Precision Aquaculture Market: Greater Adoption of Sophisticated Tools for Fish Farming Sets Momentum for Global Precision Aquaculture Market Expansion

Over the forecast period, the precision aquaculture market is expected to make quantum leaps toward growth and advancements. This growth is mainly underpinned by the rise in the demand for advanced tools and techniques that are direct at amplifying production processes. The market is poised to expand owing to the use of cutting-edge technologies and novel innovations. This favorable adoption of emerging technologies is set to make fish farming easier, more affordable, and more lucrative. As a result, in the near future, prominent market players are anticipated to accelerate the pace of innovation, engaging in robust product differentiation. Moreover, industry leaders are predicted to pursue strategic alliances, mergers & acquisitions, and open innovation to gain a competitive edge in the global precision aquaculture market.

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Next-generation Technological Advancements to Spur Exponential Growth

High-tech advancements in the precision aquaculture market have left a positive impact on yields and outputs and reduced prices. The incorporation of frontier technologies, including IoT, ML, remotely operated vehicles (ROVs), and AI are projected to enhance production efficiency by minimizing wastage of resources. Furthermore, precision aquaculture intervention is also enabling fish farmers to gain profits and save time by effectively performing redundant operations. All these developments point toward the lucrative opportunities present in the diverse aspects of fish farming, such as monitoring systems, smart feeding systems, yield assessment, and feed optimization. Considering the surging adoption of the latest technology in fish farming, the precision aquaculture market is expected to grow at a brisk rate.

Soaring RAS Farms Create Tailwinds for Precision Aquaculture Market

Recirculating aquaculture systems (RAS) consistently filter the water from fish tanks, enabling it to be reused within the tank. This reduces the amount of water and space required for the production of seafood items. RAS is highly eco-friendly and provides better control to farmers which improves yielding at a nominal cost. According to the Food and Agriculture Organization of UN (FAO), RAS-based aquaculture commands over 5-8% of the global fish farms. This share is expected to elevate to 30% by 2030. Consequently, the aforementioned factors are a clear indicator of the promising growth prospects floating across the recirculating aquaculture systems segment. In addition to this, the growing awareness of the benefits of RAS farms is anticipated to fuel the overall precision aquaculture market expansion.

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Surging Demand for High-tech Tools in Aquaculture to Catalyze Remarkable Growth Across Asia Pacific

The precision aquaculture market in the Asia Pacific is projected to grow at an exponential rate owing to the presence of a flourishing fish farming industry. In view of the soaring demand for food, the region is beginning to incorporate the latest technologies to upscale food production. Emerging economies such as China and India are clamoring for state-of-the-art technologies, such as precision aquaculture. Notably, the precision aquaculture market of India is set to grow at an unprecedented speed due to the availability of abundant natural resources, favorable government initiatives, and relevant subsidies. Burgeoning growth in India and China is holistically contributing toward the expansion of the Asia Pacific's precision aquaculture market.

Key Market Players

Some of the major players operating in the global precision aquaculture market include Aquaconnect, AKVA Group, InnovaSea Systems Inc., Aquabyte AS, Bluegrove AS, Eruvaka Technologies Pvt. Ltd., Deep Trekker Inc., Imenco AS, Steinsvik, Jala Tech, Maritech Systems, and CPI Equipment Inc.

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