The precision harvesting market was worth USD 10.4 billion in 2018 and is projected to reach USD 17.5 billion by 2023, at a CAGR of 10.94% from 2018 to 2023. The major drivers for the precision harvesting market are increasing farm mechanization in developing countries in Asia Pacific and Africa, increasing adoption of harvesting robots and autonomous combine harvesters, and increasing labor cost owing to shortage of skilled labor. Precision harvesting has the potential to transform the agriculture sector, making traditional harvesting activities more efficient and economical. The increasing global food demand, extended profitability and crop yield, and minimum wastage of crops during harvesting are the other factors fueling the market’s growth. Also, government initiatives in many countries are helping farmers adopt advanced agricultural and technological tools to improve yield.
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Deere & Company is a world leader in providing advanced, innovative precision harvesting products and services. The company has a strong brand name and a well-established distribution network, which makes it a leading market player. Product launches and acquisitions have been its key growth strategies. For example, in September 2017, the company acquired an artificial intelligence start-up, Blue River Technology, which develops cutting-edge machine vision tools to help farmers scan fields and assess crops. In August 2017, the company launched 4 innovative S700 series rotary combine harvester models–S770, S780, S785, and S790—for the UK and Irish markets. The S700 Combines integrates new technologies that optimize and automate grain harvesting, making it easier, faster, and more efficient for operators. Product enhancements and collaborations are expected to help the company offer innovative and improved technology and performance solutions.
AGCO is one of the leading players in the precision harvesting market. The focus on introducing updated and innovative products is its main strength. Apart from introducing new products, the company focuses on acquisitions. In September 2016, it acquired Cimbria Holdings Ltd (Denmark) to strengthen its position in the grain handling and storage industry in Europe.
Trimble’s agriculture division provides solutions that can solve complex technology challenges across the agriculture landscape. These solutions enable farmers and advisors to allocate scarce resources to produce a safe and reliable food supply in a profitable and environmentally sustainable manner. The company offers a wide range of products and services in the precision harvesting market. The company has done consistent product enhancements and product launches between 2014 and 2017. For example, in 2016, the company introduced the FactoryFit wireless IoT platform for water management, and an agriculture software platform. The company has partnerships with other market players.
Precision Harvesting Market by Product (Combine, Harvesting Robots, Forage Harvesters), Application (Crop, Horticulture, Greenhouse), Offering (Hardware - Sensors, GPS, Yield Monitors, Software, Services), and Geography - Global Forecast to 2023
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