Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) -- The "Precision Aquaculture - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Precision Aquaculture was estimated at US$675.1 Million in 2023 and is projected to reach US$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 market trends, drivers, and forecasts, helping you make informed business decisions. 
How Is Sustainability Influencing 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 like water pollution, habitat destruction, and excessive use of resources. Precision aquaculture offers solutions to mitigate these concerns by making aquaculture operations more efficient, environmentally friendly, and resource-conservative. One of the core benefits of precision aquaculture is its ability to significantly reduce feed waste, one of the largest contributors to environmental pollution in fish farms. By using AI and sensor-based feeding systems, farmers can ensure that fish are fed only the necessary amount, preventing excess feed from polluting the water.
Water conservation and quality control are also enhanced 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 exchanges and minimizing the environmental footprint of the farm. This is especially important in regions facing water scarcity or where stringent environmental regulations are in place. Additionally, the adoption of RAS and other closed-loop systems is helping farmers reduce their dependency on natural water bodies, further enhancing sustainability.
Another sustainability driver is the increasing consumer demand for responsibly sourced and environmentally friendly seafood products. Consumers are becoming more conscious of how their food is produced, leading to a rise in certifications 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 the increasing global demand for seafood, advancements in technology, and the need for more efficient and sustainable farming practices. One of the primary drivers is the growing global population and the rising consumption of seafood, which is pushing the limits of traditional fishing practices and placing 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 propelling the market. These technologies allow for real-time monitoring and precise control of aquaculture operations, helping farmers 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 that were previously not possible, increasing profitability and productivity. The decreasing cost of sensors and data storage technologies is making these solutions more accessible to small and medium-sized farms, further driving market growth.
Another critical factor driving the market is the increasing focus on sustainability and environmental responsibility. Governments and regulatory bodies worldwide are imposing stricter environmental regulations on aquaculture operations, encouraging the adoption of more sustainable practices. Precision aquaculture helps farms comply with these regulations by minimizing their environmental impact and improving resource management. Moreover, 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.
Lastly, the growth of precision aquaculture is being fueled by the increasing interest from investors and technological partnerships between aquaculture companies and tech firms. These collaborations are accelerating the development of new technologies, making precision aquaculture an attractive sector for investment. As the global focus on food security and sustainability intensifies, the precision aquaculture market is expected to experience robust growth in the coming years.
Scope of the Study
The report analyzes the Precision Aquaculture market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.
Segments
- Offering (Hardware, Software, Services); Farm Type (Open Aquaculture, RAS); Application (Feed Optimization, Monitoring & Surveillance, Yield Analysis & Measurement, Other Applications)
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Hardware Component segment, which is expected to reach US$711.3 Million by 2030 with a CAGR of a 12.6%. The Software Component segment is also set to grow at 13.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $174.9 Million in 2023, and China, forecasted to grow at an impressive 16.8% CAGR to reach $384.5 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Precision Aquaculture Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Precision Aquaculture Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Precision Aquaculture Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Precision Aquaculture Market such as Akuakare, AKVA Group, Aquabyte, Aqualine As, CPI Equipment and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 34 companies featured in this Global Precision Aquaculture Market report include:
- Akuakare
- AKVA Group
- Aquabyte
- Aqualine As
- CPI Equipment
- Deep Trekker
- Eruvaka Technologies
- Imenco Aquaculture
- Imenco As
- Innovasea Systems
- In-Situ, Inc.
- Jala Tech Pte
- Lifegard Aquatics
- Monitorfish
- Observe Technologies
- Optimar
- Osmo Systems
- Pentair Aes (Subsidiary of Pentair LP)
- Sensorex
- Steinsvik
- Vemco
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $675.1 Million |
| Forecasted Market Value (USD) by 2030 | $1600 Million |
| Compound Annual Growth Rate | 13.0% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Precision Aquaculture - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Global Demand for Seafood Drives Adoption of Precision Aquaculture Technologies to Boost Production Efficiency
- Rising Concerns Over Sustainability and Environmental Impact Propel the Need for Precision Aquaculture Solutions to Optimize Resource Use
- Advancements in IoT and Sensor Technologies Expand Opportunities for Real-Time Monitoring in Precision Aquaculture Systems
- Growing Focus on Reducing Feed Costs Spurs the 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 Propel the Use of Precision Aquaculture for Monitoring Water Quality
- Growing Integration of Robotics in Aquaculture Expands Addressable Market for Automated Farm Management Systems
- Rising Use of Remote Sensing Technologies Enhances Data Collection and Monitoring Capabilities in Precision Aquaculture
- Increasing Consumer Demand for Traceability and Transparency in Seafood Production Spurs Adoption of Precision Aquaculture Solutions
- Technological Advancements in Smart Sensors for Measuring Water Parameters Drive Growth in Precision Aquaculture
- Integration of Drones and Aerial Imaging in Aquaculture Expands Opportunities for Remote Farm Monitoring and Management
FOCUS ON SELECT PLAYERS
- Akuakare
- AKVA Group
- Aquabyte
- Aqualine As
- CPI Equipment
- Deep Trekker
- Eruvaka Technologies
- Imenco Aquaculture
- Imenco As
- Innovasea Systems
- In-Situ, Inc.
- Jala Tech Pte
- Lifegard Aquatics
- Monitorfish
- Observe Technologies
- Optimar
- 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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