Hardware led the market in terms of revenue in 2019 and it expected to remain dominant during the forecast period.
Precision harvesting market to grow to a level of US$ 22.9 billion
WORLD BY HUGO CLAVER
The global precision harvesting market, which was valued at US$ 11.6 billion in 2019, is ex- pected to register a CAGR of 8.6% from 2020 to 2027, according to a new report by Grand View Research. According to the report, in- creasing adoption of autonomous combine harvesters and harvesting robots, increasing mechanisation of farms in developing econo- mies of Africa and the Asia Pacific region, and increased labour costs due to a shortfall of skilled labour are the significant factors driv- ing this market growth. The report states that In the next three decades, the global popula- tion is expected to increase by an additional 2.2 billion people. At the same time, the avail- able water and land resources are decreasing due to pollution, land degradation and urban encroachment. This entire scenario has funda- mentally altered traditional methods of food
production, forcing farmers to adopt precision harvesting techniques.
Transmute agriculture The researchers state that precision harvesting is capable of transforming the agriculture sec- tor as well as old-style harvesting activities into more economical and efficient ones. “The market is driven by increasing global demand for food, the need to minimise crop wastage during harvesting, and increased crop yields and profitability. Also, government initiatives in various countries are encouraging farmers to adopt advanced technology and agricultur- al machinery and tools to improve crop yields.” The report segments the precision harvesting market into hardware, software and services. Hardware led the market in terms of revenue in 2019 and is expected to remain dominant over the forecast period, while the software segment is anticipated to register a CAGR of over 11% during the same period. Predictive analytics
software is used to provide guidance to farmers about crop rotation, soil management, optimal planting times, and harvesting times.
Increasing mechanisation Crop harvesting had the largest market share due to more mechanisation in open field tradi- tional farming, which includes crops such as sugarcane, corn, soybean, maize, cotton, wheat, and rice. Increasing adoption of autono- mous precision harvesting equipment is one of the main reasons for growth. The greenhouse harvesting segment is expected to register the highest CAGR over the forecast period. Chang- ing climatic conditions, environmental prob- lems, soil degradation, groundwater depletion, unavailability of farmworkers, and the need for data analysis to improve farm productivity are leading to an increased need for greenhouses. These use robotic harvesting systems such as automatic conveyor and material handling, harvesting robotic arms, and spacing robots.
▶ FUTURE FARMING | 22 May 2020 7
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