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Precision Aquaculture Market Trends

  • Report ID: GMI10493
  • Published Date: Jul 2024
  • Report Format: PDF

Precision Aquaculture Market Trends

There is a global shift towards sustainable practices in aquaculture, driven by consumer demand for eco-friendly products and regulatory mandates to reduce environmental harm. This change is shifting aquaculture farms to adopt technologies that reduce resource usage, improve feed efficiency, and decrease waste discharge. With sustainability becoming a key market differentiator, industries are adopting eco-friendly strategies to improve their brand image and meet consumer expectations.
 

For instance, in November 2023, China launched the world's first floating fish farm powered entirely by wind and solar energy. This move reflects the global push for sustainable aquaculture. By using wind and solar power, the project aims to cut carbon emissions and reduce the environmental impact of traditional aquaculture. This development shows a commitment to eco-friendly operations, aligning with the growing global demand for sustainable aquaculture solutions. Such initiatives drive industry growth and pave the way for future advancements in the sector.
 

Moreover, aquaculture is witnessing significant growth towards the convergence of IoT and AI technologies. Real-time monitoring of water quality, feeding patterns, and environmental conditions is being made possible through IoT sensors. This optimizes operations and reduces the margin for human error. Meanwhile, AI algorithms leverage extensive data sets to forecast ideal feeding times, swiftly identify disease outbreaks, and automate various tasks. By bolstering efficiency, boosting productivity, and curbing operational expenses, this integration is gaining traction across the aquaculture sector.
 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for precision aquaculture was valued at USD 1.4 billion in 2023 and is estimated to register a CAGR of 15% between 2024 and 2032, favored by the technological advancements in aquaculture monitoring and control systems.

In 2023, the hardware segment accounted for a market share of over 44% and will continue to gain traction through 2032, as the integration of advanced hardware solutions facilitates proactive management decisions, improves resource utilization, and supports the overall health & growth of aquatic populations.

Asia Pacific led the global market, with a major share of around 34% in 2023. The growth is driven by modernization of aquaculture practices through technological advancements, along with growing seafood consumption.

AKVA Group, CageEye, Eruvaka Technologies, Innovasea, Aquabyte, XpertSea, and Aquaculture Systems Technologies, LLC (AST).

Precision Aquaculture Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 300
  • Countries covered: 25
  • Pages: 250
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