Smart Pest Monitoring Management System Market Report 2031
The smart pest monitoring management system market size is projected to reach US$ 1403.99 million by 2031 from US$ 706.92 million in 2023. The market is expected to register a CAGR of 9.0% during 2023–2031. The rise in the adoption of advanced technologies in the agriculture sector and several government regulations for the implementation of smart PEST monitoring management systems are likely to be the key drivers and trends of the market.
Smart Pest Monitoring Management System Market Analysis
The smart Pest Monitoring management system market is experiencing significant growth globally. This growth is attributed to factors such as the rise in the adoption of advanced technologies in the agriculture sector and several government regulations for the implementation of smart PEST monitoring management systems. Moreover, rising rates of urbanization and middle-class population drive pest control demand in residential applications, and the mounting adoption of advanced technologies and applications is anticipated to hold several opportunities for the market in the coming years.
Smart Pest Monitoring Management System Market Overview
A system for detecting the pest attack, intimating the farmer about the infection automatically, and comparing the obtained real-time values with the database to identify the affected leaf and to alert the farmer through the GSM module is proposed. With the interpretation of smart agriculture, insect monitoring systems are progressively used in agriculture, forestry, landscaping, customs, professional standardized science and technology demonstration parks, and many other fields. Monitoring, early warning, forecasting, and forecasting of information on changes in the pest situation in the field, and assisting managers in formulating specific prevention and control measures promptly.
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Smart Pest Monitoring Management System Market: Strategic Insights
Market Size Value in US$ 805.06 Million in 2022 Market Size Value by US$ 1,219.35 Million by 2028 Growth rate CAGR of 7.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Smart Pest Monitoring Management System Market: Strategic Insights
| Market Size Value in | US$ 805.06 Million in 2022 |
| Market Size Value by | US$ 1,219.35 Million by 2028 |
| Growth rate | CAGR of 7.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Smart Pest Monitoring Management System Market Drivers and Opportunities
Rise in Advanced Technologies in Agriculture Technologies to Favor Market
The rise in advanced technologies in agriculture technologies is indeed driving the market. Technological advances such as precision farming are gaining traction owing to the adoption of advanced analytics and the Internet of Things (IoT). Advanced analytics utilizes numerous methods and instruments to obtain and analyze information regarding the conditions of soil and yield. Precision farming practices are likely to witness significant growth since these practices allow farmers to boost productivity, regulate field fluctuations, and lower production prices. This raises the agricultural yield, which increases the requirement of a smart pest monitoring market. Thus, the rise in advanced technologies in agriculture is driving the market.
Adoption of Integrated Pest Management.
Integrated Pest Management (IPM) is a valuable and environmentally sensitive approach to pest management that depends on a combination of common-sense practices. IPM programs utilize current, comprehensive statistics on the life cycles of pests and their relations with the environment. This information, in combination with available pest control methods, is managed to manage pest damage by the most economical means and with the minimum possible hazard to people, property, and the environment. Moreover, various companies offer IPM. For example, LEAF offers a farmer guide to integrated pest management.
Smart Pest Monitoring Management System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the smart pest monitoring management system market analysis are component and end users.
- Based on components, the smart pest monitoring management system market is divided into hardware, software & services. The hardware segment is anticipated to hold a significant market share in the forecast period.
- Based on the end user, the smart pest monitoring management system market is divided into commercial, residential, agriculture, and industrial. The commercial segment is anticipated to hold a significant market share in the forecast period.
Smart Pest Monitoring Management System Market Share Analysis by Geography
The geographic scope of the smart pest monitoring management system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the smart pest monitoring management system market. High technology adoption trends in various industries in the North American region have fuelled the growth of the smart pest monitoring management system market. Factors such as increased adoption of digital tools and high technological spending by government agencies. The rise in the adoption of advanced technologies in the agriculture sector and several government regulations for the implementation of smart PEST monitoring management systems are expected to drive the North American smart pest monitoring management system market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has many smart pest monitoring management system market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the smart pest monitoring management system market.
Smart Pest Monitoring Management System Market Report Scope
Smart Pest Monitoring Management System Market News and Recent Developments
The smart pest monitoring management system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart pest monitoring management system market are listed below:
- FarmSense unveiled a smart pest monitoring system named Smart Trap that can help farmers improve insect monitoring and crop management. Smart Trap leverages ML algorithms and predictive analytics to automate the process of real-time insect classification. (Source: FarmSense Company Website/Newsletter, December 2021)
- Syngenta has introduced its innovative SecureChoice remote detection system for smart rodent monitoring in the UK. The system will be on show live at PestTech 2023 in Milton Keynes (8 November 2023). (Source: Syngenta Company Website, November 2023)
Smart Pest Monitoring Management System Market Report Coverage and Deliverables
The “Smart Pest Monitoring Management System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Smart pest monitoring management system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Smart pest monitoring management system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Smart pest monitoring management system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the smart pest monitoring management system market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The expected CAGR of the smart pest monitoring management system market is 9.0%.
The global smart pest monitoring management system market is expected to reach US$ 1403.99 million by 2031.
The key players holding majority shares in the global smart pest monitoring management system market are Ratdar, Anticimex, Bell Laboratories, Inc., Bayer AG, Corteva, EFOS d.o.o, SnapTrap, B.V.Pelsis Group Ltd, VM Products, Rentokil Initial Plc.
The mounting adoption of integrated pest management is anticipated to drive the market in the forecast period.
The rise in the adoption of advanced technologies in the agriculture sector and several government regulations for the implementation of smart pest monitoring management systems are some of the factors driving the smart pest monitoring management system market.
North America is anticipated to dominate the smart pest monitoring management system market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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