Artificial Intelligence
Global Harvesting Robot Market to Reach Valuation of US$ 3,463.1 Million by 2031: Astute Analytica
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New Delhi, Feb. 21, 2023 (GLOBE NEWSWIRE) — The harvesting robot market is a rapidly growing sector that combines robotics and agriculture to improve the efficiency and productivity of farms. With the global population increasing, the demand for food is also rising, and traditional farming methods are struggling to keep up. As a result, harvesting robots are being looked at as a potential solution, as they can perform labor-intensive tasks like harvesting crops, weeding, and planting with greater speed, precision, and reliability than human workers.
The business outlook for the global harvesting robot market is promising, with the market expected to grow significantly over the next few years. Factors driving this growth include the increasing demand for food, labor shortages in the agriculture sector, and the development of advanced technologies like artificial intelligence, machine learning, and computer vision. Companies that specialize in designing and manufacturing harvesting robots are poised to benefit from this trend, as are farmers who can save on labor costs and increase their crop yields.
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Outdoor Agriculture Segment to Capture Over 57% Revenue Share
According to Astute Analytica’s market research analysis, the global harvesting robot market in the outdoor agriculture segment has significant growth potential. The segment is currently responsible for more than 57% of the market’s revenue and includes crops such as grains, fruits, vegetables, and nuts.
The report identifies several key drivers of growth in this market segment. Firstly, labor shortages and rising labor costs are increasing the demand for automation solutions. The use of harvesting robots allows farmers to reduce labor costs and increase efficiency, particularly for crops that require intensive labor.
Secondly, the adoption of precision agriculture techniques is driving the growth of the harvesting robot market. Precision agriculture involves using data and technology to optimize crop yields and reduce waste. Harvesting robots are a critical component of precision agriculture, allowing farmers to harvest crops at the optimal time and reduce waste while increasing yields.
Additionally, the need to improve food security and meet the growing demand for food is driving the adoption of harvesting robots in outdoor agriculture. With a growing global population, there is an increasing need for more efficient and sustainable farming practices. Harvesting robots allow farmers to increase their yields while reducing the amount of water, fertilizer, and pesticides needed to grow crops.
Geographically, the report on the global harvesting robot market indicates that the Asia Pacific region is expected to witness the highest growth in the outdoor agriculture segment of the harvesting robot market. The increasing demand for food, rising labor costs, and adoption of precision agriculture techniques are the primary drivers of growth in this region. Key markets for harvesting robots in the outdoor agriculture segment include China, Japan, and India.
Increasing Emphasis on Automation and Adoption of Advanced Technology Flourishing Demand for Harvesting Robots
The harvesting robot market is experiencing a surge in demand, thanks to the recent advancements in artificial intelligence, machine learning, the Internet of Things, and big data. This has enabled robots to become more sophisticated, affordable, and evidence-driven than ever before. Among the most significant trends in harvesting robots is selective harvesting robotics, which utilizes soft-touch robotics and lidar sensing systems to identify ripe fruits while avoiding unripe ones, allowing farmers to harvest crops around the clock.
Crop harvesting robots are also gaining popularity due to the need for automation in agricultural processes and improved accuracy in harvesting. The market forecast for 2030 predicts an impressive growth rate of 21%. In 2022, the global Harvesting Robot Market was valued at US$ 591.1 Mn, and this number is expected to increase further.
Moreover, the advances in AI, ML, and IoT are driving robots into various sectors, including warehouses, distribution centers, and manufacturing facilities. This is increasing the efficiency of operations across industries. In summary, the harvesting robot industry is witnessing significant growth, with increasing demand, expanding market opportunities, and technological advancements that are revolutionizing agricultural processes.
Europe is at the Forefront of the Global Harvesting Robot Market
Europe has been at the forefront of the global market for a few reasons, including a strong focus on research and development, technological advancements, favorable government policies, and a robust agriculture sector.
One key factor contributing to Europe’s dominance in the harvesting robot market is the region’s commitment to research and development. Many of the world’s top robotics research institutions are located in Europe, and this has allowed for the development of cutting-edge technologies and innovations. The European Union has also invested significant funding in research and development for agriculture robotics, creating opportunities for businesses and startups to emerge and succeed in the market.
Another reason why Europe is keeping its dominance over the global harvesting robot market is the region’s focus on technological advancements. European companies are constantly pushing the boundaries of robotics and automation, developing new technologies and systems that help farmers improve their operations. As a result, European agriculture is becoming more efficient, sustainable, and profitable.
Moreover, Europe has favorable government policies and regulations that support the adoption of agricultural robots. The region’s governments have implemented measures that encourage the use of robotics in farming, such as subsidies, tax incentives, and favorable regulatory frameworks. This has given farmers and agribusinesses the support they need to invest in and adopt advanced farming technologies.
Top 7 Players Generates Only 13% Revenue of the Global Harvesting Robot Market
The global harvesting robot market is highly competitive, with several key players vying for market share. As per Astute Analytica, top 7 players namely Agrobot, FFRobotics, Green Robot Machinery Pvt. Ltd, Harvest Automation, Energid Technologies Corporation, Metomotion, and Root AI Inc. are accounting for around 13% revenue share.
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Apart from them, AGCO Corporation and Deere & Company are two of the major players in the market. AGCO Corporation is a leading player, offering a range of advanced farming equipment, including robotic harvesters. Their Fendt IDEAL combine harvester is a top-of-the-line product that offers a high level of automation and precision in harvesting crops. Deere & Company is also a major player in the market, with their John Deere brand well-known for its range of farming equipment, including harvesting robots. Their S-Series combine harvester is a highly regarded product, offering cutting-edge technology and advanced automation for efficient crop harvesting.
Additionally, other companies such as Harvest Automation, Energid Technologies, and Abundant Robotics are emerging as competitors in the market, with innovative products that offer efficient and cost-effective solutions for crop harvesting. The competition among these key players is driving innovation and development in the harvesting robot market, resulting in more advanced and efficient technologies for farmers to improve their operations.
Some of the Top Market Players Are:
- Agrobot
- Dogtooth Technologies Limited
- FFRobotics
- Green Robot Machinery Pvt. Ltd.
- Harvest Automation
- HARVEST CROO
- Other Prominent Players
Tomato Harvester Companies
- CERESCON B.V.
- Panasonic
- Energid Technologies Corporation
- Four Growers
- Metomotion
- Root Al, Inc.
- Tortuga Agriculture Technologies, Inc.
- Appharvest
- Inaho Inc.
- Denso Design
- Xihelm
- Certhon Harvest Robot
- Squse
- Other Prominent Players
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About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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