Precision Harvesting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Precision Harvesting Market - Snapshot
Increased farm mechanization in various developing nations in Asia Pacific and Africa, increased use of autonomous combine harvesters and harvesting robots, and rising labor costs due to a scarcity of trained personnel are the primary drivers of the global Precision Harvesting market. Important growth factors likely to foster growth of the market include growing use of automated combine harvesters as well as harvesting robots and greater mechanization of farms in developing countries of Asia Pacific and Africa. In addition, rising cost of labor due to a shortage of skilled personnel are likely to add to the development of the market. Precision harvesting entails integrating new technology into conventional farming techniques in order to improve production's effectiveness and quality of product. They increase farm workers' standard of living by minimizing hard labor and tiresome duties. The method entails gathering of field data in order to improve the whole procedure of harvesting allowing for real-time geo-tracking of loading, picking, sweeping, and shaking operations.
Because of the widespread use of automation and control equipment like yield monitors, sensors, GPS, and guidance and steering systems are likely to account for the highest share in the market. In the yield monitoring procedure, hardware like sensors and GPS devices are critical. The population of the world is predicted to rise by 2.2 Bn people in the forthcoming years. At the very same time, rapid urbanization, pollution, and soil degradation are the reasons for depletion of land and water resources. This complete picture has radically changed methods of traditional food production, pushing farmers to use precise harvesting techniques in order to produce more. These factors are expected to foster development of the global precision harvesting market in the years to come. Increased global demand for food products, increased agricultural productivity and profitability, and reduced loss of crop during harvesting operations are expected to boost the industry in the forthcoming.
Precision Harvesting Market - Notable Developments
Some of the most prominent competitors operating in the competitive landscape of global precision harvesting market include –
Favorable Government Reforms to underpin growth in precision Harvesting market
Precision farming leverages satellite technology that allows real-time management of fields, crops, and animals, which helps farmers in monitoring and reducing the environmental impact of farming. This has been widely supported by government organizations in many countries. For instance, this technology was underlined by the European Innovation Partnership for Agricultural Productivity and Sustainability. This partnership was launched in 2012 by the European Commission (DG AGRI), and is aimed at contributing to the European Union's 'Europe 2020' strategy for sustainable, smart, and inclusive growth, wherein precision farming plays a vital role.
Corn Application to Bring Highest Gains in Precision Harvesting Market
Precision harvesting has been witnessing growing traction for crop harvesting, especially for corn harvesting. The utilization of precision harvesting solutions for harvesting corn is higher than other crops, due to the growing adoption of innovation in harvesting equipment and burgeoning need to automate corn, farms due to lack of skilled labor. Crop harvesting relies on devices, including a computer, GIS, GPS, and sensor technologies to precisely measure the amount of crop harvested at a particular time and location.
Lack of Awareness Restricting Growth in Precision Harvesting Market
The awareness and knowledge regarding newer technologies in the agriculture industry are yet to spread extensively, mainly in the emerging countries. The lack of awareness about the value proposition linked to precision agriculture is limiting the chance of stakeholders to expand in emerging regions. However, some leading players in precision harvesting market are taking initiatives to show farmers the investment returns on a small scale, in order to increase awareness and drive adoption of precision harvesting systems.
Developed Regions Dominate Precision Harvesting Market
Developed regions, such as Europe and Americas are expected to remain lucrative markets for stakeholders. The burgeoning mechanization in European farms is a primary factor favoring growth in the precision harvesting market in this region. This growing demand for precision agriculture solutions, such as harvesting precision in Europe can be attributed to the growing demand for food supplies to feed the expanding population, accelerating smart greenhouse farming, farm labor expenses and related challenges, and broader automation in different parts of the agriculture sector. The US and Canada are early adopters of precision harvesting technologies due to which Americas will also continue to remain a catalyst for growing demand for precision harvesting solutions. Farmers in this region are increasingly utilizing high-tech harvesting equipment and systems, which is likely to provide an impetus to the growth of precision harvesting market.
Precision Harvesting Market- Segmentation
Based on product, the precision harvesting market is segmented into,
Based on application, the precision harvesting market is segmented into,
Based on offering, the precision harvesting market is segmented into,
Offering (Hardware - Sensors, GPS, Yield Monitors, Software, Services),
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