Market Analysis: Global Precision Harvesting Market
Increasing savings and efficiency in agriculture has resulted in global precision harvesting market to rise to a projected value of USD 23.78 billion by 2026 rising from its estimated value of USD 10.19 billion in 2018 growing with a CAGR of 11.18% in the forecast period of 2019-2026.
Market Definition: Global Precision Harvesting Market
Precision harvesting can be defined as a modern agricultural cultivation technique that involves the usage of various sensors and cameras to detect the appropriate period of time for cultivation for maximum yield. These sensors help in increasing the efficiency of crops and affecting the crop return by monitoring the soil, temperature, humidity, and monitoring crops.
- Increasing adoption of mechanical labour techniques in agriculture instead of labour-intensive labour methods due to the growing cost of labour; this factor is expected to act as a driver for the market growth
- Government promotion and support for adoption and applications for modern agriculture techniques; this factor is expected to act as a driver for the market growth
- High initial cost for purchasing and integration of machines is expected to restrain the market growth
- Lack of penetration and skills required by farmers to fully integrate precision harvesting and agriculture; this factor is expected to act as a restraint to the market growth
Segmentation: Global Precision Harvesting Market
- By Offering
- Guidance & Steering System
- Global Positioning System (GPS)
- Robotic Arm
- Yield Monitoring System
- By Product Type
- Harvesting Robots
- Self-Propelled Forage Harvesters
- Combine Harvesters
- By Application
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In December 2018, AgJunction announced that they had agreed to collaborate with Mahindra & Mahindra Ltd. The agreement will help both the companies deliver specific technological development and help in expanding their product portfolios.
- In July 2018, Clean Seed Capital announced that they had agreed to acquire HARVEST INTERNATIONAL, INC. With this acquisition both the companies will be able to enhance their technological offerings and provide consumers and farmers with modern technology.
Competitive Analysis: Global Precision Harvesting Market
Global precision harvesting market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of precision harvesting market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Precision Harvesting Market
Major competitors currently in the market are Deere & Company; Trimble Inc.; AgJunction; Raven Industries; CLAAS KGaA mbH; Ag Leader Technology; TEEJET TECHNOLOGIES; Topcon; DICKEY-john; CNH Industrial N.V.; Ploeger Oxbo Group; N.V. Dewulf S.A.; Clean Seed Capital; Pellenc | Agriculture | South Africa; KUBOTA Corporation; ISEKI & CO., LTD.; Harvest Automation; Vision Robotics Corporation; FFRobotics and HARVEST CROO.
Research Methodology: Global Precision Harvesting Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved