Precision Aquaculture Market

Precision Aquaculture Market by System Type (Smart Feeding Systems, Monitoring & Control Systems, Underwater ROVS), Application (Feeding Management, Monitoring); Offering (Hardware, Software, Services), and Geography - Global Forecast to 2024

Report Code: SE 7476 Dec, 2019, by marketsandmarkets.com

The precision aquaculture market is estimated to be worth USD 398 million in 2019 and is projected to reach USD 764 million by 2024; it is expected to grow at a CAGR of 14.0% from 2019 to 2024. Major factors driving the growth of the market include rising demand for protein rich aqua food across the world, rapid adoption of advanced technologies–IoT, artificial intelligence (AI), feeding robots, and underwater remotely operated vehicles (ROVs) on aquaculture farms; increasing investment and rising R&D expenditure in aquaculture technology worldwide; and the growing popularity of land-based recirculating aquaculture systems.

Precision Aquaculture Market

“Market for hardware required in aquaculture systems expected to hold largest size during forecast period.”

Based on offering, the precision aquaculture market has been classified into hardware, software, and services. Hardware held the largest market share owing to the high adoption of automation and control devices, such as sensors, robotic components, smart feeding, underwater remotely operated vehicles (ROVs), and climate control systems.

“Smart feeding systems expected to hold largest market share from 2019 to 2024.”

Smart feeding systems held the largest market size owing to substantial operating cost savings associated with it. Smart feeding systems offer a substantial cost advantage over traditional and conventional feeding techniques. The smart feeding system with the combination of water vibration-based sensor, and machine learning; detects and determines the appetite of the fish to avoid overfeeding or underfeeding and saves a substantial amount of operating cost. The growing use of computerized feeding management systems combined with sensors and other aquaculture monitoring devices integrated with automated feeding systems opens new opportunities for the monitoring of fish ponds and aquaculture farms.

“Monitoring, control, and surveillance application to hold largest market share from 2019 to 2024.”

Major factors contributing toward the growth of the market for the monitoring, control, and surveillance application include the increasing adoption of automated aquaculture farm monitoring devices–IoT, underwater remotely operated vehicles, and smart camera systems; the focus of aquaculture farmers toward increasing the yield, and growing demand for protein-rich aqua products across the world. The automation of aquaculture farms reduces labor costs, increases operational efficiency, and leads to higher farm yields. The IoT-based monitoring of aquaculture farms has gained tremendous popularity in recent years due to various advantages, which include increased productivity, the early detection of diseases among aquatic species, and maintaining the water quality of fish pond, and aquaculture farms.

Precision Aquaculture Market

“APAC to account for largest market share from 2019 to 2024.”

APAC is expected to hold the largest market size from 2019 to 2024 owing to the widespread automation of aquaculture farms in countries such as China, Japan, Indonesia, and India. The increasing number of aquaculture farms, rising labor costs due to a severe shortage of labor force are the major factors for the high adoption of aquaculture technology in this region. The growing replacement of conventional feeding systems with advanced and sophisticated ones in Eastern Asian countries is further expected to boost the growth of the market in this region.

Key Market Players

Key players in the precision aquaculture market are AKVA Group (Norway), InnovaSea Systems (US), Deep Trekker (Canada), Eruvaka Technology (India), Steinsvik (Norway), Pentair AES (US), Aquabyte (US), Akuakare (Turkey), CPI Equipment (Canada), Lifegard Aquatics (US), Imenco AS (Norway), In-Situ (US), Vemco (US), Observe Technology, JALA Tech (Indonesia), MonitorFish (Germany), Imenco Aquaculture (Norway), Omso Systems (US), and Aqualine AS (Norway)

These players adopt various strategies, such as product developments, mergers, partnerships, collaborations, and expansions, to cater to customer demands.

Report Scope

Report Metric

Details

Market size available for years

2016–2024

 Base year considered

2018

 Forecast period

2019–2024

 Forecast units

Value (USD)

 Segments covered

System Type, Offering, Application, and Region

 Geographies covered

Americas, Europe, APAC, and RoW

 Companies covered

AKVA Group (Norway), InnovaSea Systems (US), Deep Trekker (Canada), Eruvaka Technology (India), Steinsvik (Norway), Pentair AES (US), Aquabyte (US), Akuakare (Turkey), CPI Equipment (Canada), Lifegard Aquatics (US), Imenco AS (Norway), In-Situ (US), Vemco (US), Observe Technology, JALA Tech (Indonesia), MonitorFish (Germany), Imenco Aquaculture (Norway), Omso Systems (US), and Aqualine AS (Norway)

The precision aquaculture market comprises technology providers such as AKVA Group (Norway), InnovaSea Systems (US), Deep Trekker (Canada), Eruvaka Technology (India), Steinsvik (Norway), Pentair AES (US).

The report also describes the drivers, restraints, opportunities, and challenges pertaining to the growth of the precision aquaculture market. In addition to the in-depth view on market segmentation, the report includes critical market data and qualitative information for each type, along with qualitative analyses, such as value chain analysis, market ranking analysis, and competitive situations and trends. The report targets technology providers, software and service providers, system integrators, and end-user industries.

Report Scope

The precision aquaculture market has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. The market has been segmented as below:

Precision Aquaculture Market, by Application

  • Feeding Management
  • Monitoring, Control, and Survelliance
  • Others

Precision Aquaculture Market, by Technology

  • Automatic Feeding Systems
  • Monitoring & Control Systems
  • Underwater ROV System/Aquaculture Underwater Robots
  • Others

Precision Aquaculture Market, by Offering

  • Hardware
  • Software
  • Services

Precision Aquaculture Market, by Region

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

Recent Developments

  • In August 2019, AKVA Group launched a fully electric polarcirkel boat for aquaculture. The electric boat is equipped with capacity 100 Kwh and a battery pack of 1 hour operation.
  • In July 2019, AKVA Group released the new version of its cloud-based solution for the aquaculture industry.
  • In March 2019, Innovasea Systems completed the acquisition of Nortek Akvakultur (Norway).
  • In March 2019, Steinsvik partnered with FishGlobe for providing the feeding and integration platform for closed cage aquaculture systems.
  • In August 2018, AKVA Group completed the acquisition of Egersund Net (Norway).

Critical Questions the Report Answers:

  • Where will all these developments take the industry in the mid to long term?
  • What are the upcoming industry applications of precision aquaculture?
  • Who are the important players in the precision aquaculture market?
  • What are the upcoming products and technologies in the market?
  • What are the major drivers, restraints, opportunities, and challenges for the market?

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Study Objectives
    1.2 Market Definition and Scope
           1.2.1 Inclusions and Exclusions
    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 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           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
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions
           2.4.1 Key Market Assumptions

3 Executive Summary (Page No. - 32)

4 Premium Insights (Page No. - 36)
    4.1 Attractive Opportunities in Precision Aquaculture Market
    4.2 Market in APAC, By Country and System Type
    4.3 Market, By Application
    4.4 Market, By Offering
    4.5 Geographic Analysis of Market

5 Market Overview (Page No. - 40)
    5.1 Market Dynamics
           5.1.1 Drivers
                    5.1.1.1 Surging Adoption of Advanced Technologies Such as IoT, Rovs, and AI in Aquaculture Farms
                    5.1.1.2 Growing Investments in Technological Research Efforts and Equipment Innovations
                    5.1.1.3 Rising Income Levels and Demand for Protein-Rich Aqua Food
                    5.1.1.4 Increasing Support By Worldwide Governments for Infrastructure Development in Aquaculture
           5.1.2 Restraints
                    5.1.2.1 Requirement for Huge Capital Expenditure and High Installation and Maintenance Costs of Aquaculture Farms
                    5.1.2.2 Need for Skilled Operators for Effective Management of Installed Base of Complex Systems
                    5.1.2.3 Lack of Technological Awareness Among Aquaculture Farmers
           5.1.3 Opportunities
                    5.1.3.1 Rising Adoption of Aquaculture Monitoring Devices in Developing Countries
                    5.1.3.2 Increasing Number of Aquaculture Farms and Growing Aquaculture Production
                    5.1.3.3 Increasing Popularity of Land-Based Recirculating Aquaculture Systems
           5.1.4 Challenges
                    5.1.4.1 Environmental Concerns Due to Extensive Aquaculture Farming

6 Industry Trends (Page No. - 48)
    6.1 Value Chain Analysis
           6.1.1 Major Market Players in Market
    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 Cost
           6.2.3 Adoption of Robotic Cages and Underwater Drones in Aquaculture Farms

7 Precision Aquaculture Market, By Offering (Page No. - 51)
    7.1 Introduction
    7.2 Hardware
           7.2.1 Monitoring Devices
                    7.2.1.1 Temperature and Environmental Monitoring Devices
                               7.2.1.1.1 Increasing Demand for Wireless Sensor Networks to Monitor Aquaculture Farms Would Propel Growth of Monitoring Devices
                    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 Others
           7.2.2 Camera Systems
                    7.2.2.1 Increasing Adoption of Smart HD and 4K Camera Systems in Aquaculture Farms Would Result in Second-Largest Market Size of Camera Systems
           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
           7.3.1 Cloud Based
                    7.3.1.1 Increasing 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-Premises Software Solutions
    7.4 Services

8 Precision Aquaculture Market, By System Type (Page No. - 67)
    8.1 Introduction
    8.2 Smart Feeding Systems
           8.2.1 Increasing Use of Smart Feeding Systems to Avoid Food Wastage and Negative Environmental Impact
    8.3 Monitoring and Control Systems
           8.3.1 Growing Adoption of Wireless Monitoring and Control Systems for the Effective Management of Aquaculture Farms
    8.4 Underwater Remotely Operated Vehicles
           8.4.1 Growing Use of Rov to Perform to Perform Functions Such as Control System Inspection, Water Flow and Quality Monitoring
    8.5 Other System Types

9 Precision Aquaculture Market, By Application (Page No. - 79)
    9.1 Introduction
    9.2 Feeding Management
           9.2.1 Importance of Feeding Management to Accurately Formulate Diets and Meet Nutrient Requirements of Each Group of Aquaculture Species
    9.3 Monitoring, Control, and Surveillance
           9.3.1 Monitoring, Control, and Surveillance Application to Command Precision Aquaculture Market
    9.4 Others

10 Geographic Analysis (Page No. - 87)
     10.1 Introduction
     10.2 Americas
             10.2.1 North America
                        10.2.1.1 US
                                     10.2.1.1.1 US Accounted for Largest Share of Market in North America
                        10.2.1.2 Canada
                                     10.2.1.2.1 Strong Growth of Canadian Market Over Past Decade
                        10.2.1.3 Mexico
                                     10.2.1.3.1 Mexican Market to Witness Robust Growth During Forecast Period
             10.2.2 South America
                        10.2.2.1 Brazil
                                     10.2.2.1.1 Brazil to Continue to Account for Largest Size of South American Market During Forecast Period
                        10.2.2.2 Chile
                                     10.2.2.2.1 Chile to Record Highest CAGR in Market in South America During 2019–2024
                        10.2.2.3 Rest of South America
     10.3 Europe
             10.3.1 Norway
                        10.3.1.1 Norway to Account for Largest Size of European Market From 2019 to 2024
             10.3.2 Spain
                        10.3.2.1 Spain, Being Big Producer of Aquaculture Products, Likely to Continue to Account for Second-Largest Market Size During Forecast Period
             10.3.3 UK
                        10.3.3.1 Brexit Deal to Impact Aquaculture Industry of UK
             10.3.4 France
                        10.3.4.1 Presence of More Than 7,000 Fishing Fleet Would Drive Growth of French Market
             10.3.5 Italy
                        10.3.5.1 Italy to Witness Highest Growth in European Precision Aquaculture Market During Forecast Period
             10.3.6 Rest of Europe
     10.4 Asia Pacific
             10.4.1 China
                        10.4.1.1 China Accounted for Largest Market Share in Asia Pacific in 2018
             10.4.2 India
                        10.4.2.1 India to Witness Robust Growth for Market in APAC From 2019 to 2024
             10.4.3 Indonesia
                        10.4.3.1 Market in Indonesia to Grow at Highest CAGR During Forecast Period
             10.4.4 Vietnam
                        10.4.4.1 Market in Vietnam to Witness Robust Growth From 2019 to 2024
             10.4.5 Rest of Asia Pacific
     10.5 Rest of World
             10.5.1 Africa
                        10.5.1.1 Low Adoption Rate in Africa Owing to Weak Currency and Low Profit Margins
             10.5.2 Middle East
                        10.5.2.1 Increasing R&D Investments to Boost Adoption of Aquaculture Robots

11 Competitive Landscape (Page No. - 120)
     11.1 Introduction
     11.2 Ranking Analysis for Precision Aquaculture Market Players, 2018
     11.3 Competitive Situations and Trends
     11.4 Competitive Leadership Mapping, 2018
             11.4.1 Visionary Leaders
             11.4.2 Dynamic Differentiators
             11.4.3 Innovators
             11.4.4 Emerging Companies
     11.5 Competitive Benchmarking
             11.5.1 Strength of Product Portfolio (25 Players)
             11.5.2 Business Strategies Excellence (25 Players)
     11.6 Recent Developments
             11.6.1 Product Launches and Developments
             11.6.2 Agreements, Partnerships, and Contracts
             11.6.3 Expansions, and Mergers and Acquisitions

12 Company Profiles (Page No. - 128)
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Key Players
             12.1.1 AKVA Group
             12.1.2 Innovasea Systems
             12.1.3 Deep Trekker
             12.1.4 Eruvaka Technologies
             12.1.5 Steinsvik
             12.1.6 Pentair Aes (Subsidiary of Pentair LP)
             12.1.7 Aquabyte
             12.1.8 Akuakare
             12.1.9 CPI Equipment
             12.1.10 Lifegard Aquatics
     12.2 Other Players
             12.2.1 Imenco As
             12.2.2 Optimar
             12.2.3 In-Situ, Inc.
             12.2.4 Vemco
     12.3 Key Innovators
             12.3.1 Observe Technologies
             12.3.2 Jala Tech Pte
             12.3.3 Monitorfish
             12.3.4 Imenco Aquaculture
             12.3.5 Osmo Systems
             12.3.6 Aqualine As
             12.3.7 Sensorex
     12.4 Right to Win

*Details on Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 154)
     13.1 Insights From Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customization
     13.5 Related Reports
     13.6 Author Details


List of Tables (95 Tables)

Table 1 Global Aquaculture Production Trend, 2016–2024 (Million Metric Tons)
Table 2 Global Installed Base of Fishing Fleet, By Size, 2016–2024 (Million Units)
Table 3 Precision Aquaculture Market, By Offering, 2016–2024 (USD Million)
Table 4 Market for Hardware, By Type, 2016–2024 (USD Million)
Table 5 Market for Hardware, By System Type, 2016–2024 (USD Million)
Table 6 Market for Hardware, By Region, 2016–2024 (USD Million)
Table 7 Market in APAC for Hardware, By Country, 2016–2024 (USD Million)
Table 8 Market in Americas for Hardware, By Region, 2016–2024 (USD Million)
Table 9 Market in North America for Hardware, By Country, 2016–2024 (USD Million)
Table 10 Market in South America for Hardware, By Country, 2016–2024 (USD Million)
Table 11 Market in Europe for Hardware, By Country, 2016–2024 (USD Million)
Table 12 Market in RoW for Hardware, By Region, 2016–2024 (USD Million)
Table 13 Market for Software, By System Type, 2016–2024 (USD Million)
Table 14 Market for Software, By Region, 2016–2024 (USD Million)
Table 15 Market in APAC for Software, By Country, 2016–2024 (USD Million)
Table 16 Precision Aquaculture Market in Americas for Software, By Region, 2016–2024 (USD Million)
Table 17 Market in North America for Software, By Country, 2016–2024 (USD Million)
Table 18 Market in South America for Software, By Country, 2016–2024 (USD Million)
Table 19 Market in Europe for Software, By Country, 2016–2024 (USD Million)
Table 20 Market in RoW for Software, By Region, 2016–2024 (USD Million)
Table 21 Market for Services, By System Type, 2016–2024 (USD Million)
Table 22 Market for Services, By Region, 2016–2024 (USD Million)
Table 23 Market, By System Type, 2016–2024 (USD Million)
Table 24 Global Fishing Vessels Market, By Size, 2016–2024 (Thousand Units)
Table 25 Market for Smart Feeding Systems, By Offering, 2016–2024 (USD Million)
Table 26 Market for Smart Feeding Systems, By Region, 2016–2024 (USD Million)
Table 27 Market for Monitoring and Control Systems, By Offering, 2016–2024 (USD Million)
Table 28 Market for Monitoring and Control Systems, By Region, 2016–2024 (USD Million)
Table 29 Market for Underwater Remotely Operated Vehicles, By Offering, 2016–2024 (USD Million)
Table 30 Market for Underwater Remotely Operated Vehicles, By Region, 2016–2024 (USD Million)
Table 31 Market for Other System Types, By Offering, 2016–2024 (USD Million)
Table 32 Market for Other System Types, By Application, 2016–2024 (USD Million)
Table 33 Market for Other System Types, By Region, 2016–2024 (USD Million)
Table 34 Market, By Application, 2016–2024 (USD Million)
Table 35 Market for Feeding Management Application, By Offering, 2016–2024 (USD Million)
Table 36 Market for Feeding Management Applications, By Region, 2016–2024 (USD Million)
Table 37 Market for Monitoring, Control, and Surveillance Application, By Offering, 2016–2024 (USD Million)
Table 38 Market for Monitoring, Control, and Surveillance Management, By Region, 2016–2024 (USD Million)
Table 39 Market for Other Applications, By Offering, 2016–2024 (USD Million)
Table 40 Market for Other Applications, By Region, 2016–2024 (USD Thousand)
Table 41 Precision Aquaculture Market, By Region, 2016–2024 (USD Million)
Table 42 Market in Americas, By System Type, 2016–2024 (USD Million)
Table 43 Market in Americas, By Offering, 2016–2024 (USD Million)
Table 44 Market in Americas, By Application, 2016–2024 (USD Thousand)
Table 45 Market in Americas, By Region, 2016–2024 (USD Million)
Table 46 Market in North America, By System Type, 2016–2024 (USD Million)
Table 47 Market in North America, By Offering, 2016–2024 (USD Million)
Table 48 Market in North America, By Application, 2016–2024 (USD Million)
Table 49 Market in North America, By Country, 2016–2024 (USD Million)
Table 50 Market in US, By System Type, 2016–2024 (USD Million)
Table 51 Market in US, By Offering, 2016–2024 (USD Million)
Table 52 Market in US, By Application, 2016–2024 (USD Million)
Table 53 Market in Canada, By System Type, 2016–2024 (USD Million)
Table 54 Market in Canada, By Offering, 2016–2024 (USD Million)
Table 55 Market in Canada, By Application, 2016–2024 (USD Million)
Table 56 Market in South America, By System Type, 2016–2024 (USD Million)
Table 57 Market in South America, By Offering, 2016–2024 (USD Million)
Table 58 Market in South America, By Application, 2016–2024 (USD Million)
Table 59 Market in South America, By Country, 2016–2024 (USD Million)
Table 60 Market in Brazil, By System Type, 2016–2024 (USD Million)
Table 61 Market in Brazil, By Offering, 2016–2024 (USD Million)
Table 62 Market in Brazil, By Application, 2016–2024 (USD Million)
Table 63 Market in Chile, By System Type, 2016–2024 (USD Million)
Table 64 Market in Chile, By Offering, 2016–2024 (USD Million)
Table 65 Market in Chile, By Application, 2016–2024 (USD Thousand)
Table 66 Market in Europe, By System Type, 2016–2024 (USD Million)
Table 67 Market in Europe, By Offering, 2016–2024 (USD Million)
Table 68 Market in Europe, By Application, 2016–2024 (USD Million)
Table 69 Market in Europe, By Country, 2016–2024 (USD Million)
Table 70 Market in Norway, By System Type, 2016–2024 (USD Million)
Table 71 Market in Norway, By Offering, 2016–2024 (USD Million)
Table 72 Market in Norway, By Application, 2016–2024 (USD Million)
Table 73 Market in Spain, By System Type, 2016–2024 (USD Million)
Table 74 Market in Spain, By Offering, 2016–2024 (USD Million)
Table 75 Market in Spain, By Application, 2016–2024 (USD Million)
Table 76 Market in UK, By System Type, 2016–2024 (USD Million)
Table 77 Market in UK, By Offering, 2016–2024 (USD Million)
Table 78 Market in UK, By Application, 2016–2024 (USD Million)
Table 79 Market in France, By System Type, 2016–2024 (USD Million)
Table 80 Market in France, By Offering, 2016–2024 (USD Thousand)
Table 81 Market in France, By Application, 2016–2024 (USD Million)
Table 82 Market in Asia Pacific, By System Type, 2016–2024 (USD Million)
Table 83 Market in Asia Pacific, By Offering, 2016–2024 (USD Million)
Table 84 Market in Asia Pacific, By Application, 2016–2024 (USD Million)
Table 85 Market in Asia Pacific, By Country, 2016–2024 (USD Million)
Table 86 Market in China, By System Type, 2016–2024 (USD Million)
Table 87 Market in China, By Offering, 2016–2024 (USD Million)
Table 88 Market in China, By Application, 2016–2024 (USD Million)
Table 89 Market in RoW, By System Type, 2016–2024 (USD Million)
Table 90 Market in RoW, By Offering, 2016–2024 (USD Million)
Table 91 Market in RoW, By Application, 2016–2024 (USD Million)
Table 92 Market in RoW, By Region, 2016–2024 (USD Million)
Table 93 Product Launches and Developments, 2017–2019
Table 94 Agreements, Partnerships, and Contracts, 2017–2019
Table 95 Expansions, and Merger and Acquisitions, 2017–2019


List of Figures (56 Figures)

Figure 1 Precision Aquaculture Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Market Size Estimation: Supply-Side Approach
Figure 5 Market Size Estimation: Demand-Side Approach
Figure 6 Data Triangulation
Figure 7 Precision Aquaculture Market, 2016–2024 (USD Million)
Figure 8 Hardware Segment to Hold Largest Share of Market, By Offering, in 2019
Figure 9 Underwater Remotely Operated Vehicles to Witness Highest CAGR in Market From 2019 to 2024
Figure 10 Monitoring, Control, and Surveillance Application to Account for Largest Size of Market in 2019
Figure 11 South America to Witness Highest CAGR in Market During Forecast Period
Figure 12 Surging Adoption of Advanced Technologies Such as IoT, and AI in Aquaculture Farms
Figure 13 China and Monitoring & Control Systems to Hold Largest Share of Precision Aquaculture Market in Asia Pacific, By Country and System Type, Respectively, in 2019
Figure 14 Monitoring, Control, and Surveillance Application to Hold Largest Share of Market in 2024
Figure 15 Hardware Segment to Dominate Market, in Terms of Size, During Forecast Period
Figure 16 Indonesia to Register Highest CAGR in Global Market During Forecast Period
Figure 17 Precision Aquaculture Farming Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Precision Aquaculture Farming Market: Drivers and Their Impact
Figure 19 Global Production of Fisheries, 2016–2026 (Million Metric Tons)
Figure 20 Aquaculture Production in Major 10 Countries (Million Metric Tons)
Figure 21 Precision Aquaculture Farming Market: Restraints and Their Impact
Figure 22 Precision Aquaculture Farming Market: Opportunities and Their Impact
Figure 23 Aquaculture Production Expected to Surpass Wild-Caught Fish Production By 2024
Figure 24 Precision Aquaculture Farming Market: Challenges and Their Impact
Figure 25 Value Chain Analysis: Precision Aquaculture Market
Figure 26 Software Segment to Exhibit Highest CAGR in Market, By Offering, During Forecast Period
Figure 27 Monitoring Devices to Hold Largest Size of Market for Hardware in 2024
Figure 28 Americas to Witness Highest CAGR in Market for Hardware Offerings During Forecast Period
Figure 29 Market in Canada for Hardware Segment to Grow at Highest CAGR During Forecast Period
Figure 30 Norway to Hold Largest Share of European Market for Software Offerings From 2019 to 2024
Figure 31 Monitoring and Control Systems to Hold Largest Size of Market for Service Offerings From 2019 to 2024
Figure 32 Underwater Remotely Operated Vehicles to Exhibit Highest CAGR in Market From 2019 to 2024
Figure 33 Global Fishing Vessels Market, 2016–2024 (Million Units)
Figure 34 Market for Smart Feeding Systems, By Application, 2016–2024 (USD Million)
Figure 35 Precision Aquaculture Market in Americas for Smart Feeding Systems to Grow at Highest CAGR From 2019 to 2024
Figure 36 Market for Monitoring and Control Systems, By Application, 2016–2024 (USD Million)
Figure 37 APAC to Record Highest CAGR in Market for Monitoring and Control Systems From 2019 to 2024
Figure 38 Market for Underwater Remotely Operated Vehicles, By Application, 2016–2024 (USD Million)
Figure 39 Europe to Hold Largest Size of Market for Underwater Remotely Operated Vehicles in 2024
Figure 40 Feeding Management Application to Dominate Market for Other Systems During Forecast Period
Figure 41 Monitoring, Control, and Surveillance Application to Lead Market During 2019–2024
Figure 42 Precision Aquaculture Market for Feeding Management Application, By System Type, 2016–2024 (USD Million)
Figure 43 APAC to Hold Largest Size of Market for Feeding Management Application From 2019 to 2024
Figure 44 Market for Monitoring, Control, and Surveillance Application, By System Type, 2016–2024 (USD Million)
Figure 45 Surveillance Americas to Exhibit Highest CAGR in Market for Monitoring, Control, and Surveillance Application From 2019 to 2024
Figure 46 Precision Aquaculture Market in Americas for Other Applications Expected to Grow at Highest CAGR From 2019 to 2024
Figure 47 Market: Geographic Snapshot
Figure 48 Market Snapshot in North America
Figure 49 Market Snapshot in South America
Figure 50 Market Snapshot in Europe
Figure 51 Market Snapshot in Asia Pacific
Figure 52 Product Launches: Key Strategies Adopted By Key Players From 2017 to 2019
Figure 53 Market Ranking of Top 5 Players in Market, 2018
Figure 54 Precision Aquaculture Market (Global) Competitive Leadership Mapping, 2019
Figure 55 AKVA Group: Company Snapshot
Figure 56 Pentair LP: Company Snapshot

The study involved 4 major activities in estimating the size of the precision aquaculture market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market’s size. Thereafter, market breakdown and data triangulation were used to estimate the market sizes of segments and subsegments.

Secondary Research

In the precision aquaculture market report, both top-down and bottom-up approaches have been used to estimate and validate the size of the precision aquaculture market, along with other dependent submarkets. The key players in the precision aquaculture market have been identified through secondary research, and their market share have been determined through primary and secondary research. This entire research methodology involved studying annual and financial reports of the top players and interviewing experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both quantitative and qualitative). All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that may affect the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Primary Research

The precision aquaculture market supply chain comprises several stakeholders such as aquaculture farm equipment manufacturers, device manufacturers, technology and solution providers, and system integrators. The demand side of this market is characterized by government, corporate aquaculture companies, commercial aquaculture farms, aquaculture research institutes, family-owned aquaculture farms, and aquaculture associations; the supply side is characterized by aquaculture equipment manufacturers, component suppliers, solution providers, and system integrators. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of the primary respondents is provided below:

Precision Aquaculture Market

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the precision aquaculture market. These methods were also extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:

  • The key players in the market were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

The main objectives of this study are:

    • To define, analyze, and forecast the precision aquaculture market, in terms of value and volume, by system type, offering, application, and geography
    • To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the precision aquaculture market
    • To forecast the precision aquaculture market for various segments with respect to 4 regions—the Americas–North America, South America; Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
    • To strategically profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, and detail the competitive landscape for market leaders

    Available Customizations:

    Country-wise Information:

    • Detailed analysis of various hardware, and software for each country.
    • Detailed analysis of system types–smart feeding systems, and monitroing & control systems in each country

    Company Information:

    • Detailed analysis and profiling of additional market players (up to 5)
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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Report Code
SE 7476
Published ON
Dec, 2019
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