Northbrook, IL 60062 -- (SBWire) -- 11/29/2023 --According to a comprehensive research report titled "Plant Phenotyping Market" published by MarketsandMarkets, the global plant phenotyping market is anticipated to reach USD 437 million by 2027, with a robust CAGR of 12.9% during the forecast period. The market's growth is propelled by increasing investments and expansions in plant phenotyping, particularly in developed regions. Additionally, the rising significance of sustainable crop production using improved crop varieties is a major factor driving the market's expansion.
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Key Highlights:
Image Analysis Dominates:
The image analysis segment is poised to capture the largest share of the plant phenotyping market in 2022. These are standalone or additional accessories that enhance plant phenotyping equipment systems. The flexibility to integrate additional software and sensors according to end-user requirements contributes to the segment's prominence.
Regional Dynamics:
In 2021, Europe dominated the market with a share of 37.8%. The high emphasis on funding for plant phenotyping experiments from government and other organizations in Europe and North America has been instrumental in the market's growth. Furthermore, Asia Pacific is projected to exhibit the highest CAGR of 13.9% from 2022 to 2027, driven by strong demand for plant phenotyping products and services in developing countries. This demand is particularly fueled by the need to address challenges related to food, fuel, and feed demand for growing populations and to develop plants resilient to changing climatic conditions.
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Key Companies Driving Innovation:
Notable companies in the plant phenotyping market include manufacturers such as LemnaTec GmbH, Delta-T Devices Ltd., CropDesign - BASF SE, Heinz Walz GmbH, Phenospex B.V., WPS, Phenomix, Photon Systems Instruments, and Qubit Systems. Service providers, including KeyGene N.V., Rothamsted Research Limited, The Vienna Biocenter Core Facilities GmbH, and Equinom, play a crucial role in advancing plant phenotyping through continuous development of products and services based on advanced spectrometry and imagery techniques.
In summary, the plant phenotyping market's trajectory is characterized by increasing investments, technological advancements, and a growing emphasis on sustainable crop production, making it a dynamic and evolving sector with promising opportunities for the future.
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Insights Into the Growing Plant Phenotyping Market - Forecast and Trends
Plant Phenotyping Market by Product (Equipment (Site, Platform/Carrier, Application, Analysis Systems, Automation Level), Sensors (Image Sensors, NDVI Sensors, Temperature Sensors), and Software), Service, and Region - Global Forecast to 2027