Plant Phenotyping Market Worth $268.1 Million by 2023
PUNE, India, August 31, 2018 /PRNewswire/ --
According to a new market research 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", published by MarketsandMarkets™, the 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.
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Among platform/carrier types, the application of drones for plant phenotyping is projected to be the fastest-growing during the forecast period.
Different types of plant phenotyping equipment include conveyor-based/modular systems, bench-based systems, portable/handheld systems, and drones. Conveyor-based systems are mostly preferred by plant breeders as there is a high demand for high-throughput phenotyping systems. The use of drones is projected to grow in the future as they have high demand in countries with limited manpower and higher ease in the procurement of data.
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Among different phenotyping products, the software segment is projected to be the fastest-growing during the forecast period.
Flexible and extendable computational tools are required to address the diversity of plant phenotyping problems. Thus, the demand for software tools is projected to grow at a higher CAGR during the forecast period as they help to measure and provide reliable data about plant traits in a non-destructive manner through image analysis, data acquisition, and system controls.
Europe is projected to dominate the Plant Phenotyping Market through 2023.
The European region is estimated to account for the largest share in 2018 due to the strong presence of players such as LemnaTec (Germany), CropDesign - BASF SE (Germany), Heinz Walz (Germany), KeyGene (Netherlands), and Rothamsted Research (UK), which provide quality services to meet the research requirements of plant breeders. Moreover, increasing collaborations among companies and research institutions in the form of plant phenotyping initiatives, programs, networks, and consortiums have helped the region to remain competitive in the Plant Phenotyping Market.
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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