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Global Smart Harvest Market Report 2022 to 2027: High Adoption of Smart Agriculture Techniques to Optimize Crop Yield is Driving Growth
Global Smart Harvest Market
Dublin, Nov. 21, 2022 (GLOBE NEWSWIRE) -- The "Smart Harvest Market - A Global and Regional Analysis: Focus on Product and Application, Value Chain, and Country Analysis - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global smart harvest market was valued at $8,380.0 million in 2021 and is projected to reach $16,850.0 million by 2027, growing at a CAGR of 12.50% during the forecast period 2022-2027.
The growth in the global smart harvest market is expected to be driven by the increasing adoption of smart agriculture practices, labor shortage in agriculture farms, and increasing need for sustainable agriculture.
Market Lifecycle Stage
The smart harvest market is in the introductory growth phase. Increased research and development activities in agriculture, rising awareness of tech-based farming, and shortage and aging of agricultural workers in many countries are expected to increase the demand for smart harvesters such as robotic harvesters and automated tractors among farmers and other agriculture companies. Increasing crop production costs and increasing need for workforce automation are further supporting market growth.
Increasing adoption of robotic technology in agriculture practice and the implementation of several sensors as well as 3D imaging in smart farms are some of the major opportunities in the global smart harvest market. Moreover, the smart harvest market has huge opportunities in the Asia-Pacific region since most of the countries located in this region have huge agricultural sectors, which contribute to the nation's GDP.
Impact
North America generated the highest revenue of $2,290.0 million in 2021, which is expected to reach $4,540.0 million by 2027. The region has been experiencing rapid growth in the smart farming industry in the past few years owing to increasing technological advancements and increasing government support for the usage of smart equipment. Owing to several benefits of smart farming, farmer and growers in this region are adopting different technologies on their farms, such as GPS, drones, robots, smart controllers, monitors, and others. All these factors are further influencing the market growth of smart harvest technologies in North America.
Furthermore, Europe generated a revenue of $1,740.0 million in 2021 and is expected to grow at a CAGR of 10.37% from 2022 to 2027. High revenue generation was majorly attributed to increasing the use of smart farming systems and increasing investments from the European Commission for IoT-based smart farming. Most of the growth is expected to be driven by Eastern Europe countries in the forecast period.
Recent Developments in Global Smart Harvest Market
In June 2022, Dogtooth Technologies introduced its latest fleet of strawberry-harvesting robots, mainly in the U.K. and Australia, to ease growers' labor woes.
In November 2021, Iron Ox launched Grover, an all-new autonomous mobile robot. Grover is a durable, hygienic as well as highly capable autonomous mobile robot that allows Iron Ox to save water, land, and energy.
In November 2021, Fieldin acquired Midnight Robotics to advance its autonomous platforms. This acquisition was aimed at creating a brand-new sensor-based platform with driving technologies to improve the day-to-day management of the farm.
In February 2019, OCTINION launched a strawberry-picking robot named Rubion. Rubion navigates through the strawberries, detects the ripe ones, picks the fruits without bruising, and places them in its punnet.
Demand - Drivers and Limitations
Following are the demand drivers for the smart harvest market:
High Adoption of Smart Agriculture Technique to Optimize Crop Yield
Need for Reducing Crop Production Cost
Lack of Sufficient Workforce
The market is expected to face some limitations due to the following challenges:
High Cost of Smart Harvesting Equipment
Less Adoption among Small-Scale Farmers
Technical Complexities Affecting Smart Harvest Adoption
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The key market players are offering smart harvesters for controlled environment agriculture and on-filed agriculture. Autonomous tractors and smart harvesters are used on-field for harvesting crops such as cotton, nuts, wheat, hemp, and others. These harvesters are fully automated and can automatically set harvesting schedules by collecting data from different software regarding the maturity of crops.
Sometimes only one human labor is required along with the robotic harvester during the harvesting cycle. Apart from saving the cost of labor, there are several advantages of using robotic harvesting. The on-field segment captured about 55.56% share in the global smart harvest market in 2021.
Also, controlled environment agriculture captured about 44.44% share in the global smart harvest market. Indoor farms, aquaponic and hydroponic farms, vertical farms, greenhouses, nurseries, and hybrid farms come under controlled environment agriculture.
Most of these farms run with the help of artificial lights, humidifiers, sprinklers, controllers, monitors, drones, and robots. Since farmers and growers are looking for sustainable ways of agriculture, indoor farming or tech-based farming is gaining popularity. To reduce operational costs, these farms prefer robots to human labor for their operation. Hence, harvesting robots are quite beneficial for these farms.
Some of the established players in this market are:
Controlled Environment Agriculture: Companies Offering Smart Harvesters
Agrobot
Harvest Automation
Iron Ox
Dogtooth Technologies Limited
MetoMotion
Mycionics Inc.
Panasonic Holdings Corporation
TORTUGA AGRICULTURAL TECHNOLOGIES, INC.
On-Field: Companies Offering Smart Harvesters
AVL Motion B.V.
Harvest CROO
Cerescon BV
Deere & Company
Energid Technologies Corporation
FFRobotics
Ripe Robotics
Robert Bosch GmbH
Vision Robotics Corporation
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 High Adoption of Smart Agriculture Technique to Optimize Crop Yield
1.2.1.2 Need for Reducing Crop Production Cost
1.2.1.3 Lack of Sufficient Workforce
1.2.2 Business Challenges
1.2.2.1 High Cost of Smart Harvesting Equipment
1.2.2.2 Less Adoption among Small-Scale Farmers
1.2.2.3 Technical Complexities Affecting Smart Harvest Adoption
1.2.3 Market Strategies and Developments
1.2.3.1 Business Strategies
1.2.3.1.1 Product Development
1.2.3.2 Corporate Strategies
1.2.3.2.1 Mergers and Acquisitions
1.2.3.2.2 Partnerships, Joint Ventures, Collaborations, and Alliances
1.2.3.2.3 Others
1.2.4 Business Opportunities
1.2.4.1 Increasing Adoption of Robotics Technology in Harvesting
1.2.4.2 Increased Focus on Sustainable Agriculture Production
1.3 Investment Landscape
1.3.1 Key Startups in the Ecosystem
1.3.2 Investment and Funding Analysis
1.3.2.1 Investment and Funding Analysis by Company
1.3.2.2 Investment and Funding Analysis by Country
1.4 Impact of COVID-19 on Global Smart Harvest Market
2 Application
2.1 Global Smart Harvest Market (by Application)
2.1.1 Market Overview
2.1.2 Site of Operation
2.1.2.1 On-Field Agriculture
2.1.2.2 Controlled Environment Agriculture
2.1.2.2.1 Greenhouses
2.1.2.2.2 Indoor Farms
2.1.3 Crop Type
2.1.3.1 Fruits
2.1.3.2 Vegetables
2.1.3.3 Others
2.2 Demand Analysis of the Global Smart Harvest Market (by Site of Operation)
2.2.1 Demand Analysis of the Global Smart Harvest Market (by Controlled Environment Agriculture)
2.3 Demand Analysis of the Global Smart Harvest Market (by Crop Type)
3 Products
3.1 Global Smart Harvest Market (by Product)
3.1.1 Hardware
3.1.1.1 Robotic Element
3.1.1.2 Automation and Control System
3.1.1.3 Sensing and Imaging System
3.1.1.4 Other
3.1.2 Software
3.1.3 Service
3.2 Demand Analysis of the Global Smart Harvest Market (by Product)
3.2.1 Demand Analysis of the Global Smart Harvest Market (by Hardware)
3.3 Value Chain Analysis
3.4 Patent Analysis
3.4.1 Patent Analysis (by Status)
3.4.2 Patent Analysis (by Patent Office)
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Market Share Analysis
5.3 Company Profiles
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/ysbjy1
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