The global precision aquaculture market size valued USD 407 million in 2021 and expected to reach USD 794 million by 2027, at a CAGR of 14.3% over the forecast period 2021-2027. Precision aquaculture aims to change the commercial aquaculture system by making it a knowledge-based production system. This system involves different software and hardware elements interrelated with each other. This technique is widely used in the fish production hence augmenting the ability of farmer to monitor, control and analyze the biological processes of fish farming. Using precision aquaculture has a number of advantages such as providing reliable decision support and improving accuracy. Sensors of this system such as biological, acoustic and optical sensors are broadly utilized for obtaining insights into the farm environment and consequently improve the fish health and obtain great returns. Using precision aquaculture has several advantages such as in facilitating independent and constant monitoring, reliable decision support, faring operating repeatability and augmenting accuracy. In addition, use of precision aquaculture system enhances the staff safety by reducing the reliance on physical operations. It is forecasted that aquaculture is estimated to supply almost 62% of fish till 2030 for human consumption. Consequently there is an increasing demand for aquaculture in the global market. It also creates a number of crucial growth opportunities for the key players of precision aquaculture market.
In Sept 2020, Bluegrove acquired SEALAB. SEALAB’s underwater light and camera vision technology will be combined with Bluegrove subsidiary CageEye’s acoustic underwater sensor technology. The new Bluegrove solution paves the door for individual fish monitoring, in response to society’s increased awareness of fish health and welfare from the perspectives of consumers, insurers, and governments.
In Mar 2019, Innovasea Systems acquired Nortek Akvakultur of Norway. Innovasea and Nortek Akvakultur will combine their technology to allow current Nortek Akvakultur installations to incorporate Realtime Aquaculture underwater wireless environmental sensors.