Smart Aquaculture Market Size, Share & Trends: Report

Posted 2024-01-08 12:23:32

"Through the Smart Aquaculture Market report, businesses gain access to vital statistics on the market status of regional and global manufacturers, coupled with valuable guidance and direction to propel their business towards growth and success. CAGR values, as highlighted in the report, provide estimations regarding the rise or fall of product demand over the forecasted duration. With a comprehensive overview, the market report covers various aspects, including product definition, market segmentation based on various parameters, and the customary vendor landscape. The Smart Aquaculture Market document serves as a valuable resource, offering current and upcoming technical and financial details of the industry.

The Smart Aquaculture Market report is an in-depth market research document that studies the challenges, market structures, opportunities, driving forces, and competitive landscape of the business. Market definitions in terms of driving factors and restraints aid in estimating the demand for a particular product based on several aspects. This market document analyzes and examines crucial industry trends, market size, market share estimates, and sales volume, allowing businesses to strategize for increased return on investment (ROI). The Smart Aquaculture Market report's expert solutions, combined with potential capabilities, make it stand out as an exceptional resource for businesses.

The global smart aquaculture market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.8% in the forecast period of 2023 to 2030 and is expected to reach USD 34,906,078,874.79 by 2030.

Explore Further Details about This Research Smart Aquaculture Market Report https://www.databridgemarketresearch.com/reports/global-smart-aquaculture-market

The global smart aquaculture market is primarily driven by the growing global demand for seafood coupled with the need for sustainable and efficient aquaculture practices. Advanced technologies such as Internet of Things (IoT), sensors, automation, and data analytics are increasingly being integrated into aquaculture operations to monitor and optimize parameters such as water quality, feeding, and fish health. These technologies enable farmers to enhance production efficiency, minimize environmental impact, and mitigate risks associated with disease outbreaks.

The global smart aquaculture market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an analyst brief. Our team will help you create a revenue-impact solution to achieve your desired goal.

REPORT METRIC	DETAILS
Forecast Period	2023 to 2030
Base Year	2022
Historic Years	2021 (Customizable to 2015-2020)
Quantitative Units	Revenue in USD, Volume In Units
Segments Covered	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 Equipments, and Others), Offering (Hardware, Software, and Services), Farm Type (RAS Farms and Open Aquaculture Farms), Application (Land-Based Aquaculture and Marine-Based Aquaculture)
Countries Covered	China, Indonesia, India, Vietnam, South Korea, Thailand, Philippines, Japan, Malaysia, Taiwan, Australia, New Zealand, Singapore, rest of Asia-Pacific, Spain, France, Italy, Norway, Netherlands, Poland, Germany, Denmark, Finland, Sweden, Belgium, Russia, U.K., Switzerland, Turkey, rest of Europe, U.S., Canada, Mexico, Egypt, Saudi Arabia, Oman, U.A.E., Kuwait, Bahrain, Qatar, South Africa, rest of Middle East And Africa, Brazil, Argentina, and rest of South America
Market Players Covered	Innovasea Systems Inc., Bluegrove, ScaleAQ, In-Situ Inc., Deep Trekker Inc. (A subsidiary of Halma plc), Exosite, CPI Equipment Inc., Maritech, NextAqua, 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., and Imenco AS among others.

Global Smart Aquaculture Market Definition

The market refers to using advanced technologies and data-driven solutions to optimize and enhance aquaculture operations' efficiency, sustainability, and productivity. It encompasses integrating various digital tools such as sensors, IoT devices, automation systems, AI, and data analytics to monitor and control critical aspects of aquaculture, including water quality, feeding, environmental conditions, and disease management. This integration allows aquaculture farmers to make informed decisions, reduce resource wastage, improve yields, and ensure the welfare of aquatic organisms. The market aims to address the growing global demand for seafood while minimizing the environmental impact and operational risks associated with traditional aquaculture practices.

Global Smart Aquaculture Market Dynamics

Drivers

An Upward Trend in Demand for Aquatic Food Amongst the Population

According to the Food and Agriculture Organization of the United Nations, the demand for aquatic food has been on a significant upward trend in recent years, with a projected 15% increase in consumption expected by 2030. This surge in demand is driven by a combination of factors, including rising incomes, urbanization, improvements in post-harvest practices, and changing dietary trends. Multiple factors have significantly influenced per capita consumption, including increased supplies, shifting consumer preferences, technological advancements, and income growth. These factors have collectively fueled the surge in demand for aquatic food products. The aquaculture industry, in particular, has been at the forefront of meeting this growing demand for aquatic food. Over the past three decades, it has emerged as one of the fastest-growing sectors in animal food production, exhibiting an impressive annual growth rate of approximately 5.1% between 2000 and 2020. In 2020, it reached a record production value of 87.5 million tonnes, highlighting its crucial role in satisfying the world's appetite for aquatic food. It is well-positioned to cater to the growing demand for aquatic food while ensuring sustainable and profitable production as the industry continues to evolve and adopt modern technologies. In essence, the market is intricately linked to the rising demand for aquatic food, and its prospects are promising as it continues to shape how the population produces and consumes aquatic food products, thus driving market growth.

Rising Integration of Advanced Technologies such as AI, IoT, and Data Analytics in Aquaculture Arena

Smart aquaculture, which involves the remote control and independent management of aquaculture facilities and equipment, is changing how farmers operate and manage their farms. Farmers involved in aquaculture are increasingly transitioning from labor-intensive to mechanized and automated farming practices. Incorporating modern information technology across the entire aquaculture value chain, encompassing production, operation, management, and service, is crucial for the industry's growth. Smart technology plays a pivotal role in achieving better productivity and disease management, transforming the landscape of aqua farming. Farm operators can gain a comprehensive view of the species' nutrition, health, and environmental conditions in their farms by uploading data from sensing technologies and underwater cameras to an online software tool. This real-time data empowers them to take proactive measures before any situation becomes critical. Underwater drones allow farm operators to conduct inspections whenever and wherever necessary. They monitor off-surface farms and track critical environmental parameters, including pH, salinity, oxygen concentrations, turbidity, and pollutant levels. This technology enables operators to check for mortalities in cages, monitor feeding activities, and inspect underwater cages for damages or net holes. In some cases, specialized drones can even facilitate net repairs. These advancements are boosting the market growth and positioning it for a sustainable and technologically advanced future.

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