Market for Smart Harvest Systems Is Predicted to Reach US$ 40 Billion by 2033

Rockville, United States, 2023-Jun-22 — /EPR Network/ —

The global smart harvest market is expected to develop at an excellent CAGR of 11% from 2023 to 2033, from a market size of US$ 14 billion in 2023 to US$ 40 billion by 2033.

The world’s population has been gradually growing for decades, which has resulted in significant changes in people’s needs and lifestyles. As the world’s population rises, the agriculture sector is being put under more and more stress. Farmers are receiving a lot of help from technology as they try to meet the growing population’s food needs. Since the implementation of technologically propelled equipment and methods in agriculture and its related industries, farmers have witnessed enormous profit and increased productivity.

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Key Takeaways from Market Study

• The global smart harvest market is valued at US$ 14 billion in 2023.
• Worldwide demand for smart harvest technologies is anticipated to surge at a CAGR of 11% from 2023 to 2033 (forecast period).
• The global market is estimated to garner US$ 40 billion by 2033.
• The European market is projected to expand at a CAGR of 7.3% during the forecast period.
• The fruits segment is predicted to witness considerable growth from 2023 to 2033.

“The global smart harvest market is expanding swiftly due to increasing global population, limited availability of arable land, labor shortage in agriculture farms, and rising demand for smart technologies in agricultural equipment,” says a Fact.MR analyst.

Competitive Landscape:

Key players in the smart harvest market are focusing on collaborations, investments, new developments, and acquisitions to obtain market share and expand their global reach. Furthermore, many start-ups are entering the global market.

• Fasal, an Indian start-up, concentrates on providing customers with real-time farming data. Fasal can help its customers make the best farming decisions by sensing the environment and crop conditions and using machine learning to convert the sensing data into helpful farming predictions.
• Agdhi, a start-up based in India, assists in the detection of seed defects, the diagnosis of crop diseases, and the formation of farmer networks. By linking connected devices to seeds and crops, Agdhi utilizes AI and computer vision technologies to identify faulty seeds or crops and relay the data back to mobile apps, allowing customers to better manage their farming operations.
• Dogtooth Technologies debuted its latest fleet of strawberry-harvesting robots in June 2022, primarily in Australia and the United Kingdom, to alleviate growers’ labor concerns.
• Grover, an all-new autonomous mobile robot, was introduced by Iron Ox in November 2021. Grover is a hygienic, long-lasting, and highly competent autonomous mobile robot that helps save energy, water, and land.
• Fieldin absorbed Midnight Robotics in November 2021 to enhance its autonomous platforms. This acquisition sought to build a brand-new sensor-based platform with driving technologies to improve farm management on a daily basis.

Key Segments of Smart Harvest Industry Research:

·         By Crop Type :

• Fruits
• Vegetables

·         By Component :

• Harvesting Robots
• Automation & Control Systems
• Imaging Systems
• Sensors
• Software

·         By Site of Operation :

• Indoor
• On-field
• Greenhouse

·         By Region :

• North America
• Latin America
• Europe
• Asia Pacific & China
• Middle East & Africa

Regional Analysis

Europe is leading the worldwide market. Over the last few years, Europe has seen widespread use of smart harvesting technologies. The United Kingdom and Germany are significantly supporting the market growth in Europe. Moreover, Asia Pacific and North America are following Europe in terms of growth.

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Questionnaire answered in the Market outlook Report of Smart Harvest include:

• What is the key strategy deployed by large players to maximize Smart Harvest growth?
• What are the main challenges faced by players in the Smart Harvest Demand?
• With the advent of technological advancement, how will the Smart Harvest landscape change over the forecast period?
• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Smart Harvest size?

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