Smart Pest Monitoring Management Market Business Growth, Size and Comprehensive Research Study Forecast to 2028

The Smart Pest Monitoring Management Market is projected to reach US$ 1,219.35 million by 2028 from US$ 805.06 million in 2022; it is expected to grow at a CAGR of 7.2% from 2022 to 2028

Pro AgroTech is one of the companies that is focused on developing automated technologies for monitoring insect pests. Their objective is to create an automatic insect counting device that can overcome the challenges posed by conventional pheromone traps. These traps are typically used for monitoring insect pests, particularly Lepidopteran pests like the Diamond Back Moth and Oriental Leaf Worm. The move towards replacing old pest trap systems is driving the adoption of newer smart pest control management systems.

The use of AI-based products for species identification and insect recognition is expected to create profitable growth opportunities in the market. The adoption of automated insect pest monitoring systems for various settings, including residential, commercial, industrial, agriculture, orchards, and forestry, is increasing at an impressive rate. The development efforts of companies are expected to drive the global market for smart pest monitoring management systems.

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The List of Companies -
1. Ratdar
2. Anticimex
3. Bell Laboratories, Inc.
4. Bayer AG
5. Corteva
6. EFOS d.o.o
7. SnapTrap B.V.
8. Pelsis Group Ltd
9. VM Products
10. Rentokil Initial Plc
11. Futura GmbH
12. PestWest USA
13. Ratsense
14. Ecolab

Key Findings of Study:

The global smart pest monitoring 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 led the largest smart pest monitoring management system market share, followed by Europe and North America. Moreover, Asia Pacific is expected to grow at the highest CAGR over the forecast period 2022-2028 in the global smart pest monitoring management system market.

China dominated the smart pest monitoring management system market share in the Asia Pacific region in 2021, reflecting the country's rapid population growth and plans to relocate approximately 250 million individuals to its booming megacities. To address the surging demand for food and accommodation, China is heavily investing in its agriculture and residential sectors, resulting in a high adoption rate of precision farming and other agriculture technologies. The Chinese State Council issued regulations for the Prevention and Control of Crop Diseases and Insect Pests on April 2, 2020, specifying the responsibilities for preventing and controlling agricultural illnesses and pests and outlining the consequences of non-compliance. As a result, with the population increase and growing investment in agriculture, the smart pest monitoring management system market in China is expected to undergo significant growth.

Additionally, it allows for establishing a national surveillance system for agricultural diseases and pests. In March 2022, EQT Private Equity Asia invests in Guardian, the largest domestic pest treatment company in China with a significant presence in that nation's eastern and southern regions. Such steps by companies will promote the growth of smart pest monitoring management system market.

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India, a rapidly expanding economy in the Asia Pacific region, depends heavily on agriculture, which accounts for nearly 16% of its GDP. To enhance farming activities, India has made significant progress in utilizing smart pest control techniques. In addition, the country has implemented laws such as The Insecticides Act, 1968, and Insecticides Rules, 1971, which regulate the use of pesticides throughout the nation and safeguard human beings, animals, and the environment.

The Pesticide Management Bill, 2020, introduced by the Minister of Agriculture and Farmers Welfare in the Rajya Sabha, aims to replace the Insecticides Act, 1968, and covers any unwelcome or harmful animal, plant, or pathogenic agent as a pest. The introduction of such regulations will facilitate the implementation of pest management in India, driving the growth of the smart pest monitoring management system market. Exciting developments are anticipated, such as the launch of a new BASF pesticide in April 2022 to help Indian farmers protect their crops against major insect pests. BASF's Exponus insecticide is powered by a distinctive formulation of Broflanilide, a novel active component. It will enable farmers in India to safeguard their crops and improve their yields.

Integrated pest management (IPM) is an ecosystem-based strategy that aims to address pest problems while reducing risks to the environment and people. This approach has been successfully applied in various areas such as agricultural, urban, natural, and wildland to manage all kinds of pests. The primary focus of IPM is to prevent pests or minimize the damage they cause. The future prospects of IPM are highly profitable as it reduces pests and decreases the use of pesticides, saving money, and safeguarding health.

The US EPA recommends the use of IPM as a smart, sustainable, and practical method of pest control. Moreover, with the growing adoption of digital monitoring tools like geographic information systems, global positioning systems, and precision agriculture, the use of IPM is likely to rise. Therefore, the adoption of IPM will directly contribute to the growth of the smart pest monitoring management system market.

Furthermore, timely pest control is crucial to prevent crop damage. This highlights the importance of adhering to the guidelines of Integrated Pest Management (IPM), which plays a significant role in promoting sustainable agriculture. IPM helps in the implementation of environmentally friendly and effective pest control practices that are safe for human consumption and beneficial to the ecosystem:

Increase in food availability and farm productivity, whereas loss caused due to pre, and post-harvest crop reduction.
High-income levels due to decreased production costs associated with lower pesticide use.
The proportion of pesticide residues in feed, food, and fiber as well as the environment is lowered.

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Following the guidelines of Integrated Pest Management (IPM), monitoring pest insects is a crucial step in determining the actual situation of a field before taking any action. In April 2022, the California Department of Pesticide Regulation allocated US$ 3.75 million to fund ten research projects aimed at developing IPM tools for agricultural, non-agricultural, and urban pest management. This funding reflects a 617% increase from the previous year's investment to promote safer and more sustainable pest management methods. As the usage of IPM continues to increase, it is expected to contribute directly to the growth of the smart pest monitoring management system market.

Europe held the second position in the smart pest monitoring management system market in 2021, with a considerable market share, and it is predicted to grow steadily from 2022 to 2028. During the forecast period, the region is expected to provide several growth opportunities for market players. Germany and France are the target regions for the smart pest monitoring management system market in Europe. The market is anticipated to grow in the region due to an increase in demand for consumer-based goods and warehouses. The food & beverage, automotive, and pharmaceutical industries are the three main industries in the region. Germany has a large trade surplus in the food and beverage industry, and the EU food law is highly harmonized. Therefore, the growth of these industries across the region is positively impacting the growth of the smart pest monitoring management system market, as they are major end-users of the system.

TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia-Pacific
4.2.4 Middle East and Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Key Market Dynamics
Continued…

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