The plant phenotyping market was valued at US$181.573 million in 2018 and is projected to expand at a CAGR of 9.71% over the forecast period to reach US$316.612 million by 2024. Plant Phenotyping refers to the quantitative description of the plant’s physiological properties. The rising focus on sustainable crop production is expected to be a key factor driving the market for plant phenotyping. Further, rising adoption of automation techniques for plant growth is anticipated to fuel the market for plant phenotyping in the near future. However, lack of awareness and insufficiency of professionals to operate these systems along with high costs associated with plant phenotyping is expected to hamper the market from growing to its full potential. But, rising technological advancements coupled with increased research and development activities for sustainable and efficient crop production techniques is projected to widen up the growth opportunities for plant phenotyping market in the coming years. The market has been segmented by component, end use and geography. In the component segment, hardware is expected to hold a significant market share on account of the rising demand for drones and other systems for assessment of plants characteristics. Geographically, North America is projected to hold a substantial share in the market on account of early adoption of new technology. Europe and Asia Pacific are expected to grow at significant rate on account of presence of major players and rising government support in the form of subsidiaries respectively.
Rising adoption of automation in agricultural sector.
Growing awareness regarding substantial crop production.
Lack of awareness.
High cost of phenotyping systems.
The major players profiled in the plant phenotyping market include Phenospex, Delta-T Devices Ltd., Keygene, Heinz Walz Gmbh, Qubit Systems, Lemnatec Corporation, Vienna Biocenter, WIWAM, Photon Systems Instruments, Phenomix, and WPS B.V.
The Plant Phenotyping market has been analyzed through the following segments:
By End Use
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What is the size of global plant phenotyping market?
A1. Plant Phenotyping market was valued at US$181.573 million in 2018.
Q2. What will be the plant phenotyping market size by 2024?
A2. The plant phenotyping market is projected to reach a total market size of US$316.612 million by 2024.
Q3. What are the growth prospects for plant phenotyping market?
A3. The plant phenotyping market is projected to expand at a CAGR of 9.71% over the forecast period.
Q4. What factors are anticipated to drive the plant phenotyping market growth?
A4. The rising focus on sustainable crop production is expected to be a key factor driving the market for plant phenotyping.
Q5. Which region holds the largest market share in the plant phenotyping market?
A5. North America is projected to hold a substantial share in the market on account of the early adoption of new technology.