Precision Aquaculture Global Market Report 2022: Favourable Government Policies Boosting Sector Worldwide

News provided by

Dec 06, 2022, 06:30 ET

DUBLIN, Dec. 6, 2022 /PRNewswire/ -- The "Precision Aquaculture Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Farm Type, By System Type, By Application and By Region" report has been added to ResearchAndMarkets.com's offering.

The global precision aquaculture market is anticipated to observe impressive growth during the forecast period, 2023-2027. The major factors driving the growth of the market include technological advancements and demand for protein-rich aqua food. Nowadays, people are consuming seafoods for protein rich diet, as it helps to reduce health problems. Precision aquaculture has altered the traditional aquaculture activities and offers enhanced productivity of the aquaculture industry. The other factors supporting the market's growth are increasing awareness among farmers, growing investments in technological research and product innovation, and support from governments for infrastructure development in aquaculture. Additionally, the increasing income of the middle-class population, is driving the precision aquaculture market, globally.

Demand For Protein-Rich Aqua Food

The increase in consumption of protein rich food among masses in order to reduce health complications is surging the demand of aqua animals in market. Also, this inclination towards seafood is encouraging manufacturers and producers to expand their aquaculture platform in the global market. As per IEEE Xplore, aquaculture is estimated to supply almost 62% of fish till 2030 for human consumption.

Surging adoption of advanced technologies

Various advancements in aquaculture tools, technologies and techniques are being made, which is transforming traditional farming into automated aquaculture. These automated systems help companies to reduce the labor costs, minimize wastage of resources and enhance production efficiency.

In addition, a rise in investments and tech-oriented start-ups are bolstering the growth of market. Leading market players are adopting advanced technologies such as ROVs, AI and IoT which are propelling the growth of the market. For instance, in 2020, SinkabergHansen purchased an AC 600 VR feed barge with new technology for waterborne feeding from AKVA group ASA.

Rise in Investment in Technological Research and Increasing Awareness

Expansion of precision aquaculture industry is due to the support provided by governments worldwide for infrastructure development of the aquaculture sector. The rising efforts of investors, the health of the aquaculture industry is expected to augment by coupling the next-generation technologies, government initiatives, and smart solutions.

For instance, NOAA's SBIR program is supporting and investing in aquaculture research and development, which encourages small businesses to leverage federal funds to invest in innovative technologies and next-generation products, which lead to proper optimization.

In addition, farmers in developing as well as developed countries are getting aware about the precision aquaculture and well-established aqua farms respectively. For instance, in 2021, ICAR, launched ICAR-NePPA, which is designed to develop precision AG-Techs for sustained enhanced input use and production system with safe environment and quality produce to make agriculture a profit-making enterprise.

Market Segmentation

Precision Aquaculture Market, By Farm Type:

Open Aquaculture Farms
RAS Farms

Precision Aquaculture Market, By System Type:

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

Precision Aquaculture Market, By Application:

Feed Optimization
Monitoring and Surveillance
Yield Analysis and Measurement
Others

Precision Aquaculture Market, By Region:

North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
Australia
South Korea
Europe & CIS
Germany
France
United Kingdom
Spain
Italy
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on Global Precision Aquaculture Market

5. Voice of Customer

6. Global Precision Aquaculture Market Outlook

7. North America Precision Aquaculture Market Outlook

8. Europe Precision Aquaculture Market Outlook

9. Asia-Pacific Precision Aquaculture Market Outlook

10. South America Precision Aquaculture Market Outlook

11. Middle East and Africa Precision Aquaculture Market Outlook

12. Market Dynamics

13. Market Trends & Developments

14. Funding Analysis

15. Competitive Landscape

16. Strategic Recommendations

Companies Mentioned