The global precision harvesting market size was valued USD 11.4 billion in 2020 and is estimated to expand at a CAGR of 8.5% during the forecast period, 2021–2028. The growth of the market is attributed to the rising adoption of independent unite picker and gleaning robots.
Precision harvesting is competent to change the conventional agriculture sector in harvesting. This type of harvesting involves in integration of advanced machinery into existing agricultural applications to improve production efficiency and crop yield. This process also includes gathering of field data to optimize the farming process and enables real-time and loading activities.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for solutions to minimize the crop wastage is anticipated to fuel the growth of the market.
- Growing adoption of harvesting robots in greenhouse and horticulture is expected to propel the market growth.
- Lack of skilled worker is estimated to drive the growth of the market.
- Expanding awareness regarding benefits of precision harvesting such as cost-effectiveness and improving the productivity is expected to spur the growth of the market.
- Time-consuming process of deploying autonomous harvesting systems can create challenges for the market.
- Rising assuming of Harvesting Robots and want of normalization in and Safety Issues with precision harvesting.
Scope of the Report
The report on the global precision harvesting market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Global Precision Harvesting Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Products (Combine Harvesters, Harvesting Robots, and Self-propelled Forage Harvesters), Applications (Crops, Greenhouse, Horticulture, and Others), Offerings (Hardware [Automation & Control Systems, Sensing Devices, and Others], Software, and Services)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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AGCO Corporation; Trimble Inc.; Deere & Company; AgJunction Inc.; Raven Industries, Inc.; AG Leader Technology, Inc.; FFRobotics; Precision Planting LLC; and Abundant Robotics, Inc.
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Global Precision Harvesting Market Segment Insights
Combine harvesters segment is expected to grow at a rapid pace
Based on products, the market is divided into combine harvesters, harvesting robots, and self-propelled forage harvesters. The combine harvesters segment is expected to grow at a rapid pace during the forecast period. Rising demand for food is anticipated to fuel the market growth. Moreover, increasing adoption of connected associate harvesters along with integration of 3D cameras, sensors, GPS, yield monitoring systems are the major drivers of the market segment.
Greenhouse segment to hold a significant market share
On the basis of applications, the precision harvesting market is segregated into crops, greenhouse, horticulture, and others. The greenhouse segment is anticipated to account for a significant market share during the forecast period. Growing requirement for analytics software to provide guidance to farmers about crop rotation, optimal planting time, soil management, and harvesting time in greenhouse is spurring the market segment growth.
Services segment to exhibit a robust CAGR
In terms of offering, the market is segmented into hardware, software, services. The services segment is estimated to grow at a robust pace during the forecast period. Rising adoption of service providers that automate the farming practice and integrate the software and required products is expected to foster the market segment.
North America is anticipated to constitute a key market share
In terms of regions, the global precision harvesting market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period due to rising organization inventiveness for the adoption of modern developed infrastructure and agriculture technologies. Moreover, rising labor costs due to the shortage of experienced workers is fueling the regional market growth.
Segments
The Global Precision Harvesting Market has been segmented on the basis of
Products
- Combine Harvesters
- Harvesting Robots
- Self-propelled Forage Harvesters
Applications
- Crop
- Greenhouse
- Horticulture
- Others
Offerings
- Hardware
- Automation & Control System
- Sensing Devices
- Others
- Software
- Services
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- AGCO Corporation
- Trimble Inc.
- Deere & Company AgJunction Inc.
- Raven Industries, Inc.
- AG Leader Technology, Inc.
- FFRobotics
- Precision Planting LLC
- Abundant Robotics, Inc.
Competitive Landscape
Key players competing in the Global Precision Harvesting Market are AGCO Corporation; Trimble Inc.; Deere & Company; AgJunction Inc.; Raven Industries, Inc.; AG Leader Technology, Inc.; FFRobotics; Precision Planting LLC; and Abundant Robotics, Inc.
Major industry players are focusing on strategies such as acquisitions, mergers, collaborations, product developments, partnerships, and expansions to expand their market share.
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