The global smart pest monitoring management system market is expected to surpass an impressive valuation of US$ 806 Million in 2022, with a compound annual growth rate (CAGR) of 8% projected from 2022 to 2032.
Smart pest monitoring management systems are used to monitor pest populations in residential, commercial, agricultural, and industrial settings in real time. These systems allow users to use smart pest trap devices like smart monitoring traps, mechanical rats, and mouse traps with objects to analyze and predict pest population growth using predictive analysis.
Furthermore, they assist users in deciding on preventive measures to be taken before the pest population spreads. Smart pest monitoring systems assist users in lowering the costs associated with the use of chemicals and various pest activities. Furthermore, timely pest control is critical to avoiding feeding damage on fields. This increases the demand for IPM (Integrated Pest Management). IPM improves and expands food availability and farm productivity.
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The Europe Smart Pest Monitoring Management System market is expected to grow significantly between 2022 and 2032, owing to increased demand for consumer goods and warehouses. Germany and France lead the European market for smart pest monitoring management systems. The region’s three leading industries are automotive, food and beverage, and pharmaceutical.
Key Takeaways from Market Study
- The global smart pest monitoring management system market is expected to garner a market value of US$ 1,740.09 Million.
- The market is projected to exhibit a compound annual growth rate (CAGR) of 8% from 2022 to 2032.
- The Europe Smart Pest Monitoring Management System market size is anticipated to register commendable growth.
- North America was the leading regional segment in terms of revenue and market share.
- Based on components, the smart pest monitoring management system market is segmented into hardware and software & services.
Key Market Players
Major players are channeling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Some of the players in the Smart Pest Monitoring Management System market are Anticimex, Bell Labs, Bayer AG, Corteva, Ecolab, and Rentokil Initial PLC.
- 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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Key Segments Profiled in the Smart Pest Monitoring Management System Market Industry Survey
Smart Pest Monitoring Management System Market by Component:
- Hardware
- Software & Services
Smart Pest Monitoring Management System Market by End-User:
- Commercial
- Residential
- Agriculture
- Industrial
Smart Pest Monitoring Management System Market by Region:
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Latin America
- Middle East and Africa
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