Major factors driving the growth of precision aquaculture market includes surging adoption of advanced
technologies such as IoT, RoVs, and AI in aquaculture farms, growing
investments in aquaculture technology and R&D projects technological
research efforts and equipment innovations, rising income levels and demand for
protein-rich aqua food, increasing support by worldwide governments for
infrastructure development in aquaculture. The growing use of computerized
feeding management systems combined with sensors and other IoT and AI-based
aquaculture monitoring devices, which are integrated with feeding systems opens
new opportunities for monitoring of fish ponds and aquaculture farms..
Which region
is expected to witness significant demand for precision aquaculture market in
the coming years?
The Americas, mainly driven by South America,
is expected to witness the highest growth in the precision aquaculture market
during the forecast period due to the increasing adoption of automated
solutions including underwater ROVs and smart camera systems in aquaculture
farms and growing focus on the deployment of IoT-based monitoring devices in
aquaculture farms owing to various advantages such as increased productivity
and early detection of diseases among aquatic species offered by these
monitoring devices.
Which type
of system is expected to be growing at the highest rate in the precision
aquaculture market?
The market for underwater remotely operated
vehicles followed by monitroing and control systems is expected to grow at the
highest rate in the years to come. The adoption trend of underwater ROVs in
Western Europe and North America has gained good traction in recent years.
Currently, countries such as the US, Canada, Norway, and Chile account for more
than 60% of the installed base of underwater ROVs. Monitoring systems deliver real-time
data about the fish farm conditions. This data is collected and stored on cloud
so that it can be viewed and analyzed when required.
Which are
the major companies in the precision aquaculture market? What are their major
strategies to strengthen their market presence?
Key players in the precision aquaculture
market are AKVA group (Norway), InnovaSea Systems (US), Deep Trekker (Canada),
Eruvaka Technology (India), Steinsvik (Norway), Pentair AES (US), Aquabyte
(US), Akuakare (Turkey), CPI Equipment (Canada), Lifegard Aquatics (US), Imenco
AS (Norway), In-Situ (US), Vemco (US), JALA Tech (Indonesia), MonitorFish
(Germany), Imenco Aquaculture (Norway), Osmo Systems (US), and Aqualine AS
(Norway). AKVA group is one of the leading provider of aquaculture systems such
as land-based nad cage-based aquaculture systems. The major strategies adopted
by these players are product launches and expansion through partnership and
accquisitions.
Which are
the major applications of precision aquaculture technlogy ? How huge is the
opportunity for their growth in the next five years?
The major applications of precision
aquaculture technologies includes feeding management; monitoring, control, and
surveillance; and other applications like yield analysis, biomass estimation,
fish size estimation, net inspection, lice counting, and fish appetite detection
applications. The monitoring, control, and surveillance application is expected
to command the precision aquaculture market from 2020 to 2024. Precision
aquaculture market is expected to provide an opportunity of ~USD 0.8 billion by
2024 due to incraesing installation of automated aquaculture farm monitoring
devices such as IoT-based monitoring devices, underwater ROVs, and smart camera
systems and the growing focus of aquaculture farmers on effective management of
fisheries to ensure improved farm productivity and efficiency..
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