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Rising Global Demand For Seafood Fuels Growth In The Precision Aquaculture Market: Transformative Forces Shaping the Precision Aquaculture Market Landscape in 2025
Precision Aquaculture Market
What Will the Precision Aquaculture Industry Market Size Be by 2025?
The market size of precision aquaculture has seen a swift expansion in the past few years. It is estimated to rise from a value of $0.53 billion in 2024 to $0.6 billion in 2025, representing a compound annual growth rate (CAGR) of 12.8%. The historical growth can be credited to an increased demand for seafood, growing consciousness about environmental impacts, governmental support and laws, escalated operational expenses, and advancements in fish health management.
What's the Long-Term Growth Forecast for the Precision Aquaculture Market Size Through 2029?
Expectations are high for the precision aquaculture market to undergo speedy expansion in the coming years. Analysts anticipate this market to reach a size of $0.96 billion in 2029, growing at a compound annual growth rate (CAGR) of 12.7%. The predicted surge for the mentioned period can be accredited to several factors - the growing concern for food safety and quality, escalating funding in aquaculture technological advancements, the proliferation of aquaculture operations, population increase, and growing middle-class income. The period is set to witness key trends such as the integration of artificial intelligence (AI) and machine learning, improvements in remote sensing technologies, use of blockchain for traceability, the emergence of sophisticated data analytics platforms, and upgraded farm management software.
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What Are the Key Growth Drivers Fueling the Precision Aquaculture Market Expansion?
The escalation of the precision aquaculture market is projected to be driven by the rising global demand for seafood. Seafood, the edible marine life harvested from various bodies of water like oceans, rivers, and lakes, is in high demand owing to its health benefits. It is notably rich in proteins and omega-3 fatty acids and there is increasing consumer interest in sustainable and nutritious food choices. Precision aquaculture contributes to seafood production by optimizing farming practices, promoting sustainable resource management, and enhancing the health and quality of aquatic species. For example, the Department of Agriculture, Fisheries, and Forestry of Australia reported in December 2023 that Australians consumed roughly 350,000 tons of seafood in 2021-22, which equates to 13.8 kilograms per individual. The value of fishery and aquaculture imports also surged by 2% to $2.19 billion, predominantly due to a rise in prawn imports. Hence, the burgeoning global appetite for seafood is fuelling the expansion of the precision aquaculture market.
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Which Fast-Growing Trends Are Poised to Disrupt the Precision Aquaculture Market?
Leading companies in the precision aquaculture market are concentrating their efforts on creating innovative products like AI-powered aquaculture cameras to secure a competitive advantage. These cameras are high-tech imaging devices, combined with AI algorithms, that are tailored to observe and handle aquaculture conditions. For example, in July 2024, ReelData AI, a software firm based in Canada, introduced ReelVision, a camera designed for AI use in aquaculture, including analyzing behavior, computing feeding rates, and monitoring fish health and welfare. ReelVision is a high-tech AI camera system specially created for fish farming. Utilizing this data-driven approach allows farmers to make more educated choices about feeding, crowding, and health management, which results in optimized production, waste reduction, and minimal environmental effects.
How Is the Precision Aquaculture Market Segmented?
The precision aquaculture market 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 Companies Are Leading the Charge in Precision Aquaculture Market Innovation?
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 Are Leading the Global Precision Aquaculture Market in Revenue?
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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