Nanotechnology in agriculture is the application of extremely small tools such as sensors, which can be used for agricultural development. Nanotechnology is a new revolution in industries and has the potential to bring about drastic changes in the agricultural industry. Development of new nanotech-based tools and equipment help increase efficiency and overcome challenges faced by the agricultural industry. Nanotech-based tools significantly benefit the agricultural sector; they aid in early detection of diseases, improve plant’s ability to absorb nutrients, and promote molecular treatment of diseases. Implementation of nanotechnology in the form of small sensors and monitoring devices have created positive impact on the future uses of precision farming methodologies.
The global nanotechnology in agriculture market is driven by existing agro-chemical companies because they are investigating the potential of nanotechnologies to achieve high efficiency and greater penetration of technology into agricultural components used for plants. Various nano-products specifically used in the agricultural sector have been launched in the market by technology-oriented mid-sized companies that produce soil-enhancement products that promote even water distribution, storage, and consequently water saving.
The nanotechnology market has expanded substantially in the agriculture sector. Research has been carried out in the commercial agro-chemical sector to gauge the potential advantages of nanotechnology in agriculture. Emergence of nanotechnology applications in consumer products has also increased the number of ethical and societal concerns in some countries, which include health and environmental safety, consumer perception, and intellectual property rights.
The nanotechnology in agriculture market can be segmented into applications such as nanoscale carriers, nanolignocellulosic materials, clay nanotubes, biosensors, and others. Nanoscale carriers can be utilized for the efficient delivery of fertilizers, pesticides, herbicides, and plant growth regulators. Its mechanism helps prevent degradation of plants, thereby reducing the chemical runoff into the environment. Nano carriers help improve stability against degradation in the environment and ultimately reduce the environmental problems. Nanolignocellulosic materials are obtained from crops and trees, leading to new opportunities for innovative and value-added nano-sized materials and products. Clay nanotubes are low cost pesticide carriers, extended release and have better contact with plants, and reduce the amount of pesticides used by 70–80%, hence it reduce the cost of pesticide and also the impact on water streams.
In terms of geography, the nanotechnology in agriculture market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Nanotechnology in agriculture is widely used in the U.S., Western European nations, and Japan. Countries such as Brazil, India, China, South Korea, South Africa and Thailand have significant growth in the use of nanotechnology. South Africa and Thailand have carried out significant nanotechnology research initiatives and established nation-wide activities focused on specific needs of the nanotechnology in agriculture.
Key players operating in the nanotechnology in agriculture market include Nanosys Inc, ASML Holding, Zyvex Labs, Oxford Instruments plc, Nanoco Group plc, and ThalesNano Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.