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Worldwide Precision Harvesting Market Analysis by Product, Application, Offering and Geography (2019-2023) - ResearchAndMarkets.com

March 4, 2019

DUBLIN--(BUSINESS WIRE)--Mar 4, 2019--The “Precision Harvesting Market by Product (Combine, Harvesting Robots, Forage Harvesters), Application (Crop, Horticulture, Greenhouse), Offering (Hardware - Sensors, GPS, Yield Monitors, Software, Services), and Geography - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The precision harvesting market was worth USD 10.4 billion in 2018 and is projected to reach USD 17.5 billion by 2023, at a CAGR of 10.94% during 2018-2023.

The major factors driving the growth of the precision harvesting market are increasing farm mechanization in developing countries in the Asia Pacific and Africa, increasing adoption of harvesting robots and autonomous combine harvesters, and increasing labor cost owing to shortage of skilled labor.

Precision harvesting has the potential to transform the agriculture sector, making traditional harvesting activities more efficient and economical. The increasing global food demand, extended profitability and crop yield, and minimum wastage of crops during harvesting are the other factors fueling the market’s growth. Also, government initiatives in many countries are helping farmers adopt advanced agricultural and technology tools to improve yield.

The market for harvesting robots estimated to grow at highest CAGR during forecast period

The market for harvesting robots is expected to grow at the highest CAGR from 2018 to 2023. The rising demand for harvesting robots is driven by increasing demand for food owing to increasing population, increasing strain on food supply, declining availability of farm workers, the rising cost of farm workers, and broader automation in the agriculture industry.

Harvesting robots is an emerging technology that has gained tremendous popularity in recent years owing to increasing labor cost and the need to increase farm productivity. The gradual reduction in hardware cost and an increase in labor cost are expected to fillip the adoption of harvesting robots in the coming decades.

The market for corn application to grow at highest CAGR from 2018 to 2023

The precision harvesting market for corn application is expected to grow at the highest CAGR during the forecast period. Adoption of precision harvesting systems for corn application is comparatively higher as compared to other crops; as a result, this segment held the largest market size in 2018. Innovations in harvesting equipment and a greater need to automate corn, cotton, and soybean farms due to the shortage of skilled labor are the major factors driving the growth of this segment.

Precision harvesting market in Europe to grow at the highest CAGR between 2018 and 2023

The increasing mechanization in Eastern European farms-Poland, Austria, Croatia, and Bulgaria-is a major factor contributing to the high growth of the precision harvesting market in this region. The market’s growth and demand for harvesting robots are also driven by increasing strain on food supplies to feed a swelling population, declining availability and the rising cost of farm labor, challenges and complexities of farm labor, climate change, the growth of smart greenhouse and indoor farming, and broader automation in the agriculture industry.

Topics Covered

1 Introduction

1.1 Study Objectives

1.2 Definition

1.3 Study Scope

1.4 Currency

1.5 Limitations

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.1.1 Secondary Data

2.1.1.1 Major Secondary Sources

2.1.1.2 Secondary Sources

2.1.2 Primary Data

2.1.2.1 Primary Interviews With Experts

2.1.2.2 Breakdown of Primaries

2.1.2.3 Key Data From Primary Sources

2.1.3 Secondary and Primary Research

2.1.3.1 Key Industry Insights

2.2 Market Size Estimation

2.2.1 Bottom-Up Approach

2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in Precision Harvesting Market

4.2 Precision Harvesting Market in Europe, By Product Type

4.3 Precision Harvesting Market, By Application

4.4 Precision Harvesting Market, By Product Type

4.5 Geographic Analysis of Precision Harvesting Market

5 Market Overview

5.1 Market Dynamics

5.1.1 Drivers

5.1.1.1 Increasing Demand for Mechanized Harvesting Owing to Labor Shortage

5.1.1.2 Increasing Adoption of Harvesting Robots in Greenhouse and Horticulture

5.1.1.3 Substantial Cost Savings

5.1.1.4 Government Support for Adopting Modern Harvesting Techniques

5.1.2 Restraints

5.1.2.1 High Capital Investments

5.1.2.2 Lack of Skills and Technical Awareness Among Farmers

5.1.3 Opportunities

5.1.3.1 Developing Countries to Offer Significant Growth Opportunities

5.1.3.2 Increasing Adoption of Harvesting Robots

5.1.4 Challenges

5.1.4.1 Lack of Standardization in and Safety Issues With Precision Harvesting

5.1.4.2 Large-Scale Commercialization of Autonomous Harvesting Systems is A Time-Taking Process

6 Industry Trends

6.1 Introduction

6.2 Value Chain Analysis

6.2.1 Major Market Players in Precision Harvesting Market

6.3 Industry Trends

6.3.1 Integration of Telematics With Farm Mechanisation

6.3.2 Advent of Intelligent Combine Harvesters to Influence Market Expansion

6.3.3 Agricultural Robotics to Mitigate Labor Shortage

7 Precision Harvesting Market, By Offering

7.1 Introduction

7.2 Hardware

7.2.1 Guidance & Steeering System

7.2.1.1 Guidance & Steering Systems Accounted for Largest Share of Precision Harvesting Hardware Market in 2017

7.2.2 Gps

7.2.2.1 Increasing Adoption of Guidance & Steering Technology to Drive Gps Market

7.2.3 Yield Monitoring System

7.2.3.1 Increasing Demand for Site-Specific Yield Data to Drive Yield Monitoring System Market

7.2.4 Robotic Arm

7.2.4.1 Increasing Adoption of Harvesting Robots in Horticultural Applications to Drive Robotic Arms

7.2.5 Sensors

7.2.5.1 Increasing Adoption of Advanced Farming Techniques and Decline in Asp of Sensors to Propel Growth of Sensors

7.2.6 Cameras

7.2.6.1 Cameras to Witness Highest Growth in Precision Harvesting Hardware Market

7.2.7 Others

7.3 Software

7.4 Services

8 Precision Harvesting Market, By Product Type

8.1 Introduction

8.2 Combine Harvesters

8.3 Self-Propelled Forage Harvesters

8.4 Harvesting Robots

9 Precision Harvesting Market, By Application

9.1 Introduction

9.2 Crops

9.3 Horticulture

9.4 Greenhouse

9.5 Others

10 Geographic Analysis

10.1 Introduction

10.2 Americas

10.2.1 North America

10.2.1.1 US

10.2.1.2 US Accounted for Largest Share of Precision Harvesting Market in North America

10.2.1.3 Canada

10.2.1.4 High Production Cost and Shortage of Skilled Farm Workers Driving Precision Harvesting Market in Canada

10.2.1.5 Mexico

10.2.1.6 Market in Mexico to Witness Highest CAGR in North America

10.2.2 South America

10.2.2.1 Brazil

10.2.2.2 Brazil Accounted for Largest Share of Precision Harvesting Market in South America

10.2.2.3 Argentina

10.2.2.4 Market in Argentina to Witness Highest Growth in South America

10.2.2.5 Rest of South America

10.3 Europe

10.3.1 Germany

10.3.1.1 Germany Held Largest Share of Precision Harvesting Market in Europe

10.3.2 France

10.3.2.1 Demand for Precision Harvesting Equipment in France Increasing Owing to Shortage of Skilled Labor

10.3.3 UK

10.3.3.1 UK to Witness an Increasing Adoption of Precision Harvesting Technologies

10.3.4 Italy

10.3.4.1 Increasing Adoption of Precision Harvesting Equipment to Boost Productivity

10.3.5 Poland

10.3.5.1 Poland’s Agriculture Sector Shifting Toward Large-Scale Commercial Farming to Boost Productivity

10.3.6 The Netherlands

10.3.6.1 Market in Netherlands Expected to Witness Highest Growth in Europe

10.3.7 Rest of Europe

10.4 Asia Pacific

10.4.1 Australia

10.4.1.1 Australia Accounted for Largest Market Share in Asia Pacific

10.4.2 China

10.4.2.1 Government Incentives and Investments in Agriculture Sector to Boost Precision Harvesting Market in China

10.4.3 Japan

10.4.3.1 Aging Agrarian Workforce Creating Demand for Harvesting Robots

10.4.4 India

10.4.4.1 Market in India Expected to Witness Highest Growth in Asia Pacific

10.4.5 South Korea

10.4.5.1 Increasing Adoption of Precision Harvesting Technologies to Tackle Labor Shortage

10.4.6 Rest of Asia Pacific

10.5 Rest of World

10.5.1 Africa

10.5.2 Middle East

10.5.2.1 Increasing R&D Investments to Boost Adoption of Harvesting Robots

10.5.3 Others

11 Competitive Landscape

11.1 Introduction

11.2 Ranking Analysis in Precision Harvesting Market, 2018

11.3 Competitive Situation and Trends

11.4 Competitive Leadership Mapping, 2018

11.4.1 Visionary Leaders

11.4.2 Dynamic Differentiators

11.4.3 Innovators

11.4.4 Emerging Companies

12 Company Profiles

12.1 Key Players

12.2 Deere & Company

12.3 Trimble

12.4 Agco

12.5 Agjunction

12.6 Raven Industries

12.7 Claas Group

12.8 AG Leader Technology

12.9 Teejet Technologies

12.10 Topcon Positioning Systems

12.11 Dickey-John Corporation

12.12 CNH Industrial

12.13 Other Important Players

12.14 Start-Up Ecosystem

For more information about this report visit https://www.researchandmarkets.com/research/69m6k4/worldwide?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20190304005421/en/

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PUB: 03/04/2019 05:15 AM/DISC: 03/04/2019 05:15 AM

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