Vietnam Smart Harvest Market - By Component (Hardware, Software); By Site of Operation (On-field, Green House, Indoor); By Crop Type (Fruits, Vegetables), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Vietnam Smart Harvest Market Size More Than Doubles to Touch USD 390 Million by 2029
Vietnam smart harvest market is flourishing because of rising adoption of smart agriculture technique to optimize crop yield, a surging demand for reducing crop production cost, and increasing government initiatives related to modernization of agricultural techniques.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam smart harvest market size at USD 174.02 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Vietnam smart harvest market size to grow at a significant CAGR of 12.38% reaching a value of USD 389.63 million by 2029. Major growth factors of Vietnam smart harvest market include increasing adoption of smart agriculture technique to optimize crop yield, rising need for reducing crop production cost and growing government initiatives related to modernization of agricultural techniques. Smart harvesting is an advanced and innovative method of farming that reduces human labor, saves time, and maximizes farm productivity. The smart harvest technology incorporates hardware, services, and software into the farming process. The adoption of cutting-edge agricultural technologies for increased productivity and profitability are expected to boost the expansion of the overall market. Likewise, agricultural technological advancements and increased government backing for innovative technologies are projected to drive the smart harvest industry. The expanding population and better research will create further chances for the smart harvest market during the forecast period. However, high cost of smart harvesting equipment and lack of technical knowledge are anticipated to restrain the market expansion.
Vietnam Smart Harvest Market – Overview
Smart harvesting incorporates a variety of farming practices and advanced, creative technology. These strategies are used in conjunction with standard farming practices to boost productivity and efficiency. A rapidly growing population suffers from a shortage of good agricultural produce; smart farming practices are being introduced to alleviate this burden. Smart farming processes are organically characterized as the use of one or more technologies in the agricultural process to obtain more efficiency and effectiveness, as well as the mix of hard effort and smart work with the use of technology.
Impact of COVID-19 on Vietnam Smart Harvest Market
COVID-19 had a short-term impact on the smart harvest industry in 2020 and 2021. However, the market is expected to experience robust development and recovery due to rising demand for the installation of smart harvest equipment in agricultural farms throughout the world in order to maximize resource utilization in the face of a skilled workforce scarcity in the agriculture sectors. As a result, demand for smart harvesters in the agricultural industry is projected to rise during and after the COVID-19 pandemic.
Vietnam Smart Harvest Market – By Site of Operation
Based on site of operation, Vietnam smart harvest market is segmented into On-field, Green House, and Indoor. The on-field segment is expected to hold the highest market share. Farmers and agro-entrepreneurs are mostly using these harvesting technologies on-field. The bulk harvesting process of these smart harvesting devices enables farmers to make better use of their time. When applied on-field, the characteristics and components that fall under these smart mechanisms, such as harvesting robots, AI, and other control systems, produce extremely favorable results. On-field use of smart harvesting devices decreases production costs and enhances profitability, masking the negative impact of personnel shortages. The diminishing ratio of fields and farmlands, on the other hand, may account for rapid expansion in the indoor site of operations within smart harvest markets.
Competitive Landscape
Major players operating in Vietnam smart harvest market include Trimble, John Deere, AGCO, AGRI-tech, Kinh Do, New Holland, Case IH, Kubota, Yara, and Agrivi. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Vietnam Smart Harvest Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Smart Harvest Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Vietnam Smart Harvest Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. High adoption of smart agriculture technique to optimize crop yield
- 3.2.1.2. Need for reducing crop production cost
- 3.2.1.3. Government initiatives related to modernization of agricultural techniques
- 3.2.2. Restraints
- 3.2.2.1. High cost of smart harvesting equipment
- 3.2.2.2. Lack of technical knowledge
- 3.2.3. Opportunities
- 3.2.3.1. Expanding export-oriented farming sector
- 3.2.3.2. Adoption of precision agriculture technologies
- 3.2.4. Challenges
- 3.2.4.1. Technical Complexities Affecting Smart Harvest Adoption
- 3.2.4.2. Less adoption among small-scale farmers
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Vietnam Smart Harvest Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Component
- 4.2.1.1. Hardware
- 4.2.1.1.1. Sensors
- 4.2.1.1.2. Imaging Systems
- 4.2.1.1.3. Harvesting Robots
- 4.2.1.1.4. Automation & Control Systems
- 4.2.1.2. Software
- 4.2.2. By Site of Operation
- 4.2.2.1. On-field
- 4.2.2.2. Green House
- 4.2.2.3. Indoor
- 4.2.3. By Crop Type
- 4.2.3.1. Fruits
- 4.2.3.2. Vegetables
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Range
- 5.2. Vietnam Smart Harvest Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Development (Merger, Acquisition, Partnership)
- 6. Impact of Covid-19 on Vietnam Smart Harvest Market Industry
- 7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. Trimble
- 7.2. John Deere
- 7.3. AGCO
- 7.4. AGRI-tech
- 7.5. Kinh Do
- 7.6. New Holland
- 7.7. Case IH
- 7.8. Kubota
- 7.9. Yara
- 7.10. Agrivi
- 7.11. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents
- 9.5. Assumption & Limitation
- *Financial information of case of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List of Figures
- Figure 1 Vietnam Smart Harvest Market Segmentation
- Figure 2 Vietnam Smart Harvest Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Vietnam Smart Harvest Market Size, By Value (USD Million), 2019–2029
- Figure 5 Vietnam Smart Harvest Market Share, By Component, By Value, 2019–2029
- Figure 6 Vietnam Smart Harvest Market Share, By Site of Operation, By Value, 2019–2029
- Figure 7 Vietnam Smart Harvest Market Share, By Crop Type, By Value, 2019–2029
- List of Tables
- Table 1 Vietnam Smart Harvest Market Size, By Component, By Value, 2019–2029
- Table 2 Vietnam Smart Harvest Market Size, By Site of Operation, By Value, 2019–2029
- Table 3 Vietnam Smart Harvest Market Size, By Crop Type, By Value, 2019–2029
- Table 4 Trimble Company Overview
- Table 5 Trimble Financial Overview
- Table 6 John Deere Company Overview
- Table 7 John Deere Financial Overview
- Table 8 AGCO Company Overview
- Table 9 AGCO Financial Overview
- Table 10 AGRI-tech Company Overview
- Table 11 AGRI-tech Financial Overview
- Table 12 Kinh Do Company Overview
- Table 13 Kinh Do Financial Overview
- Table 14 New Holland Company Overview
- Table 15 New Holland Financial Overview
- Table 16 Case IH Company Overview
- Table 17 Case IH Financial Overview
- Table 18 Kubota Company Overview
- Table 19 Kubota Financial Overview
- Table 20 Yara Company Overview
- Table 21 Yara Financial Overview
- Table 22 Agrivi Company Overview
- Table 23 Agrivi Financial Overview
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