The demand for smart harvesting is expected to increase on account of improvement in overall productivity and the trend towards indoor farming. Further, favorable government policies aimed at integrating IoT with the agriculture industry will further boost the demand for smart harvesting. Furthermore, rising population has prompted increased demand for food which in turn has emphasized the focus on increasing the yield which is further anticipated to bolster the smart harvest industry. Moreover, rising technological advancements along with increased research and development activities is expected to provide growth opportunities for the market in the coming years. However high initial cost for setting up a smart harvesting system is expected to restrict the growing demand for smart harvesting. The market has been segmented on the basis of component, site of operation, crop type and geography. In the component segment, hardware is expected to witness substantial growth owing to the rising investment in research and development activities for innovation in products. In the site of operation, the indoor segment is estimated to grow significantly on account of the declining arable land across various regions. Geographically, the North American and European region are anticipated to hold a significant share in the market owing to the early adoption of technology and increasing research and development expenditure by vendors so as to develop cost-effective solutions. The Asia Pacific market is also expected to witness substantial growth in the coming years due to increasing population and favorable government policies.
Rising adoption of automation in agricultural sector.
Supportive government initiatives.
High installation costs.
In October 2018, Iron Ox launched fully autonomous indoor farms with latest arable sciences, machine learning and robotics.
In September 2018, Energid Technologies launched Actin 5, an update to a real time adaptive robotic motion control and path planning toolkit.
In May 2018, Panasonic Corporation launched new AI-equipped tomato harvesting robots.
The major players profiled in the Smart Harvest market include Panasonic Corporation, Smart Harvest, Deere & Company, Harvest Automation, Abundant Robotics Inc., Dogtooth Technologies Ltd., Robert Bosch Gmbh, AVL Motion, Energid Technologies, SL Agrobot, FFRobotics, Harvest Croo, Metomotion, Root AI Inc., and Vision Robotics Corporation.
The Smart Harvest market has been analyzed through the following segments:
By Site of Operation
By Crop Type
Middle East and Africa