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Precision Aquaculture Market

Precision Aquaculture Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Precision Aquaculture - Introduction

  • Precision technology is an advancement witnessed in the aquaculture industry, which has modified traditional aquaculture activities and enhanced efficiency and productivity of the aquaculture industry
  • Expansion of precision aquaculture market is due to the support provided by governments worldwide for infrastructure development of the aquaculture sector
  • Increased use of hardware components such as, sensors, monitoring and control devices, feeding systems, and underwater remotely-operated vehicles are expected to boost the adoption of automated aquaculture farming to improve the productivity of aquaculture farms in various regions
  • The number of technology-oriented emerging startups operating in the precision aquaculture market has increased, which helps in early detection of aquatic diseases using various monitoring devices
precision aquaculture market size and forecast

Global Precision Aquaculture Market: Dynamics

Global Precision Aquaculture Market: Key Drivers

  • Increase in adoption of advanced technologies such as, IoT, ROVs, and AI for real-time monitoring of aquaculture farms helps boost aquaculture production in the forthcoming years.
  • Rise in demand for protein-rich aqua food in various countries is a key factor expected to drive the demand for precision aquaculture market.
  • Rise in investment in technological research and new product innovation in the aquaculture industry is estimated to further propel the demand for precision aquaculture during the forecast period
  • Lack of skilled operators for effective management of complex aquaculture systems is projected to hinder the precision aquaculture market
  • High operational cost of vessels and unpredicted environmental degradation in seawater further hamper the precision aquaculture market during the forecast period.
  • Rising number of aquaculture farms all over the world is estimated to create significant opportunities for the precision aquaculture market
precision aquaculture market dynamics

Impact of COVID-19 on Global Precision Aquaculture Market

  • Most countries across the globe are facing lockdowns due to the COVID-19 pandemic, which has resulted in economic slowdown. This situation had a severe impact on the supply chain management of precision aquaculture manufacturers companies that were adopting the work-from-home model temporarily during the pandemic.
  • COVID-19 has negatively impacted the business of aquaculture suppliers, distributers and customers, which led to failure of export shipments and reduced demand for aquaculture vendors during the lockdown

North America to Hold Major Share of Global Precision Aquaculture Market

  • In terms of region, the global precision aquaculture market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • Presence of prominent vendors of aquaculture equipment in the U.S. and Canada increases the rate of adoption of precision aquaculture in North America
  • Presence of a large number of aquaculture farms for rapid expansion of aquaculture industry and advancements in fish farming in the region fuel the aquaculture market in Asia Pacific
  • Rise in awareness about RAS-based aquaculture farming in Middle East & Africa is estimated to propel the demand for precision aquaculture during the forecast period.
  • Adoption of precision technology in aquaculture industry in Europe is expected to boost the demand for precision aquaculture during the forecast period
  • Rise in adoption of automated underwater vehicle systems in aquaculture farms in South America is projected to fuel the demand for precision aquaculture in the region during the forecast period
precision aquaculture market outlook by region

Global Precision Aquaculture Market: Competition Landscape

  • Several prominent players operating in the precision aquaculture have strong presence in the market and are witnessing rapid technological development. For instance, In August 2020, Bluegrove acquired an aquatech company SEALAB to launch an open platform for integration with other aquatech vendors not only useful in aquaculture but in agriculture and forestry sectors too.
  • In April 2019, Deep Trekker, a key player of the precision aquaculture market, launched underwater robots REVOLUTION powered by BRIDGE technology that is used to locate underwater hidden obstacles and perform safety underwater inspection

Key Players Operating in Global Precision Aquaculture Market Include:

  • AKVA group
  • Aquabyte, Inc.
  • Aquamaof Aquaculture Technologies Ltd.
  • Bluegrove
  • CPI Equipment, Inc.
  • Eruvaka Technologies Private Limited
  • InnovaSea Systems Inc.
  • Lifegard Aquatics
  • Maritech Systems AS
  • Philips India Limited
  • Osmo Systems, Inc.
  • Observe Technologies Limited
  • Sensorex Inc.
  • Steinsvik Group AS
  • The Kingfish Company
  • Vermont Information Consortium, LLC

Global Precision Aquaculture Market: Research Scope

Global Precision Aquaculture Market, by Offering

  • Hardware
  • Software
  • Services

Global Precision Aquaculture Market, by Farm Type

  • Open Aquaculture Farms
  • RAS Farms

Global Precision Aquaculture Market, by System Type

  • Smart Feeding Systems
  • Monitoring and Control Systems
  • Underwater Remotely-Operated Vehicle Systems
  • Others

Global Precision Aquaculture Market, by Application

  • Feed Optimization
  • Monitoring and Surveillance
  • Yield Analysis and Measurement
  • Others

Global Precision Aquaculture Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America
Precision Aquaculture Market

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