IoT for Fisheries and Aquaculture Market Detailed Analysis with Accurate Forecast to 2031

IoT for Fisheries and Aquaculture Market worth $1.23 billion by 2030 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of market assessment report on "IoT for Fisheries and Aquaculture Market By Application (Feed Optimization, Monitoring and Surveillance, Yield Analysis & Measurement, and Other Applications), By 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)- By Trends, Industry Competition Analysis, Revenue and Forecast Till 2030"

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The global IoT market for fisheries and aquaculture was valued at US$ 415.37 million in 2021, and it is projected to reach US$ 1232.32 million in 2030, with a promising compound annual growth rate (CAGR) of 13.2% from 2022 to 2030, according to the most recent research by InsightAce Analytic.

IoT has already demonstrated a wide range of application sectors in recent years. Devices based on the Internet of Things (IoT) are used in the aquaculture industry to help provide fishery essentials and monitor the basic needs of aquaculture. To enhance the fish habitat, IoT sensors will be used to monitor a variety of water conditions. In addition to two extra sections for measuring the dissolved oxygen and ammonia levels using testing kits-both necessary for appropriate fish farming in the right water-these devices also have sensors that measure the water temperature and the Potential of Hydrogen (pH) level. Businesses are concentrating on creating cloud-based analytical software tools, such as artificial intelligence, to gather data from satellites and smart sensors and increase the efficiency and environmental friendliness of aquaculture operations. Future demand for IoT in the aquaculture business will be driven by the growing popularity of aquaculture.

The growing number of aquaculture farms, increased R&D expenditures, product innovation, rapid adoption of cutting-edge technologies, high demand for protein-rich aqua food, and growing government supportfor aquaculture infrastructure development are some of the factors propelling the IoTfor fisheries and aquaculture market. The growing usage of aquaculture equipment in fish farms across the globe, the acceptance of recirculating aquaculture systems (RAS) in aquaculture farming, and the rapid use of underwater ROVs in emerging countries are the main factors propelling the market's growth.

However, complex system processes, high monitoring costs for aquaculture farms, a high capital investment requirement,a lack of skilled operators, anda lack of Farmers familiar with cutting-edge technologies could all hinder the growth of the IoT for fisheries and aquaculture market.
Due to the rapid adoption of cutting-edge technology and the expanding aquaculture sector,the Asia-Pacific market is expected to dominate the market geographically over the forecast period. The top nations in this region are China, India, Indonesia, and Japan.

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

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Key developments
• In Apr 2022, Deep Trekker Inc. has been acquired by Halma, a global consortium of life-saving technology firms. Deep Trekker will continue to be run as a separate business under Halma's management and will join the Environmental & Analysis sector.
• In Jun 2022, A distribution partner agreement was established between eFishery and AquaEasy in order to implement an artificial intelligence (A.I.) solution supported by water quality internet of things (IoT) sensors. The goal of this multimillion-dollar partnership is to boost the productivity, financial success, and long-term viability of Indonesia's shrimp farming sector.
• In May 2022, Innovasea Unveils Tagless Fish Detection Technology that Counts Fish and Identifies Species in Real Time using imaging sonar, optical cameras and artificial intelligence.
• In January 2020, A significant provider of fish farming services in Newfoundland and Labrador, Newfoundland Aqua Service Ltd (NAS), was acquired by AKVA group. Fish cages, docks, boats and barges, and nets are all manufactured by NAS, which also provides a full range of services, such as on-land net washing and disinfection, net manufacturing, testing, and mending/repair, and antifoulant treatment. Through this acquisition, the company hopes to increase its geographic presence in this region.

Market Segments

IoT for Fisheries and Aquaculture Market, by Application, 2022-2030 (Value US$ Mn)
• Feed Optimization
• Monitoring and Surveillance
• Yield Analysis and Measurement
• Others

IoT for Fisheries and Aquaculture Market, by System Type, 2022-2030 (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

IoT for Fisheries and Aquaculture Market, by Farm Type, 2022-2030 (Value US$ Mn)
• Open Aquaculture Farms
• RAS Farms

IoT for Fisheries and Aquaculture Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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This release was published on openPR.