The advantages of obtaining accurate qualitative and quantitative measurements using plant phenotyping technologies are the key reasons contributing to the growth of this market, globally. Plant phenotyping technologies are likely to gain traction in agricultural research and plant breeding programs and prove to be an important tool for agriculture companies, research organizations, and academic institutions focused on analyzing the environmental and genetic factors impacting the physical factors in plants. The plant phenotyping market is projected to reach USD 268.1 million by 2023, at a CAGR of 11.14% from 2018.
Automation and significant advancements in the application of imaging sensors for high-throughput data collection, growing importance of sustainable crop production using improved crop varieties, and increasing expansions and investments in plant phenotyping in developed regions are the factors expected to play a significant role in the growth of the plant phenotyping market. However, the lack of technical and conceptual awareness of the plant phenotyping process serves as a restraint for the growth of the market.
To know about the assumptions considered for the study download the pdf brochure
The concept of using drones as a plant phenotyping platform is likely to witness a positive trend in terms of identification of different plant characteristics, morphology, and physiology. This platform type is projected to grow at a higher rate, as it has high demand in countries with limited manpower. Among all platform/carrier types, conveyor-based or modular systems are widely used as they have multiple functionalities when it comes to application and can also be easily integrated with additional accessories such as sensors and/or software.
In terms of services, the statistical analysis segment is projected to grow at a higher rate from 2018 to 2023. The increasing need for making sense of the quantitative data acquired in abundance is likely to have a positive effect on the services market for plant phenotyping. This is due to the need for the generation of highly reliable data and rising interest of plant breeders for this service.
Asia Pacific is projected to be the fastest-growing region in the plant phenotyping market from 2018 to 2023. The region has a higher demand for food and feed to meet the challenges of the ever-growing population. Owing to the increasing research activities in the Australian market for plant phenotyping, the region is expected to witness a rise in the overall plant phenotyping market in the coming years. Multinational companies are also focusing on marketing their products and services of plant phenotyping in these regions, through collaborations and networks to increase awareness among plant-based science research communities. There is an urgent need to develop/design plants in this region that can tolerate stress related to the changing climatic conditions along with providing higher biomass yield for feeding the population.