Press release
AI in Sustainable Fisheries and Aquaculture Market Know the Scope and Trends
According to the latest research by InsightAce Analytic, the Global AI in Sustainable Fisheries and Aquaculture Market is valued at US$ 573.3 Bn in 2023, and it is expected to reach US$ 1,462.8 Bn by 2031, with a CAGR of 12.7% during the forecast period of 2024-2031.
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Artificial intelligence (AI) in sustainable fisheries and aquaculture involves the integration of AI technologies and methodologies into operational processes to enhance automation, enable real-time decision-making, and improve overall efficiency. With increasing concerns over the rapid depletion of seafood resources, the adoption of AI in sustainable fisheries and aquaculture is projected to grow in the coming years. The widespread application of deep learning, computer vision, machine learning, and natural language processing across various sectors further supports the expansion of the global AI in sustainable fisheries and aquaculture market.
Additionally, shifting consumer preferences toward sustainably sourced seafood, along with rising urbanization and higher disposable incomes, are expected to generate significant revenue opportunities for companies operating in this market.
List of Prominent Players in the AI in Sustainable Fisheries and Aquaculture Market:
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• XpertSea Solutions Inc.
• Aquabyte
• Antai Technology
• AquacultureTalent
• ImpactVision
• Aquaculture Analytics
• Eruvaka Technologies
• AquaByte AI
• Deep Trekker Inc.
• OptoScale AI
• VAKI Aquaculture Systems Ltd.
• Fishtek Marine
• Scanmar AS
• Bluegrove Ltd.
• AKVA Group
• BioSort AS
• Kongsberg Gruppen
• InnovaSea Systems, Inc.
• Aquabyte AI
• Osmo Systems
• Umitron
• Manolin
• Others
Market Dynamics:
Drivers:
The increasing demand for fish production to meet global food supply needs and improve cost efficiency is a primary factor driving growth in the AI in sustainable fisheries and aquaculture market. The adoption of AI technologies to enhance seafood production, ensure sustainable practices, and provide nutritious food sources is further contributing to market expansion. Additionally, rising consumer preference for sustainable seafood and increasing urbanization with higher disposable incomes are expected to create significant revenue opportunities for industry participants.
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Challenges:
Key challenges limiting market growth include limited awareness and regulatory hurdles in developing countries. High implementation costs and the demand for high-quality seafood products also pose constraints on the widespread adoption of AI in sustainable fisheries and aquaculture. Moreover, the COVID-19 pandemic has disrupted global supply chains, causing production halts and inventory management challenges for distributors, suppliers, and manufacturers, resulting in substantial economic losses across the sector.
Regional Trends:
North America is anticipated to hold a leading share of the AI in sustainable fisheries and aquaculture market and is projected to register strong growth, driven by increasing AI adoption, rapid urbanization, industrialization, and significant R&D activities by key market players. Europe also accounts for a substantial portion of the market, supported by a mature economy and the adoption of advanced technologies such as computer vision, machine learning, and robotics. Strategic initiatives by leading companies and growing collaborations among industry participants are further facilitating market penetration and growth across the region.
Recent Developments:
• In 2023, XpertSea revealed its XpertSense system, a sensor-based AI platform that supports shrimp farmers to observe and manage their farms.
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Segmentation of AI in Sustainable Fisheries and Aquaculture Market
AI in Sustainable Fisheries and Aquaculture Market- By Species
• Finfish
• Shellfish
• Crustaceans
AI in Sustainable Fisheries and Aquaculture Market- By Application
• Aquaculture Monitoring and Control
• Fish Health Monitoring and Disease Detection
• Feed Management and Optimization
• Water Quality Monitoring
• Stock Management and Yield Prediction
AI in Sustainable Fisheries and Aquaculture Market- By Technology
• Machine Learning Algorithms
• Computer Vision Systems
• Natural Language Processing
• Robotics and Automation
• Data Analytics and Predictive Modeling
AI in Sustainable Fisheries and Aquaculture Market- By End-User
• Fish Farms and Hatcheries
• Seafood Processing Companies
• Research Institutions and Universities
• Government Agencies and Regulatory Bodies
• Technology Providers and AI Solution Developers)
AI in Sustainable Fisheries and Aquaculture Market- By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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