A recent report published by Infinium Global Research on smart harvest market provides in-depth analysis of segments and sub-segments in the global as well as regional smart harvest market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart harvest market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global smart harvest market. According to the report, the global smart harvest market is projected to grow at a CAGR of 11.5% over the forecast period of 2019-2025.
Smart harvesting comprises adoption of artificial intelligence (AI), cloud machine learning, GPS, and advanced analytics in farming. Smart harvesting technologies is estimated to gain exponential growth in the near future due to technological advancement in the agriculture sector. The key factor such as the growing emergence of new technologies in farming for increased profitability along with global labour shortage drives the growth of the global smart harvest market. The shortages of labour leading to loss of yield. Moreover, smart harvest systems help farmers to obtain more revenue from the agribusiness. It is estimated that the business-oriented cultivator has been implementing various smart harvest technologies to surge their harvest output. Moreover, the initiative taken by the government to support smart harvest systems is trigged market growth. Besides this, rapid growth in population has led the demand for food across the globe, which in turns, increased the demand of the market. However, high capital investment requires for smart harvesting technologies is one of the factors affects the market growth. Furthermore, improvement in smart harvesting technologies offers significant growth opportunities for the market in the coming few years. According to the University of Cambridge, researchers have developed and tested a machine-learning driven robot to identify and harvest iceberg lettuce.
Geographically, Europe is expected to hold maximum share in the global smart harvest market. The growth of this region is attributed due to high adoption of new technologies. On the other hand, North America and Europe have a large number of manufacturers in the smart harvest industry. Asia- Pacific is expected to be the fastest-growing a region in smart harvest market over the forecast period. The presence of a robust agriculture sector in this region along with growing awareness regarding smart harvesting technologies is likely to contribute the market growth in the Asia-Pacific region.
The report on global smart harvest market covers segments such as site of operation, component, and crop type. On the basis of site of operation, the sub-markets include indoor, greenhouse, and on-field. On the basis of component, the sub-markets include sensors, imaging systems, harvesting robots, automation & control systems, and software. On the basis of crop type, the sub-markets include vegetables, and fruits.
The report provides profiles of the companies in the market such as Vision Robotics Corporation, FFrobotics, Energid Technologies, Iron Ox, Inc., Abundant Robotics, Inc., Panasonic Corporation, Harvest Automation, Inc., Dogtooth Technologies, Smart Harvest Ltd, John Deere, Robert Bosch GmbH, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart harvest market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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