Smart Aquaculture Market
Smart Aquaculture Market Forecasts to 2030 - Global Analysis By Type (Smart Feeding Systems, Monitoring & Control Systems, Water Treatment Systems, Aquaculture Intelligence, Underwater (ROVs), Cleaning Systems and Other Types), Farm Type, Species Type, Technology, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
CAGR (2024 - 2030) |
5.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Smart Aquaculture Market is growing at a CAGR of 5.8% during the forecast period. Smart aquaculture is the integration of advanced technologies and data-driven approaches in fish and seafood farming. This method utilizes tools such as sensors, artificial intelligence, and automation to optimize breeding, feeding, and environmental monitoring. By enhancing efficiency and sustainability, smart aquaculture aims to improve fish health, reduce waste, and minimize the environmental impact of aquaculture operations. Ultimately, it seeks to meet the growing global demand for seafood while ensuring the responsible use of aquatic resources.
Market Dynamics:
Driver:
Growing demand for seafood
Growing demand for seafood as a result of population expansion and rising health consciousness is driving the market's rapid expansion. This surge necessitates more efficient and sustainable farming practices to meet consumer needs. Smart aquaculture utilizes advanced technologies like IoT and AI to optimize production and reduce environmental impact. By improving resource management and fish health, this innovative approach aims to provide a steady supply of high-quality seafood while minimizing ecological footprints.
Restraint:
Technical expertise gaps
Technical expertise gaps in the smart aquaculture market can hinder the adoption of advanced technologies and limit operational efficiency. Insufficient knowledge about IoT, AI, and data analytics may prevent aquaculture operators from fully leveraging these tools, resulting in suboptimal production and management practices. This can lead to increased costs, reduced fish health, and a negative environmental impact, ultimately compromising the sustainability and growth potential of the aquaculture industry in meeting rising seafood demands.
Opportunity:
Sustainability and regulatory compliance
Sustainability and regulatory compliance are vital in the market, as they ensure responsible resource management and protect marine ecosystems. Utilizing advanced technologies allows operators to monitor environmental conditions, optimize feeding, and reduce waste, aligning with sustainability goals. By prioritizing these aspects, the smart aquaculture sector can enhance productivity while maintaining ecological integrity and consumer confidence in seafood products.
Threat:
High initial investment costs
High initial investment costs in the market can be a significant barrier for many operators. Implementing advanced technologies such as sensors, automation, and data analytics requires substantial financial outlay, which can deter small and medium-sized enterprises. This financial strain may limit access to innovative solutions that enhance efficiency and sustainability. Consequently, without adequate funding or support, the potential benefits of smart aquaculture may remain untapped, hindering overall industry growth.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the smart aquaculture market by disrupting supply chains and affecting labor availability. Lockdowns and health restrictions led to decreased demand for seafood, causing financial strain on operators. Additionally, the shift towards digital solutions accelerated the adoption of smart technologies as businesses sought to improve efficiency and reduce reliance on manual labor. Despite these challenges, the crisis highlighted the importance of resilience and innovation in the aquaculture industry.
The water treatment systems segment is projected to be the largest during the forecast period
The water treatment systems segment is projected to account for the largest market share during the projection period. Advanced filtration, oxygenation, and disinfection technologies help maintain water quality and enhance overall fish health. Integrating real-time monitoring systems allows operators to detect and address water quality issues promptly. By optimizing these systems, smart aquaculture can improve productivity, sustainability, and compliance with environmental regulations, supporting a healthier ecosystem.
The feed optimization segment is expected to have the highest CAGR during the forecast period
The feed optimization segment is expected to have the highest CAGR during the extrapolated period. Utilizing advanced technologies like data analytics and machine learning, operators can analyze nutritional requirements and feeding patterns to create tailored diets. This approach minimizes feed waste, reduces costs, and enhances fish welfare. By optimizing feed strategies, smart aquaculture not only improves economic viability but also supports sustainable practices by lowering environmental impacts associated with excess feed.
Region with largest share:
North America region is projected to account for the largest market share during the forecast period. Innovations such as IoT, AI, and data analytics are enhancing operational efficiency and sustainability in fish farming. Regulatory support and consumer awareness of sustainable practices further propel the market. As aquaculture adopts these smart solutions, it aims to improve productivity, reduce environmental impact, and meet the rising need for high-quality seafood.
Region with highest CAGR:
Asia Pacific is expected to register the highest growth rate over the forecast period due to increasing population pressures. The integration of IoT, AI, and machine learning is enhancing operational efficiencies in aquaculture practices, leading to better resource management and productivity. There is a rising demand for environmentally sustainable practices in aquaculture, prompting investments in smart technologies that reduce waste and improve yield.
Key players in the market
Some of the key players in Smart Aquaculture market include AKVA Group AS, Steinsvik AS, Innovasea Systems Inc, Exosite, Bluegrove, Aquabyte Inc, Cargill, Inc., Pentair Aquatic Eco-Systems, Blue Ridge Aquaculture, Tassal Group and Alltech.
Key Developments:
In January 2024, Cargill opened a new Provimi premix plant in South Vietnam with increased capacity and modern capabilities. This new plant will improve access to world-class additives and specialty ingredients for Vietnamese livestock and aquaculture farmers, as well as the nation’s feed mills.
In February 2023, Cargill partnered with Saudi Arabian authorities to boost aquaculture production in the Kingdom. The Arabian Agricultural Services Company (ARASCO) together with NEOM, and Cargill have signed an agreement to see how they can work together to support the sustainable expansion of the Saudi aquaculture sector.
Types Covered:
• Smart Feeding Systems
• Monitoring & Control Systems
• Water Treatment Systems
• Aquaculture Intelligence
• Underwater (ROVs)
• Cleaning Systems
• Other Types
Farm Types Covered:
• Recirculating Aquaculture Systems (RAS)
• Brackish Water Aquaculture
• Integrated Multi-Trophic Aquaculture (IMTA)
• Freshwater Aquaculture
• Coastal Aquaculture
Species Types Covered:
• Freshwater Species
• Saltwater Species
• Crustaceans
• Mollusks
• Other Species Types
Technologies Covered:
• Artificial Intelligence (AI)
• Automation and Robotics
• Blockchain
• Internet of Things
• Data Analytics
Applications Covered:
• Aquaculture Management
• Fish Health Monitoring
• Feed Optimization
• Water Quality Control
• Other Applications
End Users Covered:
• Commercial
• Government
• Research Institutions
• Distribution Companies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Smart Aquaculture Market, By Type
5.1 Introduction
5.2 Smart Feeding Systems
5.3 Monitoring & Control Systems
5.4 Water Treatment Systems
5.5 Aquaculture Intelligence
5.6 Underwater (ROVs)
5.7 Cleaning Systems
5.8 Other Types
6 Global Smart Aquaculture Market, By Farm Type
6.1 Introduction
6.2 Recirculating Aquaculture Systems (RAS)
6.3 Brackish Water Aquaculture
6.4 Integrated Multi-Trophic Aquaculture (IMTA)
6.5 Freshwater Aquaculture
6.6 Coastal Aquaculture
7 Global Smart Aquaculture Market, By Species Type
7.1 Introduction
7.2 Freshwater Species
7.2.1 Tilapia
7.2.2 Catfish
7.2.3 Trout
7.3 Saltwater Species
7.3.1 Salmon
7.3.2 Tuna
7.4 Crustaceans
7.4.1 Shrimp
7.4.2 Lobsters
7.4.3 Crabs
7.5 Mollusks
7.5.1 Oysters
7.5.2 Clams
7.5.3 Mussels
7.6 Other Species Types
8 Global Smart Aquaculture Market, By Technology
8.1 Introduction
8.2 Artificial Intelligence (AI)
8.3 Automation and Robotics
8.4 Blockchain
8.5 Internet of Things
8.6 Data Analytics
9 Global Smart Aquaculture Market, By Application
9.1 Introduction
9.2 Aquaculture Management
9.3 Fish Health Monitoring
9.4 Feed Optimization
9.5 Water Quality Control
9.6 Other Applications
10 Global Smart Aquaculture Market, By End User
10.1 Introduction
10.2 Commercial
10.3 Government
10.4 Research Institutions
10.5 Distribution Companies
10.6 Other End Users
11 Global Smart Aquaculture Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 AKVA Group AS
13.2 Steinsvik AS
13.3 Innovasea Systems Inc
13.4 Exosite
13.5 Bluegrove
13.6 Aquabyte Inc
13.7 Cargill, Inc.
13.8 Pentair Aquatic Eco-Systems
13.9 Blue Ridge Aquaculture
13.10 Tassal Group
13.11 Alltech
List of Tables
1 Global Smart Aquaculture Market Outlook, By Region (2022-2030) ($MN)
2 Global Smart Aquaculture Market Outlook, By Type (2022-2030) ($MN)
3 Global Smart Aquaculture Market Outlook, By Smart Feeding Systems (2022-2030) ($MN)
4 Global Smart Aquaculture Market Outlook, By Monitoring & Control Systems (2022-2030) ($MN)
5 Global Smart Aquaculture Market Outlook, By Water Treatment Systems (2022-2030) ($MN)
6 Global Smart Aquaculture Market Outlook, By Aquaculture Intelligence (2022-2030) ($MN)
7 Global Smart Aquaculture Market Outlook, By Underwater (ROVs) (2022-2030) ($MN)
8 Global Smart Aquaculture Market Outlook, By Cleaning Systems (2022-2030) ($MN)
9 Global Smart Aquaculture Market Outlook, By Other Types (2022-2030) ($MN)
10 Global Smart Aquaculture Market Outlook, By Farm Type (2022-2030) ($MN)
11 Global Smart Aquaculture Market Outlook, By Recirculating Aquaculture Systems (RAS) (2022-2030) ($MN)
12 Global Smart Aquaculture Market Outlook, By Brackish Water Aquaculture (2022-2030) ($MN)
13 Global Smart Aquaculture Market Outlook, By Integrated Multi-Trophic Aquaculture (IMTA) (2022-2030) ($MN)
14 Global Smart Aquaculture Market Outlook, By Freshwater Aquaculture (2022-2030) ($MN)
15 Global Smart Aquaculture Market Outlook, By Coastal Aquaculture (2022-2030) ($MN)
16 Global Smart Aquaculture Market Outlook, By Species Type (2022-2030) ($MN)
17 Global Smart Aquaculture Market Outlook, By Freshwater Species (2022-2030) ($MN)
18 Global Smart Aquaculture Market Outlook, By Tilapia (2022-2030) ($MN)
19 Global Smart Aquaculture Market Outlook, By Catfish (2022-2030) ($MN)
20 Global Smart Aquaculture Market Outlook, By Trout (2022-2030) ($MN)
21 Global Smart Aquaculture Market Outlook, By Saltwater Species (2022-2030) ($MN)
22 Global Smart Aquaculture Market Outlook, By Salmon (2022-2030) ($MN)
23 Global Smart Aquaculture Market Outlook, By Tuna (2022-2030) ($MN)
24 Global Smart Aquaculture Market Outlook, By Crustaceans (2022-2030) ($MN)
25 Global Smart Aquaculture Market Outlook, By Shrimp (2022-2030) ($MN)
26 Global Smart Aquaculture Market Outlook, By Lobsters (2022-2030) ($MN)
27 Global Smart Aquaculture Market Outlook, By Crabs (2022-2030) ($MN)
28 Global Smart Aquaculture Market Outlook, By Mollusks (2022-2030) ($MN)
29 Global Smart Aquaculture Market Outlook, By Oysters (2022-2030) ($MN)
30 Global Smart Aquaculture Market Outlook, By Clams (2022-2030) ($MN)
31 Global Smart Aquaculture Market Outlook, By Mussels (2022-2030) ($MN)
32 Global Smart Aquaculture Market Outlook, By Other Species Types (2022-2030) ($MN)
33 Global Smart Aquaculture Market Outlook, By Technology (2022-2030) ($MN)
34 Global Smart Aquaculture Market Outlook, By Artificial Intelligence (AI) (2022-2030) ($MN)
35 Global Smart Aquaculture Market Outlook, By Automation and Robotics (2022-2030) ($MN)
36 Global Smart Aquaculture Market Outlook, By Blockchain (2022-2030) ($MN)
37 Global Smart Aquaculture Market Outlook, By Internet of Things (2022-2030) ($MN)
38 Global Smart Aquaculture Market Outlook, By Data Analytics (2022-2030) ($MN)
39 Global Smart Aquaculture Market Outlook, By Application (2022-2030) ($MN)
40 Global Smart Aquaculture Market Outlook, By Aquaculture Management (2022-2030) ($MN)
41 Global Smart Aquaculture Market Outlook, By Fish Health Monitoring (2022-2030) ($MN)
42 Global Smart Aquaculture Market Outlook, By Feed Optimization (2022-2030) ($MN)
43 Global Smart Aquaculture Market Outlook, By Water Quality Control (2022-2030) ($MN)
44 Global Smart Aquaculture Market Outlook, By Other Applications (2022-2030) ($MN)
45 Global Smart Aquaculture Market Outlook, By End User (2022-2030) ($MN)
46 Global Smart Aquaculture Market Outlook, By Commercial (2022-2030) ($MN)
47 Global Smart Aquaculture Market Outlook, By Government (2022-2030) ($MN)
48 Global Smart Aquaculture Market Outlook, By Research Institutions (2022-2030) ($MN)
49 Global Smart Aquaculture Market Outlook, By Distribution Companies (2022-2030) ($MN)
50 Global Smart Aquaculture Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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