Global Precision Aquaculture Market, By Rearing System (Smart Feeding Systems, Monitoring and Control Systems, Underwater Rov Systems, Others), Application (Feeding Management, Monitoring, Control and Surveillance, Others), Component (Hardware, Software, Service), Farm Type (Cage-based, RAS), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Precision Aquaculture Market
Precision aquaculture market will reach at an estimated value of USD 1.16 billion by 2028 and is expected to grow at a CAGR of 14.30% in the forecast period 2021 to 2028. Rise in the adoption of advanced technologies such as IoT, ROVs, and AI for real-time monitoring of aquaculture farms acts as the major factor driving the growth of precision aquaculture market in the forecast period of 2021-2028.
Precision aquaculture includes numerous hardware and software components interconnected with each other. Sensors installed in the marine environment form a key part of these components as they interpret, monitor, analyze, and offer decision support for farm operations. An extensive variety of sensors, such as optical, acoustic, and biological sensors, are used to gain insights into the farm environment, that assist in making decisions to increase fish health and economic return, along with mitigating risk to the environment.
Rise in the investments in technological research and product innovations is the vital factor escalating the market growth, also rise in the income levels and demand for protein-rich aqua food, rise in the emphasis on the deployment of large-scale offshore aquaculture projects, increase in the numerous government initiatives and increase in the efficiency and profitability of conventional aquaculture activities are the major factors among others driving the growth of precision aquaculture market. Moreover, rise in the adoption of aquaculture monitoring and feed optimization devices in developing countries, increase in the number of cage-based farms in developing regions such as India, China, and South-East Asian countries and rise in the popularity of land-based recirculating aquaculture systems will further create new opportunities for precision aquaculture market in the forecast period of 2021- 2028.
However, increase in the upfront costs and capital expenditure, rise in the dearth for skilled operators for effective management of complex systems and lack of technological awareness among aquaculture farmers are the major factors among others acting as restraints, while lack of common information management system platform in aquaculture industry and rise in the environmental concerns due to extensive aquaculture farming will further challenge the growth of precision aquaculture market in the forecast period mentioned above.
This precision aquaculture market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on precision aquaculture market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Precision Aquaculture Market Scope and Market Size
Precision aquaculture market is segmented on the basis of rearing system, application, component and farm type. The growth among various segments helps in the better analyzation of growth and strategies for better vision of market.
- Based on rearing system, the precision aquaculture market has been segmented into smart feeding systems, monitoring and control systems, underwater Rov systems and others.
- Based on application, the precision aquaculture market has been segmented into feeding management, monitoring, control and surveillance and others.
- Based on component, the precision aquaculture market is segmented into hardware, software and service.
- The precision aquaculture market is also segmented on the basis of farm type into cage-based and RAS.
Precision Aquaculture Market Country Level Analysis
Precision aquaculture market is analyses and market size, volume information is provided by country, rearing system, application, component and farm type as referenced above.
The countries covered in precision aquaculture market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA)
Asia-Pacific dominates the precision aquaculture market due to rise in the income levels and demand for protein-rich aqua food, rise in the emphasis on the deployment of large-scale offshore aquaculture projects, and increase in the numerous government initiatives. Europe is expected to grow in terms of increase in the efficiency and profitability of conventional aquaculture activities in this region.
The country section of precision aquaculture market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Precision Aquaculture Market Share Analysis
Precision aquaculture market report competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to precision aquaculture market report.
The major players covered in the precision aquaculture market report are AKVA group, Innovasea Systems Inc, Deep Trekker Inc, ScaleAQ, Aquabyte, Eruvaka Technologies, CPI Equipment Inc, LIFEGARD AQUATICS, Bluegrove, Imenco AS, Signify Holding, PT. Atnic Ekotekno Wicaksana, Planet Lighting, Maritech and OxyGuard A/S. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analyst understands competitive strengths and provides competitive analysis for each competitor separately.