The global smart pest monitoring management system market is expected to surpass an impressive valuation of USD 806 Million in 2022 and is projected to exhibit a compound annual growth rate (CAGR) of 8% from 2022 to 2032.
Smart pest monitoring management systems are utilized for real-time monitoring of pest populations in residential, commercial, agricultural, and industrial premises. These systems let the users use smart pest trap devices such as smart monitoring traps, mechanical rats, and mouse traps with objects so as to analyze and predict pest population growth using predictive analysis.
Furthermore, they also help the users decide on preventive actions to be taken before the pest population spreads. Smart pest monitoring systems help reduce the costs that users incur as a result of the use of chemicals and various pest activities.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2022) | USD 806 Million |
| Anticipated Forecast Value (2032) | USD 1,740.09 Million |
| Projected Growth Rate (2022 to 2032) | 8% CAGR |
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The COVID-19 outbreak has had a significant impact on the growth of the market as the smart pest monitoring management industry relies majorly on residential, commercial, industrial, and agriculture industries that were badly impacted. The travel ban adversely impacted the activities relating to the import and export of insecticides and pesticides from one place to another.
However, the overall demand for smart pest monitoring management systems is likely to increase in the years to come as industries have now attained normalcy in their operational conditions. These systems are much in demand owing to the growing number of rodents, bugs, and pests across different industries.
The global demand for smart pest monitoring management systems is projected to increase at a CAGR of 8% during the forecast period between 2022 and 2032, reaching a total of USD 1,740.09 Million in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 6%.
The increasing rate of organic farming pushing the growth of the market
Organic farming is a unique and fast-growing segment, inhibiting the growth of smart pest-monitoring management systems. The area under organic farming is rapidly growing across the world. According to FiBL statistics, the area under organic cultivation across the world was 69.1 million hectares in 2017, which increased by 8.4% and reached 74.9 million hectares in 2020.
Smart pest monitoring management systems help in easing the handling of attributes like low-to-no re-entry intervals and post-harvest intervals. Similarly, innovations in the area of smart pest monitoring management systems, coupled with a growing consumer awareness about the negative impact of poor pest monitoring, are expected to boost the adoption rate in the near future.
Moreover, the need for timely pest control is vital to evade feeding damages on fields. This boosts the demand for Integrated Pest Management (IPM). IPM improves and increases food availability and farm productivity. In April 2022, the California Department of Pesticide Regulation invested USD 3.75 million to fund 10 research projects exploring IPM tools to address the needs of agricultural, non-agricultural, and urban pest management needs.
The 2021 to 2022 Department of Pesticide Regulation Grants Programs depicts a 617% increase from last year’s investment to boost safer and more sustainable pest management methods. The growing usage of IPM is immensely contributing to the growth of the smart pest monitoring management system market.
Increased regional initiatives to drive the adoption of a Smart Pest Monitoring Management System
Various North American industries, including automotive, chemical, rubber, and others are expanding their manufacturing base. Furthermore, rising agriculture activities make this region one of the largest consumers of smart pest monitoring management systems. Thus, the rising manufacturing industries are influencing the development of the regional smart pest monitoring management system market growth.
Increasing Investments are Spurring Demand for smart pest monitoring management system
The Europe smart pest monitoring management system market size is anticipated to register commendable growth from 2022 to 2032, due to a rise in demand for consumer-based goods and warehouses. Germany and France are the top countries in the smart pest monitoring management system market in Europe. The three leading industries in the region are the automotive, food & beverage, and pharmaceutical industries.
Hardware Segment To Lead the Component Type of Smart Pest Monitoring Management System
Based on components, the smart pest monitoring management system market is segmented into hardware and software & services. The hardware segment holds a larger share. Based on hardware, it comprises smart monitoring traps, mechanical rats and mouse traps, sensors, and GPS drones, among others.
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Some key startups in the Smart Pest Monitoring Management System Market include-
Key players in the smart pest monitoring management system market are Anticimex, Bell Labs, Bayer AG, Corteva, Ecolab, and Rentokil Initial PLC.
| Report Attribute | Details |
|---|---|
| Market Value in 2022 | USD 2.5 Billion |
| Market Value in 2032 | USD 1740.09 Million |
| Growth Rate | CAGR of 8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Component, End-User, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, Israel, GCC Countries, South Africa |
| Key Companies Profiled |
Ratdar; Anticimex; Bell Laboratories Inc.; Bayer AG; Corteva; EFOS d.o.o; SnapTrap B.V; Pelsis Group; VM Products; Rentokil Initial Plc.; Futura GmbH; PestWest USA; Ratsense; Ecolab |
| Customization | Available Upon Request |
FMI projects the global smart pest monitoring management system market to expand at an 8% value CAGR by 2032.
The global smart pest monitoring management system market is estimated at a market value of USD 2.5 Billion.
The global smart pest monitoring management system market is expected to garner a market value of USD 1740.09 Million.
FMI has projected North America to be one of the key regions for the smart pest monitoring management system market.
Anticimex, Bell Labs, Bayer AG, Corteva, Ecolab, and Rentokil Initial PLC.
| Estimated Market Size (2024E) | USD 24,416.6 million |
|---|---|
| Projected Market Value (2034F) | USD 49,665.8 million |
| Value-based CAGR (2024 to 2034) | 6.5% |
| Estimated Market Size in 2023 | USD 17.61 billion |
|---|---|
| Projected Market Size in 2033 | USD 30 billion |
| CAGR (2023 to 2033) | 5.5% |
| Estimated Market Size (2023) | USD 2 billion |
|---|---|
| Projected Market Size (2033) | USD 4 billion |
| CAGR (2023 to 2033) | 7.1% |
| Market Size (2022) | USD 6 Billion |
|---|---|
| Market Size (2032) | USD 11.6 Billion |
| Market CAGR (2022 to 2032) | 6.8% |
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