A recent report published by Infinium Global Research on plant phenotyping market provides in-depth analysis of segments and sub-segments in the global as well as regional plant phenotyping market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional plant phenotyping market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global plant phenotyping market. According to the report, the global plant phenotyping market is projected to grow at a CAGR of 6.8% over the forecast period of 2018-2024.
Plant phenotyping is the quantitative assessment of complex plant traits. It has a wide range of application in plant research, product development, breeding, and quality assessments. Breeders, developers, and researchers work strenuously at biochemical levels to improve management processes and plant cultivars. There are a variety of imaging approaches are being used to collect data for quantitative studies of complex traits related to the yield, development, and adaptation to biotic stress. Their imaging technique includes imaging spectroscopy, thermal infrared imaging, fluorescence imaging, visible imaging, tomographic imaging, and 3D imaging.
The growth of plant phenotyping market is driven by the increasing importance of sustainable crop production among the farmers. Moreover, the demand for agriculture is enhancing due to rapid growth in population. There is an expanding need to grow high-yielding crops to meet global food needs. Moreover, growing investment by government and private agriculture organization in order to produce better outputs especially in developed economies is another factor responsible for the growth of plant phenotyping market. Apart from this, the implementation of precision irrigation is also escalating the growth of this market during the forecast period. However, less adoption rate of plant phenotyping in developing economies owing to limited funding and less presence of manufacturers could restrain the growth of the market. Furthermore, the introduction of remote sensing tools and rise in research and development activities is anticipated offers lucrative opportunities for market growth in the coming years. The technological advancements in plant phenotyping solutions are expected to create opportunities for the plant phenotyping market.
Among the geographies, the global plant phenotyping market is categorized into North America, Europe, Asia Pacific, and RoW. Europe dominates the plant phenotyping market throughout the forecast period. The factors such presence of leading players, increasing partnerships among companies, and research institutions in the form of plant phenotyping programs, networks have a positive impact on the growth of the market in the European region. Moreover, the network includes projects such as the International Plant Phenotyping Network, Deutsche Pflanzen Phänotypisierungs Netzwerk (DPPN), UK Plant Phenomics Network, and Phenome French Plant Phenotyping Network (FPPN). North America is anticipated to the fastest rate during the forecast period.
The report on global plant phenotyping market covers segments such as component, level of automation, application, and end user. On the basis of the component, the sub-markets include hardware and software. On the basis of the level of automation, the sub-markets include manual, semi-automated, and fully automated. On the basis of application, the sub-markets include laboratory, greenhouse, and field. On the basis of the end user, the sub-markets include plant research, plant breeding, product development, and quality assessment.
The report provides profiles of the companies in the market such as BASF SE, PSI (Photon Systems Instruments), spol. s r.o., LemnaTec GmbH, Phenomix Corporation, Vienna Bio Center Errichtungs GmBH, WPS, Heinz Walz GmbH, Qubit Systems Inc., Phenospex BV, and Keygene N.V.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of plant phenotyping market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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