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The adoption of solutions that support the Internet of Things is one of the most important factors for the adoption of smart agricultural systems, including smart pest monitoring and management systems. Intelligent pest monitoring systems can help farmers adopt modern technologies such as artificial intelligence and analysis to enhance crop management and insect monitoring. Therefore, the agricultural sector is increasingly adopting advanced technologies and is promoting the global adoption of intelligent pest monitoring and management systems.
The market for intelligent pest monitoring and management systems is expected to grow from US$76709 million in 2021 to US$1.21935 million in 2028; the compound annual growth rate between 2021 and 2028 is expected to be 6.8%.
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The impact of the COVID-19 pandemic on the intelligent pest monitoring and management system market
According to the latest situation report from the World Health Organization (WHO), the United States, Spain, Italy, France, Germany, the United Kingdom, Russia, Turkey, Brazil, Iran and China are among the countries most affected by the new coronavirus. -19 pandemic. In 2020, the world economy will suffer a major impact, and it is expected that the impact will continue to a certain extent in the next few years. The epidemic has disrupted major industries such as electronics, semiconductors, hotels, manufacturing, and housing. The sharp decline in the growth of these industries is limiting the growth of the intelligent pest monitoring and management system market. It is expected that the increasing popularity of agricultural mechanization and the ever-developing smart agricultural infrastructure will promote the adoption of smart pest monitoring and management systems and services by farmers in the region. However, due to the increasing impact of COVID-19 on the market, the growth rate has been negatively affected. Due to the outbreak of the epidemic, supply chain disruption and labor shortages and other negative impacts, it is expected that the global demand for digital agriculture will be promoted in the next few years to avoid such situations.
The increasing popularity of smart pest control solutions, as well as the urbanization process of developing markets and the emergence of megacities, have created huge opportunities for the smart pest monitoring and management system market. Due to the high population density of countries such as China and India, and the large middle-class population that adopts pest control services, they have become one of the main target markets for pest control service providers and pesticide suppliers. The residential sector has witnessed a huge demand for intelligent pest monitoring and management systems to effectively deal with the increasing number of bed bugs, mosquitoes, cockroaches and termites. In addition, it is generally recommended to apply pesticide aerosols to small buildings or nearby areas. The most common forms of pests found in residential areas include cockroaches, lice, rodents, termites, ticks, bed bugs, and wildlife pests such as possums, raccoons, gophers and mole rats. The existence of these pests forces people to carry out pest control in their houses from time to time. Pest control solutions used in residential areas include chemical sprays, aerosols and bait. In the case of high levels of fumigation and pests in the residential sector, the use of smart pest control methods is considered more effective.
After weak growth in the past few years, the residential construction industry has begun to gain momentum in recent years. This can be attributed to the surge in the global population and the increasing demand for effective pest control methods. Therefore, the growth of residential construction may sharply increase the demand for efficient and intelligent pest control, thereby driving the demand for intelligent pest monitoring and management systems in the next few years. Therefore, the growing global residential sector is creating huge growth opportunities for the intelligent pest monitoring and management system market.
Participants operating in the intelligent pest monitoring and management system market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their position in the market. Some of the developments of the main players are listed below:
In March 2021, Bayer began preparing to start selling the pest control unit Bayer Environmental Sciences, the price of which may be as high as US$2.4 billion. In June 2021, Pest-Stop, a brand under the Pelsis Group, announced the launch of a new and improved solar mosquito repellent. The product uses a high-quality 2,200mAh rechargeable lithium battery powered by solar energy.
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