Smart aquaculture utilizes advanced technologies such as sensors, automation, data analytics, and the Internet of Things (IoT) to enhance the efficiency, productivity, and sustainability of aquaculture operations. It optimizes resource use and improves productivity through automation, data analytics, and IoT technologies, thereby promoting sustainability in aquatic farming operations.
The main offerings in smart aquaculture include hardware, software, and services. Hardware encompasses physical devices and equipment used for monitoring, controlling, and enhancing aquaculture operations. Examples include smart feeding systems, monitoring and control systems, and others, which find applications in both marine-based and land-based aquaculture.
The smart aquaculture market research report is one of a series of new reports that provides smart aquaculture market statistics, including smart aquaculture industry global market size, regional shares, competitors with an smart aquaculture market share, detailed smart aquaculture market segments, market trends and opportunities, and any further data you may need to thrive in the smart aquaculture industry. This smart aquaculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart aquaculture market size has grown strongly in recent years. It will grow from $3.84 billion in 2023 to $4.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increasing demands for environmental sustainability, regulatory compliance, competitive market pressures, shifting consumer preferences, and a focus on environmental responsibility.
The smart aquaculture market size is expected to see strong growth in the next few years. It will grow to $5.78 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to the increased adoption of IoT solutions, advancements in AI and machine learning applications, integration of blockchain for supply chain transparency, adaptation to climate change challenges, and growing investment and funding in smart aquaculture technologies. Major trends in the forecast period include urban aquaculture, shrimp farming innovations, wastewater management solutions, data-driven fish breeding techniques, adoption of recirculating aquaculture systems (RAS), and exploration of alternatives to sea-sourced food.
The anticipated rise in seafood consumption is set to drive the growth of the smart aquaculture market in the future. Seafood, encompassing various forms of sea life consumed as food, typically includes fish and shellfish. This trend is fueled by increasing awareness of the health benefits associated with omega-3 fatty acids and cultural preferences for seafood dishes. Smart aquaculture enhances seafood production through technology-driven improvements in resource management and environmental sustainability. For example, a report published in July 2023 by the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) projects a global per capita consumption of food fish to rise to 21.2 kg by 2032, up from an average of 20.4 kg during 2020-2022. Thus, the growing demand for seafood is expected to propel the smart aquaculture market.
Leading companies in the smart aquaculture sector are pursuing strategic partnerships to leverage complementary strengths and accelerate innovation in sustainable aquaculture technologies. Such partnerships involve collaborative efforts between organizations to combine resources, expertise, and efforts towards common goals. For instance, in October 2022, AquaEasy, a Singapore-based IT services and consulting firm, partnered with Grobest Group (CHPT), a Hong Kong-based food production company, to introduce AI into Vietnam’s shrimp industry. This collaboration aims to enhance the efficiency and sustainability of shrimp farming practices through Artificial Intelligence (AI) and Internet of Things (IoT) technologies. AquaEasy’s AI solutions provide real-time insights and recommendations on water quality management, feeding optimization, and harvest prediction, enabling shrimp farmers to boost productivity and profitability while minimizing risks and costs.
In August 2022, Nutreco N.V., a Netherlands-based provider of animal nutrition and aquaculture solutions, acquired Eruvaka Technologies to integrate advanced aquaculture monitoring and automation solutions. This acquisition aims to enhance operational efficiency and expand Nutreco’s global footprint in the smart aquaculture sector. Eruvaka Technologies, based in India, specializes in developing tech solutions for aquaculture ponds, including underwater acoustic-based feeding systems.
Major companies operating in the smart aquaculture market are AKVA Group AS, Steinsvik AS, Innovasea Systems Inc, In-Situ Inc, Imenco AS, Exosite, Bluegrove, Aquabyte Inc, OptoScale, Observe Technologies, Eruvaka Technologies Pvt Ltd, Adroit Inc., SENECT GmbH, Singapore Aquaculture Technologies, CPI Equipment Inc, AQ1 Systems Pty Ltd, MonitorFish GmbH, XpertSea Solutions Inc, CageEye AS, Pelagic Data Systems, AquaMaof Aquaculture Technologies Ltd, Maritech, VAKI Aquaculture Systems Ltd, AquaManager.
North America was the largest region in the smart aquaculture market in 2023. The regions covered in the smart aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart aquaculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart aquaculture market consists of revenues earned by entities by providing services such as technical consulting, system maintenance, sustainability consulting, and data analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart aquaculture market also includes sales of aquaculture monitoring and control systems, aquatic species identification and health monitoring devices, smart aquaculture pens and cages, water treatment and filtration systems tailored for aquaculture. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The main offerings in smart aquaculture include hardware, software, and services. Hardware encompasses physical devices and equipment used for monitoring, controlling, and enhancing aquaculture operations. Examples include smart feeding systems, monitoring and control systems, and others, which find applications in both marine-based and land-based aquaculture.
The smart aquaculture market research report is one of a series of new reports that provides smart aquaculture market statistics, including smart aquaculture industry global market size, regional shares, competitors with an smart aquaculture market share, detailed smart aquaculture market segments, market trends and opportunities, and any further data you may need to thrive in the smart aquaculture industry. This smart aquaculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart aquaculture market size has grown strongly in recent years. It will grow from $3.84 billion in 2023 to $4.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increasing demands for environmental sustainability, regulatory compliance, competitive market pressures, shifting consumer preferences, and a focus on environmental responsibility.
The smart aquaculture market size is expected to see strong growth in the next few years. It will grow to $5.78 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to the increased adoption of IoT solutions, advancements in AI and machine learning applications, integration of blockchain for supply chain transparency, adaptation to climate change challenges, and growing investment and funding in smart aquaculture technologies. Major trends in the forecast period include urban aquaculture, shrimp farming innovations, wastewater management solutions, data-driven fish breeding techniques, adoption of recirculating aquaculture systems (RAS), and exploration of alternatives to sea-sourced food.
The anticipated rise in seafood consumption is set to drive the growth of the smart aquaculture market in the future. Seafood, encompassing various forms of sea life consumed as food, typically includes fish and shellfish. This trend is fueled by increasing awareness of the health benefits associated with omega-3 fatty acids and cultural preferences for seafood dishes. Smart aquaculture enhances seafood production through technology-driven improvements in resource management and environmental sustainability. For example, a report published in July 2023 by the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) projects a global per capita consumption of food fish to rise to 21.2 kg by 2032, up from an average of 20.4 kg during 2020-2022. Thus, the growing demand for seafood is expected to propel the smart aquaculture market.
Leading companies in the smart aquaculture sector are pursuing strategic partnerships to leverage complementary strengths and accelerate innovation in sustainable aquaculture technologies. Such partnerships involve collaborative efforts between organizations to combine resources, expertise, and efforts towards common goals. For instance, in October 2022, AquaEasy, a Singapore-based IT services and consulting firm, partnered with Grobest Group (CHPT), a Hong Kong-based food production company, to introduce AI into Vietnam’s shrimp industry. This collaboration aims to enhance the efficiency and sustainability of shrimp farming practices through Artificial Intelligence (AI) and Internet of Things (IoT) technologies. AquaEasy’s AI solutions provide real-time insights and recommendations on water quality management, feeding optimization, and harvest prediction, enabling shrimp farmers to boost productivity and profitability while minimizing risks and costs.
In August 2022, Nutreco N.V., a Netherlands-based provider of animal nutrition and aquaculture solutions, acquired Eruvaka Technologies to integrate advanced aquaculture monitoring and automation solutions. This acquisition aims to enhance operational efficiency and expand Nutreco’s global footprint in the smart aquaculture sector. Eruvaka Technologies, based in India, specializes in developing tech solutions for aquaculture ponds, including underwater acoustic-based feeding systems.
Major companies operating in the smart aquaculture market are AKVA Group AS, Steinsvik AS, Innovasea Systems Inc, In-Situ Inc, Imenco AS, Exosite, Bluegrove, Aquabyte Inc, OptoScale, Observe Technologies, Eruvaka Technologies Pvt Ltd, Adroit Inc., SENECT GmbH, Singapore Aquaculture Technologies, CPI Equipment Inc, AQ1 Systems Pty Ltd, MonitorFish GmbH, XpertSea Solutions Inc, CageEye AS, Pelagic Data Systems, AquaMaof Aquaculture Technologies Ltd, Maritech, VAKI Aquaculture Systems Ltd, AquaManager.
North America was the largest region in the smart aquaculture market in 2023. The regions covered in the smart aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart aquaculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart aquaculture market consists of revenues earned by entities by providing services such as technical consulting, system maintenance, sustainability consulting, and data analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart aquaculture market also includes sales of aquaculture monitoring and control systems, aquatic species identification and health monitoring devices, smart aquaculture pens and cages, water treatment and filtration systems tailored for aquaculture. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Smart Aquaculture Market Characteristics3. Smart Aquaculture Market Trends And Strategies32. Global Smart Aquaculture Market Competitive Benchmarking33. Global Smart Aquaculture Market Competitive Dashboard34. Key Mergers And Acquisitions In The Smart Aquaculture Market
4. Smart Aquaculture Market - Macro Economic Scenario
5. Global Smart Aquaculture Market Size and Growth
6. Smart Aquaculture Market Segmentation
7. Smart Aquaculture Market Regional And Country Analysis
8. Asia-Pacific Smart Aquaculture Market
9. China Smart Aquaculture Market
10. India Smart Aquaculture Market
11. Japan Smart Aquaculture Market
12. Australia Smart Aquaculture Market
13. Indonesia Smart Aquaculture Market
14. South Korea Smart Aquaculture Market
15. Western Europe Smart Aquaculture Market
16. UK Smart Aquaculture Market
17. Germany Smart Aquaculture Market
18. France Smart Aquaculture Market
19. Italy Smart Aquaculture Market
20. Spain Smart Aquaculture Market
21. Eastern Europe Smart Aquaculture Market
22. Russia Smart Aquaculture Market
23. North America Smart Aquaculture Market
24. USA Smart Aquaculture Market
25. Canada Smart Aquaculture Market
26. South America Smart Aquaculture Market
27. Brazil Smart Aquaculture Market
28. Middle East Smart Aquaculture Market
29. Africa Smart Aquaculture Market
30. Smart Aquaculture Market Competitive Landscape And Company Profiles
31. Smart Aquaculture Market Other Major And Innovative Companies
35. Smart Aquaculture Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Smart Aquaculture Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on smart aquaculture market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for smart aquaculture ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart aquaculture market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Offering: Hardware; Software; Services2) By Type: Smart Feeding Systems; Monitoring And Control Systems; Other Types
3) By Application: Marine Based Aquaculture; Land Based Aquaculture
Key Companies Mentioned: AKVA Group AS; Steinsvik AS; Innovasea Systems Inc; In-Situ Inc; Imenco AS
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- AKVA Group AS
- Steinsvik AS
- Innovasea Systems Inc
- In-Situ Inc
- Imenco AS
- Exosite
- Bluegrove
- Aquabyte Inc
- OptoScale
- Observe Technologies
- Eruvaka Technologies Pvt Ltd
- Adroit Inc.
- SENECT GmbH
- Singapore Aquaculture Technologies
- CPI Equipment Inc
- AQ1 Systems Pty Ltd
- MonitorFish GmbH
- XpertSea Solutions Inc
- CageEye AS
- Pelagic Data Systems
- AquaMaof Aquaculture Technologies Ltd
- Maritech
- VAKI Aquaculture Systems Ltd
- AquaManager
Methodology
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