Report : Asia Pacific Smart Pest Monitoring Management System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software and Services) and End-User (Commercial, Residential, Agriculture, and Industrial)
At 9.7% CAGR, the Asia Pacific Smart Pest Monitoring Management System Market is speculated to be worth US$ 339.47 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific smart pest monitoring management system market was valued at US$ 194.87 million in 2022 and is expected to reach US$ 339.47 million by 2028, registering an annual growth rate of 9.7% from 2022 to 2028. Agriculture sector accepting advanced technologies and various government regulations for implementation of smart PEST monitoring management systems are the critical factors attributed to the market expansion.
With the advent of advanced technologies such as artificial intelligence (AI), the acceptance of smart pest monitoring management systems is also rising, owing to their low service cost and ability to operate in real-time without interrupting the operation of the facility. Consequently, the demand for advanced pest control solutions is estimated to witness high growth in the coming years. The pest control service providers such as Rentokil, are robustly focusing on the integration of AI-based image-recognition technology to detect and handle different types of vermin and bugs. Also, the company's pest control specialists use a mobile app “PestID”—developed by Accenture—to detect bugs more efficiently. This app helps pest control specialists detect the surge in a type of rodent or bug and allows them to instantly take a picture of the pest. The image clicked via mobile app is then sent to Google Images, where machine learning software scans several pest images and pinpoint the intruder. As soon as the app detects the bug, it immediately offers a remedy to the technicians and helps them decide the treatment plans such as recommendations for homeowners and usage of proper chemicals. Subsequently, the implementation of AI for pest control has reduced the frequency of technician visits, thereby resulting in low service costs. Therefore, the mounting adoption of these digital applications and technology by pest control technicians is an ongoing trend, which is driving the adoption of smart pest monitoring management systems.
In addition to use of AI and real-time monitoring technologies, adoption of ID fingerprint technology for detecting specific pests is also forecasted to grow. The fingerprint technology supports the farmers to lower dependency on pesticides and chemicals. The technological fly trap utilizes fingerprint ID technology which is like smartphone for identifying specific pests. This technology is developed to aid farmers to manage Australian fruit fly. The device gathers data like insect's shape, size, and behaviour which is later written in algorithms to locate insects.
On the contrary, high initial and maintenance cost of smart pest monitoring management systems hurdles the growth of Asia Pacific smart pest monitoring management system market.
- Based on component, the smart pest monitoring management system market is bifurcated into hardware and software & services. The hardware segment held a larger share in 2022 with a share of 66.2%, amassing US$ 129.01 million. It is projected to garner US$ 214.19 million by 2028 to expand at 8.8% CAGR during 2022–2028.
- Based on the end user, the Asia Pacific smart pest monitoring management system market is commercial, residential, agriculture, and industrial. With 36.0% share of the domain, the commercial segment dominated the market in 2022. It accrued US$ 70.22 million in 2022 and is estimated to generate US$ 114.12 million by 2028 to grow at a CAGR of 8.4% over the forecast period.
Our regional analysis states that China captured 32.5% market share in 2022. It was assessed at US$ 63.27 million in 2022 and is likely to hit US$ 96.71 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.
Key players dominating the Asia Pacific smart pest monitoring management system market are Anticimex; Bayer AG; Bell Laboratories, Inc.; Corteva; Ecolab; EFOS d.o.o; Futura GmbH; Pelsis Group Ltd; PestWest USA; Ratdar; Rentokil Initial Plc; and VM Products among others.
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