Precision Harvesting Market By Component (Combine Harvesters, Harvesting Robots, Self-Propelled Forage Harvesters), By Application (Crop, Horticulture, Greenhouse), By Offering (Hardware, Software, Services), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Introduction

The Global Precision Harvesting Market is expected to grow at a CAGR of roughly 13.6% over the next ten years and will reach USD 35.08 Bn in 2032, from USD 9.8 Bn in 2022.

Precision harvesting entails the integrating of innovative technologies into current farming processes in order to improve production efficiency and quality. They increase farmworkers’ quality of life by minimizing hard labor and monotonous activities. The method entails gathering field data in order to optimize a complete harvesting process, allowing for real-time geo-tracking of shaking, picking, sweeping, and loading operations.

Detailed Segmentation –

The global precision harvesting market is segmented on the basis of – Product Type, Application, Offering, and Region. The detailed segmental description is represented below:

Based on Product Type:

• Combine Harvesters
• Harvesting Robots
• Self-Propelled Forage Harvesters

Based on Application:

• Crop
• Horticulture
• Greenhouse
• Other Applications

Based on Offering:

• Hardware
• Software
• Services

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics –

Drivers for the Global Precision Harvesting Market:

The precision harvesting industry is being propelled by increasing farm mechanization, greater awareness of The Internet of Things (IoT) devices, and improved analytics data among farmers. The widespread use of harvesting robots in greenhouse and horticulture applications, as well as the adoption of precision harvesting to boost productivity with a fully integrated harvest solution, and the acceptance of proven technologies for all harvesting needs are anticipated to have a positive impact on this global market.

Moreover, the use of Information Technology (IT) in farm management, in order to ensure that both crops and soil receive the appropriate amount of assistance at the right time, the increased inclination toward this technology to improve profitability, productivity, sustainability, and environmental protection, and the deployment of specialized equipment, software, as well as the use of IT services accessing real-time information concerning crops and soil. These are certain factors that will help augment this target market in the years to come.

Restraints for the Global Precision Harvesting Market:

The global precision harvesting market’s revenue growth is projected to be hampered by the high initial costs associated with purchasing and integrating these devices. This market is expected to face challenges in the forecast period due to a lack of market penetration and the necessary skills needed by farmers to completely integrate precision harvesting and agriculture solutions are elements that are slated to have a negative impact on the revenue growth of this global industry.

Opportunities for the Global Precision Harvesting Market:

The global precision harvesting market is expected to benefit from greater awareness levels concerning the Internet of Things (IoT) devices, government support initiatives, the promotion of the adoption and usage of contemporary agriculture techniques, as well as the increasing acceptance of mechanized labor techniques in agriculture. Furthermore, in the future, various advances in agricultural practices are expected to provide profitable prospects for various precision harvesting market players.

Competitive Landscape –

Key players in the market are –

• Pellenc
• KUBOTA Corporation
• ISEKI & CO LTD.
• Harvest Automation
• Vision Robotics Corporation
• FFRobotics and HARVEST CROO.
• TEEJET TECHNOLOGIES
• Topcon
• DICKEY-john
• CNH Industrial N.V.
• Ploeger Oxbo Group N.V.
• Dewulf S.A.
• Clean Seed Capital
• Deere & Company
• Trimble Inc.
• AgJunction
• Raven Industries
• CLAAS KGaA mbH
• Ag Leader Technology
• others

Key developments –

2020:

• In January 2020, CropMetrics LLC was acquired by CropX Inc., an agricultural analytics firm specializing in advanced agronomic solutions, to provide customers with a combination of farm management analytics, in-soil data, and decision-support tools.

2019:

• Raven Industries Inc. announced in November 2019 that it had acquired a technology firm Smart Ag Inc., that creates autonomous farming solutions for agriculture, to become the market leader in this field.
• In April 2019, Trimble Inc. announced the development of its precision agriculture footprint in India, with the goal of covering key Indian states with laser-leveling solutions by 2020.

2018:

• In December 2018, AgJunction had announced the launch of the HandsFreeFarm.com online store, which directly provides precision agriculture solutions to farmers.
• In November 2018, Ag Leader announced the launch of GNSS smart antenna, a portable device that enables innovative precision agriculture guiding and steering solutions.

For the Precision Harvesting Market research study, the following years have been considered to estimate the market size: