Increasing demand for pesticide-free food is expected to drive the growth of global Precision Pest Management in the forecast period, 2024-2028. According to the TechSci Research report, “Precision Pest Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global Precision Pest Management market is anticipated to grow at an impressive rate in the forecast period, 2024-2028.
The Important Aspects of the Precision Pest Management Market
This can be ascribed to the increasing demand for advanced technology for monitoring the crops, enhancing the quality of crops, and minimizing the negative impacts of pest control on resources such as soil, water, air, plant, and humans or animals across the globe. Also, the growing demand for eliminating pest problems while reducing environmental and human health hazards so different tools are used to identify and reduce pest infestations early on which is expected to drive the growth of the market during the forecasted period.
Similarly, the demand for enhancing the productivity of agricultural land along with enhancing the proclivity of farmers or land operators toward the integration of automation technology used in the agriculture sector is anticipated to boost the growth of the market in the forecasted period. Additionally, the growing demand for the identification of pet hotspots is expected to drive the growth of the market over the years. Besides, increasing research and development activities in the agriculture industry is further expected to support market growth.
However, the high initial capital investment for maintaining the management system can create affordability issues amongst farmers with lower incomes and may hamper the Precision Pest Management market in the forecast period. Similarly, a lack of awareness regarding the benefits of using new technology among farmers in underdeveloped and emerging economical countries along with illiteracy and unavailability of proper resources as well as monetary measures may hamper the Precision Pest Management market growth during the forecast period. Additionally, less feasible for small landowners for handling precision pest management may hamper the growth of the market.
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The global Precision Pest Management market can be segmented by technology, solution, application, application, and by region.
Based on Application, the global Precision Pest Management market can be divided into Area-Wide Pest Control and Site-Specific Pest Control. The area-Wide Pest Control segment is expected to dominate the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. Increasing demand for advanced technology for the benefit of crops along with increasing demand for preventing pest outbreaks at a larger spatial resolution where many agricultural plots are included will further enhance the demand for precision pest management market in the forecasted period.
Based on Technology, the market can be divided into Monitoring and Spraying. The spraying segment is expected to dominate the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. Increasing demand for adjusting the quantity of the crop protection substance applied in the agriculture field to attain the best results and leading to a large amount of expense savings and yield enhancement also growing food safety regulations are strict in different countries so low pesticide use makes precision spraying effectively at reducing toxic substances in food which will further drive the growth of the market in the forecasted period.
Major companies operating in the global Precision Pest Management market are:
- Precision Hawk, Inc.
- EOS Data Analytics, Inc.
- Deere & Company
- BASF SE
- AGRIVI Ltd.
- Kubota Corporation
- TeeJet Technologies LLC
- Yanmar Co. Ltd.
- SemiosBio Technologies Inc.
- Suterra LLC
- Topcon Precision Agriculture Pty. Ltd.
- FlyPard Analytics GmbH
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“North America is expected to dominate and register the highest growth in the global Precision Pest Management market on account due to the increasing demand for precision pest management in the region due to growing labor shortage in agriculture and rising input costs for precision pest management across the region. Furthermore, growing early adoption and vast acceptance of precision pest management in the region along with high technological advancements in the agriculture field will further contribute to the demand for precision pest management and are further expected to support the market growth. Additionally, huge support from the government authorities to develop new technology with farming land thereby creating lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Precision Pest Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Technology (Monitoring v/s Spraying), By Solution (Hardware, Software, Services), By Application (Area-Wide Pest Control v/s Site-Specific Pest Control) and By Region”, has evaluated the future growth potential of global Precision Pest Management market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Precision Pest Management market.
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