How Has the Smart Harvest Market Size Evolved in Recent Years?
The smart harvest market has seen considerable growth due to a variety of factors.
•The market for smart harvest has experienced significant expansion in the past few years. It is projected to rise from $17.84 billion in 2024 to $19.95 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.8%.
This growth in the historic period can be ascribed to the increasing demand for plant-based proteins, the importance of functional properties in food manufacturing, the requirement for gluten-free and allergen-free substitutes, the versatility in food product applications, and the worldwide increase in soy production.
What are the Market Size and Expected Growth Rates for the Smart Harvest Market?
The smart harvest market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations suggest a swift expansion in the smart harvest market in the forthcoming years, reaching "$32.7 billion in 2029 with a compound annual growth rate (CAGR) of 13.1%.
The predicted growth throughout the forecast period can be tied to the broadening of the meat substitutes market, functional and nutritional advantages, research and development advancements, global population increase, as well as sustainable and eco-friendly practices. The future timeframe also highlights significant trends such as food processing innovations, pure label and organic components, diversification of soy flour commodities, food fortification, and the gluten-free functional attributes in food.
Which Drivers Are Accelerating Growth In The Smart Harvest Market?
The growth of the smart harvest market is anticipated to be propelled by the escalating need for food. The amount of food that individuals are prepared and capable to purchase at a given price and time defines food demand. The emerging food demand can be met through smart harvesting, which increases agricultural productivity and efficiency. Smart farming techniques allow farmers to observe individual plants and modify their nutrition, thereby averting potential conditions and enhancing crop health. Additionally, it involves several state-of-the-art technologies that aid in boosting agricultural yield and effectiveness. For example, the Food and Agriculture Organization, a Canada-based international entity striving to eradicate hunger and amplify nutrition and food security, reported in April 2023 that global wheat utilization had increased from roughly 762 million tons in 2020/2021 to an approximate 773 million tons in 2021/2022. This figure is projected to further increase to 780 million tons in 2022/2023. Consequently, the escalating food demand is fueling the expansion of the smart harvest market.
What Are The Core Segments Of The Global Smart Harvest Market?
The smart harvest market covered in this report is segmented –
1) By Components: Hardware, Software
2) By Crop Type: Fruits, Vegetables
3) By Site Of Operation: On-Field, Greenhouse, Indoor
4) By End Users: Agriculture, Horticulture, Floriculture, Vertical Farming, Other End Users
Subsegments:
1) By Hardware: Sensors, Drones, Automated Machinery, Robotics, GPS Systems
2) By Software: Farm Management Software, Data Analytics Software, Crop Monitoring Applications, Yield Prediction Software, Supply Chain Management Software
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Which Emerging Trends Are Reshaping The Smart Harvest Market Size?
Product innovation is establishing itself as a prevalent trend in the smart harvest industry. Key players in the smart harvesting market have been exploring high-end technologies like the Internet of Things (IoT) incorporated Smart Kit to increase agricultural productivity, supervise crop health instantly, and boost total yield while decreasing labor expenses. The IoT-based Smart Kit is a technological innovation that utilizes IoT devices and sensors to gather, scrutinize, and convey data in real time for a variety of applications. For example, Krish-e, an agritech firm based in India, introduced the Krish-e Smart Kit (KSK), an IoT integrated Smart Kit, in March 2023. The KSK is developed to offer farmers immediate insights into soil status, humidity levels, and plant health, equipping them to make knowledgeable decisions that optimize resource usage and enhance crop output. This inventive tool seeks to boost efficiency and sustainability in farming, providing farmers with the necessary technology to excel in a competitive field.
Who Are the Key Players in the Smart Harvest Market?
Major companies operating in the smart harvest market include:
• Robert Bosch GmbH
• Agrobot S L
• Deere and Company
• Harvest Automation Inc.
• Panasonic Corporation
• Root Al Inc.
• Abundant Robotics Inc.
• Harvest CROO Robotics LLC
• FFRobotics Ltd.
• Iron Ox Inc.
• Vision Robotics Corp.
• Energid Technologies Corp.
• Metomotion Ltd.
• Smart Harvest Agritech Ltd.
• Dogtooth technologies Ltd.
• Octinion
• Ripe Robotics Pty Ltd.
• Agrobotix LLC
• Fieldwork Robotics Ltd.
• Naio Technologies
• FarmWise Labs
• Inc.
• Green Robot Machinery Private Limited
• Saga Robotics AS
• Harvesting Inc.
• Octagrow Ltd.
• Metos Oy AB
• Yanmar Co. Ltd.
• Juniper Systems Inc.
• Caterpillar Inc.
• Bobcat Company
What are the Regional Insights into the Smart Harvest Market?
Western Europe was the largest region in the smart harvest market in 2024. North America is expected to be the fastest-growing region in the global smart harvest market during the forecast period. The regions covered in the smart harvest market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
