Precision Harvesting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Precision farming techniques, such as precision harvesting are gaining traction as the agriculture sector is facing notable challenges due to which farmers are facing pressure for profit margins. Farmers are looking for effective ways to boost production in a cost-effective manner. 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.
Precision harvesting technology holds the potential to revolutionize the agriculture industry positively, as it can make conventional methods of harvesting economical and efficient. The burgeoning worldwide food demand, increased crop yield, in tandem with minimal crop wastage at the time of harvesting, are some of the key factors driving the growth in precision harvesting market. Furthermore, favorable government efforts and initiatives in various countries are aiding farmers adopt high-tech agricultural tools to expand yield and make profits. The global precision harvesting market is estimated to be valued at nearly US$ 10 billion in 2018.
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),
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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