The Worldwide Precision Pest Management Industry is Expected to Reach $4.3 Billion by 2027

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:

PrecisionHawk

EOS Data Analytics

Deere & Company

BASF SE

AGRIVI

Kubota Corporation

TeeJet Technologies

Yanmar Co. Ltd.

Semios

Suterra

Topcon

FlyPard Analytics GmbH (GeoPard Agriculture)

Trimble Inc.

FMC Corporation

Climate LLC

Key Topics Covered:

1 Markets1.1 Industry Outlook1.2 Business Dynamics1.2.1 Business Drivers1.2.1.1 Increasing Pesticide-Free Food Demand1.2.1.2 Substantial Cost Saving1.2.1.3 Rapid Adoption of Advanced Technologies in Agriculture1.2.1.3.1 Large Agrochemical Companies Integrating with Technology to Introduce the Products1.2.2 Business Challenges1.2.2.1 High Initial Capital Investment1.2.2.2 Lack of Awareness in Underdeveloped and Emerging Economies1.2.2.3 Less Feasible for Small Landowners1.2.3 Market Strategies and Developments1.2.3.1 Business Strategies1.2.3.1.1 Product Developments and Innovations1.2.3.1.2 Market Developments1.2.3.2 Corporate Strategies1.2.3.2.1 Mergers and Acquisitions1.2.3.2.2 Partnerships, Collaborations, and Joint Ventures1.2.4 Business Opportunities1.2.4.1 Integration of Visual Technologies1.2.4.2 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 Monitoring3.1.1.1 Remote Sensing and Imaging3.1.1.2 GPS/GNSS3.1.1.3 Others3.1.2 Spraying3.1.2.1 Remote Sensing and Imaging3.1.2.2 GIS3.1.2.3 VRA3.1.2.4 Others3.2 Demand Analysis of the Global Precision Pest Management Market (by Technology)3.3 Precision Pest Management Market (by Solution)3.3.1 Hardware3.3.1.1 Sensors3.3.1.2 Controllers and Spraying Systems3.3.1.3 Imaging Devices3.3.1.4 Others3.3.2 Software3.3.2.1 Scouting and Actuation3.3.2.2 Data Analysis3.3.3 Services3.4 Demand Analysis of the Global Precision Pest Management Market (by Solution)

4 Region

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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