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Global Plant Phenotyping Market, by Product Type (Equipment, Software {Data Acquisition, Image Analysis, System Control, and Others}, and Sensors {Image Sensors, NDVI Sensors, Temperature Sensors, and Others}), by Platform/Carrier type (Conveyor-Based/Modular Systems, Bench-Based Systems, Handheld/Portable Systems, and Drones), by Automation Type (Fully Automated, Semi-Automated, and Manual), by Analysis System Type (Image Analysis Systems, Multispectral Scientific Cameras, Canopy Analysis Systems, Fluorometers, and Others), by Application (High-Throughput Screening, Trait Identification, Photosynthetic Performance, Morphology and Growth Assessment, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 183.8 million in 2021, and is expected to exhibit a CAGR of 11.2% during the forecast period (2021-2028).

Rising investments by governments in the field of agriculture to boost research and development activities of agriculture related biotechnology companies, is expected to drive growth of the global plant phenotyping market during the forecast period. For instance, Austrian government announced an investment of 60 million Euro (US$ 71 million) in core facilities of Vienna BioCenter, a research based biotechnology company, in order to boost research activities and infrastructure.

Market players are engaged in inorganic activities such as acquisitions and mergers of companies, which is expected to drive growth of the plant phenotyping market. For instance, in May 2018, Crystal Crop Protection Limited, an Indian seed company signed a Letter of Intent (LOI) with Keygene, a European biotechnology company, to expand their seed business portfolio. Advanced phenotyping technologies provided by Keygene would enable Crystal Crop to improve the quality of seeds and monitor growth of stress resistant varieties of seed.

Global Plant Phenotyping Market - Impact of Coronavirus (COVID – 19) Pandemic

COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 177 million cases and 3.8 million deaths due to coronavirus disease (COVID-19) has been reported till June 20, 2021, across the globe.

The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the demand and supply in global plant phenotyping market. The COVID-19 pandemic has affected the demand and supply of plant phenotyping market in three main ways; by directly affecting the production and demand of agricultural equipment; by creating disruptions in distribution channels of agricultural products; and by its financial impact on firms and financial markets. Since, plant phenotyping is a widely used technique in agriculture, any interruption in agricultural activities is expected to hinder the plant phenotyping market. Disruptions in supply and logistics chain and less availability of man power due to nationwide lockdown is expected to hamper the growth of plant phenotyping market during the pandemic.

Thus, COVID-19 pandemic is expected to have a negative impact on the growth of plant phenotypic market over the forecast period owing to disruption of agricultural activities due to restricted movement. According to an article published by Science Direct in August 2020, small- and medium-sized farming systems were affected by COVID-19 pandemic to a huge extent as compared to large-scaled farming systems. Restricted mobility and price fluctuation resulted in huge losses incurred by the farming sector.

Browse 39 Market Data Tables and 28 Figures spread through 163 Pages and in-depth TOC on Global Plant Phenotyping Market, by Product Type (Equipment, Software {Data Acquisition, Image Analysis, System Control, and Others}, and Sensors {Image Sensors, NDVI Sensors, Temperature Sensors, and Others}), by Platform/Carrier type (Conveyor-Based/Modular Systems, Bench-Based Systems, Handheld/Portable Systems, and Drones), by Automation Type (Fully Automated, Semi-Automated, and Manual), by Analysis System Type (Image Analysis Systems, Multispectral Scientific Cameras, Canopy Analysis Systems, Fluorometers, and Others), by Application (High-Throughput Screening, Trait Identification, Photosynthetic Performance, Morphology and Growth Assessment, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the Plant Phenotyping market, click the link below:

https://www.coherentmarketinsights.com/market-insight/plant-phenotyping-market-4584

Moreover, launch of new products is expected to drive the plant phenotyping market growth. For instance, Keygene, a biotechnology company, and 22nd Century Group Inc., an agri-biotechnology company, launched an advanced phenotypic analysis platform for the development of new improved varieties of Cannabis that are incorporated with commercially valuable traits of increased CBD levels.

Key Takeaways of the Plant Phenotyping Market:

  • The global plant phenotyping market is expected to exhibit a CAGR of 11.2% over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028), owing to rising technological advancement in the agriculture sector. For instance, in 2020, Sensaphone, an American monitoring solutions company developed a soil moisture sensor, which can be used in plant phenotyping to improve irrigation.
  • Asia-Pacific region is expected to show growth in plant phenotyping market due to rising market strategies among market players. For instance, in 2018, Tierra Seed Science, an Indian agriculture technology company, acquired Branded Cotton Seed Business of Monsanto Holdings Private Ltd. and Xylem Seeds Private Ltd., to expand the potential reach of its business. Such developments related to expansion of agricultural firms is expected to fuel the growth of plant phenotyping market.
  • Some of the major players operating in the global plant phenotyping market include Phenospex, WIWAM, Lemnatec Corporation, Delta-T Devices Ltd., Phenomix, Keygene, Qubit Systems, WPS B.V., Photon Systems Instruments, Vienna Biocenter, Heinz Walz Gmbh, CropDesign, Rothamsted Research, and BASF SE.
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