IoT for Fisheries and Aquaculture Market Size Journey: Embracing 13.34% CAGR Growth by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global IoT for Fisheries and Aquaculture Market- by Application (Feed Optimization, Monitoring and Surveillance, Yield Analysis and Measurement, and Other Applications), System Type (Smart Feeding Systems, Precision-fishing techniques, Smart Buoy technology, Metocean Data Collection, Monitoring and Control Systems, Underwater ROV Systems, and Other System Type), Farm Type (Open Aquaculture Farms and RAS Farms), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

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According to the latest research by InsightAce Analytic, the global IoT for Fisheries and Aquaculture market is valued at US$ 285.07 Million in 2022, and it is expected to reach US$ 868.96 Million by 2031, with a CAGR of 13.34 during a forecast period of 2024-2031.

IoT has already demonstrated a wide range of application sectors in recent years. Internet of Things (IoT)-based devices are used in the aquaculture sector to monitor aquaculture's basic needs and help provide fisheries necessities. IoT sensors will monitor various water variables to enhance fish habitat. These gadgets have sensors that assess the water's temperature and potential for hydrogen (pH) and two additional areas for testing kits that evaluate dissolved oxygen and ammonia levels, which are necessary for promising fish farming in the proper water.

The market for IoT in fisheries and aquaculture is anticipated to expand as a result of factors such as the expansion of aquaculture farms, rising R&D costs, product innovation, rapid adoption of cutting-edge technology, and the high demand for aquatic foods high in protein. Recirculating aquaculture systems (RAS), which are widely used in aquaculture farming, the rising use of aquaculture equipment in fish farms around the world, and the quick uptake of underwater ROVs in developing nations are the drivers propelling the market's growth. Businesses are focusing on developing cloud-based analytical software tools, including artificial intelligence, gathering data from satellites and smart sensors, and increasing aquaculture operations' effectiveness and environmental friendliness. Aquaculture's growing popularity will drive the future need for IoT in the aquaculture industry. The growth of the IoT for fisheries and aquaculture may be slowed down by complex system procedures, high monitoring costs for aquaculture farms, a lack of qualified operators, a large capital investment requirement, and a lack of farmers who are conversant with cutting-edge technologies.

The Asia Pacific is anticipated to be the major contributor to the IoT for the Fisheries and Aquaculture market over the forecast years because the aquaculture business is expanding and advanced technology is being adopted quickly. The leading nations in this region are China, India, Indonesia, and Japan. The increasing usage of aquaculture equipment in fish farms worldwide, the popularity of aquaculture farming employing recirculating aquaculture systems (RAS), and the rapid use of underwater ROVs in developing countries are the primary drivers of market expansion. In addition, the North America IoT for Fisheries and Aquaculture market is expected to grow significantly during the forecast period. The increasing number of aquaculture farms increased R&D spending, and extensive product innovation may boost the expansion of the IoT for the Fisheries and Aquaculture market in this region.

Major market players operating in the IoT for Fisheries and Aquaculture market include Lifegard Aquatics (US), Bluegrove (Norway), Imenco AS (Norway), In-Situ (US), Signify (Netherlands), Jala Tech (Indonesia), Maritech Systems (Norway), Aquaconnect (India), AquaMaof (Israel), Planet Lighting (Australia), MonitorFish (Germany), Observe Technologies (UK), AKVA group (Norway), InnovaSea Systems (US), Steinsvik (ScaleAQ) (Norway), Deep Trekker (Canada), Aquabyte (US), OxyGaurd (Denmark), Eruvaka Technologies (India), Akuakare (Turkey), CPI Equipment (Canada), Omso Systems (US), Optimar AS (Norway), Sensorex (Norway), BlueTraker, Scatri, ORBCOMM, NEC Global, Libelium, KDDI Corporation, HydroNeo, eFishery, Marine Instruments, Blue Ocean Gear, GO Smart, Satlink, BOC MetOcean, DHI Group, and Other Prominent Players.

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Recent collaborations and agreements in the market:
• In April 2022, Halma, a multinational coalition of life-saving technology companies, purchased Deep Trekker Inc. Deep Trekker will continue to operate as a distinct entity under Halma's leadership and will be integrated into the Environmental & Analysis sector.
• In June 2022, In order to deploy an artificial intelligence (A.I.) solution powered by the internet of things (IoT) water quality sensors, fisheries and AquaEasy inked a distribution cooperation agreement. This multimillion-dollar partnership intends to boost the production, profitability, and long-term viability of Indonesia's shrimp farming industry.

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Market Segments
Global IoT for Fisheries and Aquaculture Market, by Application, 2024-2031 (Value US$ Mn)
• Feed Optimization
• Monitoring and Surveillance
• Yield Analysis and Measurement
• Others

Global IoT for Fisheries and Aquaculture Market, by System Type, 2024-2031 (Value US$ Mn)
• Smart Feeding Systems
• Precision-fishing technique
• Monitoring and Control Systems
• Smart Buoy technology
• Metocean Data Collection
• Underwater ROV Systems
• Other System Type

Global IoT for Fisheries and Aquaculture Market, by Farm Type, 2024-2031 (Value US$ Mn)
• Open Aquaculture Farms
• RAS Farms

Global IoT for Fisheries and Aquaculture Market, by Region, 2024-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America IoT for Fisheries and Aquaculture Market, by Country, 2024-2031 (Value US$ Mn)
• U.S.
• Canada

Europe IoT for Fisheries and Aquaculture Market, by Country, 2024-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific IoT for Fisheries and Aquaculture Market, by Country, 2024-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America IoT for Fisheries and Aquaculture Market, by Country, 2024-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa IoT for Fisheries and Aquaculture Market, by Country, 2024-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global IoT for Fisheries and Aquaculture market
 To receive an industry overview and future trends of the IoT for Fisheries and Aquaculture market
 To analyze the IoT for Fisheries and Aquaculture market drivers and challenges
 To get information on the IoT for Fisheries and Aquaculture market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the IoT for Fisheries and Aquaculture market industry

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