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Meeting Rising Food Demand With The Growth Of The Smart Harvest Market: The Driving Engine Behind Smart Harvest Market Evolution in 2025
Smart Harvest Market
Smart Harvest Market Size Growth Forecast: What to Expect by 2025?
The market size of smart harvest has witnessed a swift expansion in the past few years. The market is projected to increase from $17.84 billion in 2024 to $19.71 billion in 2025, with a compound annual growth rate (CAGR) of 10.4%. Factors such as an increased demand for plant-based proteins, the advantageous traits in food processing, gluten-free and allergen-free alternatives, varied usage in food items and the worldwide growth of soy production have all contributed to this growth during the historic period.
How Will the Smart Harvest Market Size Evolve and Grow by 2029?
The market size for smart harvest is projected to experience a swift expansion in the upcoming years, ballooning to $31.79 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 12.7%. The anticipated growth during this forecast period is driven by factors such as development in the meat alternatives sector, nutritional and functional benefits, research and advancement, increasing global population, and the adoption of sustainable and eco-friendly practices. Key trends expected during this forecast period are the manifestation of innovation in food processing, the use of clean labels and organic ingredients, product diversity in soy flour, food fortification, and the integration of gluten-free features in food.
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What Drivers Are Propelling the Growth of Smart Harvest Market Forward?
The growing need for food is predicted to drive the expansion of the smart harvest market. The demand for food reflects the quantity of food that consumers are ready and capable of purchasing at a specific price and time. The rising food demand can be met through smart harvesting, which boosts agricultural productivity and efficacy. Smart farming methods empower farmers to keep track of individual plants and modify their nutrition, thereby facilitating the prevention of diseases and improving crop health. Moreover, it incorporates various modern technologies which can contribute to increasing agriculture yield and effectiveness. For instance, a report published by the Food and Agriculture Organisation, a Canada-based global organisation spearheading global efforts to eradicate hunger and enhance nutrition and food security, in April 2023, stated the global utilisation of wheat rose from roughly 762 million tons in 2020/2021 to approximately 773 million tons in 2021/2022 and is projected to rise to 780 million tons in 2022/2023. Consequently, the escalating food demand is fuelling the growth of the smart harvest market.
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What Long-Term Trends Will Define the Future of the Smart Harvest Market?
The rise of product advancements has become a significant trend in the smart harvest market. Leading entities in the intelligent harvesting industry are introducing sophisticated technology like the IoT-based Smart Kit, aiming to maximize agricultural efficiency, oversee crop wellbeing in real-time, and boost overall production while lessening labor expenses. An IoT-oriented Smart Kit mixes IoT gadgets and sensors to obtain, study, and relay data instantaneously for various uses. For example, in March 2023, India's agritech firm Krish-e debuted Krish-e Smart Kit (KSK), an IoT-enabled smart kit. KSK aims to offer farmers immediate updates on soil conditions, moisture levels, and crop health, aiding them to make conscious decisions that optimize resource utilization and enhance crop yield. Aimed at elevating productivity and sustainability in farming, this innovative kit equips farmers with the required technology to succeed in a challenging market.
What Are the Key Segments in the Smart Harvest Market?
The smart harvestmarket 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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Who Are the Key Players Shaping the Smart Harvest Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth 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
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