commerce is also expected to drive robust growth for the voyage data recorder market in the near future. The newest low cost and simple MSC 163 is widely used in basic ships for recording data. The VOD technology emits a wide range of information including gyro compasss, position, time, date, speed log, and radar. Additionally, the equipment can also provide information on hul openings, ECDIS, rudder, among various other things.
Voyage Data Recorder Market: Introduction
Voyage data recorder is usually a two-part system consisting of a data collecting unit and a protected storage unit, and stores the retrieved data. The main component of the voyage data recorder system is carried inside the ship and is connected to a deck-mounted protective capsule, which houses a fixed high-capacity solid-state memory block. The capsule is designed to withstand fire, deep-sea pressure, and shock.
Global Voyage Data Recorder Market: Competitive Landscape
Danelec Marine A/S
Founded in 1995, Danelec Marine A/S is headquartered in Denmark. The company is a leading manufacturer of voyage data recorders, electronics chart displays & information systems, and Ship-2-Shore data solutions with more than 6,000 installations worldwide. The company provides efficient solutions, services, and products to ship-owners with low-cost ownership and high customer satisfaction.
To understand how our report can bring difference to your business strategy, Ask for a brochure
INTERSCHALT Maritime Systems AG
Established in 2007, INTERSCHALT Maritime Systems AG is a multinational corporation headquartered in Barendrecht, Netherlands. The company provides maritime software and services, as well as manufactures VDR systems for ship operations. Interschalt maritime systems AG is in the ownership of a group of private individuals with maritime background and has a management team. Interschalt maritime systems AG was formed a result of merger of its former subsidiaries: AVECS Corporation AG, Interschalt GmbH, Stein Sohn GmbH, and Seacos GmbH. The merger incorporates companies with more than 130 years of experience and excellent reputation in the maritime ship supply industry.
FURUNO ELECTRIC CO., LTD
Founded in 1938 and headquartered in Nagasaki, Japan. FURUNO ELECTRIC CO., LTD is a Japan-based electronics company offering products such as marine electronics, including radar systems, fish finders, and navigational instruments. The company also manufactures global positioning systems, medical equipment and meteorological monitoring and analysis systems.
Northrop Grumman Sperry Marine B.V.
Founded in 2010, Northrop Grumman Sperry Marine B.V. is headquartered in Surrey, the U.K. The company provides safe, efficient, and reliable navigation solutions for defense maritime. The company provides navigation solutions, including radars, compass systems, steering systems, speed logs, integrated bridge, and control systems.
Expanding operations in future? To get the perfect launch ask for a custom report
Global Voyage Data Recorder Market: Dynamics
Focus on Developing Advanced Voyage Data Recorders
The voyage data recorder technology can be used in several marine applications. Manufacturers in the global voyage data recorder market are increasingly investing in research and development activities to find new and innovative techniques to develop technologically advanced voyage data recorder. The voyage data recorder market is highly fragmented with the presence of several manufacturers, especially in Europe. Moreover, increase in the number of manufacturers has led to product differentiation. This has resulted in increased competition in the market.
Global Voyage Data Recorder Market: Segmentation
In terms of system type, the global voyage data recorder market can be segmented into:
- Simplified Voyage Data Recorder
- Full Voyage Data Recorder
Based on product type, the global voyage data recorder market can be divided into:
- Fixed Voyage Data Recorder
- Float Voyage Data Recorder
On the basis of application, the global voyage data recorder market can be classified into:
- Naval Ships
- Cargo Ships
- Passenger Ships
The report on the global voyage data recorder market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.