According to research by The Insight Partners, “Intelligent Pest Surveillance Management System Market Forecast to 2028 – Impact of COVID-19 and Global Analysis”, published by The Insight Partners, the market is expected to reach 1,219 .35 million US dollars by 2028, registering a CAGR of 7.2% from 2022 to 2028.
Integrated Pest Management (IPM) is a process used to solve pest problems while reducing risk to people and the environment. IPM successfully manages all kinds of pests in agricultural, wild, urban and natural areas. IPM is an ecosystem strategy that focuses on preventing pests or the damage they cause. The scope of IPM in the future is very cost effective due to fewer pests and less pesticide applications while saving money and protecting health. The US EPA has suggested using IPM because it is a smart, sustainable, and sensible approach to pest control. Additionally, 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. The adoption of IPM will directly support the growth of the intelligent pest management systems market.
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Smart Pest Monitoring Management System Market: Impact of COVID-19
China is also home to the largest population in the world, which has imposed a greater risk of spreading the virus to a large number of individuals. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies in the region, including China, India, South Korea and Vietnam. The industrial slowdown in the mentioned countries had a negative impact on the market for intelligent pest management systems in the first two quarters of 2020.
The increasing adoption of agricultural mechanization and the evolution of smart agricultural infrastructure is expected to boost the adoption of intelligent pest monitoring management system and services among farmers in the region. However, due to the increased impact of COVID-19 on the intelligent pest management systems market, the growth has been negatively affected. Due to the outbreak and negative implications such as supply chain disruptions and labor shortages, the inclination towards digital agriculture in the coming years will increase. Nevertheless, the short-term impact of COVID-19 has adversely affected the growth of the intelligent pest management systems market. Also, the adoption of smart pest control methods and solutions has been relatively slower due to the economic downturn and inflation. Other countries around the world have looked to South Korea in the Asia-Pacific region as a model for how it is currently handling the COVID-19 pandemic. However, due to its long-standing agricultural traditions, the nation also sets the bar high when it comes to finding answers to longer-term issues like agriculture and climate change. Steady market recovery is aided by the government’s immediate countermeasures, which include restarting agricultural production, providing financial support, stabilizing agricultural production and commodity supply, providing agricultural technology advice and pest monitoring management.
Asia-Pacific Intelligent Pest Management Systems Market CAGR is expected to grow at the highest rate during the forecast period, followed by Europe and MEA. The Asia-Pacific intelligent pest monitoring management systems market is witnessing considerable growth and is likely to continue to grow at the same rate during the forecast period. China, India, South Korea, Japan, and Australia are some of the major contributors to the intelligent pest surveillance management systems market in this region. Asia’s agribusiness industry, valued at around US$5 trillion, is experiencing a technological revolution that is expected to expand the scope of agricultural activity. The increase in population in countries like China, India, Indonesia, Japan, Philippines and Vietnam and the growing demand for higher yields are the main drivers of the agricultural sector in this region. Governments and private manufacturers are focusing on pest control by developing and implementing intelligent pest monitoring management systems. Some of the manufacturers of intelligent pest monitoring systems in the region are Corteva, Bell Labs, and Anticimex, among others. The factors mentioned above are submitted to support the Asia-Pacific intelligent pest management systems market.
The Intelligent Pest Management System market size is segmented into components, end users and geographies. On the basis of components, the intelligent pest monitoring management systems market is categorized into hardware and software and services. By end-user, the intelligent pest management systems market is segmented into commercial, residential, agricultural, and industrial. On the basis of geography, the Intelligent Pest Management System market size is majorly split into North America, Europe, Asia-Pacific (Asia-Pacific), Middle East and Africa (MEA) and in South America.
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Main results of the study:
The global intelligent pest 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 held the largest intelligent pest management systems market share, followed by Europe and North America. Additionally, Asia-Pacific is expected to grow at the highest CAGR during the forecast period 2022-2028 in the global intelligent pest surveillance management systems market.
In Asia-Pacific, China held the largest intelligent pest management system market share in 2021. With China’s rapid population growth, the country plans to move about 250 million of its population to its rapidly developing megacities . So, to accommodate such a massive population and simultaneously growing demand for food, China is investing heavily in its agricultural and residential sector. Due to heavy investments, the country’s use of precision farming and other agricultural technologies is high. China’s State Council issued regulations for the prevention and control of crop diseases and pests on April 2, 2020. The rule defines who is responsible for the prevention and control of diseases and agricultural pests and describes the consequences of violations. Therefore, due to increasing population and increasing investment in agriculture, the market analysis of Intelligent Pest Monitoring Management System in China is expected to evolve.
In addition, it enables the establishment of a national surveillance system for agricultural pests and diseases. In March 2022, EQT Private Equity Asia is investing in Guardian, the largest domestic pest control company in China with a significant presence in the eastern and southern regions of that country. Such measures taken by the companies will promote the growth of the intelligent pest monitoring management systems 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 country’s GDP. India has made notable progress in using smart pest control methods to improve agricultural activities. Furthermore, government laws such as the Insecticides Act of 1968 and the Insecticides Rules of 1971 prevent hazards to human beings or animals and all related matters, all over India. The Minister of Agriculture and Farmers Welfare introduced the Rajya Sabha Pesticides Management Bill 2020. The Insecticides Act 1968 is to be superseded by the Bill. Any type of animal, plant, or pathogen that is undesirable or harmful to plants, humans, animals, or the environment is referred to in the bill as a pest. The introduction of such laws will help in the implementation of pest control in India and thus propel the market for intelligent pest monitoring management systems. Developments are expected following this, for example, a new BASF pesticide will help Indian farmers in April 2022 to defend their crops against important insect pests. With the introduction of BASF’s Exponus insecticide, Indian farmers will be able to protect their crops and increase production. The breakthrough remedy is driven by a unique formulation of Broflanilide, a new active ingredient from BASF.
Company List – Intelligent Pest Monitoring Management Market
Anticimex, Bell Labs, Bayer AG, Corteva, Ecolab, and Rentokil Initial PLC are some of the major players in the intelligent pest management systems market. The market is highly fragmented, with several intelligent pest management systems market players localized in a specific region to meet domestic demand.
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