The global plant phenotyping equipment market size is anticipated to value USD 276.86 million until 2025. It is also expected to register a CAGR of 10.51% over the forecasted years, 2018 to 2025. The surging need for assessing, validating and identifying genetic markers of plants and to obtain more productivity from them is propelling the market growth for plant phenotyping equipment.
The end-use segment of the field dominated the global market in 2017 on account of the increasing adoption of such equipment for enhancing the crop yield and production. On the other hand, the greenhouse end-use segment is expected to register the highest CAGR from 2018 to 2025 due to the increasing adoption of high-throughput platforms for deployment in greenhouses.
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In 2017, the quality assessment application segment dominated the global market owing to the surging need for assessing and analyzing yield, growth and crop patterns for enhancing their productivity. The application segment of product development is expected to register a CAGR of around 12.0% in the upcoming years.
North America accounted for a substantial share across the global plant phenotyping equipment market owing to the rising number of initiatives being undertaken by the governing authorities for developing crops having more yield. Europe is also expected to show substantial growth in the upcoming years owing to the shifting trend towards the establishment of phenotyping infrastructure prevailing across this region.
The market includes key players are investing hugely to develop innovative and technologically advanced products for widening their global presence and product portfolio.
Further key findings from the report suggest:
• In 2017, the imaging devices segment accounted for the largest share across the global market.
• The application segment of product development held a CAGR of around 12.0% from 2018 to 2025.
• North America is anticipated to register significant growth over the forecasted years, 2018 to 2025.
COVID-19 Impact Insights
The market is gaining traction due to the COVID-19 crisis. Rapid advances for the development of vaccines and immunity booster medicines and for conducting plant research are triggering the adoption of plant phenotyping equipment. Also, increasing health concerns among children and senior citizens over the consumption of non-edible food products are resulting in the loss of immunity power. Moreover, the usage of plant extracts in Ayurvedic and Homeopathic medicines is expected to propel the market growth over the post-pandemic period.
Global Plant Phenotyping Equipment Market: Key Players
Heinz Walz GmbH; BASF SE; LemnaTec GmbH; Keygene; Qubit Systems Inc.; and Photon Systems Instruments.
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