The global precision aquaculture market size accounted for USD 481.5 billion in 2022 and is expected to grow around USD 899.57 billion by 2032, growing at a CAGR of 6.50% from 2023 to 2032.
Key Takeaways
- North America contributed more than 46% of revenue share in 2022.
- Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- The hardware segment has held the largest market share of 61% in 2022.
- The service segment is anticipated to grow at a remarkable CAGR of 10.2% between 2023 and 2032.
- The monitoring & surveillance segment generated over 34% of revenue share in 2022.
- The feed optimization segment is expected to expand at the fastest CAGR over the projected period.
- The monitoring & control system segment had the largest market share of 50% in 2022.
- The smart feeding system segment is expected to expand at the fastest CAGR over the projected period.
- The open aquaculture farm segment generated over 59% of revenue share in 2022.
- The RAS farm segment is expected to expand at the fastest CAGR over the projected period.
Precision aquaculture refers to the application of advanced technologies and data-driven approaches to enhance the efficiency, sustainability, and productivity of aquaculture practices. This innovative approach integrates various technologies such as sensors, automation, and data analytics to monitor and manage fish farming operations with precision. The goal is to optimize resource utilization, improve environmental sustainability, and ultimately increase the yield of aquaculture systems.
Furthermore, the research report provides specific segmentations based on regions (countries), companies, and all market segments. This analysis offers insights into the growth and revenue trends during the historical period of 2017 to 2032, as well as the projected period. By understanding these segments, it becomes possible to identify the significance of different factors that contribute to market growth.
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Growth Factors
The precision aquaculture market is experiencing significant growth driven by several key factors. Technological advancements, particularly in sensor technologies and IoT (Internet of Things), have enabled real-time monitoring of crucial parameters like water quality, temperature, and feeding patterns. This data-driven precision allows farmers to make informed decisions, optimize feeding regimes, and detect health issues in fish populations promptly. The increasing global demand for seafood, coupled with the need for sustainable and efficient aquaculture practices, further propels the growth of precision aquaculture.
Precision Aquaculture Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 6.50% |
| Market Size in 2023 | USD 510.39 Billion |
| Market Size by 2032 | USD 899.57 Billion |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Offering, By Application, By System Type, and By Farm Type |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Also read: Paper and Paperboard Packaging Market Size To Rise USD 670.38 Billion By 2032
Opportunities:
The precision aquaculture sector presents numerous opportunities for industry players. Integration of artificial intelligence (AI) and machine learning (ML) algorithms allows for predictive analytics, helping farmers anticipate and mitigate challenges. Furthermore, the demand for aquaculture products with minimal environmental impact opens doors for precision aquaculture technologies to address sustainability concerns. Collaborations between technology providers, aquaculture researchers, and industry stakeholders can foster innovation and unlock new opportunities for the development of precision aquaculture solutions.
Challenges:
Despite its promising outlook, precision aquaculture faces challenges that require attention. Initial implementation costs of advanced technologies can be a barrier for small-scale farmers. Additionally, the integration of data-driven approaches demands a certain level of technical expertise, posing a challenge for traditional farming practices. Data security and privacy concerns also arise as aquaculture operations become more interconnected. Striking a balance between technology adoption, scalability, and accessibility for diverse farming communities will be crucial to overcoming these challenges and ensuring the widespread success of precision aquaculture.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the electric vehicle fuel cell market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the electric vehicle fuel cell market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Electric vehicle fuel cell market.
Market Segments: This part of the report discusses product, application and other segments of the electric vehicle fuel cell market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
Market Key Players
The report incorporates company profiles of key players in the market. These profiles encompass vital information such as product portfolio, key strategies, and a comprehensive SWOT analysis for each player. Additionally, the report presents a matrix illustrating the presence of each prominent player, enabling readers to gain actionable insights. This facilitates a thoughtful assessment of the market status and aids in predicting the level of competition in the precision aquaculture market.
Precision Aquaculture Market Players
- AKVA Group
- Aquabyte
- Aquafine Corporation
- Aquaculture Systems Technologies (AST)
- Cermaq
- Cooke Aquaculture
- Deep Trekker Inc.
- In-Situ, Inc.
- InnovaSea Systems, Inc.
- Jala Tech
- Pentair Aquatic Eco-Systems
- Pioneer AQUA
- XpertSea
- Steinsvik
- Vaki
Market Segmentations
By Offering
- Hardware
- Software
- Service
By Application
- Feed Optimization
- Monitoring & Surveillance
- Yield analysis & Measurement
- Others
By System Type
- Smart Feeding System
- Monitoring & Control System
- Underwater Remotely Operated Vehicle System
- Others
By Farm Type
- Open Aquaculture Farm
- RAS Farm
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Table of Content:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Precision Aquaculture Market
5.1. COVID-19 Landscape: Precision Aquaculture Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Precision Aquaculture Market, By Offering
8.1. Precision Aquaculture Market, by Offering, 2023-2032
8.1.1. Hardware
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Software
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Service
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Precision Aquaculture Market, By Application
9.1. Precision Aquaculture Market, by Application, 2023-2032
9.1.1. Feed Optimization
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Monitoring & Surveillance
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Yield analysis & Measurement
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Precision Aquaculture Market, By System Type
10.1. Precision Aquaculture Market, by System Type, 2023-2032
10.1.1. Smart Feeding System
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Monitoring & Control System
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Underwater Remotely Operated Vehicle System
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Others
10.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Precision Aquaculture Market, By Farm Type
11.1. Precision Aquaculture Market, by Farm Type, 2023-2032
11.1.1. Open Aquaculture Farm
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. RAS Farm
11.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Precision Aquaculture Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Offering (2020-2032)
12.1.2. Market Revenue and Forecast, by Application (2020-2032)
12.1.3. Market Revenue and Forecast, by System Type (2020-2032)
12.1.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Offering (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Application (2020-2032)
12.1.5.3. Market Revenue and Forecast, by System Type (2020-2032)
12.1.5.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Offering (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Application (2020-2032)
12.1.6.3. Market Revenue and Forecast, by System Type (2020-2032)
12.1.6.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Offering (2020-2032)
12.2.2. Market Revenue and Forecast, by Application (2020-2032)
12.2.3. Market Revenue and Forecast, by System Type (2020-2032)
12.2.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Offering (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
12.2.5.3. Market Revenue and Forecast, by System Type (2020-2032)
12.2.5.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Offering (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
12.2.6.3. Market Revenue and Forecast, by System Type (2020-2032)
12.2.6.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Offering (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Application (2020-2032)
12.2.7.3. Market Revenue and Forecast, by System Type (2020-2032)
12.2.7.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Offering (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Application (2020-2032)
12.2.8.3. Market Revenue and Forecast, by System Type (2020-2032)
12.2.8.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Offering (2020-2032)
12.3.2. Market Revenue and Forecast, by Application (2020-2032)
12.3.3. Market Revenue and Forecast, by System Type (2020-2032)
12.3.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Offering (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
12.3.5.3. Market Revenue and Forecast, by System Type (2020-2032)
12.3.5.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Offering (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
12.3.6.3. Market Revenue and Forecast, by System Type (2020-2032)
12.3.6.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Offering (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Application (2020-2032)
12.3.7.3. Market Revenue and Forecast, by System Type (2020-2032)
12.3.7.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Offering (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Application (2020-2032)
12.3.8.3. Market Revenue and Forecast, by System Type (2020-2032)
12.3.8.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Offering (2020-2032)
12.4.2. Market Revenue and Forecast, by Application (2020-2032)
12.4.3. Market Revenue and Forecast, by System Type (2020-2032)
12.4.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Offering (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
12.4.5.3. Market Revenue and Forecast, by System Type (2020-2032)
12.4.5.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Offering (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
12.4.6.3. Market Revenue and Forecast, by System Type (2020-2032)
12.4.6.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Offering (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Application (2020-2032)
12.4.7.3. Market Revenue and Forecast, by System Type (2020-2032)
12.4.7.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Offering (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Application (2020-2032)
12.4.8.3. Market Revenue and Forecast, by System Type (2020-2032)
12.4.8.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Offering (2020-2032)
12.5.2. Market Revenue and Forecast, by Application (2020-2032)
12.5.3. Market Revenue and Forecast, by System Type (2020-2032)
12.5.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Offering (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Application (2020-2032)
12.5.5.3. Market Revenue and Forecast, by System Type (2020-2032)
12.5.5.4. Market Revenue and Forecast, by Farm Type (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Offering (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Application (2020-2032)
12.5.6.3. Market Revenue and Forecast, by System Type (2020-2032)
12.5.6.4. Market Revenue and Forecast, by Farm Type (2020-2032)
Chapter 13. Company Profiles
13.1. AKVA Group
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Aquabyte
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Aquafine Corporation
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Aquaculture Systems Technologies (AST)
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Cermaq
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Cooke Aquaculture
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Deep Trekker Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. In-Situ, Inc.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. InnovaSea Systems, Inc.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Jala Tech
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Why should you invest in this report?
This report presents a compelling investment opportunity for those interested in the global precision aquaculture market. It serves as an extensive and informative guide, offering clear insights into this niche market. By delving into the report, you will gain a comprehensive understanding of the various major application areas for precision aquaculture. Furthermore, it provides crucial information about the key regions worldwide that are expected to experience substantial growth within the forecast period of 2023-2030. Armed with this knowledge, you can strategically plan your market entry approaches.
Moreover, this report offers a deep analysis of the competitive landscape, equipping you with valuable insights into the level of competition prevalent in this highly competitive market. If you are already an established player, it will enable you to assess the strategies employed by your competitors, allowing you to stay ahead as market leaders. For newcomers entering this market, the extensive data provided in this report is invaluable, providing a solid foundation for informed decision-making.
Some of the key questions answered in this report:
- What is the size of the overall Precision aquaculture market and its segments?
- What are the key segments and sub-segments in the market?
- What are the key drivers, restraints, opportunities and challenges of the Precision aquaculture market and how they are expected to impact the market?
- What are the attractive investment opportunities within the Precision aquaculture market?
- What is the Precision aquaculture market size at the regional and country-level?
- Who are the key market players and their key competitors?
- What are the strategies for growth adopted by the key players in Precision aquaculture market?
- What are the recent trends in Precision aquaculture market? (M&A, partnerships, new product developments, expansions)?
- What are the challenges to the Precision aquaculture market growth?
- What are the key market trends impacting the growth of Precision aquaculture market?
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