APAC Smart Aquaculture Market - Industry Trends and Forecast to 2031
Asia-Pacific smart aquaculture market is expected to reach USD 14,875,818,897.52 by 2030 from USD 10,052,688,146.78 in 2022, growing at a CAGR of 5.2% during the forecast period of 2023 to 2030.
Market SegmentationAsia-Pacific Smart Aquaculture Market, By Type (Smart Feeding Systems, Monitoring & Control Systems, Water Treatment Systems, Aquaculture Intelligence, Water Animal Growth Management, Underwater (ROV's), Submersible Aquaculture System, Cleaning Systems, Design / Construction Engineering, Aquaculture Environment Management Equipment, and Others), Offering (Hardware, Software, and Services), Farm Type (RAS Farms and Open Aquaculture Farms), Application (Land-based Aquaculture and Marine-based Aquaculture), Country (China, Indonesia, India, Vietnam, South Korea, Thailand, Philippines, Japan, Malaysia, Taiwan, Australia, New Zealand, Singapore, and rest of Asia-Pacific) - Industry Trends and Forecast to 2030
Overview of Asia-Pacific Smart Aquaculture Market Dynamics:
Drivers
• An upward trend in demand for aquatic food amongst the population
• The favorable outlook of the government toward the aquaculture industry
• Rising integration of advanced technologies such as AI, IoT, and data analytics in the aquaculture arena
• Heightened awareness regarding sustainable aquaculture
Restraints
• High initial investment costs
• Technical expertise and skill gaps
• Data security and privacy concerns
• Maintaining environmental sustainability
• Complex regulations that can vary by region
Opportunities
• Collaboration and partnership between technology providers and end-users
• Rising spending on land-based aquaculture systems in developing economies
• Fostering innovation in the development of intelligent solutions
Market Players
Some of the major players operating in the Asia-Pacific smart aquaculture market are listed below: • Innovasea Systems Inc.
• Bluegrove
• ScaleAQ
• In-Situ Inc.
• Deep Trekker Inc. (A subsidiary of Halma plc)
• Exosite
• LINN Geratebau
• AQ1 Systems Pty Ltd
• Qingdao Hishing Smart Equipment Co.,Ltd
• PT JALA Akuakultur Lestari Alamku
• Eruvaka Technologies
• MonitorFish GmbH
• Aquabyte
• AquaMaof Aquaculture Technologies Ltd.
• AKVA group
• HydroNeo (Thailand) Co., Ltd.
• Imenco AS