Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Smart Harvest Market market.
Trusted Business Insights presents an updated and Latest Study on Smart Harvest Market Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Smart Harvest Market market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Global Smart Harvest Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028 is a recent report generated by Trusted Business Insights. The global smart harvest market report has been segmented on the basis of site of operation, crop type, component, and region.
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Global Smart Harvest Market: Overview
Smart harvesting means autonomous harvesting robots that harvest vegetables and fruits with little or no manual intervention. Smart harvest systems involve the adoption of artificial intelligence (AI), satellite imagery, cloud machine learning, GPS, and advanced analytics. Harvesting uses various smart devices to increase output.
Global Smart Harvest Market: Dynamics
The major factor driving the smart harvest market is the increasing adoption of new technologies in farming for maximum production and profitability. Furthermore, technological advancements in farming along with increasing government support on new technology deployments are expected to have a positive influence on the smart harvest market. In January 2018, for instance, Panasonic Corporation (Japan) introduced a fully autonomous tomato-picking robot in Tokyo. In addition, rising demand for food and vegetables due to the rise in population along with the increasing pressure on farmers to increase yield capacity are anticipated to drive the target market over the next ten years.
High-growth opportunities for simpler harvest technologies in emerging economies, integration AI and big data in farming and automated harvesting robots for precision farming are expected to create a new opportunity for players operating in the target market. In September 2018, US-based Energid Technologies Corporation launched a new software development kit (SDK) and framework version of its Actin software -Actin 5. It is designed for navigation, monitoring, control, and other functions without compromising the overall effectiveness.
However, the high cost of installation of smart harvest technologies may hamper growth of the smart harvest market. In addition, limited technical knowledge possessed by farmers is expected to restrain market growth over the forecast period.
Global Smart Harvest Market: Segment Analysis
Among the site of operation segments, the on-field systems segment is projected to account for major revenue shares in the global market.
Among the crop type segments, the fruit segment registered a substantial growth rate. Smart harvest technologies are capable of harvesting a variety of fruits including strawberries, apples, oranges, and lemons.
Among the component segments, the hardware segment dominates the global market and expected to witness considerable growth over the forecast period. The hardware segment includes automation and control systems, harvesting robots, imaging systems, and sensors.
Global Smart Harvest Market: Region Analysis
The market in the Asia Pacific is expected to account for major share in terms of revenue in the global market, owing to the large scale agricultural production in countries such as China and India. Agro-climatic conditions coupled with the requirement of high-quality agricultural production is expected to drive growth of the target market in the region. In addition, increasing deployment of smart harvest systems is expected to propel growth of the target market. Moreover, increasing research & development activities, government initiatives, and growing export activities are some factors expected to fuel growth of the target market.
Global Smart Harvest Market Segmentation:
Segmentation by Site of Operation:
Segmentation by Crop Type:
Segmentation by Component:
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