Plant Phenotyping Market is estimated to grow $268.1 Million by 2023
The plant phenotyping market is mainly driven by the growing importance of sustainable crop production among farmers by using improved crop varieties.
[USPRwire, Thu Oct 04 2018] The report "Plant Phenotyping Market by Product (Equipment (Site, Platform/Carrier, Application, Analysis System, Automation Level), Sensor (Image Sensors, NDVI Sensors, Temperature Sensors), and Software), Service, and Region - Global Forecast to 2023" The plant phenotyping market is estimated to be USD 158.2 million in 2018 and is projected to reach USD 268.1 million by 2023, at a CAGR of 11.14%. The market growth is driven by factors such as the growing demand for sustainable crop production using improved crop varieties and significant advancements in imaging sensors.
Browse 95 market data Tables and 28 Figures spread through 150 Pages and in-depth TOC on "Plant Phenotyping Market - Global Forecast to 2023"
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“The plant phenotyping market is projected to grow at a CAGR of 11.14% during the forecast period.”
The plant phenotyping market is projected to reach USD 268.1 million by 2023, from USD 158.2 million in 2018, at a CAGR of 11.14%. The market is projected to grow at a steady rate due to significant advancements in the technologies for high-throughput screening, rising importance for sustainable crop production using improved crop varieties, and growing investments in plant phenotyping research in developed regions. The major factors hindering the growth of the plant phenotyping market are the lack of technical and conceptual awareness and lesser adoption in emerging economies due to lack of funds.
“The plant phenotyping services segment is projected to grow strongly from 2018 to 2023.”
Services are a crucial part of the plant phenotyping industry as there is an increasing trend of commercial plant breeders and plant-based science research companies opting for plant phenotyping services. In addition, there have been collaborations between plant phenotyping companies for the integration of analysis equipment and parameters to recreate an ideal environment for plant phenotyping. For instance, LemnaTec (Germany), which is a leader in plant phenotyping systems, collaborated with Conviron (Canada) to develop a new generation of plant phenomic platforms that would integrate LemnaTec Scanlyzer3D technology with Conviron's expertise in controlled environments.
“Among products, the plant phenotyping equipment segment is estimated to dominate the market in 2018.”
For carrying out the processes of plant phenotyping, whether as a plant phenotyping service provider or a professional plant breeder or plant science research company, it requires the procurement of the plant phenotyping equipment (which may/may not come as a complete package along with its own software/sensors) in the industry. Therefore, the other add-on elements of plant phenotyping products such as software and sensors can be integrated as and when required into the equipment. Therefore, equipment holds a larger share among plant phenotyping products, which also includes software and sensors. The equipment segment is further studied on the basis of equipment site, platform/carrier, automation level, application, and analysis system.
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“Asia Pacific is projected to be the fastest-growing market for plant phenotyping through 2023”
The market for plant phenotyping in the Asia Pacific region is projected to grow at the highest CAGR from 2018 to 2023. Government and public initiatives of plant phenotyping networks in various countries, through symposiums and events, have helped to gain awareness among the plant research community in the Asia Pacific region.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It also includes the profiles of key companies such as LemnaTec (Germany), Delta-T Devices (UK), CropDesign - BASF SE (Germany), Heinz Walz (Germany), Phenospex (Netherlands), WPS (Netherlands), Photon Systems Instruments (Czech Republic), Qubit Systems (Canada), KeyGene (Netherlands), Rothamsted Research (UK), The Vienna Biocenter Core Facilities (Austria), and Phenomix (France).
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