Harvesting Technology Market Trends That Will Shape the Next Decade: Insights from Generative AI Transforming Agricultural Practices

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How Large Will the Harvesting Technology Market Size By 2025?
The market size for harvesting technology has experienced constant growth in the past few years. It is projected to expand from $13.64 billion in 2024 to $14.23 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 4.3%. The surge in growth during the historical era is due to factors such as market transformations, economic impacts, advancement in research and development, consumer acceptance, and environmental worries.

How Big Is the Harvesting Technology Market Size Expected to Grow by 2029?
The market size for harvesting technology is projected to experience significant expansion in the coming years, reaching a value of $17.81 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%. The predicted growth during the projection period can be linked to the market's dynamics, trends in research and development, the rate of consumer acceptance, sustainability trends, and regulatory scenarios. Key trends expected during the projection period encompass the incorporation of automation, farming driven by data, customization and adaptability, solutions that are sustainable and environmentally friendly, enhancement of precision and efficiency, and control and monitoring from remote locales.

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Which Key Market Drivers Powering Harvesting Technology Market Expansion and Growth?
The rise in the use of IoT devices is anticipated to fuel the expansion of the harvesting technology market. These devices are physical units connected to the internet and equipped with sensors, software, and other technology. The proliferating use of IoT devices is primarily due to growing wireless connectivity access, increasing demand for automation and intelligence, and the surge of cloud computing. This allows for real-time surveillance and data collection in agricultural practices. For example, in 2022, the Internet of Things (IoT) market in India is expected to grow by 18%, resulting in 14.4 billion active connections by 2025 as projected by the India Brand Equity Foundation (IBEF), a semi-government organization based in India. In addition, it is predicted that the number of connected IoT devices will skyrocket to almost 27 billion by 2025, propelled by a relaxing of supply constraints and further growth acceleration. Consequently, the continued uptake of IoT devices will stimulate the expansion of the harvesting technology market.

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What Long-Term Trends Will Define the Future of the Harvesting Technology Market?
Prominent corporations in the field of harvesting technology are innovating with high-tech approaches, such as generative AI-driven agri-intelligence systems, to boost agricultural production, streamline resource utilization, and boost overall agricultural efficiency. Gen AI-driven agri-intelligence platforms are state-of-the-art technology frameworks that leverage generative AI to process agricultural data and derive insights for farming activities. Cropin Technology, an agri-tech firm from India, for instance, rolled out Sage, the first real-time Gen AI-powered agri-intelligence platform, in July 2024. The purpose of Sage is to grant farmers insightful data through real-time analysis of extensive agricultural data, empowering them to make data-driven decisions that increase agricultural production, improve resource management, and encourage environmentally friendly farming practices. This groundbreaking platform harnesses generative AI to provide advance analytics, monitor crop health, and suggest personalized recommendations suited to specific farming conditions.

What Are the Emerging Segments in the Harvesting Technology Market?
The harvesting technologymarket covered in this report is segmented -

1) By Technology: Light Energy Harvesting, Vibration Energy Harvesting, Frequency Energy Harvesting, Thermal Energy Harvesting, Radio Frequency Energy Harvesting
2) By Component: Power Management Integrated Circuits, Storage System, Transducers, Sensors, Other Components
3) By Application: Horticulture, Greenhouse, Crops, Other Applications

Subsegments:
1) By Light Energy Harvesting: Solar Panels, Photovoltaic Cells
2) By Vibration Energy Harvesting: Piezoelectric Generators, Electromagnetic Harvesters
3) By Frequency Energy Harvesting: RF-To-DC Converters, Antenna Systems
4) By Thermal Energy Harvesting: Thermoelectric Generators, Heat-To-Power Converters
5) By Radio Frequency Energy Harvesting: RF Energy Harvesting Chips, Rectennas

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Who Are the Global Leaders in the Harvesting Technology Market?
Major companies operating in the harvesting technology market include Cymbet Corporation, Mide Technology Corporation, Powercast Corporation, Analog Devices Inc., EnOcean GmbH, ABB Ltd., Fujitsu Limited, Honeywell International Inc., STMicroelectronics N.V., Koch Engineered Solutions LLC, Advanced Cooling Technologies Inc. (ACT), THALES Group, Paragraf Ltd., Insolight SA, McQ Inc., Ilika Technologies Ltd., Seatrec Ltd., Enteligent Inc., ICE Thermal Harvesting, Abundant Robotics Inc., AGJunction Inc.

Which are the Top Profitable Regional Markets for the Harvesting Technology Industry?
North America was the largest region in the harvesting technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global harvesting technology market during the forecast period. The regions covered in the harvesting technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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