The global precision aquaculture market
is estimated to grow from USD 407 million in 2021 to USD 794 million by 2026;
growing at a CAGR of 14.3%. Precision aquaculture technology has the potential
to transform the aquaculture industry, making traditional aquaculture
activities more efficient and economical. The growth of the precision
aquaculture market is driven by factors such as growing investments in
technological research and product innovation, the surging adoption of advanced
technologies such as IoT, ROVs, and AI for the real-time monitoring of
aquaculture farms, the rising demand for protein-rich aqua food, and increasing
support by worldwide governments for infrastructure development in aquaculture
Key players in the
precision aquaculture market are AKVA group (Norway), InnovaSea Systems (US),
Steinsvik (ScaleAQ) (Norway), Deep Trekker (Canada), Aquabyte (US), Eruvaka
Technologies (India), Akuakare (Turkey), CPI Equipment (Canada), Lifegard
Aquatics (US), Bluegrove (Norway), Imenco AS (Norway), In-Situ (US), Signify
(Netherlands), Jala Tech (Indonesia), Planet Lighting (Australia), Maritech
Systems (Norway), OxyGaurd (Denmark), Aquaconnect (India), AquaMaof (Israel),
MonitorFish (Germany), Observe Technologies (UK), Omso Systems (US), Optimar AS
(Norway), and Sensorex (Norway).
AKVA group is one of
the leading players in the precision aquaculture market. AKVA group is known
for its fit-for-purpose solutions for the global aquaculture industry. Mergers
and acquisitions, collaborations, and product launches have been the major strategies
adopted by the company to increase its share in the precision aquaculture
market. For instance, in 2018, the company acquired Egersund Net AS to gain a
leading position in the precision aquaculture market and broaden its product
portfolio and service offerings. AKVA group has recently strengthened its
position for aquaculture technology products in the Americas with a strong
market share in Canada and Chile by increasing its distribution and sales
network in these regions. The company also plans to strengthen its position in
Asia Pacific in the coming years through partnerships and alliances. It is also
planning to develop a next-generation Polar Circle Cage Solution and fully
electric boat for the aquaculture industry. The company should consider
focusing on ensuring its growth in the precision aquaculture market by
investing in underwater remotely-operated vehicles (ROVs) and advanced
automation equipment for the aquaculture industry.
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InnovaSea is the global
leader in developing and implementing leading-edge, sustainable, innovative,
and fully-integrated commercial open-ocean fish farming systems. The company
has dedicated resources that develop and commercialize innovative, fully
integrated, and sustainable fish farming solutions for open-ocean aquaculture.
It is well-known for its acoustic telemetry equipment used by researchers
worldwide. InnovaSea uses acquisition as a major growth strategy to expand its
business operations across the world. Innovasea Systems has acquired Amirix
Systems whose subsidiaries, namely, Vemco and HTI-Vemco are the leaders in fish
tracking and monitoring solutions for aquaculture researchers worldwide. This
acquisition enabled InnovSea to integrate Amirix’s sensors, architecture, and
established products into its aquaculture instrumentation to provide a complete
integrated solution designed for monitoring aquaculture farms. The company
should consider focusing on ensuring its growth in the precision aquaculture
market.
Steinsvik
(ScaleAQ) is a
world-leading technology supplier to the global aquaculture industry. The
company is a market leader in camera systems for the aquaculture industry since
1985. It has a strong presence in Western European countries, such as Norway,
Ireland, and Scotland. The company could consider exploring new opportunities
in developing countries in South America and Asia Pacific through partnerships
and alliances with local distributors. It can also focus on penetrating its HD
and 4K camera systems in new markets in the coming years.
Deep Trekker
provides innovative remotely-operated vehicles for monitoring aquaculture
feeding in real time. The DTG3 ROV product of the company offers high-end
performance, reaching depths of 305 meters (1,000 ft.) and 12-hour battery
life. The company has a strong product portfolio to fulfill the demands of the
customers from the aquaculture industry. Underwater ROVs provided by the
company are equipped with a 4K UHD camera, which can record footage and capture
images in high definition. Deep Trekker has also developed the most intelligent
technology platform called BRIDGE for efficient communication and enhanced
functioning of underwater ROVs. The use of advanced algorithms in the BRIDGE
platform ensures a seamless response between a controller and a vehicle from anywhere
in the world. The company has a significant presence in countries such as
Canada and Norway. Deep Trekker recently expanded its operations in South
America through a new office in Chile.
Eruvaka Technology
develops connected devices and mobile-based decision tools to ensure affordable
monitoring and automation of aquaculture farms. The company’s IoT-based
products allow farmers to actively monitor pond parameters and remotely control
automated equipment, which reduces farming risk while increasing feed
efficiency and shrimp growth. The company has a strong presence in South Asia.
Recently, Eruvaka raised a Series B round of funding led by Nutreco to expand
its footprint outside India. The company could consider focusing on expanding
its business operations in Southeast Asia, North America, Latin America, and
Europe.
Major players in the
precision aquaculture market are mainly focusing on acquisitions and
partnerships along-with new product launches to achieve continuous and
sustainable development.
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