• US: +1-408-610-2300
  • Toll Free: +1-866-831-4085
  • Login / Register
  • Home
  • » Technology
  • » Precision Harvesting Market Growth & Trends 2027 | Industry Report
Precision Harvesting Market Growth & Trends 2027 | Industry Report

Precision Harvesting Market Analysis Report By Application, By Product, By Offering, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17620080  |  Published: September 2020  |  No of Pages: 250
Format: Electronic (PDF)  |  Industry: Technology  |  Publisher: Grand View Research

Industry Insights

The global precision harvesting market size was accounted for USD 11.6 billion in 2019. It is projected to grow at a CAGR of 8.6% over the forecast period, 2020 to 2027. Growing trend of mechanizationin farming through harvesting robotsand combine harvesters in developing countries is mainly accelerating the market growth. In addition, rising labor costs owing to a lack of skilled labor is also contributing to market growth.

Hardware category accounted for the highest share in the market, mainly due to the increasing adoption of automation devices like GPS systems, steering systems, yield monitors and sensors. The yield monitoring, sensors and GPS devices play a very vital role in maximizing crop yield.

North America precision harvesting market

By 2050, the global population is expected to reach 2.2 billion people. On the other hand, land degradation, increasing pollution levels are reducing the land & water resources. All these factors have influenced farmers to utilize precision harvesting approach to improve productivity.

Precision harvesting help in transferring the agriculture sector from traditional style methods to advanced harvesting solutions with greater efficiency. Moreover, encouraging government initiatives is helping farmers to adopt advanced machinery tools for enhanced crop yield.

Product Insights

Based on the product, the precision harvesting market is fragmented into harvesting robots, combine harvesters and self-propelled forage harvesters. In 2019, the combine harvester’s type segment dominated the market with the highest market share in the overall market. Increasing adoption of automation, advanced harvesting technologies like GPS, 3D cameras, sensors, and yield monitors. Rising innovation in products coupled with growing labor costs is expected to bolster the demand for precision harvesting solutions. However, high costs linked with advanced technology may hamper the market growth.

The precision harvesting robots type segment is estimated to grow at the fastest CAGR during the forecasted period. Growing food production demand, increasing labor costs is primarily bolstering the segmental growth. Moreover, hardware cost reduction is projected to positively impact on market growth.

Offering Insights

Depending on the offering, the market is fragmented into software, hardware and services. In 2019, the hardware offering segment held the largest market share in the overall market. Hardware segment is comprised of sensing devices, automation & control systems, and others. Sensing and automation devices play a key role in improving crop yielding capacity in the agriculture field.

Software offering segment is projected to propel at a CAGR of more than 11.0% from 2020 to 2027. Growing adoption of cloud computing solutions, server systems are contributing to the growth of software infrastructure. Predictive analysis tools are used to improve the crop yield with measured soil, temperature levels for better productivity.

Application Insights

In 2019,crop segment dominated the market with highest share in the overall market. Rising adoption of mechanization approach over traditional farming in crops like maize, wheat, rice, wheat, corn, sugarcane, cotton, and soybean is surging the market growth. Several electronic devices such as GPS, sensors and GIS are used for measuring optimum crop yield capacity.

Global precision harvesting marketGreenhouse harvesting type segment is projected to grow at the fastest CAGR from 2020 to 2027. Rising environmental concerns, soil degradation, climatic conditions, and growing demand for data analytics in farming are proliferating the growth of greenhouses. Greenhouse uses robotics systems such as material handling, automatic conveyor spacing robots and robotic arms.

Regional Insights

In 2019, North America dominated the precision harvesting market with the highest market share. The presence of early technology adopters across the region is contributing to market growth. Moreover, different government initiatives regarding agriculture technology in the U.S. market is boosting the demand for modern harvesting. For example, National Institute of Food & Agriculture (NIFA) conducts programs related to sensor precision, &geospatial technology. These programs help in educating & creating awareness among farmers about new technology for improved food production.

Asia Pacific is projected to grow at the fastest CAGR during the forecasted period. Increasing adoption of automated harvesters & harvesting robots in the region is projected to spur the market growth.

Impact of COVID-19

COVID-19 pandemic has negatively impacted the agricultural sector with slowdown in supply chain, reduced workforce in farming. However, the market is projected to grow significantly over the forecasted years.

Lockdown restriction is contributing to workforce shortage and decline in food demand. However, coronavirus crisis is estimated to offer potential growth opportunities for farmers through precision harvesting agriculture solutions. Thus, farmers are utilizing remote technologies such as satellite imagery/monitoring, artificial intelligence (AI) based solution to enhance harvest quality of crops.

Precision Harvesting Market Share Insights

Leading players in the market include, Trimble Inc.; AGCO Corporation; Deere and Company; AgJunction Inc.; AG Leader Technology, Inc.; Raven Industries, Inc.; Precision Planting LLC; and FFRobotics. Key players in the market engage in new product development, strategic acquisitions to remain competent in the market. For instance, in 2019, Raven Industries Inc., has acquired Smart Ag Inc. to expand their product portfolio.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Billion & CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, South America & Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Japan, China, India, Australia, and Brazil.

Report coverage             

Revenue forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report
 

This report forecasts revenue growth at global, regional,and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global precision harvesting market report on the basis of product, application, offering and region:

• Product Outlook (Revenue, USD Billion, 2016 - 2027)
    • Combine Harvesters
    • Harvesting Robots
    • Self-propelled Forage Harvesters

• Application Outlook (Revenue, USD Billion, 2016 - 2027)
    • Crop
    • Greenhouse
    • Horticulture
    • Others

• Offering Outlook (Revenue, USD Billion, 2016 - 2027)
    • Hardware
        • Automation & Control System
        • Sensing Devices
        • Others
    • Software
    • Services

• Regional Outlook (Revenue, USD Billion, 2016 - 2027)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • Japan
        • India
        • Australia
    • South America
        • Brazil
    • Middle East & Africa (MEA)

What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service
  • 100% Secure Payments
  • Our Promise
  • 100% Service Assurance
  • Market Monitoring
  • Service Flexibility
  • 24X5 Care available