Press release
Comprehensive Precision Aquaculture Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Precision Aquaculture
Precision Aquaculture Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent years, the market size of precision aquaculture has seen a swift expansion. The predictions suggest a growth from $0.53 billion in 2024 up to $0.6 billion in 2025, leading to a compound annual growth rate (CAGR) of 13.5%. Factors contributing to this considerable growth in the past include increased seafood consumption, heightened environmental awareness, supportive government initiatives and regulations, elevated operational costs, and advancement in fish health management techniques.
Precision Aquaculture Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the precision aquaculture market is poised for substantial growth, with anticipated valuation reaching $0.99 billion in 2029, representing a compound annual growth rate (CAGR) of 13.2%. This development in the projected period can be ascribed to factors such as increased emphasis on food quality and safety, escalated investments in aquacultural innovations, the broadening scope of aquaculture operations, population increase, and a surge in the income of the middle class. Major upcoming trends for this period include the inclusion of artificial intelligence (AI) and machine learning, advancements in the field of remote sensing technologies, implementation of blockchain for traceability purposes, the creation of superior data analytics platforms, and improved farm management software.
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What Are the Drivers Transforming the Precision Aquaculture Market?
The surging worldwide demand for seafood is predicted to fuel the expansion of the precision aquaculture market. Seafood, described as any consumable marine life gathered from various water bodies such as lakes, rivers, or oceans, is highly sought-after due to its numerous health advantages. It's rich in proteins and omega-3 fatty acids, appealing to consumers interested in sustainable and nutritious food choices. Precision aquaculture augments seafood production via refining farming methods, facilitating sustainable management of resources, and boosting the overall well-being and quality of aquatic creatures. For example, the Department of Agriculture, Fisheries, and Forestry, an Australian government department, reported in December 2023 that Australians had consumed roughly 350,000 tonnes of seafood in 2021-22, equating to an average of 13.8 kilograms per person. The valuation of fishery and aquaculture imports increased by 2% to $2.19 billion, mainly attributable to a rise in prawn imports. Hence, the ever-increasing global demand for seafood is propelling the growth of the precision aquaculture market.
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What Long-Term Trends Will Define the Future of the Precision Aquaculture Market?
Prominent corporations in the precision aquaculture sector are concentrating on crafting novel products like artificial intelligence (AI)-integrated aquaculture cameras to establish a market advantage. These AI-based cameras are sophisticated imaging systems that utilise AI algorithms, particularly engineered for aquaculture environment supervision and regulation. For instance, ReelData AI, a Canada-based software firm, in July 2024, introduced ReelVision - an AI-powered camera for applications like behavioral analysis, feeding rates, and aquatic health and wellbeing in aquaculture. Explicitly designed for fish farms, this advanced AI camera allows farmers to make smarter decisions with regards to feeding, stocking density, and health oversight through a data-driven approach. This method aids in boosting production, cutting down on waste and lessening environmental harm.
Which Segments in the Precision Aquaculture Market Offer the Most Profit Potential?
The precision aquaculturemarket covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Farm Type: Open Aquaculture Farm, Recirculatory Aquaculture System (RAS) Farm
3) By Application: Feed Optimization, Monitoring And Surveillance, Yield Analysis And Measurement, Other Applications
Subsegments:
1) By Hardware: Sensors, Cameras, Feeding Systems, Water Quality Monitoring Devices, Control Systems, Autonomous Vehicles
2) By Software: Data Management Software, Monitoring And Control Software, Analytics Software, Simulation And Modeling Software, Reporting And Compliance Software
3) By Service: Consulting Services, Installation And Deployment Services, Maintenance And Support Services, Training Services, Data Analysis And Interpretation Services
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Which Firms Dominate the Precision Aquaculture Market by Market Share and Revenue in 2025?
Major companies operating in the precision aquaculture market are Signify N.V., Pentair PLC, Nofima AS, Cermaq Group AS, Skretting, Grieg Seafood ASA, AKVA Group ASA, ScaleAQ, Benchmark Holdings PLC, In-Situ Inc., InnovaSea Systems Inc., Biomar Group, INVE Aquaculture, Eruvaka Technologies, BioFishency Ltd., Ace Aquatec, OxyGuard International A/S, Planet Lighting Ltd., AquaMaof Aquaculture Technologies Ltd., SNRAS Systems Private Ltd.
Which Regions Offer the Highest Growth Potential in the Precision Aquaculture Market?
Asia-Pacific was the largest region in the precision aquaculture market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the precision aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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