Global Harvesting Technology Market – Industry Trends and Forecast to 2029

Global Harvesting Technology Market, By Technology (Light Energy Harvesting, Vibration Energy Harvesting, Frequency Energy Harvesting, Thermal Energy Harvesting, Radio Frequency Energy Harvesting) Components (Power Management Integrated Circuits, Storage System, Transducers, Sensors, Others) Application (Horticulture, Greenhouse, Crops, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

A number of newly developed and efficient energy applications, widespread acceptance of renewable energy sources, and green energy harvesting are all expected to play important roles in the global harvesting industry's growth.

Data Bridge Market Research analyses that the harvesting technology market which was growing at a value of 12.51 billion in 2021 and is expected to reach the value of USD 20.70 billion by 2029, at a CAGR of 6.5% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, technological advancements and patent analysis.

Report Scope and Market Segmentation

Market Definition

Harvesting is a critical component of any agricultural practise because it affects the overall profitability of the process. Harvesting on time and using effective harvesting methods are becoming increasingly important, particularly in fruit and vegetable production. Smart Harvesting techniques optimise harvesting by utilising existing and real-time data as well as in-field hardware.

Harvesting Technology Market Dynamics

Drivers

• The shortage of labours in agricultural practices

A labor shortage in agricultural practices is the primary factor driving farming communities to use efficient harvesting methods. High-value crops such as apples, strawberries, and sweet peppers are becoming less economically viable due to rising labour costs and a decreased number of skilled workers. Farmers of such fruits are increasingly turning to crop sensing solutions to facilitate effective plucking without causing physical damage to the fruit.

• Implementation of smart harvesting practices to meet rising food demand globally

Rapid population growth is putting pressure on the world's agricultural sector to increase productivity to meet rising food demand. Farmers are increasingly implementing smart harvest technologies such as harvesting robots, automation, control systems, sensors, and imaging systems to increase profitability and output in less time and at a lower cost. The scarcity of arable land is a major factor driving demand for indoor farming activities and the increased use of smart harvesting technologies to reduce labour costs.

Opportunity

Firms in the target industry focus on business growth through strategies such as advanced product launches, capacity expansion, and heavy production investments in their facilities, which are expected to flourish soon as the global harvesting technology market grows. Furthermore, site-specific nutrient management with precision agriculture, increased demand for industrial crops, and investment in agricultural operations in developing countries provide profitable opportunities to market participants.

Restraints

The high initial cost of purchasing and integrating machines is expected to impede the growth of the precision harvesting market. The precision harvesting market is expected to face challenges in the forecast period due to farmers' lack of penetration and skills required to fully integrate precision harvesting and agriculture.

This harvesting technology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the harvesting technology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Harvesting Technology Market

While global trade was halted due to lockdowns imposed to control the spread of novel coronaviruses, the food and agriculture industries were severely impacted by freight challenges. Most food categories saw sales decline due to a lack of demand and supply chain disruptions. Although the agricultural industry's decline due to the pandemic has had a negative impact on the market, farming communities are becoming more aware of the emerging smart harvest market. As human interaction had to be limited during the lockdowns, new harvesting technologies that use machines have been developed. Growing awareness, reduced farmer workforce due to urbanisation, and rising global food demand will inevitably drive the market once the pandemic is over.

Recent Development

• The Bosch Group increased its investment in The Yield Technology Solutions, an Australian Internet of Things AgTech company, in May 2020. The new $11 million investment brings the Bosch Group's total investment to $13.3 million.
• Bosch and BASF Digital Farming signed a 50:50 joint venture (JV) agreement in November 2020 to market and sell smart farming solutions globally from a single source in the future. Bosch will contribute hardware, software, and digital services, while BASF will provide "an automated, real-time, field specific agronomic decision-making engine for weed management" through its Xarvio Digital Farming Solutions.

Global Harvesting Technology Market Scope

The harvesting technology market is segmented on the basis of technology, components and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Light energy harvesting
• Vibration energy harvesting
• Frequency energy harvesting
• Thermal energy harvesting
• Radio frequency energy harvesting

Components

• Power Management Integrated Circuits
• Storage system
• Transducers
• Sensors
• Others

Application

• Horticulture
• Greenhouse
• Crops
• Others

Harvesting Technology Market Regional Analysis/Insights

The harvesting technology market is analysed and market size insights and trends are provided by country, technology, components and application as referenced above.

The countries covered in the harvesting technology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Harvesting technologies are the most popular in the Asia-Pacific region. A large proportion of the population here is directly dependent on agriculture. Various businesses are ancillary to the agriculture sector, ranging from labour to renting machinery. Some of the reasons for the tremendous growth of harvesting technologies in this region include the region's ever-increasing population and increasing demand for food products. As the economies in this region develop rapidly, this growth will accelerate significantly.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Harvesting Technology Market Share Analysis

The harvesting technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to harvesting technology market.

Some of the major players operating in the harvesting technology market are:

• Yara International ASA (Norway)
• Koch AG & Energy Solutions LLC (U.S.)
• Coromandel International Limited (India)
• Agriculture Solutions Inc. (Canada)
• Hafia Groups (Israel)
• Sapec Agro S.A. (Portugal)
• Kugler Company (U.S.)
• Israel Chemicals Limited (Israel)
• Van Iperen International B.V. (Netherlands)
• US AG LLC (U.S.)
• Levant Power Corporation (U.S.)
• Honeywell International, Inc. (U.S.)
• Green Peak Technologies (Netherlands)
• Fujitsu (Japan)
• ABB (Switzerland)
• Texas Instruments Inc. (U.S.)
• ST Microelectronics (Switzerland)