Press release
Smart Pest Monitoring Management System Market Size Worth $1,219.35 million By 2028 | CAGR 7.2%: The Insight Partners
According to The Insight Partners' research, the "Smart Pest Monitoring Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 1,219.35 million by 2028, registering a CAGR of 7.2% from 2022 to 2028.
Integrated pest management (IPM) is a process used to address pest problems while lowering risks to people and the environment. IPM successfully manages all kinds of pests in agricultural, wildland, urban, and natural areas. IPM is an ecosystem-based strategy that focuses on preventing pests or damage caused by them. The scope of IPM in the future is heavily profitable due to decreased pests and lesser pesticide applications while saving money and protecting health. The US EPA suggested using IPM as it is a smart, sustainable, and sensible approach to pest control. Also, with the increasing use of digital monitoring tools such as precision agriculture, geographic information systems, and global positioning systems, IPM will see an upward trend in its adoption. Adoption of IPM will directly support the smart pest monitoring management system market growth.
Get Sample Copy of this Report at - https://bit.ly/3RFJuUc
Smart Pest Monitoring Management System Market: Impact of COVID-19
The China also homes the largest population across the world, which imposed a greater risk of virus spread to a large number of individuals. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies of the region, including China, India, South Korea, and Vietnam. Industrial downturn in mentioned countries have adversely impacted the smart pest monitoring management system market during the first two quarter of 2020.
Rising adoption of farm mechanization and evolving smart agriculture infrastructure are projected to upsurge the adoption of smart pest monitoring management system and services among the farmers in the region. However, due to increased COVID-19 impact on smart pest monitoring management system market, the growth was negatively imapcted. Due to outbreak and negative implications such as supply chain disruptions and labor shortages, the inclination towards digital agriculture in the coming years wil rise. Nevertheless, the COVID-19 impact for short term has adversely afftected the smart pest monitoring management system market growth. Also, the adoption of smart pest control method and solutions was relatively slower due to economic slowdown and inflation. Other countries in the globe have looked to South Korea in the Asia Pacific region as a role model for how it is now managing the COVID-19 pandemic. However, because to its long-standing farming traditions, the nation also sets the bar high when it comes to finding answers to longer-term issues like agriculture and climate change. A steady market recovery is being aided by the government's immediate countermeasures, which include restarting agricultural production, providing financial support, stabilizing agricultural production and product supply, providing agricultural technology guidance, and managing pest monitoring.
The CAGR of Asia Pacific smart pest monitoring management system market is expected to grow at the highest rate over the forecast period, followed by Europe and MEA. The Asia Pacific smart pest monitoring management system market is growing tremendously and will likely continue to grow at the same pace during the forecast period. China, India, South Korea, Japan, and Australia are among the key contributors to this region's smart pest monitoring management system market. The agri-food industry in Asia, valued at ~US$ 5 trillion, is undergoing a technological revolution, which is projected to broaden the scope of the agriculture business. Increasing population in countries such as China, India, Indonesia, Japan, the Philippines, and Vietnam and rising demand for higher yields are the prime enablers of the agriculture sector in this region. The governments and private manufacturers are focusing on tackling the issue of pest control by developing and implementing smart pest monitoring management systems. Some of the region's smart pest monitoring system manufacturers are Corteva, Bell Labs, and Anticimex, among others. The above-mentioned factors are subjected to support smart pest monitoring management system market in Asia Pacific.
The smart pest monitoring management system market size is segmented into component, end-user, and geography. Based on component, the smart pest monitoring management system market is categorized into hardware and software & services. By end-user, the smart pest monitoring management system market is segmented into commercial, residential, agriculture, and industrial. On the basis of geography, the smart pest monitoring management system market size is primarily segregated into North America, Europe, Asia Pacific (Asia Pacific), the Middle East & Africa (MEA), and South America.
Inquire before Buying at - https://bit.ly/3CVfpfc
Key Findings of Study:
The global smart pest monitoring management system market analysis is segmented into five major regions- North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In 2021, North America led the largest smart pest monitoring management system market share, followed by Europe and North America. Moreover, Asia Pacific is expected to grow at the highest CAGR over the forecast period 2022-2028 in the global smart pest monitoring management system market.
In Asia Pacific, China held the largest smart pest monitoring management system market share in 2021. With the rapidly growing population of China, the country is planning to move around 250 million of its population into its rapidly developing megacities. Thus, to accommodate such massive population and simultaneously rising food demand, China is investing heavily in their agriculture and residential sector. Owing to heavy investments, the country's use of precision farming and other agriculture technology is high. Chinese State Council published regulation for the Prevention and Control of Crop Diseases and Insect Pests on April 2, 2020. The rule defines who is responsible for preventing and controlling agricultural illnesses and pests and outlines the consequences of violations. Therefore, owing to increasing population and rising investment in farming, the smart pest monitoring management system market analysis in China is expected to evolve.
Additionally, it allows for establishing a national surveillance system for agricultural diseases and pests. In March 2022, EQT Private Equity Asia invests in Guardian, the largest domestic pest treatment company in China with a significant presence in that nation's eastern and southern regions. Such steps by companies will promote the growth of smart pest monitoring management system market.
India is one of the fastest-growing economies in Asia Pacific, where agriculture is a lifeline of the Indian economy. This sector contributes nearly 16% to the GDP of the country. India has made notable advancements in utilizing smart pest control methods to improve farming activities. Furthermore, the government law such as The Insecticides Act, 1968 and Insecticides Rules, 1971, prevent risk to human beings or animals and for all connected matters, throughout India. The Minister of Agriculture and Farmers Welfare introduced the Pesticide Management Bill, 2020 in the Rajya Sabha. The Insecticides Act, 1968 is intended to be replaced by the Bill. Any kind of animal, plant, or pathogenic agent that is unwelcome or harmful to plants, humans, animals, or the environment is referred to in the Bill as a pest. Introduction of such laws will contriue to help in implementing pest management in India and thus propelling the smart pest monitoring management system market. Developments are expected as a result of this, for instance, a new BASF pesticide will assist Indian farmers in April 2022 in defending their crops against significant insect pests. With the introduction of BASF's Exponus insecticide, farmers in India will be able to safeguard their crops and increase output. The ground-breaking remedy is driven by a unique formulation of Broflanilide, a novel active component from BASF.
The List of Companies - Smart Pest Monitoring Management Market
Anticimex, Bell Labs, Bayer AG, Corteva, Ecolab, and Rentokil Initial PLC are some prominent smart pest monitoring management system market players. The market is highly fragmented, with several smart pest monitoring management system market players localized in a specific region to cater to domestic demand.
Purchase a copy of report at - https://bit.ly/3qcvh5h
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Integrated pest management (IPM) is a process used to address pest problems while lowering risks to people and the environment. IPM successfully manages all kinds of pests in agricultural, wildland, urban, and natural areas. IPM is an ecosystem-based strategy that focuses on preventing pests or damage caused by them. The scope of IPM in the future is heavily profitable due to decreased pests and lesser pesticide applications while saving money and protecting health. The US EPA suggested using IPM as it is a smart, sustainable, and sensible approach to pest control. Also, with the increasing use of digital monitoring tools such as precision agriculture, geographic information systems, and global positioning systems, IPM will see an upward trend in its adoption. Adoption of IPM will directly support the smart pest monitoring management system market growth.
Get Sample Copy of this Report at - https://bit.ly/3RFJuUc
Smart Pest Monitoring Management System Market: Impact of COVID-19
The China also homes the largest population across the world, which imposed a greater risk of virus spread to a large number of individuals. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies of the region, including China, India, South Korea, and Vietnam. Industrial downturn in mentioned countries have adversely impacted the smart pest monitoring management system market during the first two quarter of 2020.
Rising adoption of farm mechanization and evolving smart agriculture infrastructure are projected to upsurge the adoption of smart pest monitoring management system and services among the farmers in the region. However, due to increased COVID-19 impact on smart pest monitoring management system market, the growth was negatively imapcted. Due to outbreak and negative implications such as supply chain disruptions and labor shortages, the inclination towards digital agriculture in the coming years wil rise. Nevertheless, the COVID-19 impact for short term has adversely afftected the smart pest monitoring management system market growth. Also, the adoption of smart pest control method and solutions was relatively slower due to economic slowdown and inflation. Other countries in the globe have looked to South Korea in the Asia Pacific region as a role model for how it is now managing the COVID-19 pandemic. However, because to its long-standing farming traditions, the nation also sets the bar high when it comes to finding answers to longer-term issues like agriculture and climate change. A steady market recovery is being aided by the government's immediate countermeasures, which include restarting agricultural production, providing financial support, stabilizing agricultural production and product supply, providing agricultural technology guidance, and managing pest monitoring.
The CAGR of Asia Pacific smart pest monitoring management system market is expected to grow at the highest rate over the forecast period, followed by Europe and MEA. The Asia Pacific smart pest monitoring management system market is growing tremendously and will likely continue to grow at the same pace during the forecast period. China, India, South Korea, Japan, and Australia are among the key contributors to this region's smart pest monitoring management system market. The agri-food industry in Asia, valued at ~US$ 5 trillion, is undergoing a technological revolution, which is projected to broaden the scope of the agriculture business. Increasing population in countries such as China, India, Indonesia, Japan, the Philippines, and Vietnam and rising demand for higher yields are the prime enablers of the agriculture sector in this region. The governments and private manufacturers are focusing on tackling the issue of pest control by developing and implementing smart pest monitoring management systems. Some of the region's smart pest monitoring system manufacturers are Corteva, Bell Labs, and Anticimex, among others. The above-mentioned factors are subjected to support smart pest monitoring management system market in Asia Pacific.
The smart pest monitoring management system market size is segmented into component, end-user, and geography. Based on component, the smart pest monitoring management system market is categorized into hardware and software & services. By end-user, the smart pest monitoring management system market is segmented into commercial, residential, agriculture, and industrial. On the basis of geography, the smart pest monitoring management system market size is primarily segregated into North America, Europe, Asia Pacific (Asia Pacific), the Middle East & Africa (MEA), and South America.
Inquire before Buying at - https://bit.ly/3CVfpfc
Key Findings of Study:
The global smart pest monitoring management system market analysis is segmented into five major regions- North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In 2021, North America led the largest smart pest monitoring management system market share, followed by Europe and North America. Moreover, Asia Pacific is expected to grow at the highest CAGR over the forecast period 2022-2028 in the global smart pest monitoring management system market.
In Asia Pacific, China held the largest smart pest monitoring management system market share in 2021. With the rapidly growing population of China, the country is planning to move around 250 million of its population into its rapidly developing megacities. Thus, to accommodate such massive population and simultaneously rising food demand, China is investing heavily in their agriculture and residential sector. Owing to heavy investments, the country's use of precision farming and other agriculture technology is high. Chinese State Council published regulation for the Prevention and Control of Crop Diseases and Insect Pests on April 2, 2020. The rule defines who is responsible for preventing and controlling agricultural illnesses and pests and outlines the consequences of violations. Therefore, owing to increasing population and rising investment in farming, the smart pest monitoring management system market analysis in China is expected to evolve.
Additionally, it allows for establishing a national surveillance system for agricultural diseases and pests. In March 2022, EQT Private Equity Asia invests in Guardian, the largest domestic pest treatment company in China with a significant presence in that nation's eastern and southern regions. Such steps by companies will promote the growth of smart pest monitoring management system market.
India is one of the fastest-growing economies in Asia Pacific, where agriculture is a lifeline of the Indian economy. This sector contributes nearly 16% to the GDP of the country. India has made notable advancements in utilizing smart pest control methods to improve farming activities. Furthermore, the government law such as The Insecticides Act, 1968 and Insecticides Rules, 1971, prevent risk to human beings or animals and for all connected matters, throughout India. The Minister of Agriculture and Farmers Welfare introduced the Pesticide Management Bill, 2020 in the Rajya Sabha. The Insecticides Act, 1968 is intended to be replaced by the Bill. Any kind of animal, plant, or pathogenic agent that is unwelcome or harmful to plants, humans, animals, or the environment is referred to in the Bill as a pest. Introduction of such laws will contriue to help in implementing pest management in India and thus propelling the smart pest monitoring management system market. Developments are expected as a result of this, for instance, a new BASF pesticide will assist Indian farmers in April 2022 in defending their crops against significant insect pests. With the introduction of BASF's Exponus insecticide, farmers in India will be able to safeguard their crops and increase output. The ground-breaking remedy is driven by a unique formulation of Broflanilide, a novel active component from BASF.
The List of Companies - Smart Pest Monitoring Management Market
Anticimex, Bell Labs, Bayer AG, Corteva, Ecolab, and Rentokil Initial PLC are some prominent smart pest monitoring management system market players. The market is highly fragmented, with several smart pest monitoring management system market players localized in a specific region to cater to domestic demand.
Purchase a copy of report at - https://bit.ly/3qcvh5h
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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