by The Plant Phenotyping Market is estimated to be valued at US$ 183.8 Mn in 2021 and is expected to exhibit a CAGR of 11.2% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Plant phenotyping is a technique used to understand the physical and biochemical characteristics of plants. It helps in determining the response of plants to different environmental conditions, nutrients, and diseases. This technique is gaining traction in agriculture research and breeding programs to develop high-yielding crops with desirable traits. The increasing demand for sustainable agriculture practices and the need to improve crop productivity are driving the adoption of plant phenotyping solutions. The market offers various imaging technologies, such as hyperspectral imaging, chlorophyll fluorescence imaging, and thermal imaging, which enable researchers to analyze plant traits accurately, leading to enhanced crop yields.
Market Dynamics:
The plant phenotyping market is driven by two key factors. Firstly, the increasing demand for high-yielding crops due to population growth and food security concerns is boosting the adoption of plant phenotyping solutions. By understanding and analyzing plant traits, researchers can develop crops that are resistant to diseases, have higher nutritional value, and optimal growth characteristics. Secondly, advancements in imaging technologies, such as hyperspectral imaging and 3D laser scanning, are enabling researchers to capture detailed plant data more efficiently. These technologies provide high-resolution images, allowing scientists to analyze plant characteristics in a non-invasive and non-destructive manner. Thus, these developments are driving the growth of the plant phenotyping market.
Segment Analysis:
The plant phenotyping market can be segmented based on type, technology, and application. In terms of type, the market is divided into equipment and software. The equipment segment dominates the market as it includes a wide range of tools and devices used for plant phenotyping, such as imaging systems, sensors, drones, and robotics. Equipment plays a vital role in accurately measuring plant traits and collecting data efficiently, hence it is the dominating sub-segment.
PEST Analysis:
Political: The political stability of a country has a significant impact on the plant phenotyping market. Government regulations and policies concerning agricultural research and development can either promote or hinder the growth of the market.
Economic: The economic factors affecting the market include the level of investment in agricultural research, disposable income of farmers, and availability of funds for adopting advanced plant phenotyping technologies.
Social: The social factors influencing the market are increasing global population, changing dietary preferences, and the growing need for sustainable agriculture. These factors drive the demand for advanced plant phenotyping solutions to enhance crop productivity and meet the food requirements of the growing population.
Technological: Technological advancements in imaging systems, analytics software, and automation are driving the growth of the plant phenotyping market. These advancements enable researchers to accurately measure and analyze plant traits, leading to improved crop breeding and better agricultural practices.
Key Takeaways:
The global Plant Phenotyping Market Trend is expected to witness high growth, exhibiting a CAGR of 11.2% over the forecast period, due to increasing demand for improved crop yields and sustainable agriculture practices. The equipment segment dominates the market as it includes a wide range of tools and devices used for plant phenotyping.
In terms of regional analysis, North America is the fastest-growing and dominating region in the plant phenotyping market. The presence of major agricultural research institutes, advanced technology infrastructure, and government initiatives to promote precision agriculture contribute to the growth of this region.
Key players operating in the plant phenotyping market include BASF SE, Phenospex, WIWAM, Lemnatec Corporation, Plant-DiTech, Hiphen, Delta-T Devices Ltd., Phenomix, Keygene, Qubit Systems, WPS B.V., Photon Systems Instruments, Vienna Biocenter, Heinz Walz Gmbh, CropDesign, and Rothamsted Research. These players focus on technological advancements and collaborations to expand their product portfolios and gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
