The global smart harvest market size is expected to reach USD 27.94 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising focus on increasing agricultural productivity and crop yield. Rapid increase in the global population is exerting pressure on the agricultural sector worldwide to increase productivity in order to meet rising growing demand for food.
An autonomous tractor employs high-tech systems and sensors, which enable farmers to fully automate operations and reduce labor expenses. Farmers are able to optimize their output while using limited resources with the help of autonomous tractors. Ability of autonomous tractors to even work in extreme weather conditions is supporting demand. Analysis of data collected by high-tech systems and sensors help farmers in making effective decisions regarding harvesting routine of crops in the field.
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Some Key Highlights From the Report
- In November 2020, Deere & Company announced the acquisition of farm management software Company Harvest Profit. The software is expected to provide customers of Deere & Company with a forward-looking financial lens and better visibility into the profitability of their farms and insights to help them make more effective decisions.
- Indoor segment accounted for largest revenue share in 2020. Limited availability of arable land in developing countries is projected to boost growth of the indoor farming segment and increase utilization of smart harvest technologies and robots.
- Hardware segment revenue is expected to expand at a rapid CAGR during the forecast period. Rising preference of farmers towards advanced farm mechanization is contributing to growing adoption of harvesting robots and autonomous combine harvesters.
- North America accounted for largest revenue share contribution to the global smart harvest market in 2020. Presence of major players in the regional market such as Deere & Company, Harvest Automation, Inc., Abundant Robotics, Inc., and Energid Technologies is expected to support growth of the North America smart harvest market during the forecast period.
- Key players in the global market include Deere & Company, Robert Bosch GmbH, Panasonic Corporation, Energid Technologies, Smart Harvest Ltd, Harvest Automation, Inc., Dogtooth Technologies, AVL Motion B.V., Abundant Robotics, Inc., and Iron Ox, Inc.
Smart Harvest Market Segmentation:
Emergen Research has segmented the global smart harvest market on the basis of site of operation, component, crop type, and region:
- Site of Operation Outlook (Revenue, USD Billion; 2018–2028)
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Automation & control systems
- Harvesting robots
- Imaging systems
- Crop Type Outlook (Revenue, USD Billion; 2018–2028)
Regional Segmentation of the Market:
- North America (U.S.., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Summary of the Global Smart Harvest Report:
- Comprehensive analysis of the market including risks and opportunities
- Details of business strategies and plans undertaken by key market players
- Analysis of current and future trends that will affect the growth of the market in the forecast timeline
- In-depth analysis of drivers and constraints for better understanding of the market
- The report encompasses a detailed forecast for the years 2020-2027.
- The report provides valuable insights on key market growth driving trends and monetary competence in the forecast timeline.
Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Smart Harvest Market Segmentation & Impact Analysis
4.1. Smart Harvest Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Growing focus on raising agricultural productivity
18.104.22.168. Rapid penetration of smartphones and connected device in agriculture sector
22.214.171.124. Reduction in the agricultural workforce
126.96.36.199. Government initiatives regarding modernization of agricultural techniques
188.8.131.52. Advances in machine leaning and data science
184.108.40.206. Increasing adoption of drones and autonomous vehicles
4.2.3. Market restraints analysis
220.127.116.11. High initial investment required for automated harvesting robots
18.104.22.168. Lack of technical knowledge among farmers in developing countries
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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About Emergen Research
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