Report : Europe 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 5.4% CAGR, the Europe Smart Pest Monitoring Management System Market is speculated to be worth US$ 373.12 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe smart pest monitoring management system market was valued at US$ 272.78 million in 2022 and is expected to reach US$ 373.12 million by 2028, registering an annual growth rate of 5.4% 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.
The mounting adoption of advanced technology to ease the overall processes performed in the agriculture sector, which includes adopting the automated pest monitoring system by the farmers, decreases the manual intervention in fields. The manual pest controlling process in farming is time-consuming, it involves more labor at an additional cost for farmers, and it raises safety issues for workers. The adoption of smart pest monitoring management systems reduces crop damage by pests and decreases the farmer’s field visits for pest monitoring from time to time. The application of smart pest monitoring management systems boosts the accuracy of pest monitoring at a lower cost. Additionally, the adoption of smart pest monitoring management systems in farm fields reduces the application of chemical pesticides. The smart pest monitoring management systems ease the risks by giving prior intimation to the farmers/end users with the help of accurate data about the influence of pests on the yields. Consequently, the early control of pests helps in resolving issues before the crop sustains severe damage.
The adoption of IoT-enabled solutions is one of the most significant factors for adopting smart agriculture systems, which includes a smart pest monitoring management system. The smart pest monitoring system helps farmers embrace modern technologies such as artificial intelligence and analytics to enhance crop management and insect monitoring. Thus, the mounting adoption of advanced technologies in the agriculture sector is driving the adoption of smart pest monitoring management systems across the globe.
Additionally, utilization of drones in farming activities can result into crop spraying economical, more precise, and safe. It is expected that farmers in developed economies will take an advantage of drones for drone-assisted pest management. In April 2022, Clariant- a supplier of specialty chemicals for agriculture unveiled DropForward. It is a focused approach for giving precision application with co-formulants and adjuvants. Synergen DRT is a first solution to come out from their DropForward concept. Synergen DRT assists in controlling volatility and drift of very fine droplets during application and aid in enhancing penetration of actives in leaves, fueling biological performance, and making drone spraying environmentally friendly and better sustainable.
Smart pest control is more effective when it becomes easy to identify present status of pest in a timely manner and take actions accordingly. Therefore, to address the mentioned concern, application of Geographic Information System (GIS) has included a new dimension for pest management. The implication of GIS technology for insect pest management application enables foliage damage index, monitoring suitable habitat and migration of insect pests at various aspects. GIS maps facilitates prediction and early warning of insect outbreaks along with their population diversity. Technological advancements in agriculture by utilizing GIS technology is offering plenty of scope for pest monitoring in agriculture sector.
On the contrary, high initial and maintenance cost of smart pest monitoring management systems hurdles the growth of Europe 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 63.5%, amassing US$ 143.25 million. It is projected to garner US$ 210.93 million by 2028 to expand at 6.7% CAGR during 2022–2028.
- Based on the end user, the Europe smart pest monitoring management system market is commercial, residential, agriculture, and industrial. With 34.5% share of the domain, the commercial segment dominated the market in 2022. It accrued US$ 77.87 million in 2022 and is estimated to generate US$ 113.70 million by 2028 to grow at a CAGR of 6.5% over the forecast period.
Our regional analysis states that Germany captured 29.4% market share in 2022. It was assessed at US$ 66.31 million in 2022 and is likely to hit US$ 93.70 million by 2028, exhibiting a CAGR of 5.9% during the forecast period.
Key players dominating the Europe 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; SnapTrap B.V. and VM Products among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: sam@businessmarketinsights.com