NEWARK, Del, June 27, 2023 (GLOBE NEWSWIRE) -- The global plant phenotyping market is anticipated to reach a valuation of US$ 175.9 million in 2023, driven by favorable government initiatives. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 11.0% between 2023 and 2033, and reaching a total valuation of approximately US$ 497.4 million by 2033.
One of the primary factors driving the growth of the plant phenotyping market is the industry collaboration and partnerships between industry players, research institutions, and technology providers. Industry partnerships facilitate the development of integrated phenotyping solutions that combine hardware, software, and analytics capabilities.
Collaborative efforts between technology companies, equipment manufacturers, and research organizations result in innovative and user-friendly phenotyping platforms. The collaborations accelerate the adoption of plant phenotyping technologies and foster the development of tailored solutions for specific crops and farming systems.
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Plant phenotyping plays a crucial role in breeding programs, enabling the identification and selection of desired plant traits for crop improvement. The integration of phenotypic data with genomics and molecular breeding techniques allows for the development of superior crop varieties with enhanced yield, disease resistance, and quality attributes. Plant phenotyping technologies facilitate the screening of large populations and expedite the breeding cycle, reducing the time and cost involved in phenotyping.
Growing demand for high-throughput phenotyping, is another factor that is expected to have a significant impact on the market growth. High-throughput phenotyping enables the rapid and simultaneous analysis of large plant populations, providing valuable insights into genetic variation, trait inheritance, and plant-environment interactions. The demand for high-throughput phenotyping solutions is increasing as researchers and breeders seek efficient and scalable methods for phenotypic data collection. Advanced automation technologies, robotics, and imaging systems are facilitating high-throughput phenotyping, driving market growth.
Another factor contributing to the market growth is the rising focus on plant stress tolerance and resilience. Climate change, environmental pressures, and changing agricultural practices have increased the need for plants with enhanced stress tolerance and resilience. Plant phenotyping plays a crucial role in identifying stress factors, understanding plant responses, and developing stress-tolerant varieties. The ability to accurately measure and quantify stress-related traits such as drought tolerance, heat tolerance, disease resistance, and nutrient efficiency contributes to the adoption of plant phenotyping technologies.
The integration of phenotypic data with genomics, molecular breeding, and marker-assisted selection is driving the adoption of plant phenotyping in breeding programs. Phenotypic data provides valuable insights into the genotype-phenotype relationship, enabling breeders to identify genetic markers associated with desired traits. The combination of phenotyping and genomics facilitates precision breeding, accelerating the development of improved crop varieties with targeted traits.
Key Takeaways:
- Global plant phenotyping market was valued at US$ 156.5 million by 2022 to end.
- plant phenotyping Market From 2018 to 2022, the market demand expanded at a CAGR of 6.1%.
- North America is expected to hold a dominant CAGR of 10.9% during the forecast period.
- By Equipment, the imaging systems segment is expected to constitute a CAGR of 10.8% in 2033.
- On the basis of Software, data management & integration software segment is expected to dominate the market with a CAGR of 10.7% in 2033.
- From 2023 to 2033, plant phenotyping market is expected to flourish at a CAGR of 11.0%.
- By 2033, the market value of plant phenotyping is expected to reach US$ 497.4 million.
Adoption of Internet of Things (IoT) and sensor technologies, across the globe is a major factor that is expected to propel the growth of the plant phenotyping market in the near future, remarks an FMI analyst.
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Competitive Landscape:
Prominent players in the plant phenotyping market are are LemnaTec GmbH, Qubit Systems Inc., Phenospex B.V., Keygene N.V., Rothamsted Research, CropDesign (a BASF company), Lemnatec Corp., Phenomix AG, PSI - Plant Phenotyping and Imaging Research Centre, and Heinz Walz GmbH, among others.
Recent Developments:
- In 2022, Heinz Walz launched the Heinz Walz PHENOTEC 3D. The PHENOTEC 3D is a 3D phenotyping system that can be used to measure plant traits such as height, width, and leaf area.
- In the same year, LemnaTec launched the LemnaTec Delta-T FieldSpec® X4 portable phenotyping system. The system is an upgraded version of the Delta-T FieldSpec® X3 system and includes new features such as a higher-resolution camera and a wider range of sensors.
- In 2022, Phenomix partnered with the University of California, Davis to develop new phenotyping technologies for the wine industry. The partnership will focus on developing technologies that can be used to improve the quality of wine grapes.
- Rothamsted Research launched the Rothamsted Research Phenotyping Platform in 2022. The platform is a hardware and software solution that helps researchers to collect, manage, and analyze plant phenotyping data.
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global plant phenotyping market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the plant phenotyping market, the market is segmented on the basis of equipment (growth chambers/phytotrons, imaging systems, robotics and automation, and phenomobiles), by software (imaging analysis software, data management & integration software, and statistical analysis and modeling software), by sensors (environmental sensors, physiological sensors, and spectral sensors), across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
Key Segments Profiled:
By Equipment:
- Growth Chambers/Phytotrons
- Imaging Systems
- Robotics and Automation
- Phenomobiles
By Software:
- Imaging Analysis Software
- Data Management & Integration Software
- Statistical Analysis and Modeling Software
By Sensors:
- Environmental Sensors
- Physiological Sensors
- Spectral Sensors
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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Table of Content (ToC):
1. Executive Summary | Plant Phenotyping Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Equipment
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Equipment, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Equipment, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Equipment, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Equipment, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Software
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Software, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Software, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By Software, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Software, 2023 to 2033
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