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%

NEW YORK, Sept. 20, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05500085

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.
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.
The breakdown of the primaries on the basis of company type, designation, and region conducted during the research study, is as follows:
• By Company type: Tier 1 – 4%, Tier 2 –12%, and Tier 3 – 84%
• By Designation: C-Level – 20%, D-Level – 25%, and Others* – 55%
• By Region: Asia Pacific – 45%, North America –20%, Europe – 25%, and RoW -10%
*Others include sales managers, marketing managers, and product managers.
Note: Tier 1: Revenue >= USD 1 million; Tier 2: USD 100 million< Revenue< USD 1 million; Tier 3: Revenue =< USD 100 million

The global market for plant phenotyping includes key players such as LemnaTec (Germany), Delta-T Devices (UK), CropDesign - BASF SE (Germany), Heinz Walz (Germany), Qubit Systems (Qubit Phenomics) (Canada), and KeyGene (Netherlands). PHENOSPEX (Netherlands), WPS (Netherlands), Rothamsted Research (UK), The Vienna Biocenter Core Facilities (VBCF) (Austria), Photon Systems Instruments (Czech Republic), and Phenomix (France) are other players in the market.

Research Coverage
The report analyzes the plant phenotyping market across different functions and regions.It aims at estimating the market size and future growth potential of this market across different segments such as products, (equipment, software, sensors), services, and region.

Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall plant phenotyping market and its subsegments.This report will also help stakeholders to better understand the competitor landscape, gain more insights to position their businesses better, and devise suitable go-to-market strategies.

The report will also help stakeholders to understand the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p05500085

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