Global IoT for Fisheries and Aquaculture
Market Report
2024
As per Cognitive Market Research's latest published report, the Global IoT for Fisheries and Aquaculture market size was $486.19 Million in 2022 and it is forecasted to reach $1,510.47 Million by 2030.IoT for Fisheries and Aquaculture Industry's Compound Annual Growth Rate will be 15.32% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global IoT for Fisheries and Aquaculture market size was $486.19 Million in 2022 and it is forecasted to reach $1,510.47 Million by 2030.IoT for Fisheries and Aquaculture Industry's Compound Annual Growth Rate will be 15.32% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global IoT for Fisheries and Aquaculture Market Sales Revenue 2022 | $ 486.19 Million |
Global IoT for Fisheries and Aquaculture Market Sales Revenue 2030 | $ 1 Million |
Global IoT for Fisheries and Aquaculture Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 15.32% |
Market Split by System Type |
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Market Split by Application |
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Market Split by Farm Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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IoT for Fisheries and Aquaculture Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
IoT devices coupled with Artificial Intelligence (AI) technology are helping fisheries to optimize when and where to fish. Sensors help to detect fish and catch size whereas cameras allow sorting of the catch. In addition, the data also helps to improve operational costs, enhance the maintenance of fleets and reduce fuel consumption. Therefore, several benefits associated with IoT-based fisheries are driving market growth.
Low consumption of fuel while fishing is the biggest challenge for aquaculture farmers. Less consumption of fuel is good not only from an economic standpoint but also environmental perspective. Therefore, IoT solution helps fisherman to fishermen to achieve their goals. For instance, many commercial fishing boats have real-time sensors that can track wave height, weather conditions, and also water temperature. This data is transmitted to the fishery manager in order to take decisions about when and where to deploy fleets which helps the fishermen to analyze where they are to be successful.
Aquaculture farms are taking the help of underwater cameras which monitor their fish 24/7 which allows farmers to address and identify issues quickly. Further, IoT solutions help aquaculture farmers to examine water quality parameters like pH level, dissolve oxygen content, and water temperature. This data is used to adjust water flow and feed type to create a better environment for growing healthier fish.
IoT technology used several methodologies and sophisticated analytics such as Artificial Intelligence (AI) and Machine Learning (ML)in order to deliver predictive and prescriptive solutions. Thus, the continuous learning approach associated with ML and AI required skilled professionals which is restraining the market growth to some extent. In addition, the high initial investment and maintenance costs can hinder the market growth.
On the other hand, market players are striving to come up with easy deployment solutions with low maintenance costs is projected to surge the market growth in the upcoming years.
The emergence of new technologies helps aquaculture practitioners to improve productivity and profitability. For instance, market players operating in this market are engaged in leveraging AI technology and data analytics which provides significant insights. AI monitors farm operations and provides real-time data about disease prediction and optimizing feed to farmers.
Drones equipped with sensors are used to collect data such as dissolved oxygen, water temperature and pH, and level of salinity. In addition, the latest technology can monitor the heart rate and metabolism of the stock. Some major operating market players in this market are focusing on developing satellite remote sensing systems that allow feed suppliers or lenders to track the portfolio of individual farms.
The outbreak of Covid-19 has negatively impacted the aquaculture industry’s growth. The pandemic has affected the production volume and also every service of the value chain resulting in a rethink of production methodology, adoption of new technologies such as IoT and AI, and supply chain infrastructure. Due to the lockdown announced by several governments of nations, the national and international trade facilities closed which directly affected the supply chain of food goods. Hotels and restaurants have been restricted to close their doors which led to a decreased demand for fish and fish-related products. Demand from the catering and hospitality sectors represents a major share of fish consumption in several countries. The cancellation of private as well as public events has led to a decrease in demand for fish-related products such as lobsters, bluefin tuna, oysters, and mahi-mahi.
Therefore, positive digital transformation is expected to have a more resilient effect on the aquaculture industry. By disrupting fish distribution, demand and supply, and production, COVID-19 has created many vulnerabilities in small-scale fisheries.
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May 2022
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
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)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
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.
The current report Scope analyzes IoT for Fisheries and Aquaculture Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global IoT for Fisheries and Aquaculture Market Report 2024 Edition 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.
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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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.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the IoT for Fisheries and Aquaculture market report 2024 Edition by contacting our team.
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.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global IoT for Fisheries and Aquaculture Market is witnessing significant growth in the near future.
In 2023, the Smart Feeding Systems segment accounted for noticeable share of global IoT for Fisheries and Aquaculture Market and is projected to experience significant growth in the near future.
The Feed Optimization segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Kva Group (Norway), Steinsvik (Scaleaq) (Norway) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
System Type | Smart Feeding Systems, Precision-fishing techniques, Smart Buoy technology, Metocean Data Collection, Monitoring and Control Systems, Underwater ROV Systems, Other System Type |
Application | Feed Optimization, Monitoring and Surveillance, Yield Analysis and Measurement, Other Applications |
Farm Type | Open Aquaculture Farms, RAS Farms |
List of Competitors | 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 |
This chapter will help you gain GLOBAL Market Analysis of IoT for Fisheries and Aquaculture. Further deep in this chapter, you will be able to review Global IoT for Fisheries and Aquaculture Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America IoT for Fisheries and Aquaculture Market Trends North America IoT for Fisheries and Aquaculture Technological Road Map North America IoT for Fisheries and Aquaculture Market Drivers North America IoT for Fisheries and Aquaculture Market Restraints North America IoT for Fisheries and Aquaculture Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation System Type Analysis 2019 -2031, will provide market size split by System Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by System Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Farm Type Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global IoT for Fisheries and Aquaculture market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Smart Feeding Systems have a significant impact on IoT for Fisheries and Aquaculture market? |
What are the key factors affecting the Smart Feeding Systems and Precision-fishing techniques of IoT for Fisheries and Aquaculture Market? |
What is the CAGR/Growth Rate of Feed Optimization during the forecast period? |
By type, which segment accounted for largest share of the global IoT for Fisheries and Aquaculture Market? |
Which region is expected to dominate the global IoT for Fisheries and Aquaculture Market within the forecast period? |
Segmentation Level Customization |
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