Smart Harvest Market to Grow with a CAGR of 8.55% through 2028
Increasing urbanization and increasing implementation
of internet of things (IoT) integration in farming practices is expected to
drive the Global Smart Harvest Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Smart
Harvest Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Smart Harvest Market stood at USD 14.78 Billion in 2022 and is
anticipated to grow with a CAGR of 8.55% in the forecast period, 2024-2028. The global Smart
Harvest Market is primarily driven by several key factors. There is the
increasing adoption of automation and control devices due to labor shortages
and the need for efficient farming operations. The growing preference for
healthy and fresh food products by consumers is pushing the demand for smart
harvesting techniques that ensure the nutritional quality of harvests.
Additionally, technological advancements in the field
of agriculture, such as Internet of Things (IoT), Artificial Intelligence (AI),
and machine learning, have led to the development of innovative harvesting
solutions. Moreover, government initiatives to modernize the agriculture sector
and promote the use of sustainable farming practices have further propelled the
growth of the market. The increasing need for food security due to the rising
global population is a significant driver for the adoption of smart harvest
technologies.
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The scope of the Global Smart Harvest Market extends
across various sectors in agriculture, integrating advanced technologies like
Artificial Intelligence (AI), Internet of Things (IoT), and robotics. These
cutting-edge technologies are revolutionizing the way crops are harvested and
processed, bringing forth a new era of efficiency and productivity in the
agricultural industry. With AI-powered systems, farmers can optimize harvesting
schedules based on crop maturity, weather conditions, and market demand,
ensuring that the right crops are harvested at the right time. This not only
maximizes yield but also minimizes waste, contributing to sustainable farming
practices. Furthermore, IoT sensors enable real-time monitoring of crop health,
detecting diseases or nutrient deficiencies early on. By identifying and
addressing these issues promptly, farmers can prevent crop damage and improve overall
yield and quality.
Robotic automation plays a vital role in streamlining
the sorting, packing, and transportation processes. With robotic systems, tasks
that were once labor-intensive and time-consuming are now performed with
precision and efficiency. This not only reduces the need for manual labor but
also increases operational speed and accuracy, ultimately reducing costs and
ensuring the timely delivery of produce to market. The market for smart
harvesting technologies encompasses various regions worldwide, including both developed
countries like the United States and developing regions like Asia-Pacific. In
the United States, the adoption of smart harvesting technologies has gained
traction due to labor shortages in the agriculture industry and the increasing
demand for high-quality produce. By leveraging advanced technologies, farmers
in the United States can overcome labor limitations and meet the rising demand
while maintaining product quality and freshness.
In Asia-Pacific, where small-scale farming is
prevalent, smart harvesting solutions offer an opportunity to improve
productivity and ensure food security. These technologies provide small-scale
farmers with access to advanced tools and techniques that can enhance their
efficiency and yield. By harnessing the power of AI, IoT, and robotics, farmers
in the Asia-Pacific region can achieve higher crop yields, optimize resource
utilization, and contribute to sustainable farming practices. The global smart
harvest market is driven by various factors, including labor shortages, rising
demand for quality produce, and the need for sustainable farming practices. As
the global population continues to grow, the demand for food is expected to
increase significantly. Smart harvesting technologies provide a promising
pathway to meet this demand while minimizing environmental impact and promoting
sustainable agriculture. By optimizing resource utilization, reducing waste,
and embracing innovative technologies, farmers can play a crucial role in
preserving the planet for future generations.
The Global Smart Harvest Market is segmented into component,
site of operation, crop type, regional distribution, and company.
Based on site of operation, the On-Field segment is
currently leading the Global Smart Harvest Market primarily due to the
increasing adoption of automated harvesting robots and systems. These
technologically advanced tools offer significant advantages including improved
efficiency, reduced labor costs, and the capability to work under diverse
environmental conditions. Moreover, they are designed to perform tasks such as
picking, pruning, and weeding, which are typically labor-intensive and
time-consuming. By integrating smart harvest technologies on the field, farmers
can maximize yield and enhance productivity, thereby propelling the growth of
this market segment.
These automated harvesting robots and systems are
equipped with state-of-the-art sensors and artificial intelligence algorithms
that enable them to identify ripe produce with precision and delicately harvest
them without causing any damage. The robots can navigate through the fields
autonomously, avoiding obstacles and adjusting their movements according to the
changing terrain conditions. This not only saves valuable time for farmers but
also reduces the risk of crop loss due to mishandling during the harvesting
process. The On-Field segment's leadership in the Global Smart Harvest Market
is driven by the adoption of automated harvesting robots and systems that
provide improved efficiency, reduced labor costs, and the capability to work
under diverse environmental conditions. By integrating smart harvest
technologies, farmers can maximize yield, enhance productivity, and promote
sustainable farming practices, thereby propelling the growth of this market
segment.
Based on region, Europe has witnessed a remarkable
surge in the adoption of smart harvesting technology, driven by a multitude of
factors. One of the primary catalysts behind this trend is the region's
unwavering commitment to sustainable farming practices, which has propelled
farmers to explore innovative solutions to maximize productivity while
minimizing environmental impact. Moreover, Europe's strong inclination towards
technology adoption in agriculture has further fueled the uptake of smart
harvesting techniques. European farmers, increasingly cognizant of the
advantages bestowed by smart technologies, have embraced these cutting-edge
tools to optimize their operations. By leveraging smart harvesting technology,
farmers have witnessed a host of benefits, including substantial improvements
in crop yield, effective reduction of waste, and judicious utilization of
resources. These advancements not only elevate the overall efficiency of
farming practices but also contribute to the long-term viability and sustainability
of the agriculture sector in Europe.
Furthermore, the robust support from European Union
policies has played a pivotal role in fostering the integration of innovative
farming techniques. Recognizing the significance of food security, climate
change mitigation, and the preservation of the European agriculture sector's
competitiveness, the European Union has championed policies that encourage the
adoption of smart technologies in farming. This proactive approach not only
ensures a more secure and sustainable food supply but also positions European
farmers at the forefront of agricultural innovation, empowering them to tackle
the challenges posed by an evolving global landscape.
Major companies operating in Global Smart Harvest Market
are:
- Robert Bosch GmbH
- Deere & Company
- Smart Harvest Ltd.
- Dogtooth Technologies Limited
- Harvest Automation, Inc.
- Root AI, Inc.
- Iron Ox, Inc.
- FFRobotics Ltd.
- Vision Robotics Corp.
- Harvest CROO, LLC
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“The future of the Global Smart Harvest Market is set
to be bright and robust, largely propelled by technological advancements and
the increasing demand for precision agriculture. With the continual growth of
the global population, the call for efficient farming technologies is
forecasted to escalate, fostering the expansion of the Smart Harvest Market.
Technological innovations, including AI-driven harvesting robots, crop sensors,
and state-of-the-art climate prediction models are set to be key influencers,
boosting productivity and minimizing waste. The overall market perspective
remains optimistic, unlocking abundant opportunities for sector players. With
the integration of technology and farming, the Smart Harvest Market is poised
to redefine the agriculture industry, promising a future of sustainability and
efficiency.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Smart Harvest Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028
Segmented By Component (Hardware {Automation & Control
Systems, Sensors, Imaging Systems, Harvesting Robots} and Software) By Site of
Operation (On-Field, Greenhouse, Indoor) By Crop Type (Fruits and Vegetables), By Region and Competition”, has evaluated
the future growth potential of Global Smart Harvest Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Smart Harvest Market.
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