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Increasing Demand For Sustainable Seafood Production Driving Growth Of Market Due To Enhanced Efficiency, Ecosystem Protection, And Traceability: A Significant Driver Propelling The Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Mar
Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture
What Is the Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market Size and Projected Growth Rate?
The market size for AI in sustainable fisheries and aquaculture has seen substantial growth recently. It's projected to expand from $0.69 billion in 2024 to $0.80 billion in 2025 with a combined annual growth rate (CAGR) of 15.8%. The previously noted increase can be credited to factors such as a surge in demand for sustainable seafood, a heightened acceptance of AI technologies in aquaculture, an increased consumer inclination towards eco-friendly seafood, along with supportive government aid and policies.
There is an anticipated quick expansion of the AI in sustainable fisheries and aquaculture market in the upcoming years with it being estimated to ascend to $1.42 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 15.5%. Factors propelling growth during the forecast period include heightened environmental awareness and sustainability necessities, the escalation in real-time fish health surveillance, the rising need for optimization of feed and resources, growing use of IoT for water quality analysis and increased urbanization driving demand for sustainable seafood. Key market trends to watch during the forecast period encompass improvements in AI-fuelled feeding systems, merging of AI and IoT for water assessment, technology-centric resource optimization, progress in machine learning for biomass assessment, and automation in farming achieved through innovations in robotics.
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What Are the Major Segments in the Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market?
The artificial intelligence (AI) in sustainable fisheries and aquaculture market covered in this report is segmented -
1) By Technology: Machine Learning, Computer Vision, IoT And Remote Sensing Integration, Robotics And Autonomous Systems
2) By Application: Aquaculture Monitoring And Control, Fish Health Monitoring And Disease Detection, Feed Management And Optimization, Water Quality Monitoring, Stock Management And Yield Prediction
3) By End-User: Commercial Fish Farms, Small-And Medium-Sized Aquaculture Farms, Other End-users
Subsegments:
1) By Machine Learning: Predictive Analytics, Resource Optimization Models, Fish Population Modeling, Yield Forecasting
2) By Computer Vision: Fish Species Identification, Behavior Analysis, Habitat Monitoring, Underwater Object Detection
3) By IoT And Remote Sensing Integration: Sensor Networks for Water Quality Monitoring, Satellite-Based Fishery Surveillance, IoT-Enabled Aquaculture Systems, Remote Environmental Monitoring
4) By Robotics And Autonomous Systems: Automated Feeding Systems, Autonomous Underwater Vehicles (AUVs), Net Cleaning Robots, Robotic Fish Harvesting Systems
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What Are The Driving Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market Evolution?
The surge in demand for seafood production that preserves the longevity of marine and freshwater ecosystems is set to stimulate the expansion of the market for AI in sustainable fisheries and aquaculture. This refers to a type of seafood farming or harvesting that not only ensures the sustainability of these ecosystems, but also supports species populations and the livelihoods of communities that rely on them. The push for sustainable seafood production has been intensified by growing cognizance about overfishing and destruction of marine habitats. More consumers want seafood sourced via planet-friendly methods to safeguard marine ecosystems. AI boosts sustainable seafood production through the optimization of fishery management, the enhancement of aquaculture efficiency, ecosystem protection, and guaranteeing traceability from sea to plate. For example, in March 2024, data provided by the Department of Agriculture, Fisheries, and Forestry - gathered by the Australian Bureau of Agricultural and Resource Economics, an Australian governmental agency - predicts that aquaculture's proportion of seafood production value should increase from 60% in 2023-24 to 64% by 2028-29. This reflects a growing preference for high-grade seafood, with a calculated total real value of $2.21 billion by 2028-29. Therefore, this upturn in demand for eco-friendly seafood production is the driving force behind the market growth of AI in sustainable fisheries and aquaculture.
Which Firms Dominate The Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market Segments?
Major companies operating in the artificial intelligence (AI) in sustainable fisheries and aquaculture market are International Business Machines Corporation, SoftBank & Aizip, Kongsberg Gruppen, Skretting, eFishery, AKVA Group, AZTI, Osmo Systems, Aquabyte, Qysea, ReelData, XpertSea Solutions Inc., Manolin, Innovasea, Aquaconnect, Seashell AI (The Fish Site), Fishtek Marine, Umitron, Tidal X, Shieldbase AI
What Trends Are Expected to Dominate the Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market in the Next 5 Years?
Prominent businesses in the AI for sustainable fisheries and aquaculture marketplace are zeroing in on enhancements such as the integration of AI within cameras, aiming towards real-time monitoring and predictive analytics in the fishing industry. AI cameras utilizing artificial intelligence are capable of processing and interpreting visual data instantaneously, thus automating tasks like object recognition or environment monitoring. For example, in July 2024, ReelData, a software enterprise based in Canada, unveiled an AI-enabled camera for aquaculture. This device records high-definition video to aid behavioral tracking, feeding regulation, and monitoring the health of fish, thereby facilitating informed decisions and enhancing farm productivity.
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Which Is The Largest Region In The Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market?
Asia-Pacific was the largest region in the AI in sustainable fisheries and aquaculture market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in sustainable fisheries and aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market?
2. What is the CAGR expected in the Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Industry?
4. Which Region Is Leading the Artificial Intelligence (AI) In Sustainable Fisheries And Aquaculture Market?
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