What Has Been the Growth of the Precision Harvesting Market So Far?
The precision harvesting market has seen considerable growth due to a variety of factors.
• The precision harvesting market has experienced strong growth in recent years. It will rise from $15.86 billion in 2024 to $17.43 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.9%.
This growth is driven by sustainable farming practices, rising awareness of precision agriculture, larger farm sizes, the growth of agri-tech startups, and a greater focus on crop quality.
What Is the Forecasted Market Size and Growth Rate for The Precision Harvesting Market Size In The Coming Years?
The precision harvesting market is expected to maintain its strong growth trajectory in upcoming years.
• The precision harvesting market is projected to grow to $25.15 billion by 2029 at a CAGR of 9.6%.
Growth is attributed to the need for high crop yields, farm mechanization, global food demand, rising labor costs, and demand for high-quality produce. Key trends include technological advancements, autonomous tractors, GPS systems, yield monitoring, and sensor technology.
What Factors Are Driving Growth In The Precision Harvesting Market?
The growing requirement for higher agricultural produce is predicted to push forward the development of the precision harvesting market. High crop yield pertains to the amount of agricultural output obtained per unit area of farmed land, generally gauged by weight or volume. Several elements such as urbanization, climate alterations, food security, increasing revenue, changing eating patterns, international trade, and market requirements, influence the demand for high crop yields. Precision harvesting approaches and technologies allow farmers to boost crop yields by improving productivity, lessening wastages, ameliorating quality, and making knowledgeable judgments based on real-time data and analytics. For instance, in February 2024, per the Department for Environment, Food and Rural Affairs, a UK governmental agency, it was reported that in 2022, harvested wheat production rose by 11% to above 15.5 million metric tons due to elevated yields, leading to a production value of £4.1 billion ($5.25 billion), a 50% escalation from 2021. In addition, in 2022, oilseed rape production surged by 39% to approximately 1,361 thousand tons, attributed to improved average yields and a rise in the sown area compared to 2021. As a result, the increasing need for high crop yields is fueling the expansion of the precision harvesting market.
What Are The Main Segments Of The Global Precision Harvesting Market?
The precision harvesting market covered in this report is segmented –
1) By Product: Combine Harvesters, Harvesting Robots, Self-propelled Forage Harvesters
2) By Offering: Hardware, Software, Services
3) By Application: Crop Harvesting, Greenhouse, Horticulture, Other Applications
Subsegments:
1) By Combine Harvesters: Grain Combine Harvesters, Corn Combine Harvesters, Rice Combine Harvesters, Multi-Crop Combine Harvesters
2) By Harvesting Robots: Fruit-Picking Robots, Vegetable-Picking Robots, Automated Grape Harvesters, Autonomous Berry Harvesters
3) By Self-Propelled Forage Harvesters: Corn Forage Harvesters, Grass Forage Harvesters, Sugarcane Forage Harvesters, Whole-Crop Forage Harvesters
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What Emerging Trends Are Influencing The Growth Of The Precision Harvesting Market?
Major businesses in the precision harvesting marketplace are concentrating on the creation of sophisticated products like automated harvesting systems. These systems assist farmers in boosting productivity and profits during the hectic harvest period. An automation harvesting mechanism involves the use of high-tech machinery and technology for harvesting activities, reducing human intervention significantly. These systems utilize robotics, sensor technology, artificial intelligence, and more to harvest crops with great precision and efficiency. For example, in June 2024, Case IH, an agriculture machinery-producing firm based in the US, introduced their newest Axial-Flow 260 series combine. This unique, no-subscription technology is specifically built to cater to growers' distinct needs. The Axial-Flow 260's harvest command combine automation feature automatically alters settings to optimize throughput and grain quality. It incorporates the high-resolution Pro 1200 Dual Displays, enabling the operators to monitor machine metrics, field efficiency, and grain quality in real-time effortlessly. The 260 series have dual Pro1200 displays that offer an easy-to-use Harvest Command automation technology, advanced guidance, mapping functions and also, compatibility with other Pro700-enabled machinery. The superior tech integrated within the combine ensures maximum throughput and grain handling by the single-rotor Case IH harvesting technology.
Who Are the Key Players In The Precision Harvesting Market?
Major companies operating in the precision harvesting market are:
• Deere & Company
• CNH Industrial NV
• KUBOTA Corporation
• AGCO Corporation
• Trimble Inc.
• Topcon Corporation
• Raven Industries Inc.
• Precision Planting LLC
• TeeJet Technologies
• CLAAS KGAA mbH
• Kinze Manufacturing Inc.
• Ag Leader Technology
• FarmWise Labs Inc.
• Clearpath Robotics Inc.
• Sentera Inc.
• Farmers Edge Inc.
• DICKEY-john Corporation
• Taranis Visual Ltd.
• senseFly SA
• PrecisionHawk Inc.
• Octinion NV
• VineView Sciences Inc.
What Is The Most Dominant Region In The Precision Harvesting Market?
North America was the largest region in the precision harvesting market in 2023. The regions covered in the precision harvesting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
