Smart Harvest Market – Introduction
- The growing demand for food due to the rising population globally has put immense pressure on farmers to increase crop yield. But the shortage of labor in agricultural fields is leading to less harvest. Farmers are therefore using smart devices to expand their production capacity. The increasing adoption of latest technologies in farming for maximizing profitability is helping in the growth of the smart harvest market.
Key Drivers of the Smart Harvest Market
- Increasing labor shortage due to the cost factor has a positive impact on the smart harvest market. Also, governments in developing countries across the globe are taking initiatives and encouraging farmers to adopt smart harvesting systems. Further, demand for harvesting robots, automation, sensors, control systems, and imaging systems is expected to increase with advancement in technology, which further helps in the growth of the smart harvest market.
- Smart harvest systems help farmers to increase production capacity and profitability by adopting latest technologies. It is also cost efficient as it reduces labor overheads and enables optimal use of resources. This factor further drives the demand for smart harvest systems.
Factors Restraining the Smart Harvest Market
- Smart harvest systems require extensive technical knowledge and skills. However, many farmers do not have these skills, and finding someone with technical ability is difficult and even expensive. This factor discourages many farmers from adopting smart harvest systems. Additionally, the high cost of installation of smart harvest technologies hampers the growth of the smart harvest market. Demand for smart harvest systems also declined in 2020 due to the lockdown and other government imposed restrictions because of the COVID-19 pandemic.
Europe to Hold Leading Share of the Global Smart Harvest Market
- In terms of region, the global smart harvest market can be divided North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the smart harvest market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The smart harvest market in South America is segmented into Brazil and Rest of South America.
- Europe dominated the global smart harvest market in 2020, due to increasing adoption of advanced harvesting technologies in the region. Increasing population has been driving the smart harvest market in Europe, particularly in the UK, Germany, and France.
- The smart harvest market in Europe is projected to expand at a rapid pace, followed by Asia Pacific and North America during the forecast period.
Key Players Operating in the Smart Harvest Market
The global smart harvest market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global smart harvest market are:
- Robert Bosch GmbH
- Deere & Company
- Smart Harvest Agritech Ltd.
- Harvest Automation
- Panasonic Corporation
- Root AI
- Abundant Robotics, Inc.,
- Harvest CROO Robotics LLC
Global Smart Harvest Market: Research Scope
Global Smart Harvest Market, by Component
Global Smart Harvest Market, by Crop Type
Global Smart Harvest Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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- Customer Experience Maps
- Insights and Tools based on data-driven research
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- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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