Precision Harvesting Market (By Product: Combine Harvesters, Harvesting Robots, Self-propelled Forage Harvesters; By Offerings: Hardware [Automation & Control System, Sensing Devices, Others], Software, Services; By Application: Crop, Greenhouse, Horticulture, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global precision harvesting market is anticipated to grow at a CAGR of around 8.5% during the forecast period 2020 to 2027 and to reach around US$ 22.2 Bn by 2027.

Market Dynamics

High government spending on development of agriculture sector, increasing R&D and product development activities for development of advanced devices that aid in lowering the operational cost and increasing efficiency are the major factors expected to drive the growth of global market. In addition, high adoption of automation in farming coupled with adoption of devices such as guidance and steering systems, Global Positioning System (GPS), sensors, and yield monitors are among other factors expected to further support the growth of target market.

Business development activities by major players in order to increase the customer base and enhance the profit share is another factor expected to further support the growth of target market.

• In 2018, AGCO an agricultural equipment manufacturing company introduced Fendt IDEAL in North America. This product launch is expected to help the company to enhance the customer base and increase the profit ratio.
• In 2017, Deere & Company acquired Blue River Technology a pioneer in the use of computer vision and robotics for agriculture. This acquisition is expected to help the company to strengthen its position in the US market and increase the profit.
• In 2017, CLAAS partnered with ASKO Agricultural Machinery Industry. This partnership is expected to help the company expand the company business.

Favorable business policies in emerging economies and emergence of small and mid-size enterprises with new solution and services are among other factors expected to boost the growth of target market.

However, factors such as high capital investment and lack of skilled technical experts for efficient handling of hardware are factors expected to hamper the growth of global precision harvesting market. In addition, lack of standardization and safety issues with precision harvesting is another factor expected to further challenge the growth of target market.

Increasing investment by major players for R&D activities, coupled with advancements in low-cost devices are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreements between regional and international players is another factor expected to support the revenue traction of target market.

Precision Harvesting Market Segment Analysis, 2019

The global precision harvesting market is segmented into product, offerings, and application. The application segment is further bifurcated in to crop, greenhouse, horticulture, and others. Among offerings the hardware segment is expected to account for significant revenue share in the global market. The product segment of the global market is further divided into combine harvesters, harvesting robots, and self-propelled forage harvesters.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to high government spending on development horticulture. In addition, availability of advanced infrastructure in the region is resulting in players focus on offerings low cost services in order to lower the operation cost is another factor expected to further support the growth of target market.

Asia Pacific is expected to witness faster growth in the near future owing to high government spending on development of agriculture sector. In addition, rising crop demand, coupled with farmers approach towards lowering the labor cost is resulting in demand for smart robots this is another factor expected to further support the growth of target market

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

The market research study on “Precision Harvesting Market (Product: Combine Harvesters, Harvesting Robots, and Self-propelled Forage Harvesters; Offerings: Hardware, Software, and Services; Application: Crop, Greenhouse, Horticulture, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global precision harvesting market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global precision harvesting market segment by product, offerings, application and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global precision harvesting market size and segment markets by product, offerings, application and geography along with the information on companies operating in the market. The precision harvesting market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report AgJunction Inc., Raven Industries, Inc., AG Leader Technology, Inc., FFRobotics, Precision Planting LLC, AGCO Corporation, Trimble Inc., Deere & Company, and Abundant Robotics, Inc.

Market Segmentation

Market By Product

Combine Harvesters

Harvesting Robots

Self-propelled Forage Harvesters

Market By Offerings

Hardware

• Automation & Control System
• Sensing Devices
• Others

Software

Services

Market By Application

• Crop
• Greenhouse
• Horticulture
• Others
  
  

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa