7+% CAGR for Smart Pest Monitoring Management System Market Share to hit USD 1200+ Mn by 2028 - The Insight Partners

The global smart pest monitoring management system market to grow with adoption of advance technologies in agriculture sector and several government regulations

NEW YORK, UNITED STATES, UNITED STATES, October 17, 2022 /EINPresswire.com/ -- According to The Insight Partners’ latest market study on “Smart Pest Monitoring Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware and Software & Services) and End User (Commercial, Residential, Agriculture, and Industrial)” the smart pest monitoring management system market is expected to grow from US$ 805.06 million in 2022 to US$ 1,219.35 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2022 to 2028.

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Global Smart Pest Monitoring Management System Market Growth Values, Regional and Industry Scope:
Market Size Value in - US$ 805.06 Million in 2022
Market Size Value by - US$ 1,219.35 Million by 2028
Growth rate - CAGR of 7.2% from 2022 to 2028
Forecast Period - 2022-2028
Base Year - 2022
No. of Pages - 169
No. of Tables - 56
No. of Charts & Figures - 73
Historical data available - Yes
Segments covered - Component and End User
Market Opportunities - Rising Rates of Urbanization and Middle-Class Population Drive Pest Control Demand in Residential Applications
Future Trends - Mounting Adoption of Advanced Technologies and Applications

Impact of COVID-19 Pandemic on Global Smart Pest Monitoring Management System Market
The major countries in the MEA facing the economic impact of COVID-19 pandemic include Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. The region registered a swift decline in manufacturing activities due to industries shutting down and technology innovations witnessed temporary disruptions across Middle East and Africa region. Due to the global COVID-19 pandemic, the regional activites was negatively impacted. In addition to this, the factory lockdowns, business shutdowns, and travel bans further aggravated the economic problems in the region. In Saudi Arabia and the UAE, the imposition of travel restrictions and disruption of supply chains limited the smart pest monitoring management system market growth to a certain extent. The impact of the COVID-19 pandemic on smart pest monitoring management system market has been huge both as a merit and demerit. However, it will certainly see a heavy rise after the pandemic.

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Global Smart Pest Monitoring Management System Market: Company Overview
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.

Concerning hardware used in smart pest monitoring systems, companies such as FarmSense are developing new systems to enhance crop management. The company’s system assists the farmers in adopting advanced machine learning, artificial intelligence, and real-time analytics to enhance crop management and insect monitoring. Additionally, the company’s FlightSensor utilizes newer optical sensor technology for automating real-time insect classification and counting processes. This sensor provides immediate access for farmers, which helps in making mission-critical decisions efficiently on pest control and crop. Similarly, in October 2021, Syngenta a Switzerland company known for offering agricultural science and technology for seeds and pesticides is exploring DIOPSIS (Digital Identification of Photographically Sampled Insect Species) insect scanner. This scanner assists growers in obtaining insight into beneficial insects and pests for their crops. Faunabit, a start-up, founded this scanner, in which Syngenta is exploring scanners for regular agriculture practice. The scanner will also help measure biodiversity in the field and develop a decision support system for farmers. Such developments are projected to create lucrative business opportunities for advanced pest monitoring systems and propelling the smart pest monitoring management system market growth.

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Strategic Insights:
The smart pest monitoring management system market players mainly focus on developing advanced and efficient products.
• In 2022, RATSENSE’s technology will be applied in NEA markets. All NEA markets and hawker centers will have rat surveillance devices installed. Under a two-year experiment, the NEA will deploy around 20 rat surveillance technologies every month, beginning with marketplaces and hawker centers.

• In 2022, Bayer AG announced the launch of its brand-new Research and Innovation Center at Kendall Square in Boston-Cambridge, Massachusetts (U.S.A.), further extending the company's presence into one of the most cutting-edge pharmaceutical research and development centers worldwide.

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