Precision Aquaculture Market

Precision Aquaculture Market with Covid-19 Impact Analysis by System Type (Feeding Systems, Monitoring & Control, Underwater ROVs), Offering (Hardware, Software, Services), Farm Type (Cage-based, RAS), Application, and Geography - Global Forecast to 2026

Report Code: SE 7476 Mar, 2021, by marketsandmarkets.com

[253 Pages Report] The global precision aquaculture market is estimated to grow from USD 407 million in 2021 to USD 794 million by 2026; growing at a CAGR of 14.3%. Precision aquaculture technology has the potential to transform the aquaculture industry, making traditional aquaculture activities more efficient and economical. The growth of the precision aquaculture market is driven by factors such as growing investments in technological research and product innovation, the surging adoption of advanced technologies such as IoT, ROVs, and AI for the real-time monitoring of aquaculture farms, the rising demand for protein-rich aqua food, and increasing support by worldwide governments for infrastructure development in aquaculture.

Precision Aquaculture Market

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COVID-19 Impact on the Global Precision aquaculture market

The precision aquaculture market includes key companies such as AKVA group (Norway), InnovaSea Systems (US), Steinsvik (ScaleAQ) (Norway), Deep Trekker (Canada), Aquabyte (US), Eruvaka Technologies (India), Akuakare (Turkey), CPI Equipment (Canada), Lifegard Aquatics (US), Bluegrove (Norway), Imenco AS (Norway), In-Situ (US), Signify (Netherlands), Jala Tech (Indonesia), Planet Lighting (Australia), Maritech Systems (Norway), OxyGaurd (Denmark), Aquaconnect (India), AquaMaof (Israel), MonitorFish (Germany), Observe Technologies (UK), Omso Systems (US), Optimar AS (Norway), and Sensorex (Norway). These companies have their manufacturing facilities and corporate offices spread across various countries across Asia Pacific, Europe, North America, and RoW. The precision aquaculture products manufactured by these companies are purchased by several stakeholders for various applications. COVID-19 not only impacted the operations of the various precision aquaculture manufacturers companies, but also affected the businesses of their suppliers, distributers and ebd user customers. The fail in export shipments and slow domestic demand for precision aquaculture in comparison to pre COVID-19 levels is also expected to negatively impact and slightly stagnate the demand for precision aquaculture in short term. The key companies operating in this market, have aslso witnessed the impact of the pandemic in their order intakes for precision aquaculture and delay in projects during the first half of 2020.

Precision aquaculture market dynamics

Driver: Surging adoption of advanced technologies such as IoT, ROVs, and AI for real-time monitoring of aquaculture farms

The global aquaculture industry has witnessed tremendous advances in aquaculture tools, techniques, and technologies in the recent years. The growing inclination of the worldwide population toward consuming a protein-rich diet is one of the major factors responsible for the increasing adoption of cutting-edge technologies, such as the Internet of Things (IoT), machine learning, remotely-operated vehicles (ROVs), artificial intelligence (AI), automatic feeders, and acoustic telemetry tracking systems, by aquaculture farm owners. The use of these technologies in aquaculture farming helps increase aquaculture production; enhance production efficiency; minimize wastage of resources; improve accuracy, precision, and repeatability in farming operations while providing high profitability to farm owners.

Companies such as AKVA group, Deep Trekker, and Sensaway have deployed IoT- and AI-based fish farm monitoring systems in thousands of aquaculture farms across the world. The increasing number of technology-oriented startups are entering the precision aquaculture market due to attractive opportunities available in this market.

Restraint: Need for skilled operators for effective management of complex systems

Aquaculture species require tight management regularly to grow in a healthy and sound environment. Aquaculture equipment such as RAS systems and remotely-operated vehicles (ROVs) are complex and require skilled operators. The level of complexity increases with the size of an aquaculture project. Since RAS (recirculating aquaculture system) technology is relatively new, these systems will inevitably encounter unforeseen design- and engineering-related challenges and require ongoing adjustments to create a perfect environment for higher and more stable aquaculture production. As many of these systems have been designed for salmonids, they create challenges for other cultured species in aquaculture farming. Hence, it becomes highly essential to make specific alterations in water temperature and oxygen levels to meet the life cycle and physiological requirements of other species. Any mistake or mismanagement would have an adverse impact on aquaculture production. Therefore, for the effective management of farms, a highly skilled workforce is required. As the aquaculture industry is growing, the need for highly skilled personnel becomes evident

Opportunity: Increasing number of cage-based farms in developing regions such as India, China, and South-East Asian countries

The number of aquaculture farms and fish farmers has doubled since 1970 across the world. The aquaculture industry is expected to grow at a healthy growth rate of ~5% by 2020. Currently, more than 50% of global fish production is carried out through aquaculture harvesting and a share of wild capture production is declining substantially. Since 1990, aquaculture has been the fastest-growing segment of food production by volume, with a compound annual growth rate of 8.3%. The rising number of aquaculture farms across the world provides an exciting opportunity for equipment and technology providers.

Factors such as rising operational costs of vessels and environmental degradation in seawater are compelling aquaculture farmers to shift toward cage-based aquaculture farming. Developing countries such as India, Chile, and southeast Asian countries are expected to offer substantial opportunities for cage-based aquaculture farming in the near future. India had about 3,200 cages until 2018, which is expected to increase by more than 100 thousand by 2030.

Norway, China, and Chile are currently the major contributors to cage-based aquaculture farming as the aggregated market share of three countries stands at ~66% (As per the 2018 FAO report).

Challenge: Environmental concerns due to extensive aquaculture farming

Although aquaculture farming is intended to increase food security, it has led to environmental degradation. However, the environmental impact of aquaculture depends upon the species being farmed, the intensity of production, and the location of the farm. The high-density presence of fish in a particular area produces large waste, which has the potential to build up in the surrounding area. This waste can deplete the oxygen level in the water, creating algal blooms and dead zones that are harmful to the environment. The use of antibiotics by aquaculture farmers creates concerns regarding the effect of drugs on the ecosystem around the cages, including wild fish. It is also believed that the escape of non-native fish would cause wild fish to compete for food, potentially displacing the native fish. Thus, extensive aquaculture farming has a great impact on the surrounding ecosystem of aquaculture farms.

RAS-based aquaculture segment is expected to register the highest CAGR during the forecast period

The precision aquaculture market for RAS-based aquaculture farms is projected to register the highest CAGR during the forecast period. The market for RAS-based aquaculture farms is expected to grow at a higher rate during the forecast period. Currently, RAS-based aquaculture farms constitute around 5% to 8% of the total farms in the world, which is expected to reach ~30% by 2030 (As per the Food and Agriculture Organization of United Nations). Growing awareness about the benefits of RAS-based aquaculture farming such as the requirement for less water as compared to conventional systems and environment-friendly systems is fueling the growth of the market during the forecast period.

Underwater remotely-operated vehicles is expected to witness higher CAGR growth during the forecast period

The precision aquaculture market for underwater remotely-operated vehicles is projected to register the highest CAGR during the forecast period, by system type. The adoption trend of underwater ROVs in Western Europe and North America has gained significant traction in recent years. Currently, countries such as the US, Canada, Norway, and Chile account for more than 60% of the installed base of underwater ROVs.

Services segment for precision aquaculture market is expected to witness higher CAGR growth during the forecast period

The market for services is estimated to grow at the highest CAGR during the forecast period, by offering. The increasing installation of aquaculture equipment in fish farms across the world and the rising popularity of recirculation aquaculture system (RAS)-based aquaculture farming in developing regions are the major factors contributing to the growth of the market for services.

South America is projected to register highest CAGR growth during the forecast period

South America is expected to witness the highest CAGR in the precision aquaculture market during the forecast period due to the increasing adoption of automated solutions including underwater ROVs and smart camera systems in aquaculture farms and the growing focus on the deployment of IoT-based monitoring devices in aquaculture farms owing to various advantages such as increased productivity and the early detection of diseases among aquatic species offered by these monitoring devices.

Precision Aquaculture Market  by Region

Key Market Players

The precision aquaculture market is dominated by a few globally established players such as AKVA group (Norway), InnovaSea Systems (US), Steinsvik (ScaleAQ) (Norway), Deep Trekker (Canada), Aquabyte (US), and Eruvaka Technologies (India).

These companies have adopted both organic and inorganic growth strategies such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.

Scope of the report

Report Metric

Details

Market Size Available for Years

2017–2026

Base Year

2020

Forecast Period

2021–2026

Forecast Unit

Value (USD Million/Billion)

Segments Covered

By Offering, By Application, By System Type, By Farm Type, and Region

Geographic Regions Covered

APAC, North America, South America, Europe, and RoW (includes Middle East and Africa)

Companies Covered

The major players include are AKVA group (Norway), InnovaSea Systems (US), Steinsvik (ScaleAQ) (Norway), Deep Trekker (Canada), Aquabyte (US), Eruvaka Technologies (India), Akuakare (Turkey), CPI Equipment (Canada), Lifegard Aquatics (US), Bluegrove (Norway), Imenco AS (Norway), In-Situ (US), Signify (Netherlands), Jala Tech (Indonesia), Planet Lighting (Australia), Maritech Systems (Norway), OxyGaurd (Denmark), Aquaconnect (India), AquaMaof (Israel), MonitorFish (Germany), Observe Technologies (UK), Omso Systems (US), Optimar AS (Norway), and Sensorex (Norway). (Total 25 companies)

This report categorizes the precision aquaculture market based on  offering, application, farm size, farm production planning, and region available at the regional and global level

By Offering

  • Hardware
  • Software
  • Services

By Application

  • Feed Optimization
  • Monitoring and Surveillance
  • Yield Analysis and Measurement
  • Others

By System Type

  • Smart Feeding Systems
  • Monitoring and Control Systems
  • Underwater Remotely-Operated Vehicle Systems
  • Others

By Farm Type

  • Open Aquaculture Farms
  • RAS Farms

By Region

  • APAC
  • North America
  • South America
  • Europe
  • RoW

Recent 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. It gives researchers and scientists the ability to study both smaller species of fish and larger species that are at earlier stages of their lifecycle
  • In November 2020, AKVA group entered into 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 August 2020, Bluegrove with its subsidiary CageEye AS has acquired fellow aquatech company SEALAB to combine their sensor technologies and create an open platform for integration with other suppliers. This acquisition further bolsters Bluegrove’s ability to shape the Internet of Species (IoS), which has the potential to spark an ecological revolution, not only in aquaculture but in agriculture and forestry too.
  • In January 2020, AKVA group acquired Newfoundland Aqua Service Ltd (NAS), a leading supplier of fish farming services in Newfoundland and Labrador. NAS manufactures fish cages, docks, boats and barges, and nets and offers a full range of services including on-land net washing and disinfection, net manufacturing, testing, mending/repair, and antifoulant treatment. Through this acquisition, the company aims to strengthen its geographic presence in this region.
  • In August 2019, AKVA group completed its prototype of a fully electric Polarcirkel boat, which is equipped with a battery pack of 100 kWh with the capacity of 1-hour operation and can be charged in 30 minutes. The product is well suited for the aquaculture industry. The company would commercialize the Polarcirkel boat in 2020.
  • In April 2019, Deep Trekker launched its latest line of underwater robots REVOLUTION powered by BRIDGE technology. Deep Trekker REVOLUTION is designed to detect and locate objects hidden beneath the water, assist divers and safely conduct underwater inspections in harsh environments and conditions.
  • In March 2019, Steinsvik was chosen as a feeding and integration provider for FishGLOBE, a floating closed cage system developed by Norwegian entrepreneur Arne Berge for a closed-cage aquaculture system. FishGLOBE will be delivering the first cage to a customer in Norway, and it will be equipped with a feeding system, data acquisition, and remote operations capabilities from Steinsvik.
  • In May 2018, Eruvaka Technologies partnered with Nutreco (Netherlands) to expand its business operations outside India. Nutreco has its presence in 32 countries and owns two global brands including aqua feed brand Skretting and animal nutrition brand Trouw Nutrition in the precision aquaculture market.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 32)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS AND EXCLUSIONS: OFFERING SEGMENT
           1.2.2 INCLUSIONS AND EXCLUSIONS: SYSTEM TYPE SEGMENT
           1.2.3 INCLUSIONS AND EXCLUSIONS: OTHER SEGMENTS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 GEOGRAPHICAL SCOPE
    1.4 YEARS CONSIDERED
    1.5 CURRENCY
    1.6 PACKAGE SIZE
    1.7 LIMITATIONS
    1.8 SUMMARY OF CHANGES
    1.9 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA
           FIGURE 1 PRECISION AQUACULTURE MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Major secondary sources
                    2.1.1.2 Secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Primary interviews with experts
                    2.1.2.2 Breakdown of primaries
                    2.1.2.3 Key data from primary sources
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
                    2.1.3.2 List of a few major primary participants
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for capturing market size by bottom-up analysis
                               FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
                               FIGURE 3 MARKET SIZE ESTIMATION: DEMAND-SIDE APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for capturing market size by top-down analysis
                               FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                               FIGURE 5 MARKET SIZE ESTIMATION: SUPPLY-SIDE APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 6 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
           2.4.1 KEY MARKET ASSUMPTIONS
           2.4.2 GROWTH FORECAST ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 52)
    3.1 POST-COVID-19: REALISTIC SCENARIO
    3.2 POST-COVID-19: OPTIMISTIC SCENARIO
    3.3 POST-COVID-19: PESSIMISTIC SCENARIO
           FIGURE 7 PRE- AND POST-COVID-19 SCENARIO ANALYSES FOR PRECISION AQUACULTURE MARKET, 2017–2026 (USD MILLION)
           FIGURE 8 HARDWARE SEGMENT TO HOLD LARGEST SHARE OF PRECISION AQUACULTURE MARKET FROM 2021 TO 2026
           FIGURE 9 MARKET FOR UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
           FIGURE 10 FARM MONITORING AND SURVEILLANCE APPLICATION TO ACCOUNT FOR LARGEST SIZE OF PRECISION AQUACULTURE MARKET IN 2026
           FIGURE 11 OPEN AQUACULTURE FARMS TO ACCOUNT FOR LARGER SIZE OF PRECISION AQUACULTURE MARKET IN 2021
           FIGURE 12 SOUTH AMERICA TO WITNESS HIGHEST CAGR IN PRECISION AQUACULTURE MARKET DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 58)
    4.1 ATTRACTIVE OPPORTUNITIES IN PRECISION AQUACULTURE MARKET
           FIGURE 13 SURGING ADOPTION OF ADVANCED TECHNOLOGIES SUCH AS IOT, ROVS, AND AI IN AQUACULTURE FARMS
    4.2 PRECISION AQUACULTURE MARKET IN APAC, BY COUNTRY AND SYSTEM TYPE
           FIGURE 14 CHINA AND MONITORING & CONTROL SYSTEMS TO BE LARGEST SHAREHOLDERS OF PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY COUNTRY AND SYSTEM TYPE, RESPECTIVELY, IN 2020
    4.3 PRECISION AQUACULTURE MARKET, BY APPLICATION
           FIGURE 15 FARM MONITORING & SURVEILLANCE APPLICATION TO HOLD LARGEST SHARE OF PRECISION AQUACULTURE MARKET IN 2026
    4.4 PRECISION AQUACULTURE MARKET, BY OFFERING
           FIGURE 16 HARDWARE SEGMENT TO DOMINATE PRECISION AQUACULTURE MARKET IN TERMS OF SIZE DURING FORECAST PERIOD
    4.5 PRECISION AQUACULTURE MARKET, BY FARM TYPE
           FIGURE 17 OPEN AQUACULTURE FARMS TO ACCOUNT FOR LARGER MARKET SHARE BETWEEN 2021 AND 2026
    4.6 GEOGRAPHIC ANALYSIS OF PRECISION AQUACULTURE MARKET
           FIGURE 18 AMERICAS TO GAIN SIGNIFICANT MARKET SHARE OF GLOBAL PRECISION AQUACULTURE MARKET BY 2026

5 MARKET OVERVIEW (Page No. - 62)
    5.1 MARKET DYNAMICS
           FIGURE 19 PRECISION AQUACULTURE FARMING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.1.1 DRIVERS
                    FIGURE 20 PRECISION AQUACULTURE FARMING MARKET: DRIVERS AND THEIR IMPACT
                    5.1.1.1 Surging adoption of advanced technologies such as IoT, ROVs, and AI for real-time monitoring of aquaculture farms
                    5.1.1.2 Growing investments in technological research and product innovations
                    5.1.1.3 Rising income levels and demand for protein-rich aqua food
                               FIGURE 21 GLOBAL FISHERY PRODUCTION, 2016–2026 (MILLION TONNES)
                    5.1.1.4 Increasing government support worldwide for freshwater aquaculture production
                               FIGURE 22 AQUACULTURE PRODUCTION IN MAJOR 10 COUNTRIES (MILLION METRIC TONS)
           5.1.2 RESTRAINTS
                    FIGURE 23 PRECISION AQUACULTURE FARMING MARKET: RESTRAINTS AND THEIR IMPACT
                    5.1.2.1 High upfront costs and capital expenditure
                    5.1.2.2 Need for skilled operators for effective management of complex systems
                    5.1.2.3 Lack of technological awareness among aquaculture farmers
           5.1.3 OPPORTUNITIES
                    FIGURE 24 PRECISION AQUACULTURE FARMING MARKET: OPPORTUNITIES AND THEIR IMPACT
                    5.1.3.1 Surging adoption of aquaculture monitoring and feed optimization devices in developing countries
                    5.1.3.2 Increasing number of cage-based farms in developing regions such as India, China, and South-East Asian countries
                               FIGURE 25 SHARE OF MAJOR CAGE-BASED AQUACULTURE-PRODUCING COUNTRIES, 2018
                               FIGURE 26 AQUACULTURE PRODUCTION EXPECTED TO SURPASS WILD–CAUGHT FISH PRODUCTION BY 2024
                    5.1.3.3 Growing popularity of land-based recirculating aquaculture systems
                               TABLE 1 COST ANALYSIS OF RAS-BASED AQUACULTURE FARMS
                               FIGURE 27 CONTRIBUTION OF MAJOR AQUACULTURE TYPES TO OVERALL PRODUCTION IN 2019
                               FIGURE 28 GLOBAL FISHING FLEET INSTALLED BASE OF DIFFERENT SIZES, 2017–2026 (MILLION UNITS)
           5.1.4 CHALLENGES
                    FIGURE 29 PRECISION AQUACULTURE FARMING MARKET: CHALLENGES AND THEIR IMPACT
                    5.1.4.1 Environmental concerns due to extensive aquaculture farming
                    5.1.4.2 Lack of common information management system platform in aquaculture industry

6 INDUSTRY TRENDS (Page No. - 72)
    6.1 VALUE CHAIN ANALYSIS
           FIGURE 30 VALUE CHAIN ANALYSIS: PRECISION AQUACULTURE MARKET
           6.1.1 MAJOR MARKET PLAYERS IN PRECISION AQUACULTURE MARKET
           TABLE 2 PRECISION AQUACULTURE MARKET: SUPPLY CHAIN
    6.2 INDUSTRY TRENDS
           6.2.1 ADVENT OF AI, AR/VR, AND BLOCKCHAIN IN AQUACULTURE TO ACCELERATE MARKET GROWTH
           6.2.2 USE OF FARM AUTOMATION SOLUTIONS, REMOTELY-OPERATED VEHICLES, AND FEEDING ROBOTS TO REDUCE LABOR COSTS
           6.2.3 ADOPTION OF ROBOTIC CAGES AND UNDERWATER DRONES IN AQUACULTURE FARMS
    6.3 PRICING ANALYSIS: AVERAGE SELLING PRICE (ASP) TRENDS
           FIGURE 31 AVERAGE SELLING PRICES OF PRECISION AQUACULTURE SENSORS (IN USD)
           TABLE 3 PRICING ANALYSIS FOR ROV SYSTEM COMPONENTS
    6.4 LIST OF KEY PATENTS AND INNOVATIONS IN PRECISION AQUACULTURE MARKET, 2015–2020
           FIGURE 32 NUMBER OF PATENTS APPROVED FOR AQUACULTURE TECHNOLOGIES WORLDWIDE, 2015–2020
           FIGURE 33 APPLICANT-WISE ANALYSIS OF PATENTS FILED BY PLAYERS FOR SMART FARMING, 2015–2020
    6.5 TRADE DATA
           TABLE 4 IMPORT DATA FOR VACUUM PUMPS AND FILTRATION SYSTEMS UNDER HS CODE: 8414, 2015–2019 (USD MILLION)
           FIGURE 34 IMPORT VALUES OF VACUUM PUMPS AND FILTRATION SYSTEMS IN MAJOR COUNTRIES, 2015–2019
           TABLE 5 EXPORT DATA OF VACUUM PUMPS AND FILTRATION SYSTEMS UNDER HS CODE: 8414, 2015–2019 (USD MILLION)
           FIGURE 35 EXPORT VALUES OF VACUUM PUMPS AND FILTRATION SYSTEMS IN MAJOR COUNTRIES, 2015–2019
    6.6 CASE STUDIES: PRECISION AQUACULTURE MARKET
           6.6.1 INTRODUCTION
           6.6.2 OPEN BLUE
                    TABLE 6 INNOVASEA HELPS OPEN BLUE BECOME LARGEST OPEN OCEAN FISH FARM IN WORLD
           6.6.3 EARTH OCEAN FARMS
                    TABLE 7 INNOVASEA ENABLES EARTH OCEAN FARMS TO EXPAND PRODUCTION WITH RUGGED EVOLUTION PENS
           6.6.4 ERKO SEAFOOD AS
                    TABLE 8 WITH AKVA GROUP’S EXPERTISE AND QUICK SERVICE, ERKO SEAFOOD AS FOUND REAL DEAL
           6.6.5 VERMONT HATCHERY
                    TABLE 9 VERMONT HATCHERY SAVES MILLIONS IN ENERGY COSTS WITH INNOVASEA-DESIGNED RECIRCULATING AQUACULTURE SYSTEM
           6.6.6 THE KINGFISH COMPANY
                    TABLE 10 WITH PHILIPS LIGHTING, THE KINGFISH ZEELAND FISHERY AIMS TO OBTAIN SUSTAINABLE PRODUCTION OF PREMIUM MARINE SEAFOOD
           6.6.7 GIFAS
                    TABLE 11 PHILIPS LED SOLUTIONS OFFER NEW POSSIBILITIES FOR SALMON INDUSTRY
           6.6.8 LINGALAKS
           TABLE 12 PHILIPS LED LIGHTING HELPS IN PREVENTING SEA LICE IN SALMON PRODUCTION
    6.7 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 36 PRECISION AQUACULTURE MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 13 PRECISION AQUACULTURE MARKET: PORTER’S FIVE FORCES ANALYSIS
           6.7.1 THREAT OF NEW ENTRANTS
           6.7.2 THREAT OF SUBSTITUTES
           6.7.3 BARGAINING POWER OF SUPPLIERS
           6.7.4 BARGAINING POWER OF BUYERS
           6.7.5 INTENSITY OF COMPETITIVE RIVALRY
    6.8 TARIFF AND REGULATORY LANDSCAPE
           6.8.1 TARIFF AND REGULATIONS IN PRECISION AQUACULTURE
                    TABLE 14 TARIFF REGULATIONS: PRECISION AQUACULTURE
    6.9 PRECISION AQUACULTURE MARKET ECOSYSTEM
           FIGURE 37 SMART AGRICULTURE ECOSYSTEM

7 PRECISION AQUACULTURE MARKET, BY OFFERING (Page No. - 94)
    7.1 INTRODUCTION
           TABLE 15 PRECISION AQUACULTURE MARKET, BY OFFERING, 2017–2020 (USD MILLION)
           FIGURE 38 SERVICES SEGMENT TO EXHIBIT HIGHEST CAGR IN PRECISION AQUACULTURE MARKET DURING FORECAST PERIOD
           TABLE 16 PRECISION AQUACULTURE MARKET, BY OFFERING, 2021–2026 (USD MILLION)
    7.2 HARDWARE
           TABLE 17 PRECISION AQUACULTURE MARKET FOR HARDWARE, BY TYPE, 2017–2020 (USD MILLION)
           FIGURE 39 SENSORS TO HOLD LARGEST SIZE OF PRECISION AQUACULTURE MARKET FOR HARDWARE SYSTEMS IN 2026
           TABLE 18 PRECISION AQUACULTURE MARKET FOR HARDWARE, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 19 PRECISION AQUACULTURE SENSOR MARKET, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 20 PRECISION AQUACULTURE SENSOR MARKET, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 21 PRECISION AQUACULTURE SENSOR MARKET, BY TYPE, 2017–2020 (MILLION UNITS)
           TABLE 22 PRECISION AQUACULTURE SENSOR MARKET, BY TYPE, 2021–2026 (MILLION UNITS)
           TABLE 23 PRECISION AQUACULTURE MARKET FOR HARDWARE, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
           TABLE 24 PRECISION AQUACULTURE MARKET FOR HARDWARE, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
           TABLE 25 PRECISION AQUACULTURE MARKET FOR HARDWARE, BY FARM TYPE, 2017–2020 (USD MILLION)
           TABLE 26 PRECISION AQUACULTURE MARKET FOR HARDWARE, BY FARM TYPE, 2021–2026 (USD MILLION)
           TABLE 27 PRECISION AQUACULTURE MARKET FOR HARDWARE, BY REGION, 2017–2020 (USD MILLION)
           FIGURE 40 AMERICAS TO WITNESS HIGHEST CAGR IN PRECISION AQUACULTURE MARKET FOR HARDWARE OFFERING DURING FORECAST PERIOD
           TABLE 28 PRECISION AQUACULTURE MARKET FOR HARDWARE, BY REGION, 2021–2026 (USD MILLION)
           7.2.1 SENSORS
                    7.2.1.1 Temperature and environmental sensors
                               7.2.1.1.1 Increasing demand for temperature and environmental sensors for monitoring fish pens and cages in widely varying sea conditions
                    7.2.1.2 pH and dissolved oxygen sensors
                               7.2.1.2.1 Growing need to monitor dissolved oxygen content to boost deployment of pH and dissolved oxygen sensors
                    7.2.1.3 EC sensors
                               7.2.1.3.1 EC sensors to witness increased adoption in RAS and pond-based aquaculture farms
                    7.2.1.4 Others
           7.2.2 CAMERA SYSTEMS
                    7.2.2.1 Rising adoption of smart HD and 4K camera systems in aquaculture farms
           7.2.3 CONTROL SYSTEMS
                    7.2.3.1 Market for wireless control systems to witness significant growth rate in coming years
           7.2.4 OTHERS
    7.3 SOFTWARE
           TABLE 29 PRECISION AQUACULTURE SOFTWARE MARKET, BY TYPE, 2017–2020 (USD MILLION)
           FIGURE 41 ON-CLOUD SOFTWARE TYPE TO WITNESS HIGHER CAGR IN PRECISION AQUACULTURE MARKET DURING FORECAST PERIOD
           TABLE 30 PRECISION AQUACULTURE SOFTWARE MARKET, BY TYPE, 2021–2026 (USD MILLION)
           TABLE 31 PRECISION AQUACULTURE MARKET FOR SOFTWARE, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
           TABLE 32 PRECISION AQUACULTURE MARKET FOR SOFTWARE, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
           TABLE 33 PRECISION AQUACULTURE MARKET FOR SOFTWARE, BY FARM TYPE, 2017–2020 (USD MILLION)
           TABLE 34 PRECISION AQUACULTURE MARKET FOR SOFTWARE, BY FARM TYPE, 2021–2026 (USD MILLION)
           TABLE 35 PRECISION AQUACULTURE MARKET FOR SOFTWARE, BY REGION, 2017–2020 (USD MILLION)
           TABLE 36 PRECISION AQUACULTURE MARKET FOR SOFTWARE, BY REGION, 2021–2026 (USD MILLION)
           7.3.1 ON CLOUD
                    7.3.1.1 Growing popularity of software-as-a-service model fuels demand for cloud technology to ensure remote access to crucial data
           7.3.2 ON PREMISES
                    7.3.2.1 Ability to reuse existing servers fosters growth of market for on-premise software solutions
    7.4 SERVICES
           7.4.1 SYSTEM INTEGRATION AND DEPLOYMENT
                    7.4.1.1 Integration of hardware equipment and software platform to create new opportunities
           7.4.2 CONSULTING
                    7.4.2.1 Cage-based and RAS-based farming to offer lucrative opportunities for consulting services
           7.4.3 DATA ANALYTICS
                    7.4.3.1 Increasing deployment of IoT devices on aquaculture farms to provide relevant data for data analytics services
           7.4.4 SUPPORT AND MAINTENANCE
                    7.4.4.1 Support and maintenance services help in mitigating frequent hardware system failures
                               TABLE 37 PRECISION AQUACULTURE SERVICE MARKET, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 38 PRECISION AQUACULTURE SERVICE MARKET, BY TYPE, 2021–2026 (USD MILLION)
                               TABLE 39 PRECISION AQUACULTURE MARKET FOR SERVICES, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
                               FIGURE 42 MONITORING AND CONTROL SYSTEMS TO HOLD LARGEST SIZE OF PRECISION AQUACULTURE MARKET FOR SERVICES FROM 2021 TO 2026
                               TABLE 40 PRECISION AQUACULTURE MARKET FOR SERVICES, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
                               TABLE 41 PRECISION AQUACULTURE MARKET FOR SERVICES, BY REGION, 2017–2020 (USD MILLION)
                               TABLE 42 PRECISION AQUACULTURE MARKET FOR SERVICES, BY REGION, 2021–2026 (USD MILLION)

8 PRECISION AQUACULTURE MARKET, BY SYSTEM TYPE (Page No. - 113)
    8.1 INTRODUCTION
           TABLE 43 PRECISION AQUACULTURE MARKET, BY SYSTEMS TYPE, 2017–2020 (USD MILLION)
           FIGURE 43 UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS TO EXHIBIT HIGHEST CAGR IN PRECISION AQUACULTURE MARKET FROM 2021 TO 2026
           TABLE 44 PRECISION AQUACULTURE MARKET, BY SYSTEMS TYPE, 2021–2026 (USD MILLION)
    8.2 SMART FEEDING SYSTEMS
           8.2.1 SMART FEEDING SYSTEMS ENSURE OPTIMUM FEED INTAKE FOR HIGHER PRODUCTIVITY OF AQUACULTURE FARMS
                    TABLE 45 PRECISION AQUACULTURE MARKET FOR SMART FEEDING SYSTEMS, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 46 PRECISION AQUACULTURE MARKET FOR SMART FEEDING SYSTEMS, BY OFFERING, 2021–2026 (USD MILLION)
                    TABLE 47 PRECISION AQUACULTURE MARKET FOR SMART FEEDING SYSTEMS, BY FARM TYPE, 2017–2020 (USD MILLION)
                    TABLE 48 PRECISION AQUACULTURE MARKET FOR SMART FEEDING SYSTEMS, BY FARM TYPE, 2021–2026 (USD MILLION)
                    TABLE 49 PRECISION AQUACULTURE MARKET FOR SMART FEEDING SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
                    FIGURE 44 PRECISION AQUACULTURE MARKET IN AMERICAS FOR SMART FEEDING SYSTEMS TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
                    TABLE 50 PRECISION AQUACULTURE MARKET FOR SMART FEEDING SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
    8.3 MONITORING AND CONTROL SYSTEMS
           8.3.1 MONITORING AND CONTROL SYSTEMS EFFECTIVELY MONITOR HEALTH AND ACTIVITIES OF FISH ENSURING IMPROVED PRODUCTIVITY
                    TABLE 51 PRECISION AQUACULTURE MARKET FOR MONITORING AND CONTROL SYSTEMS, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 52 PRECISION AQUACULTURE MARKET FOR MONITORING AND CONTROL SYSTEMS, BY OFFERING, 2021–2026 (USD MILLION)
                    TABLE 53 PRECISION AQUACULTURE MARKET FOR MONITORING AND CONTROL SYSTEMS, BY FARM TYPE, 2017–2020 (USD MILLION)
                    TABLE 54 PRECISION AQUACULTURE MARKET FOR MONITORING AND CONTROL SYSTEMS, BY FARM TYPE, 2021–2026 (USD MILLION)
                    TABLE 55 PRECISION AQUACULTURE MARKET FOR MONITORING AND CONTROL SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
                    FIGURE 45 PRECISION AQUACULTURE MARKET IN AMERICAS FOR MONITORING AND CONTROL SYSTEMS TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
                    TABLE 56 PRECISION AQUACULTURE MARKET FOR MONITORING AND CONTROL SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
    8.4 UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS
           8.4.1 UNDERWATER ROV SYSTEMS TO CAPTURE HIGHEST CAGR IN PRECISION AQUACULTURE MARKET DURING FORECAST PERIOD
                    TABLE 57 PRECISION AQUACULTURE MARKET FOR UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 58 PRECISION AQUACULTURE MARKET FOR UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS, BY OFFERING, 2021–2026 (USD MILLION)
                    TABLE 59 PRECISION AQUACULTURE MARKET FOR UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
                    FIGURE 46 EUROPE TO HOLD LARGEST SIZE OF PRECISION AQUACULTURE MARKET FOR UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS IN 2026
                    TABLE 60 PRECISION AQUACULTURE MARKET FOR UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
    8.5 OTHERS
           TABLE 61 PRECISION AQUACULTURE MARKET FOR OTHER SYSTEM TYPES, BY OFFERING, 2017–2020 (USD MILLION)
           TABLE 62 PRECISION AQUACULTURE MARKET FOR OTHER SYSTEM TYPES, BY OFFERING, 2021–2026 (USD MILLION)
           TABLE 63 PRECISION AQUACULTURE MARKET FOR OTHER SYSTEMS, BY APPLICATION, 2017–2020 (USD MILLION)
           FIGURE 47 FEED OPTIMIZATION APPLICATION TO DOMINATE PRECISION AQUACULTURE MARKET FOR OTHER SYSTEMS, IN TERMS OF SIZE, DURING FORECAST PERIOD
           TABLE 64 PRECISION AQUACULTURE MARKET FOR OTHER SYSTEMS, BY APPLICATION, 2021–2026 (USD MILLION)
           TABLE 65 PRECISION AQUACULTURE MARKET FOR OTHER SYSTEM TYPES, BY AQUACULTURE FARM TYPE, 2017–2020 (USD MILLION)
           TABLE 66 PRECISION AQUACULTURE MARKET FOR OTHER SYSTEM TYPES, BY AQUACULTURE FARM TYPE, 2021–2026 (USD MILLION)
           TABLE 67 PRECISION AQUACULTURE MARKET FOR OTHER SYSTEM TYPES, BY REGION, 2017–2020 (USD MILLION)
           TABLE 68 PRECISION AQUACULTURE MARKET FOR OTHER SYSTEM TYPES, BY REGION, 2021–2026 (USD MILLION)

9 PRECISION AQUACULTURE MARKET, BY APPLICATION (Page No. - 128)
    9.1 INTRODUCTION
           TABLE 69 PRECISION AQUACULTURE MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
           FIGURE 48 FARM MONITORING AND SURVEILLANCE APPLICATION TO LEAD PRECISION AQUACULTURE MARKET IN 2026
           TABLE 70 PRECISION AQUACULTURE MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
    9.2 FEED OPTIMIZATION
           9.2.1 FEED OPTIMIZATION APPLICATION HELD LARGEST MARKET SHARE OF PRECISION AQUACULTURE MARKET IN 2020
                    TABLE 71 PRECISION AQUACULTURE MARKET FOR FEED OPTIMIZATION APPLICATION, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 72 PRECISION AQUACULTURE MARKET FOR FEED OPTIMIZATION APPLICATION, BY OFFERING, 2021–2026 (USD MILLION)
                    TABLE 73 PRECISION AQUACULTURE MARKET FOR FEED OPTIMIZATION APPLICATION, BY REGION, 2017–2020 (USD MILLION)
                    FIGURE 49 APAC TO HOLD LARGEST SIZE OF PRECISION AQUACULTURE MARKET FOR FEEDING OPTIMIZATION APPLICATION FROM 2021 TO 2026
                    TABLE 74 PRECISION AQUACULTURE MARKET FOR FEED OPTIMIZATION APPLICATION, BY REGION, 2021–2026 (USD MILLION)
    9.3 MONITORING AND SURVEILLANCE
           9.3.1 RISING ADOPTION OF AI AND IOT TECHNOLOGIES FOR FARM MANAGEMENT TO PROPEL GROWTH OF MARKET FOR MONITORING AND SURVEILLANCE APPLICATION
                    TABLE 75 PRECISION AQUACULTURE MARKET FOR MONITORING, AND SURVEILLANCE APPLICATION, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 76 PRECISION AQUACULTURE MARKET FOR MONITORING AND SURVEILLANCE APPLICATION, BY OFFERING, 2021–2026 (USD MILLION)
                    TABLE 77 PRECISION AQUACULTURE MARKET FOR MONITORING AND SURVEILLANCE APPLICATION, BY REGION, 2017–2020 (USD MILLION)
                    FIGURE 50 MONITORING AND SURVEILLANCE APPLICATION MARKET IN AMERICAS EXPECTED TO GROW AT HIGHEST CAGR BETWEEN 2021 AND 2026
                    TABLE 78 PRECISION AQUACULTURE MARKET FOR MONITORING AND SURVEILLANCE APPLICATION, BY REGION, 2021–2026 (USD MILLION)
    9.4 YIELD ANALYSIS AND MEASUREMENT
           9.4.1 MARKET FOR YIELD ANALYSIS AND MEASUREMENT APPLICATION TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 79 PRECISION AQUACULTURE MARKET FOR YIELD ANALYSIS AND MEASUREMENT APPLICATION, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 80 PRECISION AQUACULTURE MARKET FOR YIELD ANALYSIS AND MEASUREMENT APPLICATION, BY OFFERING, 2021–2026 (USD MILLION)
                    TABLE 81 PRECISION AQUACULTURE MARKET FOR YIELD ANALYSIS AND MEASUREMENT APPLICATION, BY REGION, 2017–2020 (USD MILLION)
                    FIGURE 51 PRECISION AQUACULTURE MARKET FOR YIELD ANALYSIS AND MEASUREMENT IN ROW IS EXPECTED TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
                    TABLE 82 PRECISION AQUACULTURE MARKET FOR YIELD ANALYSIS AND MEASUREMENT APPLICATION, BY REGION, 2021–2026 (USD MILLION)
    9.5 OTHERS
           TABLE 83 PRECISION AQUACULTURE MARKET FOR OTHER APPLICATIONS, BY OFFERING, 2017–2020 (USD MILLION)
           TABLE 84 PRECISION AQUACULTURE MARKET FOR OTHER APPLICATIONS, BY OFFERING, 2021–2026 (USD MILLION)
           TABLE 85 PRECISION AQUACULTURE MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2020 (USD MILLION)
           FIGURE 52 PRECISION AQUACULTURE MARKET IN AMERICAS FOR OTHER APPLICATIONS EXPECTED TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
           TABLE 86 PRECISION AQUACULTURE MARKET FOR OTHER APPLICATIONS, BY REGION, 2021–2026 (USD MILLION)

10 PRECISION AQUACULTURE MARKET, BY FARM TYPE (Page No. - 140)
     10.1 SHARE OF MAJOR CAGE-BASED AQUACULTURE-PRODUCING COUNTRIES, 2018
             TABLE 87 PRECISION AQUACULTURE MARKET, BY FARM TYPE, 2017–2020 (USD MILLION)
             FIGURE 53 RAS FARMS TO EXHIBIT HIGHER CAGR IN PRECISION AQUACULTURE MARKET FROM 2021 TO 2026
             TABLE 88 PRECISION AQUACULTURE MARKET, BY FARM TYPE, 2021–2026 (USD MILLION)
     10.2 CONTRIBUTION OF MAJOR AQUACULTURE TYPES TO OVERALL PRODUCTION IN 2019
             TABLE 89 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY TYPE, 2017–2020 (USD MILLION)
             TABLE 90 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY TYPE, 2021–2026 (USD MILLION)
             TABLE 91 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY OFFERING, 2017–2020 (USD MILLION)
             TABLE 92 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY OFFERING, 2021–2026 (USD MILLION)
             TABLE 93 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
             TABLE 94 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
             TABLE 95 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 96 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY APPLICATION, 2021–2026 (USD MILLION)
             TABLE 97 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY REGION, 2017–2020 (USD MILLION)
           FIGURE 54 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS IN AMERICAS TO GROW AT HIGHEST CAGR FROM 2020 TO 2026
             TABLE 98 PRECISION AQUACULTURE MARKET FOR OPEN AQUACULTURE FARMS, BY REGION, 2021–2026 (USD MILLION)
             10.2.1 POND BASED
                        10.2.1.1 Pond-based farms to hold larger share of precision aquaculture market for open aquaculture farms in 2020
             10.2.2 CAGE BASED
                        10.2.2.1 Developing countries to offer new market opportunities for cage-based aquaculture farms during forecast period
     10.3 AVERAGE SELLING PRICES OF PRECISION AQUACULTURE SENSORS (IN USD)
             10.3.1 RAS FARMS TO EXHIBIT HIGHER CAGR FROM 2021 TO 2026
                        TABLE 99 PRECISION AQUACULTURE MARKET FOR RAS FARMS, BY OFFERING, 2017–2020 (USD MILLION)
                        TABLE 100 PRECISION AQUACULTURE MARKET FOR RAS FARMS, BY OFFERING, 2021–2026 (USD MILLION)
                        TABLE 101 PRECISION AQUACULTURE MARKET FOR RAS FARMS, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
                        TABLE 102 PRECISION AQUACULTURE MARKET FOR RAS FARMS, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
                        TABLE 103 PRECISION AQUACULTURE MARKET FOR RAS FARMS, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 104 PRECISION AQUACULTURE MARKET FOR RAS FARMS, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 105 PRECISION AQUACULTURE MARKET FOR RAS FARMS, BY REGION, 2017–2020 (USD MILLION)
                        FIGURE 55 PRECISION AQUACULTURE MARKET FOR RAS FARMS IN EUROPE TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
                        TABLE 106 PRECISION AQUACULTURE MARKET FOR RAS FARMS, BY REGION, 2021–2026 (USD MILLION)

11 GEOGRAPHIC ANALYSIS (Page No. - 151)
     11.1 OPEN BLUE
             FIGURE 56 PRECISION AQUACULTURE MARKET: GEOGRAPHIC SNAPSHOT
             TABLE 107 PRECISION AQUACULTURE MARKET, BY REGION, 2017–2020 (USD MILLION)
             TABLE 108 PRECISION AQUACULTURE MARKET, BY REGION, 2021–2026 (USD MILLION)
     11.2 ERKO SEAFOOD AS
             TABLE 109 PRECISION AQUACULTURE MARKET IN AMERICAS, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
             TABLE 110 PRECISION AQUACULTURE MARKET IN AMERICAS, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
             TABLE 111 PRECISION AQUACULTURE MARKET IN AMERICAS, BY OFFERING, 2017–2020 (USD MILLION)
             TABLE 112 PRECISION AQUACULTURE MARKET IN AMERICAS, BY OFFERING, 2021–2026 (USD MILLION)
             TABLE 113 PRECISION AQUACULTURE MARKET IN AMERICAS, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 114 PRECISION AQUACULTURE MARKET IN AMERICAS, BY APPLICATION, 2021–2026 (USD MILLION)
             TABLE 115 PRECISION AQUACULTURE MARKET IN AMERICAS, BY AQUACULTURE FARM TYPE, 2017–2020 (USD MILLION)
             TABLE 116 PRECISION AQUACULTURE MARKET IN AMERICAS, BY AQUACULTURE FARM TYPE, 2021–2026 (USD MILLION)
             TABLE 117 PRECISION AQUACULTURE MARKET IN AMERICAS, BY REGION, 2017–2020 (USD MILLION)
             TABLE 118 PRECISION AQUACULTURE MARKET IN AMERICAS, BY REGION, 2021–2026 (USD MILLION)
             11.2.1 NORTH AMERICA
                        FIGURE 57 SNAPSHOT: PRECISION AQUACULTURE MARKET IN NORTH AMERICA
                        TABLE 119 PRECISION AQUACULTURE MARKET IN NORTH AMERICA, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
                        TABLE 120 PRECISION AQUACULTURE MARKET IN NORTH AMERICA, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
                        TABLE 121 PRECISION AQUACULTURE MARKET IN NORTH AMERICA, BY OFFERING, 2017–2020 (USD MILLION)
                        TABLE 122 PRECISION AQUACULTURE MARKET IN NORTH AMERICA, BY OFFERING, 2021–2026 (USD MILLION)
                        TABLE 123 PRECISION AQUACULTURE MARKET IN NORTH AMERICA, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 124 PRECISION AQUACULTURE MARKET IN NORTH AMERICA, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 125 PRECISION AQUACULTURE MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 126 PRECISION AQUACULTURE MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
                        11.2.1.1 US
                                     11.2.1.1.1 US accounted for largest share of precision aquaculture market in North America
                        11.2.1.2 Canada
                                     11.2.1.2.1 Large presence of aquaculture farms is fostering growth of precision aquaculture market
                        11.2.1.3 Mexico
                                     11.2.1.3.1 Market in Mexico is expected to witness robust growth during forecast period
             11.2.2 SOUTH AMERICA
                        FIGURE 58 SNAPSHOT: PRECISION AQUACULTURE MARKET IN SOUTH AMERICA
                        TABLE 127 PRECISION AQUACULTURE MARKET IN SOUTH AMERICA, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
                        TABLE 128 PRECISION AQUACULTURE MARKET IN SOUTH AMERICA, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
                        TABLE 129 PRECISION AQUACULTURE MARKET IN SOUTH AMERICA, BY OFFERING, 2017–2020 (USD MILLION)
                        TABLE 130 PRECISION AQUACULTURE MARKET IN SOUTH AMERICA, BY OFFERING, 2021–2026 (USD MILLION)
                        TABLE 131 PRECISION AQUACULTURE MARKET IN SOUTH AMERICA, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 132 PRECISION AQUACULTURE MARKET IN SOUTH AMERICA, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 133 PRECISION AQUACULTURE MARKET IN SOUTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 134 PRECISION AQUACULTURE MARKET IN SOUTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
                        11.2.2.1 Brazil
                                     11.2.2.1.1 Established aquaculture industry in Brazil is conducive to growth of market
                        11.2.2.2 Chile
                                     11.2.2.2.1 Chile to hold largest share of precision aquaculture market in South America during forecast period
                        11.2.2.3 ECUADOR
                                     11.2.2.3.1 Market in Ecuador is projected to grow at fastest CAGR in South America
                        11.2.2.4 Rest of South America
     11.3 Temperature and environmental sensors
             FIGURE 59 SNAPSHOT: PRECISION AQUACULTURE MARKET IN EUROPE
             TABLE 135 PRECISION AQUACULTURE MARKET IN EUROPE, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
             TABLE 136 PRECISION AQUACULTURE MARKET IN EUROPE, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
             TABLE 137 PRECISION AQUACULTURE MARKET IN EUROPE, BY OFFERING, 2017–2020 (USD MILLION)
             TABLE 138 PRECISION AQUACULTURE MARKET IN EUROPE, BY OFFERING, 2021–2026 (USD MILLION)
             TABLE 139 PRECISION AQUACULTURE MARKET IN EUROPE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 140 PRECISION AQUACULTURE MARKET IN EUROPE, BY APPLICATION, 2021–2026 (USD MILLION)
             TABLE 141 PRECISION AQUACULTURE MARKET IN EUROPE, BY FARM TYPE, 2017–2020 (USD MILLION)
             TABLE 142 PRECISION AQUACULTURE MARKET IN EUROPE, BY FARM TYPE, 2021–2026 (USD MILLION)
             TABLE 143 PRECISION AQUACULTURE MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 144 PRECISION AQUACULTURE MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
             11.3.1 NORWAY
                        11.3.1.1 Higher adoption of technologies and presence of prominent market players are fostering growth of precision aquaculture market
             11.3.2 SPAIN
                        11.3.2.1 Growing awareness about benefits associated with aquaculture automation to drive growth of market
             11.3.3 UK
                        11.3.3.1 Brexit deal to impact aquaculture industry of UK
             11.3.4 FRANCE
                        11.3.4.1 Presence of large number of fishing fleet in France
             11.3.5 ITALY
                        11.3.5.1 Government regulations to foster growth of precision aquaculture market
             11.3.6 REST OF EUROPE
     11.4 Growing popularity of software-as-a-service model fuels demand for cloud technology to ensure remote access to crucial data
             FIGURE 60 SNAPSHOT: PRECISION AQUACULTURE MARKET IN ASIA PACIFIC
             TABLE 145 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
             TABLE 146 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
             TABLE 147 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY OFFERING, 2017–2020 (USD MILLION)
             TABLE 148 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY OFFERING, 2021–2026 (USD MILLION)
             TABLE 149 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 150 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY APPLICATION, 2021–2026 (USD MILLION)
             TABLE 151 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY FARM TYPE, 2017–2020 (USD MILLION)
             TABLE 152 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY FARM TYPE, 2021–2026 (USD MILLION)
             TABLE 153 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 154 PRECISION AQUACULTURE MARKET IN ASIA PACIFIC, BY COUNTRY, 2021–2026 (USD MILLION)
             11.4.1 CHINA
                        11.4.1.1 China accounted for largest market share in Asia Pacific in 2020
             11.4.2 SOUTHEAST ASIA
                        11.4.2.1 Precision aquaculture market in Southeast Asia to witness robust growth from 2021 to 2026
             11.4.3 JAPAN
                        11.4.3.1 Technological advancements in shrimp farming in Japan to open new opportunities for precision aquaculture market from 2021 to 2026
             11.4.4 SOUTH KOREA
                        11.4.4.1 Increasing investments by key players and government support to fuel market growth during forecast period
             11.4.5 INDIA
                        11.4.5.1 India to witness highest CAGR in precision aquaculture market in APAC from 2021 to 2026
             11.4.6 REST OF ASIA PACIFIC
     11.5 PRECISION AQUACULTURE MARKET, BY SYSTEMS TYPE, 2021–2026 (USD MILLION)
             TABLE 155 PRECISION AQUACULTURE MARKET IN ROW, BY SYSTEM TYPE, 2017–2020 (USD MILLION)
             TABLE 156 PRECISION AQUACULTURE MARKET IN ROW, BY SYSTEM TYPE, 2021–2026 (USD MILLION)
             TABLE 157 PRECISION AQUACULTURE MARKET IN ROW, BY OFFERING, 2017–2020 (USD MILLION)
             TABLE 158 PRECISION AQUACULTURE MARKET IN ROW, BY OFFERING, 2021–2026 (USD MILLION)
             TABLE 159 PRECISION AQUACULTURE MARKET IN ROW, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 160 PRECISION AQUACULTURE MARKET IN ROW, BY APPLICATION, 2021–2026 (USD MILLION)
             TABLE 161 PRECISION AQUACULTURE MARKET IN ROW, BY FARM TYPE, 2017–2020 (USD MILLION)
             TABLE 162 PRECISION AQUACULTURE MARKET IN ROW, BY FARM TYPE, 2021–2026 (USD MILLION)
             TABLE 163 PRECISION AQUACULTURE MARKET IN ROW, BY REGION, 2017–2020 (USD MILLION)
             TABLE 164 PRECISION AQUACULTURE MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION)
             11.5.1 AFRICA
                        11.5.1.1 Low adoption rate in Africa owing to lack of technological awareness among aquaculture farmers
             11.5.2 MIDDLE EAST
                        11.5.2.1 Increasing R&D investments to boost adoption of aquaculture robots

12 COMPETITIVE LANDSCAPE (Page No. - 187)
     12.1 PRECISION AQUACULTURE MARKET FOR MONITORING AND CONTROL SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
             FIGURE 61 PRODUCT LAUNCHES: KEY STRATEGIES ADOPTED BY MAJOR PLAYERS FROM 2017 TO 2020
     12.2 PRECISION AQUACULTURE MARKET FOR MONITORING AND CONTROL SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
             TABLE 165 PRECISION AQUACULTURE MARKET: DEGREE OF COMPETITION (2020)
     12.3 UNDERWATER ROV SYSTEMS TO CAPTURE HIGHEST CAGR IN PRECISION AQUACULTURE MARKET DURING FORECAST PERIOD
             FIGURE 62 PRECISION AQUACULTURE MARKET EVALUATION FRAMEWORK
     12.4 PRECISION AQUACULTURE MARKET FOR UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS, BY OFFERING, 2021–2026 (USD MILLION)
             FIGURE 63 REVENUE ANALYSIS FOR MAJOR PLAYERS IN PRECISION AQUACULTURE MARKET, 2015–2019
     12.5 EUROPE TO HOLD LARGEST SIZE OF PRECISION AQUACULTURE MARKET FOR UNDERWATER REMOTELY-OPERATED VEHICLE SYSTEMS IN 2026
             12.5.1 STAR
             12.5.2 PERVASIVE
             12.5.3 EMERGING LEADER
             12.5.4 PARTICIPANT
                        FIGURE 64 PRECISION AQUACULTURE MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2020
     12.6 FEED OPTIMIZATION APPLICATION TO DOMINATE PRECISION AQUACULTURE MARKET FOR OTHER SYSTEMS, IN TERMS OF SIZE, DURING FORECAST PERIOD
             12.6.1 PROGRESSIVE COMPANIES
             12.6.2 RESPONSIVE COMPANIES
             12.6.3 DYNAMIC COMPANIES
             12.6.4 STARTING BLOCKS
                        FIGURE 65 PRECISION AQUACULTURE MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, SME ECOSYSTEM, 2020
                        TABLE 166 COMPANY FOOTPRINT
                        TABLE 167 COMPANY APPLICATION FOOTPRINT
                        TABLE 168 COMPANY PRODUCT FOOTPRINT
                        TABLE 169 COMPANY REGION FOOTPRINT
     12.7 PRECISION AQUACULTURE MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
             12.7.1 PRODUCT LAUNCHES AND DEVELOPMENTS
                        TABLE 170 PRODUCT LAUNCHES AND DEVELOPMENTS, 2017–2020
             12.7.2 DEALS
                        TABLE 171 PRECISION AQUACULTURE MARKET: DEALS, JANUARY 2017–DECEMBER 2020

13 COMPANY PROFILES (Page No. - 205)
     13.1 APAC TO HOLD LARGEST SIZE OF PRECISION AQUACULTURE MARKET FOR FEEDING OPTIMIZATION APPLICATION FROM 2021 TO 2026
(Business Overview, Products Offered, Recent Developments, and MnM View)* PRECISION AQUACULTURE MARKET FOR FEED OPTIMIZATION APPLICATION, BY REGION, 2021–2026 (USD MILLION)
             13.1.1 AKVA GROUP
                        TABLE 172 AKVA GROUP: COMPANY OVERVIEW
           FIGURE 66 AKVA GROUP: COMPANY SNAPSHOT
             13.1.2 STEINSVIK (PART OF SCALE AQ)
                        TABLE 173 STEINSVIK (SCALEAQ): COMPANY OVERVIEW
             13.1.3 INNOVASEA SYSTEMS
                        TABLE 174 INNOVASEA SYSTEMS: COMPANY OVERVIEW
             13.1.4 DEEP TREKKER
                        TABLE 175 DEEP TREKKER: COMPANY OVERVIEW
             13.1.5 ERUVAKA TECHNOLOGIES
                        TABLE 176 ERUVAKA TECHNOLOGIES: COMPANY OVERVIEW
             13.1.6 BLUEGROVE
                        TABLE 177 BLUEGROVE: COMPANY OVERVIEW
             13.1.7 AQUABYTE
                        TABLE 178 AQUABYTE: COMPANY OVERVIEW
             13.1.8 AKUAKARE
                        TABLE 179 AKUAKARE: COMPANY OVERVIEW
             13.1.9 CPI EQUIPMENT
                        TABLE 180 CPI EQUIPMENT: COMPANY OVERVIEW
             13.1.10 LIFEGARD AQUATICS
                        TABLE 181 LIFEGARD AQUATICS: COMPANY OVERVIEW
* Business Overview, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies. INTRODUCTION
     13.2 PRECISION AQUACULTURE MARKET, BY FARM TYPE, 2017–2020 (USD MILLION)
             13.2.1 PENTAIR AQUATIC ECO-SYSTEMS (AES), PART OF PENTAIR LP
                        TABLE 182 PENTAIR AQUATIC ECO-SYSTEMS (AES): COMPANY OVERVIEW
             13.2.2 SIGNIFY
                        TABLE 183 SIGNIFY: COMPANY OVERVIEW
             13.2.3 IMENCO AS
                        TABLE 184 IMENCO AS: COMPANY OVERVIEW
             13.2.4 OPTIMAR AS
                        TABLE 185 OPTIMAR AS: COMPANY OVERVIEW
             13.2.5 IN-SITU, INC.
                        TABLE 186 IN-SITU: COMPANY OVERVIEW
             13.2.6 OXYGAURD
                        TABLE 187 OXYGUARD: COMPANY OVERVIEW
             13.2.7 MONITORFISH
                        TABLE 188 MONITORFISH: COMPANY OVERVIEW
             13.2.8 JALA TECH
                        TABLE 189 JALA TECH: COMPANY OVERVIEW
             13.2.9 AQUACONNECT
                        TABLE 190 AQUACONNECT: COMPANY OVERVIEW
             13.2.10 SENSOREX
                        TABLE 191 SENSOREX: COMPANY OVERVIEW
             13.2.11 OSMO SYSTEMS
                        TABLE 192 OSMO SYSTEMS: COMPANY OVERVIEW
             13.2.12 AQUAMAOF
                        TABLE 193 AQUAMAOF: COMPANY OVERVIEW
             13.2.13 PLANET LIGHTING
                        TABLE 194 PLANET LIGHTING: COMPANY OVERVIEW
             13.2.14 MARITECH SYSTEMS
                        TABLE 195 MARITECH SYSTEMS: COMPANY OVERVIEW
             13.2.15 OBSERVE TECHNOLOGIES
                        TABLE 196 OBSERVE TECHNOLOGIES: COMPANY OVERVIEW

14 APPENDIX (Page No. - 246)
     14.1 INSIGHTS FROM INDUSTRY EXPERTS
     14.2 DISCUSSION GUIDE 
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATION
     14.5 RELATED REPORTS
     14.6 AUTHOR DETAILS

The study involved four major activities for estimating the size of the precision aquaculture market. Exhaustive secondary research has been carried out to collect information relevant to the market, its peer markets, and its parent market. Primary research has been undertaken to validate key findings, assumptions, and sizing with the industry experts across the value chain of the precision aquaculture market. Both top-down and bottom-up approaches have been employed to estimate the complete market size. It has been followed by the market breakdown and data triangulation methods to estimate the size of different segments and subsegments of the market.

Secondary Research

The research methodology that has been used to estimate and forecast the size of the precision aquaculture market began with the acquisition of data related to the revenues of key vendors in the market through secondary research. The secondary research referred to for this research study involve Global Aquaculture Alliance, National Aquaculture Association, FAOstat, and AgTech association. Some of the key secondary sources includes International Federation of Robotics, National Oceanic and Atmospheric Association (NOAA Fisheries), International Aquaculture Research Institute (ILRI), International Maritime Organization, Company Publications, and Industry Journals.

Moreover, the study involved extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the precision aquaculture market. Vendor offerings have been taken into consideration to determine the market segmentation. The entire research methodology included the study of annual reports, press releases, and investor presentations of companies; white papers; and certified publications and articles by recognized authors; directories; and databases.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the precision aquaculture market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand and supply-side players across key regions, namely, North America, Europe, APAC, and Middle East and Africa (MEA) and South America. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents.

Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Precision Aquaculture Market   Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of precision aquaculture market and its segments. The research methodology used to estimate the market size includes the following:

  • Key players in the market have been identified through extensive secondary research
  • The supply chain and the size of the precision aquaculture market, in terms of value, have been determined through primary and secondary research processes
  • Several primary interviews have been conducted with key opinion leaders related to precision aquaculture market including key OEMs, IDMs, and Tier I suppliers.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.

Global Precision aquaculture market Size: Bottom-Up Approach

Precision Aquaculture Market   Size, Bottom-Up Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation process explained above-the market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for each segment and subsegment of the market. The data has been triangulated by studying various factors and trends from both demand and supply sides of the precision aquaculture market.

Report Objectives

  • To describe and forecast the precision aquaculture market, in terms of value, based on system type, offering, farm type, application, and region
  • To describe and forecast the precision aquaculture market, in terms of value, for various segments with respect to 4 key regions, namely, North America, South America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
  • To provide a detailed overview of the precision aquaculture value chain
  • To strategically profile the key players and comprehensively analyze their market ranking in terms of revenue and core competencies
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges pertaining to the precision aquaculture market
  • To map competitive intelligence based on company profiles, strategies of key players, and game-changing developments such as product launches, partnerships, collaborations, and agreements undertaken in the precision aquaculture market

Available Customizations

Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
  • Additional country-level analysis of precision aquaculture market
  • Estimation of the market size of the segments of the precision aquaculture market based on different subsegments
COVID-19

Get in-depth analysis of the COVID-19 impact on the Precision Aquaculture Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Precision Aquaculture Market

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Published ON
Mar, 2021
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