Smart Harvest Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software), Crop Type (Vegetables, Fruits), Site of Operation (Greenhouse, On Field, Indoor), and Geography

Smart Harvest Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software), Crop Type (Vegetables, Fruits), Site of Operation (Greenhouse, On Field, Indoor), and Geography

According to Stratistics MRC, the Global Smart Harvest Market is accounted for $15.09 billion in 2022 and is expected to reach $32.81 billion by 2028 growing at a CAGR of 13.81% during the forecast period. Smart Harvest is the term used to describe autonomous harvesting robots that harvest both fruits and vegetables with little to no assistance from humans. In order to increase agricultural output, smart harvesting makes use of advanced technologies including GPS, cloud computer vision, aerial photographs, AI, MI, big data, and IoT.

Market Dynamics:

Driver:

Rising labor shortage

The market for smart harvest benefits from the growing labour shortage brought on by cost considerations. Additionally, governments around the world are launching projects and urging farmers to use smart harvesting techniques, demand for harvesting robots, automation, sensors, and control systems would support market expansion.

Restraint:

High cost of installation

Smart harvesting technology's high installation costs restrain the market's expansion during the forecast timeline. Smart harvesting technologies' cost effectiveness is expected to increase exponentially. The reality is that deploying sensors and collecting samples need a lot of resources and are fairly expensive.

Opportunity:

Integration of smart technologies

Future market growth is also anticipated to be boosted by the incorporation of smart technologies like artificial intelligence (AI), machine learning (ML), the internet of things (IoT), global positioning systems (GPS), and sensors in the agriculture sector. Artificial intelligence and deep learning are being used more and more in crop health monitoring and yield assessment, as well as in harvesting and cultivation by smart tractors without drivers. Artificial intelligence significantly improves crop quality and helps manage insect infestations, disease management through early detection of pests and illnesses, and harvesting methods. Modern technologies assist in decreasing the need for human intervention and lower the cost of hiring specialists and related staff.

Threat:

Requires extensive skills and knowledge

Smart harvesting systems demand a high level of technological expertise. However, a lot of farmers lack these abilities, and it can be challenging and sometimes even expensive to locate someone who does. This actually prevents many farmers from implementing smart harvesting techniques. This factor is preventing market expansion during the anticipated period.

Covid-19 Impact

While the world's trade was suspended during the lockdowns put in place to stop the new corona virus from spreading, the food and agriculture sector has been severely damaged by freight issues. Due to a lack of supply and demand chain interruptions, the majority of the food subcategories saw a fall in sales volume. Because of the pandemic's severe market effects on the agriculture sector, farming communities are becoming more conscious of the nascent smart harvest market. Since there was a need to restrict human involvement during the lockdowns, new methods have been created for harvesting that employ machines. Once the pandemic is over, increasing awareness, a declining agricultural workforce due to urbanisation, and rising food demand globally will ultimately push the market.

The hardware segment is expected to be the largest during the forecast period

The hardware segment is estimated to have a lucrative growth. Harvest robots, control and automation systems, sensors, and imaging systems are all part of the smart harvest's hardware. The hardware is made up of various parts that work together to handle, identify, and gather the fruit or vegetable. Artificial intelligence (AI) will be included into smart harvest systems in the upcoming years, enabling the robots to decide for themselves based on the proper criteria.

The fruits segment is expected to have the highest CAGR during the forecast period

The fruits segment is anticipated to witness the fastest CAGR growth during the forecast period. Manufacturers are creating and testing a variety of harvesting robot technologies for commercial use. Apple, strawberries, and citrus fruits like lemon and orange may all be harvested using the latest generation of smart harvest technologies. The integration of yield sensor devices and ripened controllers all over a wide variety of fruits is made possible through the use of smart harvest systems.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to producers in this region are being encouraged to use this mechanism by the growing population as well as the rising need for a wide range of fruits and vegetables in greater numbers. The governments of these nations strive to devote more funding to the agriculture sector each year with new budgeting policies, helping small-scale farmers with mortgages and other incentives so they can utilise developing technology systems. Along with government funding, the expansion of public and private sector investments for the adoption of smart harvesting technologies and devices is also contributing to the rapid growth of APAC nations.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. Smart harvesting systems have become widely used in Europe during the past few years. Germany and the United Kingdom both contribute significantly to the expansion of the European market. The government provides farmers in this area with considerable financial incentives and support to help them adopt this technologically advanced harvesting equipment. Europe is a significant hub for smart harvest system suppliers and producers.

Key players in the market

Some of the key players profiled in the Smart Harvest Market include Deere & Company, Robert Bosch GmbH, Panasonic Corporation, Abundant Robotics, Inc., Harvest Automation, Dogtooth Technologies Limited, Smart harvest Ltd., Agrobot, Harvest Croo, Metomotion and Energid Technologies Corporation

Key Developments:

In September 2018, the Energid Technologies Corporation (United States) Company has launched a new software development kit and framework version of its Actin software. In addition, this new software provides incorporates real-time monitoring, adjustments, and inputs for robots, in which it is installed. Therefore, this product launch will help in strengthening the position of the company in the United States.

In January 2018, the Panasonic Corporation (Japan) Company has revealed a prototype of their new fully autonomous tomato-picking robot in Tokyo. Therefore, this will, in turn, propel the growth of smart harvest market.

Components Covered:
• Hardware
• Software

Crop type Covered:
• Vegetables
• Fruits

Site of operation Covered:
• Greenhouse
• On Field
• Indoor

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements