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Meeting Rising Food Demand With The Growth Of The Smart Harvest Market: A Key Factor Shaping the Future of the Smart Harvest Market in 2025
Smart Harvest Global Market Share
The surge in the need for food is predicted to drive the expansion of the smart harvest market in the future. The desire for food constitutes the quantity individuals are ready and capable of purchasing at a specific cost and time. Smart harvesting could cater to this escalating food requirement by improving agricultural productivity and efficiency. Smart agriculture approaches allow growers to individually monitor plants and modify their nutrition, thereby preventing conditions and enhancing crop health. It also deploys a range of ground-breaking technologies that contribute to increasing farm output and effectiveness. For example, the Food and Agriculture Organization, a Canada-based global organization dedicated to defeating hunger and bolstering nutrition and food security, published a report in April 2023 stating that world wheat utilization rose from about 762 million tons in 2020/2021 to around 773 million tons in 2021/2022. This is predicted to jump to 780 million tons in 2022/2023. Consequently, the rising demand for food is fueling the smart harvest market's growth.
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What growth opportunities are expected to drive the smart harvest market's CAGR through 2034?
Recent years have seen a swift expansion in the size of the smart harvest market. The projections are robust, indicating growth from a valuation of $17.84 billion in 2024, to an even more impressive $19.95 billion in 2025. This suggests a compound annual growth rate (CAGR) of 11.8%. Factors contributing to this significant growth during the historic period include the rising demand for plant-based proteins, the utilization of functional properties in food processing, the preference for gluten-free and allergen-free alternatives, the broad spectrum of uses in food products, and the worldwide proliferation of soy production.
The market size of smart harvest is predicted to experience a swift expansion in the forthcoming years. The market is set to grow to "$32.7 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 13.1%. The surge in growth during the forecast period can be ascribed to factors such as the widening scope in meat substitute market, functional and nutritional advantages, R&D efforts, increasing global population, and policies favouring sustainability and environmental protection. Foreseen trends during this forecast period include advancements in food processing, the rise in the demand for clean label and natural ingredient products, a wider range of soy flour products, food fortification, and the incorporation of gluten-free functional properties in food.
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What are the emerging trends shaping the future of the smart harvest market?
Advancements in product technology have become a significant developing trend in the smart harvest market. Notable players in this sector are introducing cutting-edge technologies like Internet of Things (IoT)-based Smart Kits, which are designed to refine agricultural processes, provide real-time crop health updates, and boost overall yield while at the same time decreasing labor costs. An IoT-based Smart Kit combines IoT devices and sensors to gather, scrutinize, and transmit data immediately for diverse applications. For instance, in March 2023, Krish-e, an agritech firm based in India, unveiled the Krish-e Smart Kit (KSK), an IoT-based Smart Kit. This tool is engineered to supply farmers with real-time data regarding soil conditions, moisture levels, and crop health, thereby empowering them to make informed decisions that maximize resource use and enhance crop yields. This revolutionary tool aims to heighten productivity and sustainability in farming, arming farmers with the necessary technology to prosper in a competitive market.
Which growth-oriented segments of the smart harvest market are leading the industry's development?
The smart harvest market covered in this report is segmented -
1) By Components: Hardware, Software
2) By Crop Type: Fruits, Vegetables
3) By Site Of Operation: On-Field, Greenhouse, Indoor
4) By End Users: Agriculture, Horticulture, Floriculture, Vertical Farming, Other End Users
Subsegments:
1) By Hardware: Sensors, Drones, Automated Machinery, Robotics, GPS Systems
2) By Software: Farm Management Software, Data Analytics Software, Crop Monitoring Applications, Yield Prediction Software, Supply Chain Management Software
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What regions are leading the charge in the smart harvest market?
Western Europe was the largest region in the smart harvest market in 2024. North America is expected to be the fastest-growing region in the global smart harvest market during the forecast period. The regions covered in the smart harvest market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the smart harvest market?
Major companies operating in the smart harvest market include Robert Bosch GmbH, Agrobot S L, Deere and Company, Harvest Automation Inc., Panasonic Corporation, Root Al Inc., Abundant Robotics Inc., Harvest CROO Robotics LLC, FFRobotics Ltd., Iron Ox Inc., Vision Robotics Corp., Energid Technologies Corp., Metomotion Ltd., Smart Harvest Agritech Ltd., Dogtooth technologies Ltd., Octinion, Ripe Robotics Pty Ltd., Agrobotix LLC, Fieldwork Robotics Ltd., Naio Technologies, FarmWise Labs, Inc., Green Robot Machinery Private Limited, Saga Robotics AS, Harvesting Inc., Octagrow Ltd., Metos Oy AB, Yanmar Co. Ltd., Juniper Systems Inc., Caterpillar Inc., Bobcat Company
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What Is Covered In The Smart Harvest Global Market Report?
• Market Size Forecast: Examine the smart harvest market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the smart harvest market for a structured understanding.
• Key Players Overview: Analyze major players in the smart harvest market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart harvest market.
• Segment Contributions: Evaluate how different segments drive overall growth in the smart harvest market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart harvest market.
• Industry Challenges: Identify potential risks and obstacles affecting the smart harvest market.
• Competitive Landscape: Review strategic developments in the smart harvest market, including expansions, agreements, and new product launches.
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