Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) — “Aquaculture Precision – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for precision aquaculture was valued at USD 675.1 million in 2023 and is projected to reach USD 1.6 billion by 2030, growing at a CAGR of 13.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of the trends of the market. drivers and forecasts, helping you make informed business decisions.
How is sustainability affecting the growth of precision aquaculture?
Sustainability is one of the most critical factors driving the adoption of precision aquaculture technologies. Traditional aquaculture practices, such as overfeeding and poor water management, have historically led to environmental issues such as water pollution, habitat destruction and overuse of resources. Precision aquaculture offers solutions to mitigate these concerns by making aquaculture operations more efficient, environmentally friendly and resource-conservative. One of the key benefits of precision aquaculture is its ability to significantly reduce feed waste, one of the biggest contributors to environmental pollution in fish farms. Using AI and sensor-based feeding systems, farmers can ensure that fish are fed only the amount needed, preventing excess feed from contaminating the water.
Water conservation and quality control are also improved through precision aquaculture. By continuously monitoring water parameters in real time, precision systems enable farmers to maintain optimal water conditions, reducing the need for frequent water changes and minimizing the farm’s environmental footprint. This is particularly important in regions facing water scarcity or where strict environmental regulations exist. Furthermore, the adoption of RAS and other closed systems is helping farmers reduce their dependence on natural water bodies, further increasing sustainability.
Another driver of sustainability is growing consumer demand for responsibly sourced and environmentally friendly seafood. Consumers are becoming more aware of how their food is produced, leading to an increase in certification and labeling schemes that promote sustainable aquaculture practices. Precision aquaculture technologies help fish farms meet the criteria for such certifications, ensuring that their products meet the growing market demand for sustainable seafood. As environmental concerns such as climate change and overfishing intensify, precision aquaculture offers a way to produce high-quality fish and seafood while reducing the environmental impact of aquaculture operations.
What factors are driving the growth of the precision aquaculture market?
The growth of the precision aquaculture market is driven by several factors, including increasing global demand for seafood, advances in technology, and the need for more efficient and sustainable farming practices. One of the main drivers is global population growth and rising seafood consumption, which is pushing the limits of traditional fishing practices and putting pressure on wild fish stocks. As overfishing continues to threaten the world’s marine ecosystems, aquaculture has emerged as a vital solution to meet the global demand for seafood. Precision aquaculture technologies enable farms to scale production sustainably, providing a reliable alternative to wild-caught fish.
Technological advancements, particularly in IoT, AI and big data analytics, are further driving the market. These technologies allow real-time monitoring and precise control of aquaculture operations, helping farmers to optimize feed use, reduce costs and improve overall efficiency. The ability to collect and analyze large volumes of data is enabling farmers to fine-tune their operations in ways not previously possible, increasing profitability and productivity. The falling cost of sensors and data storage technologies is making these solutions more accessible to small and medium farms, further fueling market growth.
Another critical factor driving the market is the growing focus on sustainability and environmental responsibility. Governments and regulatory bodies around the world are imposing stricter environmental regulations on aquaculture operations, encouraging the adoption of more sustainable practices. Precision aquaculture helps farms comply with these regulations while minimizing their environmental impact and improving resource management. Additionally, consumers are becoming more aware of the environmental footprint of their food choices, driving demand for seafood that is produced using sustainable methods. Precision aquaculture technologies help farmers meet these consumer expectations while maintaining profitability.
Recently, the growth of precision aquaculture is being fueled by growing interest from investors and technology partnerships between aquaculture companies and technology firms. These collaborations are accelerating the development of new technologies, making precision aquaculture an attractive sector for investment. As the global focus on food safety and sustainability intensifies, the precision aquaculture market is expected to experience robust growth in the coming years.
Purpose of the Study
The report analyzes the precision aquaculture market, presented in terms of market value (Thousands USD). The analysis covers the key segments and geographic regions described below.
segments
- Offer (Hardware, Software, Services); Farm type (Aquaculture Open, RAS); Application (Supply optimization, monitoring and surveillance, analysis and performance measurement, other applications)
Key insights:
- Market Growth: Understand the significant growth trajectory of the Hardware Component segment, which is expected to reach $711.3 million by 2030 at a CAGR of 12.6%. The Software Component segment is also set to grow at 13.0% CAGR during the analysis period.
- Regional Analysis: Gain insight into the US market, valued at $174.9 million in 2023 and China, projected to grow at an impressive CAGR of 16.8% to reach $384.5 million by 2030. Discover growth trends in regions of other key markets, including Japan, Canada, Germany, and Asia-Pacific.
Why you should buy this report:
- Detailed Market Analysis: Access a complete analysis of the Global Precision Aquaculture Market, covering all major geographies and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of key players in various geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Precision Aquaculture Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key questions answered:
- How is the Global Precision Aquaculture Market expected to evolve by 2030?
- What are the key drivers and restraints affecting the market?
- Which market segments will grow the most during the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the major players in the market and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in USD million from 2023 to 2030.
- In-depth regional analysis: Detailed insights into key markets, including the US, China, Japan, Canada, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
- Company Profiles: Covering major players in the global precision aquaculture market such as Akuakare, AKVA Group, Aquabyte, Aqualine As, CPI Equipment and more.
- Complementary updates: Get free report updates for a year to keep you informed of the latest market developments.
Some of the 34 companies featured in this Global Precision Aquaculture Market report include:
- Aquatic
- AKVA group
- Aquabyte
- Aqualine As
- CPI equipment
- Deep Trekker
- Eruvaka Technologies
- Imenco Aquaculture
- Imenco Nor
- Innovasea Systems
- In-Situ, Inc.
- Jala Tech Pte
- Lifeguard Aquatics
- Fish monitor
- Observe the technologies
- Optimal
- Osmo Systems
- Pentair Aes (subsidiary of Pentair LP)
- Sensorex
- Steinsvik
- Vemco
Main attributes:
| The report attribute | The details |
| Number of pages | 89 |
| Forecast period | 2023 – 2030 |
| Estimated market value (USD) in 2023 | 675.1 million dollars |
| Projected market value (USD) by 2030 | 1600 million dollars |
| Compound annual growth rate | 13.0% |
| Regions covered | global |
Main topics covered:
MARKET SUMMARY
- World Market Trajectories
- Global economic update
- Precision Aquaculture – Market Share of Major Global Competitors in 2024 (E)
- Competitive market presence – strong/active/country/irrelevant for worldwide players in 2024 (E)
MARKET TRENDS AND RIGHTS
- Growing global demand for seafood drives adoption of precision aquaculture technologies to increase production efficiency
- Growing concerns over sustainability and environmental impact drive the need for precision aquaculture solutions to optimize resource use
- Advances in IoT and sensor technologies expand the possibilities for real-time monitoring in precision aquaculture systems
- Increasing focus on reducing feed costs drives demand for automated feeding systems in precision aquaculture
- Adoption of AI and machine learning in precision aquaculture strengthens data-driven decision-making and operational efficiency
- Expansion of offshore aquaculture farms drives demand for precision aquaculture solutions to ensure sustainable production
- Increasing concerns over fish health and disease management drive the use of precision aquaculture for water quality monitoring
- Increasing integration of robotics in aquaculture expands the addressable market for automated farm management systems
- Increasing use of remote sensing technologies enhances data collection and monitoring capabilities in precision aquaculture
- Increasing consumer demand for traceability and transparency in seafood production drives the adoption of precision aquaculture solutions
- Technological advances in smart sensors for measuring water parameters drive growth in precision aquaculture
- Integrating drones and aerial imagery into aquaculture expands possibilities for remote farm monitoring and management
FOCUS ON SELECTED PLAYERS
- Aquatic
- AKVA group
- Aquabyte
- Aqualine As
- CPI equipment
- Deep Trekker
- Eruvaka Technologies
- Imenco Aquaculture
- Imenco Nor
- Innovasea Systems
- In-Situ, Inc.
- Jala Tech Pte
- Lifeguard Aquatics
- Fish monitor
- Observe the technologies
- Optimal
- Osmo Systems
- Pentair Aes (subsidiary of Pentair LP)
- Sensorex
- Steinsvik
- Vemco
For more information about this report, visit https://www.researchandmarkets.com/r/tdlfdw
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The precision aquaculture market
