Emergence of Automated Harvesting Robots is Projected to Drive the Smart Harvest Market Growth. Global labor shortage in agriculture is one of the major factors leading to loss of yield due to improper maintenance and farming practices. To cater to this issue, farmers are highly adopting farm mechanization and other smart agriculture techniques to optimize their crop yields.
The rise in population has led to increased food demand, which in turn has led to increased pressure on farmers to increase yield and area harvested for various crops. However, global labor shortage in agriculture is one of the major factors leading to loss of yield. To cater to this issue, farmers are highly adopting farm mechanization and other smart agriculture techniques to optimize their crop yields. Harvesting is one of the major phases of farming and the use of various smart devices increases the output and thus decreases the overall loss. The smart harvest market is estimated to be valued at USD 9.0 billion in 2018 and is projected to reach USD 15.6 billion by 2023, at a CAGR of 11.81% during the forecast period.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=7445954
Harvesting robots of the hardware segment is projected to have the fastest growth rate during the forecast period. Harvesting is one of the important phases of farming and requires great amount of moving and lifting through manual labor. Additionally, labor shortage affects the overall yield output. To cater to this issue, manufacturers have introduced autonomous harvesting robots that harvests fruits and vegetables with little or no human intervention. Although majority of the manufacturers have harvesting robots in the testing phase and are designed to harvest limited fruits and vegetables, however, these smart harvest robots are expected to launch in the market for sales during the forecast period, with enhanced functionalities. With increasing labor shortage and need to reduce labor costs, the demand for smart harvesting robots is projected to be high and have fastest growth during the forecast period.
On-field segment is projected to have the fastest growth rate among other site of operations where smart harvest is used. The most common types of smart harvest solutions used on the field include sensors and large-scale automated harvesting systems such as drones, harvesting robots, and semi-automated tractors. On-field smart harvest systems have a higher degree of wireless connectivity supported by Global Positioning Systems (GPS)/Global Navigation Satellite System (GNSS) which supplement the movement of tractor and harvester machines. Such advanced technologies helped the farmers to monitor crops and the application of fertilizers among other inputs of farming, thus saving the input costs. Although smart harvest technologies are majorly used among farms with high income; however, it is expected that the technology costs would decrease during the forecast period, thus making it affordable for the low and medium income farmers as well.
The Asia Pacific smart harvest market has strong potential to become a leading market in the coming years. Farmlands in China and Australia have strong potential for growth given the large-scale production and increasing population in the region. The deployment of smart harvest systems and technologies in the region is still in its nascent stage and is expected to witness a higher rollout with second-generation smart harvest systems and technologies that would offer a better cost benefit and additional capabilities. Agriculture is deeply integrated into the economies of China and Australia where agricultural produce forms a crucial part of the exports. Additionally, government initiatives are further expected to boost the demand for smart harvest technologies during the forecast period. With the growing export potential of demand for fruits and vegetables for local consumption and exports, and growing focus on farming and agricultural sector, the demand for smart harvest technologies is expected to increase in developing countries over the next decade.