JERSEY CITY, NJ, February 21, 2022 /PRNewswire/ — Verified Market Research recently published a report: “Precision Aquaculture MarketBy system type (feeding systems, monitoring and control, submersible ROVs), by offering (hardware, software, services), by farm type (cage-based, RAS), and by geography. According to verified market research, the global precision aquaculture market size has been assessed $335.22 million in 2020 and is expected to be achieved $933.56 million to 2028 and growing at a CAGR of 13.4% from 2021 to 2028.
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37 – Numbers
Overview of the global precision aquaculture market
Key demand for protein-rich aquafood followed by rising middle-class incomes is driving the global precision aquaculture market. The greater adoption of the latest modern technology, artificial intelligence, feeding robots and remotely operated underwater vehicles will increase demand for the global precision aquaculture market. The growing number of aquaculture farms and an increase in aquaculture production are bringing countless growth opportunities to the market. In addition, the escalation focuses on the deployment of large-scale offshore aquaculture projects and various government initiatives will have a positive impact on the potential growth of the market.
The increasing popularity of aquaculture is a contributor to significant opportunities for the implementation of land-based recirculating aquaculture systems. Among the notable elements that are hampering the growth of the global precision aquaculture market are the high monitoring costs of aquaculture farms, the limited availability of skilled operators, the system complexity, the need for high capital expenditure, and the lack of technological awareness among farmers across the globe. The high operating costs of vessels and the unforeseen environmental degradation in seawater further hamper the precision aquaculture market during the forecast period. It is estimated that an increasing number of aquaculture farms around the world is creating significant opportunities for the precision aquaculture market.
- in the November 2020Innovasea Systems introduced new V3 acoustic telemetry transmitters, which are the smallest in its industry-leading line of fish finder tags.
- in the November 2020AKVA Group has entered into an agreement with Nordic Aqua Ningbo to supply a complete outdoor RAS installation shanghai. The project has a planned production volume of 8,000 tons in 2026. In 2020, Daikin launched “Carrime”, a portable air conditioner, using the Daikin Launch X innovation platform.
The main players in the market are AKVA Group, InnovaSea System, Steinsvik, Deep Trekker, Aquabyte, Eruvaka Technologies, Akuakare, CPI Equipment, Bluegrove, Jala Tech, among others.
Verified Market Research has segmented the global precision aquaculture market on the basis of system type, offering, farm type, and geography.
- Precision Aquaculture Market by System Type
- feeding systems
- Monitoring & Control
- underwater ROVs
- Precision Aquaculture Market by Supply
- Precision Aquaculture Market by Farm Type
- Precision Aquaculture Market by Geography
- North America
- United Kingdom
- the rest of Europe
- Asia Pacific
- the rest of Asia Pacific
- middle East & Africa
- Latin America
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