JERSEY CITY, N.J., July 8, 2022 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of market assessment report on "Global IoT for Fisheries and Aquaculture Market By Application (Feed Optimization, Monitoring and Surveillance, Yield Analysis & Measurement, and Other Applications), By System Type (Smart Feeding Systems, Precision-fishing Techniques, Smart Buoy technology, Metocean Data Collection, Monitoring and Control Systems, Underwater ROV Systems, and Other System Type), Farm Type (Open Aquaculture Farms and RAS Farms)- By Trends, Industry Competition Analysis, Revenue and Forecast Till 2030"
According to the latest research by InsightAce Analytic, the global IoT for fisheries and aquaculture market size valued at US$ 415.37 Million in 2021 and it is expected to reach US$ 1232.32 Million in 2030, recording a promising CAGR of 13.2% during the period of 2022-2030.
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In recent years, IoT has already shown a vast array of application sectors. In Aquaculture sector, Internet of Things (IoT)-based devices are utilised to monitor aquaculture's fundamental demands and assist in the provision of fisheries necessities. Numerous water conditions will be monitored using IoT sensors to improve the fish habitat. These devices include sensors that detect the Potential of Hydrogen (pH) level and the water temperature, as well as two additional sections for the measurement of dissolved oxygen level and ammonia level using testing kits, which are required for proper fish farming in the appropriate water. Companies are focused on developing cloud-based analytical software tools, including artificial intelligence, for collecting data from smart sensors and satellites, making aquaculture operations more productive and environmentally friendly. Aquaculture's expanding popularity will drive future demand for IoT in the aquaculture market.
The growth of the IoT for fisheries and aquaculture market can be driven by the factors such as the increasing number of aquaculture farms, rising investments in R&D, innovation of products, fast adoption of advanced technologies, high demand for protein-rich aqua food, and increasing government support for infrastructure development in aquaculture. The key drivers of the market's expansion are the increasing use of aquaculture equipment in fish farms worldwide, the popularity of aquaculture farming using recirculation aquaculture systems (RAS), and the quick uptake of underwater ROVs in developing nations.
However, the development of the IoT for fisheries and aquaculture market may be hampered by complicated system procedures, high monitoring costs for aquaculture farms, a high capital investment requirement, a shortage of skilled operators, and a lack of farmers who are familiar with cutting-edge technologies.
Geographically, the Asia-Pacific market is expected to dominate during the forecast period due to the fast adoption of advanced technologies and the growing aquaculture industry. China, India, Indonesia, and Japan are the leading countries in this Region.
Some of the key Players of IoT for fisheries and aquaculture market are AKVA group (Norway), InnovaSea Systems (U.S.), Steinsvik (ScaleAQ) (Norway), Deep Trekker (Canada), Aquabyte (U.S.), Eruvaka Technologies (India), Akuakare (Turkey), CPI Equipment (Canada), Lifegard Aquatics (U.S.), Bluegrove (Norway), Imenco AS (Norway), In-Situ (U.S.), Signify (Netherlands), Jala Tech (Indonesia), Planet Lighting (Australia), Maritech Systems (Norway), OxyGaurd (Denmark), Aquaconnect (India), AquaMaof (Israel), MonitorFish (Germany), Observe Technologies (U.K.), Omso Systems (U.S.), 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 and Other Prominent Players
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Key developments
- In Apr 2022, Deep Trekker Inc. has been acquired by Halma, a global consortium of life-saving technology firms. Deep Trekker will continue to be run as a separate business under Halma's management and will join the Environmental & Analysis sector.
- In Jun 2022, A distribution partner agreement was established between eFishery and AquaEasy in order to implement an artificial intelligence (A.I.) solution supported by water quality internet of things (IoT) sensors. The goal of this multimillion-dollar partnership is to boost the productivity, financial success, and long-term viability of Indonesia's shrimp farming sector.
- In May 2022, Innovasea Unveils Tagless Fish Detection Technology that Counts Fish and Identifies Species in Real Time using imaging sonar, optical cameras and artificial intelligence.
- In January 2020, A significant provider of fish farming services in Newfoundland and Labrador, Newfoundland Aqua Service Ltd (NAS), was acquired by AKVA group. Fish cages, docks, boats and barges, and nets are all manufactured by NAS, which also provides a full range of services, such as on-land net washing and disinfection, net manufacturing, testing, and mending/repair, and antifoulant treatment. Through this acquisition, the company hopes to increase its geographic presence in this region.
Market Segments
Global IoT for Fisheries and Aquaculture Market, by Application, 2022-2030 (Value US$ Mn)
- Feed Optimization
- Monitoring and Surveillance
- Yield Analysis and Measurement
- Others
Global IoT for Fisheries and Aquaculture Market, by System Type, 2022-2030 (Value US$ Mn)
- · Smart Feeding Systems
- · Precision-fishing technique
- · Monitoring and Control Systems
- · Smart Buoy technology
- · Metocean Data Collection
- · Underwater ROV Systems
- · Other System Type
Global IoT for Fisheries and Aquaculture Market, by Farm Type, 2022-2030 (Value US$ Mn)
- Open Aquaculture Farms
- RAS Farms
Global IoT for Fisheries and Aquaculture Market, by Region, 2022-2030 (Value US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
- U.S.
- Canada
Europe IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa IoT for Fisheries and Aquaculture Market, by Country, 2022-2030 (Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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Other Related Reports Published by InsightAce Analytic:
Global Petcare IoT Platforms Market
Global Veterinary Digital Technology Market
Global Sustainable Feed & Nutrition for Aquaculture Market
Global Commercial Aquaculture Vaccines Market
Why should buy this report:
- To receive a comprehensive analysis of the prospects for the global IoT for fisheries and aquaculture market
- To receive an industry overview and future trends of the IoT for fisheries and aquaculture market
- To analyze the global IoT for fisheries and aquaculture market drivers and challenges
- To get information on the global IoT for fisheries and aquaculture market size (Value US$ Mn) forecast to 2030
- To get insights on investments, mergers & acquisitions in the global IoT for fisheries and aquaculture market industry
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