Global IoT for Fisheries and Aquaculture Market Insights Forecasts to 2032

• The Global IoT for Fisheries and Aquaculture Market Size was valued at USD 468.17 Million in 2022.
• The Market is Growing at a CAGR of 12.1% from 2022 to 2032
• The Worldwide IoT for Fisheries and Aquaculture Market Size is expected to reach USD 1468.67 Million by 2032
• North America is expected to Grow the fastest during the forecast period.

 

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The Global IoT for Fisheries and Aquaculture Market Size is expected to reach USD 1468.67 Million by 2032, at a CAGR of 12.1% during the forecast period 2022 to 2032. The global IoT for fisheries and aquaculture market is a rapidly growing industry that combines the power of the Internet of Things (IoT) with the specific needs of the fishing and aquaculture industry. IoT technologies can be applied to many aspects of the industry, including monitoring water quality, tracking fish populations, and managing supply chains. The increasing number of aquaculture farms, product innovation, rising R&D investments, rapid adoption of advanced technologies, high demand for protein-rich aqua food, and increased government support for aquaculture infrastructure development can all drive the growth of the IoT for fisheries and aquaculture market.

 

Market Overview

The farming of aquatic organisms such as aquatic plants, crustaceans, mollusks, and fish is known as aquaculture. Aquaculture is the controlled cultivation of freshwater and saltwater populations, as opposed to commercial fishing, which is the harvesting of wild fish. In general, the relationship between aquaculture and finfish and shellfish fisheries is analogous to the relationship between agriculture and hunting and gathering. Mariculture is the practice of aquaculture in marine environments and underwater habitats. One of the main drivers of this market is the increasing demand for seafood, which is projected to continue growing in the coming years. This demand is placing pressure on the fishing and aquaculture industries to increase production, improve efficiency, and reduce waste. IoT technologies can help these industries meet these challenges by providing real-time data and insights that enable better decision-making. In addition, the market is the increasing availability and affordability of IoT devices and technologies. As these technologies become more accessible, more companies are able to implement them in their operations, leading to greater adoption and growth in the market. The market is also being driven by a growing awareness of the importance of sustainable fishing and aquaculture practices. IoT technologies can help companies monitor and manage their operations in a way that minimizes the impact on the environment and ensures long-term sustainability. Key players in the market include technology providers, equipment manufacturers, and service providers, who are all working to develop and implement new IoT solutions for the industry.

 

Report Coverage

This research report categorizes the market for the global IoT for fisheries and aquaculture market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the IoT for fisheries and aquaculture market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the IoT for fisheries and aquaculture market.

Driving Factors

As the world's population grows, correspondingly rises the demand for seafood. This puts pressure on the fishing and aquaculture industries to increase production and efficiency, which can be accomplished by utilising IoT technologies. IoT technologies can help fishing and aquaculture companies monitor their operations in real-time, enabling them to identify areas where they can improve efficiency and reduce waste. As IoT devices and technologies become more accessible and affordable, more companies are able to implement them in their operations, leading to greater adoption and growth in the market.

 

There is a growing awareness of the importance of sustainable fishing and aquaculture practices. IoT technologies can help companies monitor and manage their operations in a way that minimizes the impact on the environment and ensures long-term sustainability. Governments around the world are implementing regulations aimed at improving the sustainability of the fishing and aquaculture industries. IoT technologies can help companies comply with these regulations and demonstrate their commitment to sustainability.

 

Restraining Factors

The implementation of IoT technologies in the fishing and aquaculture industries can require a significant upfront investment, including the cost of devices, sensors, and other equipment, as well as the cost of installation and maintenance. Implementing and managing IoT technologies requires a high level of technical expertise, which may be lacking in some companies. This can make it difficult for these companies to fully realize the benefits of IoT technologies.

 

Many fishing and aquaculture operations take place in remote areas with limited internet connectivity. This can make it difficult to implement and use IoT technologies effectively. The use of IoT technologies in the fishing and aquaculture industries can generate large amounts of sensitive data, including information about fish populations, water quality, and supply chains. Ensuring the security and privacy of this data can be a challenge. Some companies may be resistant to implementing new technologies or changing their existing operations, particularly if they have been successful using traditional methods.

 

Market Segmentation

The Global IoT for Fisheries and Aquaculture Market share is classified into system type and farm type.

• The Precision fishing techniques segment is estimated to hold the largest share of global IoT for fisheries and aquaculture market during the forecast period.

Based on the system type, the global IoT for fisheries and aquaculture market is segmented into precision-fishing techniques, smart feeding systems, smart buoy technology, metocean data collection, underwater ROV systems, monitoring and control systems, and other system types. Among these, the precision fishing techniques segment is expected to hold the largest share of global IoT for fisheries and aquaculture market during the forecast period. The growth can be attributed due to the increasing demand for sustainable fishing practices, as well as the need for companies to improve their efficiency and reduce waste.

 

Precision fishing techniques involve the use of IoT technologies to improve the efficiency and accuracy of fishing operations, including the use of sensors to monitor fish populations, predict their movements, and optimize fishing gear and techniques. These techniques are designed to help fishermen and aquaculturists operate in a more efficient and sustainable way, while also improving the quality and safety of their catch. The main benefit of precision-fishing techniques is that they allow fishermen to target specific species of fish with greater accuracy. This can help to reduce bycatch and improve the overall sustainability of fishing operations.

 

• The RAS farms segment is anticipated to hold the largest share of the global IoT for fisheries and aquaculture market over the study period.

Based on the farm type, the global IoT for fisheries and aquaculture market is segmented into open aquaculture farms and RAS farms. Among these, the RAS farms segment is expected to hold the largest share of the global IoT for fisheries and aquaculture market during the projected period. The growth can be attributed due to the growing demand for sustainable and environmentally friendly fish farming practices, as well as the increasing need to conserve water resources. RAS farms can help to reduce water usage and waste, making them a more sustainable and efficient option for fish farming. RAS farms are closed-loop fish farming systems that recirculate water through a filtration system to maintain water quality and remove waste. These systems can be used to raise a variety of fish species, including salmon, tilapia, and shrimp. The use of IoT technologies in RAS farms can help to monitor water quality parameters such as temperature, pH, and dissolved oxygen levels. This can help to optimize the feeding and harvesting of fish, reduce water usage, and increase the overall efficiency of the farm.

 

Regional Segment Analysis of the Global IoT for Fisheries and Aquaculture Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

The Asia-Pacific region is estimated to hold the largest share of the global IoT for fisheries and aquaculture market during the predicted timeframe.

 

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The Asia-Pacific region is expected to hold the largest market share in the global IoT for fisheries and aquaculture market during the projected timeframe. The Asia-Pacific region is the largest market for IoT in fisheries and aquaculture, accounting for the majority of the global market share. The reason for the increase is the large and growing aquaculture industry in countries such as China, India, and Indonesia. These countries are major producers and consumers of fish and seafood products and are investing heavily in new technologies to improve the efficiency and sustainability of their operations.

 

North America is expected to grow at the fastest CAGR in the global IoT for fisheries and aquaculture market during the period of study, driven by the growing demand for sustainable and environmentally friendly fish farming practices in these regions. In North America, the demand for fish and seafood is increasing, particularly for species such as salmon and shrimp. Several IoT-based solutions are being developed and implemented in the North American region for various applications in the fisheries and aquaculture sectors. For instance, IoT-enabled sensors and monitoring systems are being used to track water quality, temperature, and other environmental factors that affect fish growth and survival. These sensors can also help in predicting and preventing disease outbreaks and improving feed management.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global IoT for fisheries and aquaculture ingredients along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• InnovaSea Systems
• AKVA group
• Steinsvik
• Aquaconnect
• Deep Trekker
• Delfers Business Solutions Pte. Ltd.
• Chetu Inc.
• UMITRON
• Andex
• Waziup e.V.
• Quadlink Technology Inc.
• Ambrotechs
• Optimar AS
• Ursalink
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In December 2022, Kerlink, GISupply has announced the launch of a customised aquaculture monitoring system that promotes sustainable seafood production while lowering farmer costs.

 

• In May 2022, Innovasea Unveils Tagless Fish Detection Technology that uses imaging sonar, optical cameras, and artificial intelligence to count fish and identify species in real time.

 

• In April 2022, Halma, a global consortium of life-saving technology companies, has acquired Deep Trekker Inc. Deep Trekker will continue to operate as a separate entity under Halma's leadership and will be integrated into the Environmental & Analysis sector.

 

• In June 2022, eFishery and AquaEasy signed a distribution partner agreement to implement an artificial intelligence (A.I.) solution supported by water quality internet of things (IoT) sensors. This multimillion-dollar collaboration aims to increase the productivity, financial success, and long-term viability of Indonesia's shrimp farming sector.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Global IoT for Fisheries and Aquaculture Market based on the below-mentioned segments:

 

Global IoT for Fisheries and Aquaculture Market, By System Type

• Precision-fishing Techniques
• Smart Feeding Systems
• Smart Buoy technology
• Metocean Data Collection
• Underwater ROV Systems
• Monitoring and Control Systems
• Other System Type

 

Global IoT for Fisheries and Aquaculture Market, By Farm Type

• Open Aquaculture Farms
• RAS Farms

 

Global IoT for Fisheries and Aquaculture Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa