Global Precision Pest Management Market Report 2022 to 2027: Featuring BASF, AGRIVI, Kubota, TeeJet Technologies, Yanmar and Semios Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 22, 2022--
The “Precision Pest Management Market - A Global and Regional Analysis: Focus on Application, Product, and Country-Wise Analysis - Analysis and Forecast, 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global precision pest management market was valued at $1,748.4 million in 2021 and is expected to reach $4,396.3 million by 2027, following a CAGR of 16.43% during 2022-27.
Stringent food safety regulations coupled with increasing production with reduced production costs are expected to drive the precision pest management (PPM) market over the forecast period.
Recent Developments in the Global Precision Pest Management Market
- In September 2022, Trimble inked a contract to buy Bilberry, a firm that manufactures equipment for targeted weed spraying and is based in France.
- In March 2022, Deere & Company introduced See & Spray Ultimate. Farmers can spot-spray non-residual herbicide on weeds among corn, soybeans, and cotton using the factory-installed system. The technology underlying the green-on-green solution was developed by Blue River Technology, an artificial intelligence provider that Deere acquired in 2017.
- In December 2021, Kubota Corporation partnered with Bloomfield Robotics, which is a company that delivers plant growth monitoring services to tree crops. The company uses image analysis technology and artificial intelligence (AI) to assess plant growth and detect pests on the grape, blueberry, and other tree crops.
- In October 2021, Yanmar launched the YV01 autonomous spraying robot, which was developed in cooperation with European vineyards.
- Increasing Pesticide-Free Food Demand
- Substantial Cost Saving
- Rapid Adoption of Advanced Technologies in Agriculture
- Large Agrochemical Companies Integrating with Technology to Introduce the Products
- High Initial Capital Investment
- Lack of Awareness in Underdeveloped and Emerging Economies
- Less Feasible for Small Landowners
- Integration of Visual Technologies
- Internet Infrastructure Upgradation and 5G Services Launch
- EOS Data Analytics
- Deere & Company
- BASF SE
- Kubota Corporation
- TeeJet Technologies
- Yanmar Co. Ltd.
- FlyPard Analytics GmbH (GeoPard Agriculture)
- Trimble Inc.
- FMC Corporation
- Climate LLC
Segmentation 1: by Application
- Area-Wide Pest Control
- Site-Specific Pest Control
Based on application, the global precision pest management market is anticipated to be driven by area-wide pest control. Area-wide pest management is implemented to prevent pest outbreaks at a larger spatial resolution where many agricultural plots are included. Increasing horticulture areas in emerging economies are expected to drive the area-wide pest control demand over the forecast period.
Segmentation 2: by Technology
Based on technology, spraying dominates the precision pest management market and is projected to remain the largest segment over the forecast period. Precision spraying technology is about adjusting the quantity of crop protection substance application by field to attain the best results, leading to a large amount of expense savings and yield enhancement. Furthermore, food safety regulations are strict in many countries. Low pesticide use makes precision spraying effective at reducing toxic substances in foods.
Segmentation 3: by Solution
Hardware was the major solution segment in the precision pest management market in 2021, with a market share of over 55%. The rapid expansion of the precision pest management market is related to the increase in demand for sensors, auto steering, and variable rate spraying technologies. With the growing demand for precision pest management hardware, demand is also expected to grow with a significant CAGR over the forecast period.
Segmentation 4: by Region
- North America - U.S., Canada, and Mexico
- Europe - Germany, France, Spain, Italy, The Netherlands, Denmark, and Rest-of-Europe
- Asia-Pacific - India, Japan, Australia, South Korea, and Rest-of-Asia-Pacific
- Middle East and Africa - Israel and Rest-of-Middle East and Africa
- South America - Brazil, Argentina, Peru, and Rest-of-South America
North America generated the highest revenue, around $700 million, in 2021 and is expected to remain the largest region by 2027. Demand for precision pest management is increasing across North America due to a growing labor shortage in agriculture and rising input costs. One of the primary reasons for the early adoption and vast acceptance of PPM solutions in the North America region is the high technological advancements.
For more information about this report visit https://www.researchandmarkets.com/r/a6ee0n
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SOURCE: Research and Markets
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PUB: 12/22/2022 08:37 AM/DISC: 12/22/2022 08:38 AM