DUBLIN, Dec. 29, 2022 /PRNewswire/ -- The "Precision Pest Management Market - A Global and Regional Analysis: Focus on Application, Product, and Country-Wise Analysis - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global precision pest management market was valued at $1,748.4 million in 2021 and is expected to reach $4,396.3 million by 2027, following a CAGR of 16.43% during 2022-27.
Stringent food safety regulations coupled with increasing production with reduced production costs are expected to drive the precision pest management (PPM) market over the forecast period.
Market Lifecycle Stage
Precision pest management can be defined as using technologies and strategies to monitor, prevent, avoid, and suppress pests, diseases, weeds, and other living things that directly or indirectly disrupt agricultural production processes.
The purpose of precision pest management is to enhance the quality of crops and minimize the negative impacts of pest control on resources such as soil, water, air, plant, and humans or animals.
Pests associated with agriculture include weeds, insects, and diseases. Precision pest management solutions rely on different tools and methods to reduce the impacts of pests on crops. Precision pest management includes monitoring pests and spraying or pest management.
Impact of COVID-19
Almost all major industries in the world have been affected by the COVID-19 pandemic, including the agricultural industry. Worldwide economic instability has accompanied the pandemic, and the gross domestic product (GDP) of all countries declined in 2020.
This disruption of normal life because of the pandemic has led to new technologies and innovations in every sector, including agriculture. The pandemic's potential impact on the adoption of artificial intelligence (AI) and the Internet of Things (IoT) has increased the traction of precision pest management.
Recent Developments in the Global Precision Pest Management Market
In September 2022, Trimble inked a contract to buy Bilberry, a firm that manufactures equipment for targeted weed spraying and is based in France.
In March 2022, Deere & Company introduced See & Spray Ultimate. Farmers can spot-spray non-residual herbicide on weeds among corn, soybeans, and cotton using the factory-installed system. The technology underlying the green-on-green solution was developed by Blue River Technology, an artificial intelligence provider that Deere acquired in 2017.
In December 2021, Kubota Corporation partnered with Bloomfield Robotics, which is a company that delivers plant growth monitoring services to tree crops. The company uses image analysis technology and artificial intelligence (AI) to assess plant growth and detect pests on the grape, blueberry, and other tree crops.
In October 2021, Yanmar launched the YV01 autonomous spraying robot, which was developed in cooperation with European vineyards.
Demand - Drivers and LimitationsFollowing are the demand drivers for the precision pest management market:
Increasing Pesticide-Free Food Demand
Substantial Cost Saving
Rapid Adoption of Advanced Technologies in Agriculture
The market is expected to face some limitations as well due to the following challenges:
High Initial Capital Investment
Lack of Awareness in Underdeveloped and Emerging Economies
Less Feasible for Small Landowners
Key Market Players and Competition Synopsis
Profiled companies have been selected based on inputs gathered from primary experts and analyses of the company's domestic and international presence, product portfolio, and market penetration.
The top segment players leading the precision pest management market include original equipment manufacturers (OEMs) and software solution providers, which capture a significant chunk of the share in the market.
Some of the prominent names established in this market are:
EOS Data Analytics
Deere & Company
Yanmar Co. Ltd.
FlyPard Analytics GmbH (GeoPard Agriculture)
Key Topics Covered:
1 Markets1.1 Industry Outlook1.2 Business Dynamics1.2.1 Business Drivers184.108.40.206 Increasing Pesticide-Free Food Demand220.127.116.11 Substantial Cost Saving18.104.22.168 Rapid Adoption of Advanced Technologies in Agriculture22.214.171.124.1 Large Agrochemical Companies Integrating with Technology to Introduce the Products1.2.2 Business Challenges126.96.36.199 High Initial Capital Investment188.8.131.52 Lack of Awareness in Underdeveloped and Emerging Economies184.108.40.206 Less Feasible for Small Landowners1.2.3 Market Strategies and Developments220.127.116.11 Business Strategies18.104.22.168.1 Product Developments and Innovations22.214.171.124.2 Market Developments126.96.36.199 Corporate Strategies188.8.131.52.1 Mergers and Acquisitions184.108.40.206.2 Partnerships, Collaborations, and Joint Ventures1.2.4 Business Opportunities220.127.116.11 Integration of Visual Technologies18.104.22.168 Internet Infrastructure Upgradation and 5G Services Launch1.3 Startup Landscape1.3.1 Key Startups in the Ecosystem1.4 Impact of COVID-19 on the Global Precision Pest Management Market
2 Application2.1 Global Precision Pest Management Market (by Application)2.1.1 Area-Wide Pest Control2.1.2 Site-Specific Pest Control2.2 Demand Analysis of the Global Precision Pest Management Market (by Application)
3 Products3.1 Precision Pest Management Market (by Technology)3.1.1 Monitoring22.214.171.124 Remote Sensing and Imaging126.96.36.199 GPS/GNSS188.8.131.52 Others3.1.2 Spraying184.108.40.206 Remote Sensing and Imaging220.127.116.11 GIS18.104.22.168 VRA22.214.171.124 Others3.2 Demand Analysis of the Global Precision Pest Management Market (by Technology)3.3 Precision Pest Management Market (by Solution)3.3.1 Hardware126.96.36.199 Sensors188.8.131.52 Controllers and Spraying Systems184.108.40.206 Imaging Devices220.127.116.11 Others3.3.2 Software18.104.22.168 Scouting and Actuation22.214.171.124 Data Analysis3.3.3 Services3.4 Demand Analysis of the Global Precision Pest Management Market (by Solution)
5 Markets - Competitive Benchmarking & Company Profiles5.1 Competitive Benchmarking5.2 Market Share Analysis5.2.1 Market Share Analysis of Global Precision Pest Management Companies5.3 Company Profiles
6 Research Methodology
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