Rising need to increase agricultural productivity and limited availability of arable land are key factors driving global smart harvest market growth
According to the most recent report by Emergen Research, the size of the worldwide smart harvest market is anticipated to reach USD 27.94 billion in 2028 and exhibit a consistent CAGR throughout the projected period. The growing attention being paid to boosting crop yield and agricultural productivity is responsible for the steady rise of the market’s revenue.
Smart harvesting is the practise of gathering fruits and vegetables with little to no human involvement using autonomous farming robots. Smart harvesting systems make use of a variety of technologies, including artificial intelligence (AI), satellites, cloud algorithms, aerial photography, and technical analysis. To increase yield, collecting makes use of a variety of connected phones. In agriculture, smart harvesting refers to the application of smart technology to increase agricultural yield, including GPS, cloud computer vision, satellite imagery, big data, and IoT.
The adoption of new technology in the agriculture industry is anticipated to be accelerated by an increase in the urban population in developing nations like China and India. Additionally, the population expansion has prompted farmers to employ cutting-edge equipment like harvest robots and soil sensors. Furthermore, “smart harvesting” describes the employment of autonomous farming robots to gather fruits and vegetables with little to no assistance from humans. Additionally, implementing modern technologies aids farmers in boosting output. Additionally, it is anticipated that increased smart harvest system adoption will fuel market expansion.
The need to boost productivity in agriculture worldwide in order to meet the rise in food demand is being put on by the rapid increase in world population. In order to maximise profitability and productivity in less time and at a lower cost, farmers are progressively using smart harvest technologies such harvesting robots, automation, control systems, sensors, and imaging systems. The main element driving demand for indoor agricultural activities and growing use of smart harvesting technologies to reduce labour costs is the scarcity of arable land.
Key Highlights From the Report
Deere & Company disclosed the acquisition of farm management software provider Harvest Profit in November 2020. Customers of Deere & Company may expect enhanced visibility into the profitability of their farms, a forward-looking financial lens, and data to support more informed decisions thanks to the software.
In 2020, the indoor category accounted for the biggest revenue share. It is anticipated that the lack of arable land in developing nations would spur expansion in the indoor farming industry and expand use of robots and smart harvesting technologies.
The projection term is expected to see a high CAGR in revenue growth for the hardware segment. Harvesting robots and autonomous combine harvesters are becoming more popular due to farmers’ preference for improved farm mechanisation.
In terms of revenue, the fruit category dominated the global smart harvest market in 2020. Robotic harvesting is being used in agriculture more and more as a result of rising demand for fruits like apples, oranges, and strawberries on a huge scale. In 2020, North America contributed the greatest revenue share to the global market for smart harvest.
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. are some of the major participants in the international market.
Key players in the market include IBM, Oracle, CA Technologies, Micro Focus, SmartBear Software, SOASTA, Xamarin, Cygnet Infotech, Cavisson Systems, and Cigniti Technologies Limited.
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)
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