A voyage data recorder is a recorder, installed in a watercraft. It gathers data from different sensors and then digitises compresses and stores this data in a protective storage unit, which is damage proof and is designed to resist the extreme shock, power, pressure, as well as heat, which could be linked with marine incidents.
North America Voyage Data Recorder Market Segments Size & Growth:
North America Voyage Data Recorder market is accounted for $XX billion in 2017 and expected to grow at a CAGR of XX% to reach $XX billion by 2025 during the forecast period 2019-2025. Major factors that are driving the market growth are due to the improved safety standards in the maritime sector and advancements in VDR technology. However, high price for next-generation black boxes is restricting the growth of the North America voyage data recorder market share.
North America Voyage Data Recorder Market Segments Share:
North America Voyage Data Recorder market is categorised into by type which consists of general voyage data recorder and simplified voyage data recorder. General voyage data recorder is leading the North America VDR market. The simplified voyage data recorder (S-VDR) is a simplified version of VDR, accessible at lesser costs, for small ships that can record only the necessary data. The primary difference between VDRs and S-VDRs lies in the total number of recording channels and their features.
By mode of delivery, it is classified by cloud-based and on-premises. The cloud-based segment is expected to grow at the highest CAGR during the forecast period. Growing awareness of Voyage Data Recorder in rural areas is likely to fuel the growth of the Voyage Data Recorder market. By speciality, it is segregated into teleradiology, telecardiology, telepathology, emergency care, others. The telecardiology market is growing at a rapid rate owing to the increasing incidence of cardiac disorders. Tele-radiology accounted for a significant share of the tele-hospitals market driven by varied usage of this technology for shifting patient’s medical reports.
Tele-consulting segment is likely to lead the Voyage Data Recorder market in 2017. This can be attributed to the growing number of smartphone users and the benefits available with teleconsulting services, like reduced hospital stays, and decreased healthcare expenditure and travel cost.
By Geography, North America accounted for the significant share in the North America Voyage Data Recorder market, with a 48.8% share in 2017 based on Voyage Data Recorder market trends in this region. This growth is attributed to better healthcare infrastructure, improved health care spending, rising geriatric population, and increasing prevalence of chronic and lifestyle-related diseases.
North America Voyage Data Recorder Market Segments Trends:
- In September 2016, Danelec Marine has launched a new VDR data platform for remote ship-to-shore access data and also novel series of ECDIS.
- In May 2016, Netwave offers voyage data recorder installation for Mercy Ships to perform medical operations.
North America Voyage Data Recorder Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have a complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried out to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact on altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The primary pivotal Voyage Data Recorder market leaders are:
- Danelec Marine A/S
- INTERSCHALT maritime systems GmbH
- Furuno Electric Co., Ltd.
- Northrop Grumman Sperry Marine B.V.
- Netwave Systems B.V.
Along with these companies, there were many other companies considered/cited in the report while analysing the North America Voyage Data Recorder market size. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.
1. Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
3. Market Analysis
3.1 Industry Value Chain Analysis
3.2 Porter’s Five Force Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 Pestle Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
4. Market Dynamics
4.1. Drivers
4.1.1. Improved safety standards in the maritime industry
4.1.2. Advancements in VDR technologies,
4.2 Restraints & Challenges
4.2.1. High price for next-generation black boxes.
4.3 Opportunities
4.3.1. Increasing naval intelligence missions.
4.3.2. Demand for uncrewed undersea vehicles
5. North America Voyage Data Recorder Market – By Type
5.1. General Voyage Data Recorder
5.2. Simplified Voyage Data Recorder
6. North America Voyage Data Recorder Market – By Application
6.1. Cargo Ship
6.2. Naval Ship
6.3. Passenger Ship
7. North America Voyage Data Recorder Market – By Geography
7.1 Introduction
7.2 North America
7.2.1. The U.S.
7.2.2. Canada
7.2.3. Mexico
8. North America Voyage Data Recorder Market – Company Profiles
8.1. Danelec Marine A/S
8.2. INTERSCHALT maritime systems GmbH
8.3. Furuno Electric Co., Ltd.
8.4. Totem Plus Ltd.
8.5. Northrop Grumman Sperry Marine B.V.
8.6. Netwave Systems B.V.
8.7. Digital Control Systems International Ltd.
8.8. Consilium AB
9. North America Voyage Data Recorder Market – Competitive Landscape
9.1. Market Share Analysis
9.2. Strategies Adopted by top companies
9.3. Mergers, Acquisitions, Collaborations & Agreements
10. Market Insights
10.1. Industry Experts Insights
10.2. Analysts Opinions
10.3. Investment Opportunities
11. Appendix
11.1 List of Tables
11.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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