Smart Harvest Market – Introduction
- The growing demand for food due to the rising population globally has put immense pressure on farmers to increase crop yield. But the shortage of labor in agricultural fields is leading to less harvest. Farmers are therefore using smart devices to expand their production capacity. The increasing adoption of latest technologies in farming for maximizing profitability is helping in the growth of the smart harvest market.
Key Drivers of the Smart Harvest Market
- Increasing labor shortage due to the cost factor has a positive impact on the smart harvest market. Also, governments in developing countries across the globe are taking initiatives and encouraging farmers to adopt smart harvesting systems. Further, demand for harvesting robots, automation, sensors, control systems, and imaging systems is expected to increase with advancement in technology, which further helps in the growth of the smart harvest market.
- Smart harvest systems help farmers to increase production capacity and profitability by adopting latest technologies. It is also cost efficient as it reduces labor overheads and enables optimal use of resources. This factor further drives the demand for smart harvest systems.
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Factors Restraining the Smart Harvest Market
- Smart harvest systems require extensive technical knowledge and skills. However, many farmers do not have these skills, and finding someone with technical ability is difficult and even expensive. This factor discourages many farmers from adopting smart harvest systems. Additionally, the high cost of installation of smart harvest technologies hampers the growth of the smart harvest market. Demand for smart harvest systems also declined in 2022 due to the lockdown and other government imposed restrictions because of the COVID-19 pandemic.
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Europe to Hold Leading Share of the Global Smart Harvest Market
- In terms of region, the global smart harvest market can be divided North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the smart harvest market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The smart harvest market in South America is segmented into Brazil and Rest of South America.
- Europe dominated the global smart harvest market in 2022, due to increasing adoption of advanced harvesting technologies in the region. Increasing population has been driving the smart harvest market in Europe, particularly in the UK, Germany, and France.
- The smart harvest market in Europe is projected to expand at a rapid pace, followed by Asia Pacific and North America during the forecast period.
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Key Players Operating in the Smart Harvest Market
The global smart harvest market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global smart harvest market are:
- Robert Bosch GmbH
- Deere & Company
- Smart Harvest Agritech Ltd.
- Harvest Automation
- Panasonic Corporation
- Root AI
- Abundant Robotics, Inc.,
- Harvest CROO Robotics LLC
Global Smart Harvest Market: Research Scope
Global Smart Harvest Market, by Component
Global Smart Harvest Market, by Crop Type
Global Smart Harvest Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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