IoT for Fisheries and Aquaculture Market Report 2023 (Global Edition)

Global IoT for Fisheries and Aquaculture Market Report 2023 talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing IoT for Fisheries and Aquaculture Industry growth. IoT for Fisheries and Aquaculture market has been segmented with the help of its System Type, Application Farm Type, and others. IoT for Fisheries and Aquaculture market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.

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System Type Segment Analysis of IoT for Fisheries and Aquaculture Market:

Among system types, the underwater remotely operated vehicles (ROV) system is expected to grow at the highest CAGR during the forecast period, from 2023 to 2030. The increasing adoption of ROV systems in North America and Western Europe is propelling market growth in recent years. Countries such U.S., Chile, Canada, and Norway are expected to drive the segment growth during the forecasting period. Features such as compact designs and easy-to-use technology in ROV systems help aquaculture practitioners to reach where areas that are difficult to reach or too narrow. In addition, it requires minimal maintenance and is cost-effective. Thus, several benefits associated with the ROV system are expected to surge the segment growth in the upcoming years.  

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By Application, monitoring and surveillance segment held the largest share of IoT for Fisheries and Aquaculture market revenue!

The monitoring and surveillance segment has accounted for the largest revenue market share of 45.13% in the year 2022

In 20222, monitoring and surveillance dominated the market in terms of revenue market share.  This is due to the increasing demand for monitoring aquaculture species growth and reducing overall wastage of water. An aquatic environment is always dynamic with changing chemical, biological, and physical characteristics. Therefore, the degradation of water quality is responsible for disease outbreaks. Therefore, effective monitoring and surveillance program is essential for controlling further outbreak of diseases. 

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IoT for Fisheries and Aquaculture Farm Type Segment Analysis

The RAS-based aquaculture segment is anticipated to grow at the highest CAGR over the forecast period.

The Recirculating Aquaculture System (RAS) is expected to grow at the fastest CAGR over the forecast period. RAS system allows the reusing and recycling of water after biological and mechanical filtration. Several advantages associated with RAS system are gaining momentum in segment growth. The major advantage of RAS system is easy to maintain and requires very less water quantity as compared to conventional systems. Another advantage of RAS is it requires less surface due to higher stocking density. In addition, it controls the water temperature which allows an optimum level of production followed by high product turnover.

• Open Aquaculture Farms
• RAS Farms

Asia Pacific IoT for Fisheries and Aquaculture Market dominates the overall market:

Asia Pacific is expected to dominate the market in the upcoming years due to the adoption of new technologies, high investment in R&D, and increasing government support for the development of fisheries and the aquaculture industry. In addition, the rapidly growing large number of aquaculture farms, and the development of new products are other major factors propelling the market growth in the Asia Pacific region.

North America and Europe regions are expected to have strong growth over the forecast period, from 2023 to 2030. In the U.S., most aquaculture farmers are raising fish in the recirculating aquaculture system (RAS) which is sold in majorly Canadian and U.S. cities such as Vancouver, Toronto, Boston, and New York. 

Region-wise, the market is analyzed across: (In case you wish to acquire a specific region or any country data then please contact us)

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

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Industry News:

May 2022

• Innovasea unveiled tagless fish-detecting technology:

A global leader in aquatic solutions for aquaculture and fish tracking unveiled tagless fish-detecting technology that detects, counts, and also classifies fish in real-time by using Artificial Intelligence (AI) solutions, and optical cameras. 

February 2020

• AKVA has completed a deal to buy a fish farming service provider Newfoundland Aqua Service Ltd (NAS):

A provider of fish farming services Newfoundland Aqua Service Ltd (NAS) is acquired by AKVA group. NAS manufactures docks, boats and barges, fish cages, and nets and also provides services like washing and disinfection, testing, and antifoulant treatment which allows the company to expand its geographical expansion.

Top Companies Market Share in IoT for Fisheries and Aquaculture Industry: (In no particular order of Rank)

• Kva 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)
• Sensorex (Norway)
• Marine Instruments
• Bluetraker
• Nec Global
• Libelium
• Kddi Corporation
• Hydroneo
• Efishery
• Scatri
• Orbcomm
• Blue Ocean Gear
• Go Smart
• Satlink
• Dhi Group
• Boc Metocean
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