Precision Aquaculture Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027Segmented By Farm Type (Open Aquaculture Farms v/s RAS Farms), By System Type (Smart Feeding Systems, Monitoring and Control Systems, Underwater Remote

Precision Aquaculture Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027Segmented By Farm Type (Open Aquaculture Farms v/s RAS Farms), By System Type (Smart Feeding Systems, Monitoring and Control Systems, Underwater Remotely Operated Vehicle Systems, Others), By Application (Feed Optimization, Monitoring and Surveillance, Yield Analysis and Measurement, Others) and By Region

The global precision aquaculture market is anticipated to observe impressive growth during the forecast period, 2023-2027. The major factors driving the growth of the market include technological advancements and demand for protein-rich aqua food. Nowadays, people are consuming seafoods for protein rich diet, as it helps to reduce health problems. Precision aquaculture has altered the traditional aquaculture activities and offers enhanced productivity of the aquaculture industry. The other factors supporting the market's growth are increasing awareness among farmers, growing investments in technological research and product innovation, and support from governments for infrastructure development in aquaculture. Additionally, the increasing income of the middle-class population, is driving the precision aquaculture market, globally.

Demand For Protein-Rich Aqua Food

The increase in consumption of protein rich food among masses in order to reduce health complications is surging the demand of aqua animals in market. Also, this inclination towards seafood is encouraging manufacturers and producers to expand their aquaculture platform in the global market. As per IEEE Xplore, aquaculture is estimated to supply almost 62% of fish till 2030 for human consumption.

Surging adoption of advanced technologies

Various advancements in aquaculture tools, technologies and techniques are being done, which is transforming the traditional farming into automated aquaculture. These automated systems help companies to reduce the labor costs, minimize wastage of resources and enhance production efficiency. In addition, rise in investments and tech-oriented start-ups are bolstering the growth of market. Leading market players are adopting advanced technologies such as ROVs, AI and IoT which are propelling the growth of the market. For instance, in 2020, SinkabergHansen purchased an AC 600 VR feed barge with new technology for waterborne feeding from AKVA group ASA.

Rise in investment in technological research and Increasing Awareness

Expansion of precision aquaculture industry is due to the support provided by governments worldwide for infrastructure development of the aquaculture sector. The rising efforts of investors, the health of the aquaculture industry is expected to augment by coupling the next-generation technologies, government initiatives, and smart solutions. For instance, NOAA's SBIR program is supporting and investing in aquaculture research and development, which encourages small businesses to leverage federal funds to invest in innovative technologies and next-generation products, which lead to proper optimization. In addition, farmers in developing as well as developed countries are getting aware about the precision aquaculture and well-established aqua farms respectively. For instance, in 2021, ICAR, launched ICAR-NePPA, which is designed to develop precision AG-Techs for sustained enhanced input use and production system with safe environment and quality produce to make agriculture a profit-making enterprise.

Market Segmentation

The global precision aquaculture market is segmented into farm type, system type, and application. Based on farm type, the market is divided into open aquaculture farms, and RAS farms. Based on system type, the market is divided smart feeding systems, monitoring and control systems, underwater remotely operated vehicle systems, and others. Based on application, the market is divided into feed optimization, monitoring and surveillance, yield analysis and measurement, and others. In terms of country, the United States is expected to be a lucrative market in the forecast period due to rising demand of protein rich food and organic seafoods in the country.

Market Players

AKVA Group, InnovaSea Systems, Inc., Steinsvik Group AS, Deep Trekker Inc., Eruvaka Technologies Pvt Ltd, AKUAKARE-Aquaculture Ltd., Aquamaof Aquaculture Technologies Ltd., Aquabyte, Inc., Bluegrove AS, and Maritech Systems AS are some of the leading companies operating in the market.

Report Scope:

In this report, global precision aquaculture market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Precision Aquaculture Market, By Farm Type:
• Open Aquaculture Farms
• RAS Farms
• Precision Aquaculture Market, By System Type:
• Smart Feeding Systems
• Monitoring and Control Systems
• Underwater Remotely Operated Vehicle Systems
• Others
• Precision Aquaculture Market, By Application:
• Feed Optimization
• Monitoring and Surveillance
• Yield Analysis and Measurement
• Others
• Precision Aquaculture Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Europe & CIS
• Germany
• France
• United Kingdom
• Spain
• Italy
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in precision aquaculture market

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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