Smart Harvest Market to Grow at CAGR of 8.76% through 2029
Rising
incidence of preterm births and government initiatives to provide better care
for prenatal and neonatal infants is expected to drive the Global Smart Harvest
Market growth in the forecast period, 2025-2029.
According
to TechSci Research report, “Smart Harvest Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2019-2029F”,
the Global Smart Harvest Market stood at USD
4.78 Billion in 2023 and is expected to reach USD 7.84 Billion by
2029 with a CAGR of 8.76% during the forecast period.
Government support and subsidies are pivotal in accelerating the growth of the Global Smart Harvest Market. Recognizing the critical role of modernizing agricultural practices to enhance food security and sustainability, many governments worldwide are actively involved in promoting the adoption of advanced agricultural technologies. These efforts are crucial for addressing the challenges associated with increasing food demand and environmental concerns. One of the primary ways governments support the adoption of smart harvesting technologies is through financial incentives and subsidies. By offering grants and subsidies, governments help to alleviate the significant initial investment costs that often deter farmers and agricultural businesses from adopting new technologies. These financial incentives make it more feasible for farmers to invest in state-of-the-art harvesting equipment and systems, thereby accelerating the transition to more efficient and sustainable agricultural practices.
In addition to direct financial support, government policies that promote research and development (R&D) in agricultural technology play a vital role in driving market growth. Many governments fund research initiatives aimed at developing new technologies and improving existing ones. This support helps advance innovation in smart harvesting solutions, ensuring that these technologies continue to evolve and become more effective. By fostering a conducive environment for technological advancement, governments are enhancing the capabilities and performance of smart harvesting systems. Government initiatives often include creating frameworks and regulations that encourage the adoption of smart technologies. These policies may involve setting standards for technology implementation, providing technical assistance, and facilitating knowledge transfer between technology providers and end-users. Such measures ensure that farmers and agricultural businesses are well-informed about the benefits and functionalities of smart harvesting technologies, promoting their wider adoption.
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"Global Smart Harvest Market”
The
Global Smart Harvest Market is segmented into site of operation, crop type,
product, regional distribution, and company
Based on product, In
2023, the Robotic Harvester segment emerged as the dominated product type in the
Global Smart Harvest Market. This dominance is primarily due to the advanced
capabilities and growing adoption of robotic harvesters in agricultural
operations. Robotic harvesters are designed to automate the harvesting process
with high precision and efficiency, addressing key challenges such as labor
shortages and the need for increased productivity. The main advantage of
robotic harvesters is their ability to perform repetitive tasks with consistent
accuracy, which is particularly valuable for crops requiring careful handling.
These machines can operate autonomously, utilizing advanced sensors, machine
learning, and computer vision to identify and harvest ripe produce while
minimizing damage. This technology significantly reduces the need for manual
labor, which is increasingly scarce and expensive. Robotic harvesters offer the flexibility to work in various field conditions
and crop types, making them a versatile solution for diverse agricultural
needs. Their ability to integrate with other smart farming technologies, such
as data analytics and real-time monitoring systems, further enhances their
effectiveness.
Based
on region, Europe emerged as the second dominant region in
the Global Smart Harvest Market in 2023. This position is attributable to
several influential factors. Europe has been actively embracing technological
advancements in agriculture, driven by a strong emphasis on sustainable farming
practices and the need to improve agricultural efficiency. The European Union’s
agricultural policies and funding programs play a significant role in promoting
the adoption of smart harvesting technologies. Initiatives aimed at enhancing
productivity and sustainability have supported the deployment of advanced
harvesting solutions across the region. European countries are
investing heavily in research and development, leading to innovations in smart
harvesting technologies that cater to a diverse range of crops and farming
conditions. The
presence of major technology providers and agricultural equipment manufacturers
in Europe has also contributed to its strong market position. Companies in the
region are leading in the development and commercialization of smart harvesting
solutions, including robotic harvesters and dynamic monitoring systems. This
has facilitated widespread adoption and integration of these technologies into
European farming practices.
Major
companies operating in Global Smart Harvest Market are:
- Agrobot
- Dogtooth Technologies Limited
- FFRobotics
- Harvest CROO Robotics LLC
- Advanced Farms Technologies,
Inc
- MetoMotion
- Octinion
- Mycionics Inc
- Tortuga Agricultural
Technologies, Inc
- Organifarms GmbH
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“Rising investment in agricultural technology is a key driver for the Global Smart Harvest Market, with venture capital, private equity, and corporate funding accelerating the development and commercialization of smart harvesting solutions. This financial support is crucial for advancing technology and driving innovations, such as autonomous machinery, advanced sensors, and data analytics systems. Investments from major agritech firms and machinery manufacturers further enhance competitiveness and address market demands. As funding increases, it supports extensive testing, validation, and optimization of these solutions, facilitating their broader adoption across the agricultural sector”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“Smart Harvest Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Site of Operation (On Field, Controlled Environment), By Crop Type (Grain Crops, Fruits and Vegetables, Others), By Product (Robotic Harvester, Smart Harvester, Harvest Dynamic Monitoring), By Region and Competition, 2019-2029F”, 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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