Press release
Transforming Agriculture with Automated Harvesting Systems
According to The Business Research Company's, The automated harvesting system market size has grown strongly in recent years. It will grow from $2 billion in 2023 to $2.14 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to growth in commercial aviation, military aircraft modernization, rise in air travel, demand for fuel-efficient aircraft, global aerospace industry growth, regulatory standards..
The automated harvesting system market size is expected to see strong growth in the next few years. It will grow to $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to research and development investments, rising demand for business jets, global air traffic expansion, innovations in electric vtol aircraft, focus on reliability and safety.. Major trends in the forecast period include hybrid electric propulsion systems, integration of permanent magnet motors, lightweight and compact motor designs, digitalization and condition monitoring, customization for specific aircraft types..
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Market Drivers and Trends:
Increased demand for industrial crops is expected to propel the growth of automated harvesting systems. Industrial crops are crops that are often not offered directly for eating because they must be processed industrially before use, and they include sugarcane, tea, pepper, and coconut. Automated harvesting systems are used to remove crops from the vine. Before removing crops from the vine, the harvesting robot employs computer vision to detect and gauge the ripeness of the fruit. Automated harvesting systems for industrial crops can help increase efficiency and productivity in agriculture. For instance, in December 2021, according to the United States Department of Agriculture, a US-based government organization, cotton production is anticipated to reach 18.3 million 480-pound bales, marking a 25% increase from the 2020 output. Therefore, increased demand for industrial crops is driving the growth of the automated harvesting systems market going forward.
Product innovations are a key trend gaining popularity in the automated harvesting systems market. Companies operating in the automated harvesting systems market are adopting new technologies to sustain their position in the market. For instance, in January 2023, AGRIST Co. Ltd., a Japan-based company that solves agricultural problems with technology, launched a new product called the L pepper harvest robot. The new L robot selects harvest-ready peppers through stacked leaves with millimeter precision. The L robot is a method for collecting bell peppers automatically. Using a combination of different types of cameras and our proprietary AI (artificial intelligence) system, the robot can recognize and select harvest-ready peppers with millimeter precision through thick leaves. """"L"""" has an end-effector on an arm that drags in stems until it reaches the target pepper, then clips it and folds it to drop it into a collection box. The robot patrols farms daily to monitor crop development and advise farmers on best farm management.
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Major Key Players of the Market:
ABB Ltd.; Honeywell International Inc.; Advanced Linear Device Inc.; e-peas SA; Analog Device Inc.; Texas Instruments Incorporated; Cymbet Corporation; EnOcean GmbH; STMicroelectronics NV; Cypress Semiconductor Corporation; Powercast Corporation; Laird Thermal Electronics Inc.; DCO Systems Ltd.; Drayson Technologies Ltd.; CNH Industrial N.V.; 3A Composites India Private Limited; Robert Bosch GmbH; DeepField Robotics; Clearpath Robotics Inc.; AgEagle Aerial Systems Inc.; BouMatic Robots BV; Deere & Company; Blue River Technology Inc.; Parabellum Acquisition Corp.; Abundant Robotics Inc.; Grownetics Inc.; GlobalFoundries Inc.; AutoProbe Technologies LLC; YANMAR HOLDINGS CO. LTD.; Kubota Agricultural Machinery India Pvt. Ltd.
Automated Harvesting System Market 2024 Key Insights:
• The automated harvesting system market will grow to $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Rising Demand For Industrial Crops Fuels Automated Harvesting Systems Growth
• Innovative Product Launches Transforming The Landscape Of Automated Harvesting Market
• North America was the largest region in the automated harvesting system market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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