The precision aquaculture global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Precision Aquaculture Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
precision aquaculture market size has grown rapidly in recent years. It
will grow from $0.47 billion in 2023 to $0.53 billion in 2024 at a
compound annual growth rate (CAGR) of 13.2%. The growth in the historic
period can be attributed to growing demand for seafood, rising awareness
of the environmental impact, government support and regulations, rising
operational costs, and improvements in fish health management.
The precision aquaculture market size is expected to see rapid growth in the next few years. It will grow to $0.87 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to increasing focus on food safety and quality, rising investments in aquaculture innovations, expansion of aquaculture operations, rising population, and rising middle-class income. Major trends in the forecast period include the adoption of artificial intelligence (AI) and machine learning, advancements in remote sensing technologies, integration of blockchain for traceability, development of advanced data analytics platforms, and enhanced farm management software.
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Scope Of Precision Aquaculture Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Precision Aquaculture Market Overview
Market Drivers -
Growing
global demand for seafood is expected to propel the growth of the
precision aquaculture market going forward. Seafood refers to any form
of edible marine life that is harvested from oceans, rivers, lakes, or
other bodies of water. Seafood demand is high due to its health
benefits, including being rich in proteins and omega-3 fatty acids,
along with growing consumer interest in sustainable and nutritious food
options. Precision aquaculture enhances seafood production by optimizing
farming practices, ensuring sustainable resource management, and
improving the overall health and quality of aquatic species. For
instance, in December 2023, according to the Department of Agriculture,
Fisheries, and Forestry, an Australia-based government department,
Australians consumed approximately 350,000 tones of seafood in 2021–22,
averaging 13.8 kilograms per person. The value of fishery and
aquaculture imports also rose by 2% to $2.19 billion, primarily due to
an increase in prawn imports. Therefore, the growing global demand for
seafood is driving the growth of the precision aquaculture market.
Market Trends -
Major
companies operating in the precision aquaculture market are focused on
developing innovative products such as artificial intelligence
(AI)-based aquaculture cameras to gain a competitive edge in the market.
AI-based aquaculture cameras are advanced imaging systems integrated
with artificial intelligence (AI) algorithms, specifically designed for
monitoring and managing aquaculture environments. For instance, in July
2024, ReelData AI, a Canada-based software company, launched ReelVision,
a camera developed for AI applications in aquaculture, such as
behavioral analysis, feeding rates, and fish health and welfare.
ReelVision is an advanced AI camera system designed specifically for
fish farms. This data-driven approach enables farmers to make more
informed decisions around feeding, stocking density, and health
management. This helps optimize production, reduce waste, and minimize
environmental impact.
The precision aquaculture market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Farm Type: Open Aquaculture Farm, Recirculatory Aquaculture System (RAS) Farm
3) By Application: Feed Optimization, Monitoring And Surveillance, Yield Analysis And Measurement, Other Applications
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Regional Insights -
Asia-Pacific
was the largest region in the precision aquaculture market in 2023.
Europe is expected to be the fastest-growing region in the forecast
period. The regions covered in the precision aquaculture market report
are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies
operating in the precision aquaculture market are Signify N.V., Pentair
PLC, Nofima AS, Cermaq Group AS, Skretting, Grieg Seafood ASA, AKVA
Group ASA, ScaleAQ, Benchmark Holdings PLC, In-Situ Inc., InnovaSea
Systems Inc., Biomar Group, INVE Aquaculture, Eruvaka Technologies,
BioFishency Ltd., Ace Aquatec, OxyGuard International A/S, Planet
Lighting Ltd., AquaMaof Aquaculture Technologies Ltd., SNRAS Systems
Private Ltd.
Table of Contents
1. Executive Summary
2. Precision Aquaculture Market Report Structure
3. Precision Aquaculture Market Trends And Strategies
4. Precision Aquaculture Market – Macro Economic Scenario
5. Precision Aquaculture Market Size And Growth
…..
27. Precision Aquaculture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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