Precision Aquaculture Market size worth $ 933.56 Million, Globally, by 2028 at 13.4% CAGR: Verified Market Research®

The prime demand for protein-rich aqua food, application of IoT, and AI for monitoring of aquaculture farms, followed by the infrastructure development in aquaculture, is driving the Precision Aquaculture Market.

JERSEY CITY, N.J., Feb. 21, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Precision Aquaculture Market" By System Type (Feeding Systems, Monitoring & Control, Underwater ROVs), By Offering (Hardware, Software, Services), By Farm Type (Cage-based, RAS), and By Geography. According to Verified Market Research, the Global Precision Aquaculture Market size was valued at USD 335.22 Million in 2020 and is projected to reach USD 933.56 Million by 2028, growing at a CAGR of 13.4% from 2021 to 2028.

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Browse in-depth TOC on "Precision Aquaculture Market"

202 - Pages
126 – Tables
37 – Figures

Global Precision Aquaculture Market Overview

The prime demand for protein-rich aqua food, followed by the rising income of the middle-class population, is driving the Global Precision Aquaculture Market. More adoption of the latest modern technology, artificial intelligence, feeding robots, and underwater remotely operated vehicles will boost the demand for the Global Precision Aquaculture Market. The enlarged number of aquaculture farms and an increase in the production of aquaculture is bringing countless growth opportunities to the market. Moreover, the escalation focuses on the deployment of large-scale offshore aquaculture projects, and rising various government initiatives will positively impact the potential growth of the market.

The more popularity of aquaculture is a contribution to substantial opportunities for the implementation of land-based recirculating aquaculture systems. The remarkable element hindering the growth of the Global Precision Aquaculture Market include the high monitoring cost of aquaculture farms limited availability of skilled operators, system complexity, the requirement of large capital expenditure, and lack of technological awareness among farmers across the globe. The loud operational cost of vessels and unpredicted environmental degradation in seawater further hamper the Precision Aquaculture Market during the forecast period. An increasing number of aquaculture farms all over the globe is estimated to create significant opportunities for the Precision Aquaculture Market.

Key Developments

• In November 2020, Innovasea Systems introduced new V3 acoustic telemetry transmitters, which are the smallest in its industry-leading lineup of fish tracking tags.
• In November 2020, the AKVA group done an agreement with Nordic Aqua Ningbo to deliver a complete RAS facility outside Shanghai. The project has a planned production volume of 8,000 tons in 2026 In 2020, Daikin Launched, "Carrime", a Portable Air Conditioner, with help of the innovation platform, Daikin Launch X.

Key Players

The major players in the market are AKVA group, InnovaSea System, Steinsvik, Deep Trekker, Aquabyte, Eruvaka Technologies, Akuakare, CPI Equipment, Bluegrove, Jala Tech among others.

Verified Market Research has segmented the Global Precision Aquaculture Market On the basis of System Type, Offering, Farm Type, and Geography.

• Precision Aquaculture Market, By System Type
• Feeding Systems
• Monitoring & Control
• Underwater ROVs

• Precision Aquaculture Market, By Offering
• Hardware
• Software
• Services

• Precision Aquaculture Market, By Farm Type
• Cage-based
• RAS

• Precision Aquaculture Market By Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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