The market is expected to grow at a CAGR of 16.43% during the forecast period of 2022-2027
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Precision Pest Management Market – A Global and Regional Analysis.
According to this study, the global precision pest management market was valued at $1.74 billion in 2021 and is projected to reach $4.39 billion by 2027.
The following factors are responsible for the increase in demand for precision pest management:
- Increasing pesticide-free food demand
- Substantial cost saving
- Rapid adoption of advanced technologies in agriculture
The detailed study is a compilation of 268 market data tables and 19 figures spread through 290 pages.
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Analyst’s Take on the Market Projection
According to Debraj Chakraborty, Principal Analyst, BIS Research, “The precision pest management (PPM) market is expected to register a high demand growth over the forecast period. This is due to its low pesticide and herbicide requirements and increased crop production. Governments are actively promoting precision pest management because it increases production with a reduced impact on the environment. The use of PPM technologies can assist farmers in reducing waste and increasing efficiency by integrating them into their operations. Trends such as increasing requirements for crop yield and increasing demand to combat climate change further contribute to the growth of the global precision pest management market.”
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Major Existing Industry Leaders in the Precision Pest Management Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are:
- EOS Data Analytics
- Deere & Company
- BASF SE
- Kubota Corporation
- TeeJet Technologies
- Yanmar Co. Ltd.
- FlyPard Analytics GmbH (GeoPard Agriculture)
- Trimble Inc.
- FMC Corporation
- Climate LLC
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 grape, blueberry, and other tree crops.
Application of Site-Specific Pest Control to Witness Significant Growth
Precision pest management helps to reduce the input cost by using pesticides and herbicides only where needed. Effective management of pesticides and herbicides results in higher yield with less operating cost. The applications include site-specific pest control and area-wide pest control.
According to this report, demand for site-specific pest control is expected to experience significant growth over the forecast period 2022- 2027. In this method, pest control is performed in a smaller site-specific management zone that is often found on an individual agricultural plot.
This type of site-specific pest control uses more conventional methods, which include the use of specific pesticides to eradicate the pest or to remedy its effects if it has already caused damage or development.
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually focusing on several deep technology verticals.
Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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