Global Harvesting Technology Market at a rate of CAGR of 6.50% in the forecast period 2022 to 2029
Market Analysis and Size
· Data Bridge Market Research analyses that the harvesting technology market was growing at a value of 12.51 billion in 2021 and is expected to reach the value of USD 20.70 billion by 2029, at a CAGR of 6.5% during the forecast period of 2022-2029.
· In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, technological advancements and patent analysis.
· A number of newly developed and efficient energy applications, widespread acceptance of renewable energy sources, and green energy harvesting are all expected to play important roles in the global harvesting industry's growth.
· The report offers a complete and intelligent analysis of the competition, segmentation, dynamics, and geographical advancement of the Global Harvesting Technology market.
· As today’s businesses greatly demand a market research analysis before taking any verdict about the products, opting for such a market research report is vital for the businesses.
· This market study has been analyzed and takes into account the CAGR of the market, valuation, volume, revenue (historical and forecast), sales (current and future), and other key factors related to the Global Harvesting Technology market.
· The report describes the realistic concepts of the market in a simple and plain manner in this report.
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Harvesting Technology Market Dynamics
Drivers
The shortage of labour in agricultural practices
A labor shortage in agricultural practices is the primary factor driving farming communities to use efficient harvesting methods. High-value crops such as apples, strawberries, and sweet peppers are becoming less economically viable due to rising labour costs and a decreased number of skilled workers. Farmers of such fruits are increasingly turning to crop sensing solutions to facilitate effective plucking without causing physical damage to the fruit.
Implementation of smart harvesting practices to meet rising food demand globally
Rapid population growth is putting pressure on the world's agricultural sector to increase productivity to meet rising food demand. Farmers are increasingly implementing smart harvest technologies such as harvesting robots, automation, control systems, sensors, and imaging systems to increase profitability and output in less time and at a lower cost. The scarcity of arable land is a major factor driving demand for indoor farming activities and the increased use of smart harvesting technologies to reduce labour costs.
Opportunity
Firms in the target industry focus on business growth through strategies such as advanced product launches, capacity expansion, and heavy production investments in their facilities, which are expected to flourish soon as the global harvesting technology market grows.
Restraints
The high initial cost of purchasing and integrating machines is expected to impede the growth of the precision harvesting market.
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Global Harvesting Technology Market Scope
The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
· Light energy harvesting
· Vibration energy harvesting
· Frequency energy harvesting
· Thermal energy harvesting
· Radio frequency energy harvesting
Components
· Power Management Integrated Circuits
· Storage system
· Transducers
· Sensors
· Others
Application
· Horticulture
· Greenhouse
· Crops
· Others
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This wide-ranging and sophisticated primary analysis report highlights numerous facts such as development factors, business enhancement strategies, statistical growth, and financial gain or loss to help readers and clients to understand the market on a global scale. To generate this world-class Global Harvesting Technology Market report, the combination of the best industry insight, practical solutions, talent solutions, and the latest technology has been used. The Global Harvesting Technology Market report is formulated based on the market type, organization size, availability on-premises, the end-user’s organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific, and Middle East Africa.
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