Increasing development in the agriculture field for improved crop varieties is expected to drive the growth of global Plant Phenotyping in the forecast period 2024-2028. According to the TechSci Research report, “Plant Phenotyping Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the global Plant Phenotyping market is anticipated to grow at an impressive rate in the forecast period 2024-2028. This can be ascribed to the increasing demand for plant-based food and growing agriculture expenditure across the globe. Similarly, growing product launches and approvals enhance the demand for the plant phenotyping market in the forecasted period.
The Important Aspects of the Plant Phenotyping Market
Also, increasing inorganic strategies such as partnerships, collaborations, and others will further boost the market growth over the years. Additionally, an increasing number of research and development activities for improving the effectiveness of plant phenotyping are anticipated to boost the growth of the plant phenotyping market over the years. Additionally, increasing investments made by the market players for expansion of their facilities such as the breeding center for cucumbers for assessment of physical and chemical traits of cucumbers are further propelling the growth of the market in the forecast period.
However, a lack of technical awareness about advanced plant phenotyping may hamper the market in the forecast period. Similarly, less availability of skilled labor and a lack of agricultural infrastructure in developing and underdeveloped regions may restrain the growth of the market during the forecasted period. Also, the high cost of agriculture equipment may hamper the plants phenotyping market growth during the forecast period.
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The Global Plant Phenotyping market can be segmented by product, equipment, software, sensor, service, and by region.
Based on Product Type, the global Plant Phenotyping market can be segmented into Equipment, Software, and Sensors. The software segment is expected to dominate the market in 2022 and will continue maintaining its dominance throughout the forecast period. Increasing demand for advanced systems and platforms to analyze plant physiology and characteristics from plant breeders is expected to further enhance the demand for the plants phenotyping market during the forecast period. Also, the rapidly growing greenhouse demand and high phenotyping platforms will propel the growth of the market over the years.
Based on Service, the market can be segmented into Measurement Acquisition Data Analysis and Statistical analysis. The measurement acquisition segment is expected to dominate the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. Increasing demand for crop management activities and effectively measuring the bio-stimulant effect and effect of microbes on plant development are further expected to drive the growth of the market during the forecasted period.
Major companies operating in the global Plant Phenotyping market are:
- LemnaTec GmbH
- DeltaT devises ltd
- Heinz Walz Gmbh.
- Phenospex B.V.
- Keygen N.V.
- Phenomix Corporation
- Cropdesign (BASF SE)
- Qubit Systems Inc.
- Photon Systems Instruments, spol, s.r.o.
- WPA B.V.
For instance, on October 1, 2020, KeyGene, an agribiotech company, collaborated with Tierra Seed Science, an Indian research-based seed company to develop premium quality rice with the help of advanced breeding selection techniques such as plant phenotyping.
For instance, in November 2018, Badische Anilin- und Sodafabrik (BASF), a German chemical manufacturer, invested around 50 million Euro (US$ 59 million) to open a new 2.5-hectare breeding center for cucumbers in Nunhem.
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“North America is expected to dominate and register the highest growth in the global Plant Phenotyping market due to the increasing initiatives being undertaken by the key players and growing bodies residing across this region for the development of advanced technologies. Similarly, initiatives like the establishment of associations of scientists and researchers are further expected to drive the growth of the market during the forecast period. Additionally, the growing adoption of automation and technological advancements in imaging sensor applications for data collection is expected to drive the growth of the market in the forecasted years. Furthermore, increasing research activities in the agricultural field due to the growing demand for how genetics, epigenetics, environmental pressures, and crop management effects are further contributing to the demand for plant phenotyping and further expected to support the market growth. Additionally, the growing world population has led to an increase in demand of food, thereby, creating lucrative opportunities for market growth”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Plant Phenotyping Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product (Equipment, Software, Sensors), By Equipment (Site, Platform, Level of Automation, Analysis system), By Software (Image Analysis, Data Acquisition, System Control, Other Software), By Sensor (Image Sensors, NDVI Sensors, Temperature Sensors, Other Sensors), By Service (Measurement Acquisition and data analysis, Statistical analysis) and By Region”, has evaluated the future growth potential of global Plant Phenotyping market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Plant Phenotyping market.
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