New York, United States , May 29, 2024 (GLOBE NEWSWIRE) -- The Global Plant Phenotyping Market Size is to Grow from USD 261.7 Million in 2023 to USD 790.5 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 11.69% during the projected period.
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The technique of measuring and characterizing several physical and physiological traits of plants, such as their size, shape, color, and structural constituents, is known as plant phenotyping. The entire set of the plant's phenotypic characteristics, or its phenome, consists of these traits. To precisely and objectively quantify these characteristics is the aim of plant phenotyping. The use of automated methods and advanced technology is growing in the study of plant responses to their environment. Sensors detect the effects of their surroundings on plants and their responses. Due to methods such as image analysis, canopy studies, and fluorometer use, plant phenotyping has become less invasive, more accurate, and faster. Additionally, there is a rise in the need for efficient plant phenotyping methods as agriculture gets more data-powered. Farmers and researchers now gather exact and comprehensive data on plant traits, growth patterns, and responses to environmental conditions through these technologies. The growing usage of plant phenotyping to address water-induced stress is one of the key reasons expected to propel the growth of the worldwide plant phenotyping market. The demand for high-yielding crops to meet the goals of food security is rising due to the increasing population, which is boosting the global plant phenotyping market. However, the adoption and use of plant phenotyping technologies can be significantly hampered by the high initial investment costs involved, particularly for small-scale research institutes, agricultural organizations, and farmers with limited financial resources.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Plant Phenotyping Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Equipment, Software, Sensors, and Others), By Application (Plant Research, Breeding, Product Development, and Quality Assessment), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The equipment segment is anticipated to hold a significant share of the global plant phenotyping market during the projected timeframe.
Based on the product type, the global plant phenotyping market is divided into equipment, software, sensors, and others. Among these, the equipment segment is anticipated to hold a significant share of the global plant phenotyping market during the projected timeframe. The equipment segment is expanding due to researchers and plant breeding firms regularly using imaging technologies to phenotype plants.
The quality assessment segment is anticipated to contribute the largest revenue share of the global plant phenotyping market during the projected time frame.
Based on the application, the global plant phenotyping market is divided into Plant Research, Breeding, Product Development, and Quality Assessment. Among these, the quality assessment segment is anticipated to contribute the largest revenue share of the global plant phenotyping market during the projected time frame. Extensive agricultural fields and plants are increasingly being monitored by remote sensing technologies, such as drones equipped with quality assessment sensors.
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Europe is expected to hold the largest share of the global plant phenotyping market over the forecast period.
Europe is expected to hold the largest share of the global plant phenotyping market over the forecast period. The recognized research institutes and development-oriented agricultural organizations in this region have provided it with a significant market presence. Techniques for plant phenotyping are encouraged by the area's focus on sustainable farming and precision agriculture. Governments and other important market participants have been investing more in plant phenotyping experiments, which contributed to the dominance of the European region. A strong network of academic centres and research facilities specializing in plant biology and agriculture is also present in Europe, along with a well-established infrastructure for scientific inquiry and cooperation. These elements support Europe's lead in promoting expansion and innovation in the plant phenotyping systems market, establishing the region as an important centre for the industry's adoption and development of new technologies.
North America is predicted to grow at the fastest pace in the global plant phenotyping market during the projected timeframe. Numerous research organizations and agricultural firms raising demand for the global plant phenotyping market. Furthermore, the rising trend of precision farming or agriculture increases the demand for plant phenotyping technology.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market 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. Major vendors in the Global Plant Phenotyping Market are BASF SE, Phenospex, WIWAM1, Lemnatec Corporation, Plant-DiTech, Hiphen, Delta-T Devices Ltd., Phenomix, Keygene, Qubit Systems, WPS B.V., Photon Systems Instruments, Vienna Biocenter, Heinz Walz Gmbh, and CropDesign., and Others Key Players.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global plant phenotyping Market based on the below-mentioned segments:
Global Plant Phenotyping Market, By Type
- Equipment
- Software
- Sensors
- Others
Global Plant Phenotyping Market, By Application
- Plant Research
- Breeding
- Product Development
- Quality Assessment
Global Plant Phenotyping Market, Regional Analysis
- 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
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