The Global Plant Phenotyping Market Growth Accelerated By High Adoption Rate Of Automated Phenotyping Systems
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Plant Phenotyping Market |
Plant phenotyping is the precise
measurement of plant traits and characteristics and encompasses visual
assessments as well as more advanced approaches such as image analysis and
spectroscopy. It enables breeders and researchers to rapidly evaluate plant
samples and select those with desired economic or quality traits. Plant
phenotyping supports various applications in breeding, biotechnology research
and precision agriculture. It helps in identifying stress and disease tolerance
traits in plants, allows targeted crop management and accelerates the
development of new crop varieties.
The global plant phenotyping
market is estimated to be valued at US$ 227.28 Mn in 2023 and is expected to
exhibit a CAGR of 2.4% over the forecast period 2023 to 2030, as highlighted in
a new report published by Coherent Market Insights.
Market Dynamics:
The increasing adoption of
precision farming practices by farmers and growers represents a major driver
for the plant phenotyping market. Precision farming relies on tools like
sensors, drones and imaging technology to gather field data and enable targeted
application of inputs. Plant phenotyping techniques support precision
agriculture initiatives by helping identify varietal responses to particular
soil and climatic conditions. This aids in choosing the most suitable crops and
optimizing field management.
Additionally, continuous
advancements in plant phenotyping platforms and solutions are further fueling
the market growth. Industry players are focusing on developing high throughput
field and indoor phenotyping systems integrated with machine learning and
artificial intelligence. Such innovative solutions allow processing large
volumes of plant phenotypic data quickly and extracting meaningful insights to
accelerate breeding programs.
SWOT Analysis
Strength: The plant phenotyping
market has strong growth opportunities due to rising demand for high-quality
crops. Crop monitoring solutions help farmers maximize yields and minimize
costs. Remote sensing and image analysis technologies provide accurate
phenotypic data for plant research.
Weakness: Initial costs of plant
phenotyping systems are high, limiting adoption rates. Data integration and
management pose technical challenges. Lack of standards limits interoperability
between device outputs.
Opportunity: Growth in precision
agriculture and controlled environment farming is expected to drive demand.
Adoption in developing countries can accelerate with subsidized financing.
Public-private research partnerships aim to develop accurate high-throughput
techniques.
Threats: Strict regulations may
delay product approvals. Competition from alternative agricultural practices
can divert investment. Slow uptake of new technologies in traditional farming
poses market threats. Economic slowdowns impact agribusiness investment cycles.
Key Takeaways
The Global
Plant Phenotyping Market Size is expected to witness high growth. The
global plant phenotyping market is estimated to be valued at US$ 227.28 Mn in
2023 and is expected to exhibit a CAGR of 2.4% over the forecast period 2023 to
2030.
Asia Pacific region is projected
to be the fastest growing market during the forecast period. Factors such as
the increasing population, rising food demand, government initiatives to boost
sustainable agriculture, and growing adoption of precision farming techniques
are expected to fuel the demand for plant phenotyping systems in the Asia
Pacific region.
Key players related content comprises Key players operating in the
plant phenotyping market are BIOTRONIK SE & Co.KG, Medtronic plc., Boston
Scientific Corporation, Abbott Laboratories, LivaNova plc., Osypka Medical
GmbH, and MEDICO S.p.A.
Get More Insights Here
https://www.newswirestats.com/plant-phenotyping-market-size-share-growth-outlook-2023/
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