Boost Your Yield and Resilience: Plant Phenotyping for Smarter Farming
The global plant phenotyping market is poised to reach USD 437 million by 2027, showcasing a robust CAGR of 12.9% during the forecast period. The surge in market value is attributed to increasing expansions and investments in plant phenotyping, particularly in developed regions. Additionally, the growing emphasis on sustainable crop production through improved crop varieties is a significant driver fueling the market's growth.
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Image Analysis Segment Dominates
The report highlights that the image analysis segment is anticipated to hold the largest share of the plant phenotyping market in 2022. These standalone or additional accessories can be integrated into plant phenotyping equipment systems. With rising demand for various applications, end users, such as service providers or research organizations, can integrate additional software and sensors based on their specific requirements.
Regional Dynamics - Europe Leads, Asia Pacific Grows Rapidly
As of 2021, Europe dominated the plant phenotyping market with a substantial share of 37.8%. The region's growth is attributed to the high emphasis on funding for plant phenotyping experiments from governmental and organizational sources in Europe and North America. In contrast, the Asia Pacific region is projected to experience the highest compound annual growth rate (CAGR) of 13.9% from 2022 to 2027. Developing countries in this region are witnessing a robust demand for plant phenotyping products and services, driven by the need to address challenges related to food, fuel, and feed for their growing populations, as well as to develop plants that can thrive in changing climatic conditions.
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Key Players Driving Innovation
The plant phenotyping market is characterized by key companies contributing to innovation in both product manufacturing and service provision. Notable manufacturers include LemnaTec GmbH, Delta-T Devices Ltd., CropDesign - BASF SE, Heinz Walz GmbH, Phenospex B.V., WPS, Phenomix, Photon Systems Instruments, and Qubit Systems. Additionally, service providers like KeyGene N.V., Rothamsted Research Limited, The Vienna Biocenter Core Facilities GmbH (VBCF), and Equinom are actively developing products and services, aligning with advanced theories based on spectrometry and imagery techniques.
In summary, the plant phenotyping market is experiencing substantial growth fueled by technological advancements, investments, and the global focus on sustainable agriculture practices. The competitive landscape is shaped by key players driving innovation in both product development and service offerings.
