Press release
Smart Aquaculture Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Smart Aquaculture
The growing consumption of seafood is expected to spur the smart aquaculture market. As awareness of the health benefits of seafood increases, the demand for efficient production methods like smart aquaculture is rising. The OECD reported that global seafood consumption per capita is expected to rise by 0.8 kg by 2032, highlighting the growth potential of the smart aquaculture market.
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What is the future CAGR of the smart aquaculture market, and how will it impact industry expansion?
The smart aquaculture market has grown significantly in recent years. It will rise from $4.16 billion in 2024 to $4.52 billion in 2025, at a CAGR of 8.7%. The historical growth can be attributed to environmental sustainability demands, regulatory compliance, competitive market pressures, changing consumer preferences, and a growing focus on environmental sustainability.
The smart aquaculture market is anticipated to grow significantly, reaching $6.26 billion by 2029 with a compound annual growth rate (CAGR) of 8.5%. This growth is driven by the increasing use of IoT solutions, advancements in AI and machine learning, the integration of blockchain for supply chain transparency, adaptations to climate change, and rising investments in smart aquaculture technologies. Key trends include urban aquaculture, shrimp farming, wastewater management, data-driven fish breeding, recirculating aquaculture systems (RAS), and alternatives to sea-sourced food.
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What are the most significant trends transforming the smart aquaculture market today?
Companies in the smart aquaculture market are using strategic partnerships to foster innovation in sustainable aquaculture technologies. A strategic partnership refers to collaborations that combine resources to achieve mutual goals. For example, in October 2022, AquaEasy, a Singapore-based IT services company, partnered with Grobest Group, a Hong Kong-based food production company, to introduce AI solutions to the shrimp farming industry in Vietnam. The collaboration applies AI and IoT technologies to optimize water quality, feeding, and harvest prediction, helping farmers improve productivity while reducing risks and costs.
Which key market segments comprise the smart aquaculture market and drive its revenue growth?
The smart aquaculture market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Type: Smart Feeding Systems, Monitoring And Control Systems, Other Types
3) By Application: Marine Based Aquaculture, Land Based Aquaculture
Subsegments:
1) By Hardware: Sensors, Automation Systems, Cameras, Water Quality Monitoring Devices, Feeding Systems, Monitoring And Control Systems
2) By Software: Data Analytics Software, Aquaculture Management Software, AI And Machine Learning-Based Solutions, Cloud-Based Platforms, Monitoring And Reporting Software
3) By Services: System Integration, Consulting, Training And Support Services, Maintenance And Repair Services
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Which regions are key players in the growth of the smart aquaculture market?
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.
Who are the leading players fueling growth in the smart aquaculture market?
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
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What Is Covered In The Smart Aquaculture Global Market Report?
•Market Size Forecast: Examine the smart aquaculture market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart aquaculture market for a structured understanding.
•Key Players Overview: Analyze major players in the smart aquaculture market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart aquaculture market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart aquaculture market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart aquaculture market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart aquaculture market.
•Competitive Landscape: Review strategic developments in the smart aquaculture market, including expansions, agreements, and new product launches.
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