Global IOT for Fisheries and Aquaculture Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global IOT for Fisheries and Aquaculture Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The Internet of Things (IoT) describes the network of physical objects-things-that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. The IOT can provide scientific decision-making for the fisheries and aquaculture industry, and realize real-time diagnosis and traceable quality management.

Market Overview:

The latest research study on the global IOT for Fisheries and Aquaculture market finds that the global IOT for Fisheries and Aquaculture market reached a value of USD 850.84 million in 2022. It’s expected that the market will achieve USD 1362.22 million by 2028, exhibiting a CAGR of 8.16% during the forecast period.

Influence of COVID-19 Outbreak on IOT for Fisheries and Aquaculture Industry Development

The current situation of the epidemic in the United States and Europe is particularly serious. In order to stop the spread of this epidemic, many governments have issued stay at home orders. As a result, fishing activities are canceled and the businesses of enterprises are reduced, so the demand for IOT for Fisheries and Aquaculture also drops. The current recurrence of the epidemic and the full spread of the COVID-19 variant strains may cause more serious effects.

Due to the epidemic situation, many countries have imposed controls on domestic transportation and the movement of people, and imposed restrictions on imported goods. This has led to various levels of logistics disruption, cargo accumulation and transportation delays. However, services and software will not be affected by traffic and logistics controls.

The epidemic will have an impact on the cash flow of small and mediumsized enterprises in the industry and thus affect the operating conditions. As a result, the share of small and medium-sized enterprises in the market will shrink and the share of head enterprises will increase.

Drivers

Waters, which cover 70% of the earth's surface area, currently provide only 10% of all human food combined, which means the future of modern fisheries is promising. At present, the fishery industry still follows the traditional way of consuming a large amount of resources and rough operation, and lacks effective monitoring of water quality and environment. Irrational feeding and medication in the aquaculture process greatly deteriorate the water quality environment, affecting the quality of aquatic products and aggravating the occurrence of aquatic diseases, led to the problems of aquatic product quality and safety, water environment pollution is very serious. These problems are forcing the traditional fishery must be transformed and upgraded to improve their products quality, efficiency and competitiveness. Traditional aquaculture relies on manual observation, information recording is not real-time, regulation and control is not timely and feedback is slow. As the scale of aquaculture continues to expand, the information processing requirements in the aquaculture process are getting higher and higher, and the accuracy and reliability of manually recorded data are greatly reduced.

For the pain points of traditional aquaculture, the earlier introduction of information management approach gives a partial solution to promote industry standardization. With the arrival and development of intelligent aquaculture, traditional aquaculture subjects realize the importance of transformation and upgrading. The model of aquaculture, management methods and related technologies continue to innovate, converge and improve.

Limitations

Lack of infrastructure, high hardware costs, data privacy and security issues are still important factors restricting the development of IOT for Fisheries and Aquaculture Industry. In addition, rising labor prices and increased competition may also adversely affect the development of the industry.

Opportunities

5G, edge computing, artificial intelligence, big data and other accelerated iterations and evolution have driven the IoT to usher in a window of scale development and a new round of opportunities. 5G's arrival has greatly facilitated the development of IoT technologies. With 5G is further commercialized, the world of IoT will be greatly enriched. Relying on the characteristics of large bandwidth, low latency and high reliability of 5G network and the number of millions of connections per square kilometer, it can effectively support the instant mass connection of various devices required for intelligent fisheries, which is an important node for the next development of IoT.

With the development of Internet of Things technology, all objects will have the characteristics of identification, sensing and being sensed, and information sharing. Fishery production and IOT technology will be more and more closely linked together, global fishery resources monitoring, marine environment monitoring, fish information forecasting, fishing vessel manufacturing, fishing port construction and other aspects will appear the figure of the Internet of things, fisheries information will develop towards the intelligent, automated, multi-dimensional direction.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

The top three companies are AKVA Group, Satlink and Arbulu Group (Marine Instruments, NAUTICAL) with the revenue market share of 5.52%, 4.84% and 3.87% in 2019.

AKVA group is present in all markets with offices in Norway, Chile, Denmark, Scotland, Spain, Greece, Iceland, Canada, Australia and Turkey. AKVA group is a unique partner with the capability to offer both pen farming and land-based aquaculture operations with complete technical solutions and service.

Satlink S.L. was established back in 1992 in Spain to take advantage of the new satellite communications technology then. Since then, Satlink has positioned itself to be the main mobile satellite supplier in Spain and has also extended its focus to the rest of the world by providing solutions, systems and services for the global maritime, aeronautical and terrestrial markets. The main objective of Satlink has been and will continue to be providing the latest technological developments in satellite communication globally.

Segmentation Overview:

By type, Monitoring & Control Systems segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Aquaculture segment occupied the biggest share from 2017 to 2022.

Key Companies in the global IOT for Fisheries and Aquaculture market covered in Chapter 3:

Zunibal
HISHING
Aquabyte
Eruvaka Technologies
ORBCOMM
ScaleAQ
Imenco AS
BlueTraker
Satlink
AKVA Group
CLS
Iridium
Arbulu Group (Marine Instruments, NAUTICAL)
Kato Electronic
DHI Group
In-Situ
Blue Sky Network
THALOS
KDDI Corporation
Innovasea Systems

In Chapter 4 and Chapter 14.2, on the basis of types, the IOT for Fisheries and Aquaculture market from 2018 to 2029 is primarily split into:

Precision-fishing Techniques
Smart Buoy technology
Metocean Data Collection
Smart Feeding
Monitoring & Control Systems
Underwater ROV System/Aquaculture Underwater Robots
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the IOT for Fisheries and Aquaculture market from 2018 to 2029 covers:

Fisheries
Aquaculture

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)