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Harvesting Robot Market Entry Barriers: Overcoming Challenges for Successful Market Penetration by 2031

06-28-2023 01:38 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Report Ocean

Harvesting Robot Market Entry Barriers: Overcoming Challenges

The global harvesting robot market is experiencing significant growth, with a market value of USD 512.4 million in 2020 and a projected value of USD 1,827.9 million by 2027. The market is expected to grow at a compound annual growth rate (CAGR) of 19.9% during the forecast period. Harvesting robots are designed to automate the process of picking fruits under specific environmental conditions. The increasing demand for food security and the growing awareness of smart agriculture are driving the market growth. Additionally, the need for high productivity from existing farmland and the utilization of real-time multimodal robot systems in the field are boosting market expansion.

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One of the key growth influencers is the rising demand for food security. As the global population increases, there is a growing need to ensure food availability and accessibility. This has led to increased automation in the agriculture sector, including the harvesting stage. Automation technologies, such as harvesting robots, help optimize the farming process and enhance productivity, contributing to food security.

The gradual increase in awareness regarding smart agriculture is another significant factor driving the adoption of harvesting robots. Smart agriculture involves the use of advanced technologies like sensors, the Internet of Things (IoT), robots, location systems, and artificial intelligence (AI) on farms. Harvesting robots play a crucial role in smart agriculture by improving the efficiency and quality of food production. Farmers are increasingly recognizing the benefits of advanced farming technology, which is fueling the demand for harvesting robots.

The global harvesting robot market is segmented based on robot type, harvesting type, and application. In terms of robot type, there are semi-autonomous robots and fully autonomous robots. The semi-autonomous robots segment currently holds the largest market share, particularly in developing nations. However, the fully autonomous robots segment is expected to grow at a faster rate during the forecast period.

Based on harvesting type, the market is segmented into fruit harvesting, vegetable harvesting, grain harvesting, and others. Fruit harvesting is projected to grow at the fastest rate due to the increasing demand for fruits in various industries such as syrups, juices, and jellies. The grain harvesting segment is also expected to witness significant growth, surpassing USD 259.8 million by 2027.

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In terms of application, the market is divided into outdoor agriculture and greenhouse agriculture. The outdoor agriculture segment currently holds the largest market share due to the extensive adoption of outdoor farming practices globally. However, the greenhouse agriculture segment is expected to grow at a faster rate, driven by the increasing establishment of greenhouses worldwide.

Geographically, the European region holds the largest market share, accounting for approximately 40% of the market. The rising number of farmers adopting harvesting robots in Europe contributes to its dominant position. The North American region holds the second-largest market share due to its well-established agricultural sector. The Asia Pacific region is expected to grow at the fastest rate, with countries like Japan, India, China, and Australia gradually adopting automation and advanced technologies in agriculture.

Key players in the global harvesting robot market include Agrobot, CERESCON B.V., Abundant Robotics Inc., Energid Technologies Corporation, FFRobotics, Green Robot Machinery Pvt. Ltd, HARVEST CROO, Harvest Automation, Metomotion, and Root AI, among others. These companies are actively involved in collaborations, mergers and acquisitions, and new product launches to strengthen their market presence. For example, Kubota, a Japanese company, invested in the U.S.-based agriculture technology startup Abundant Robotics, Inc. in January 2020, aiming to contribute to labor-saving and efficiency improvement in farming in the U.S. and Canada.

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In conclusion, the global harvesting robot market is experiencing significant growth due to factors such as the demand for food security and the increasing awareness of smart agriculture. The market is segmented based on robot type, harvesting type, and application. Europe currently leads the market, followed by North America, while the Asia Pacific region is expected to grow rapidly. Key players are implementing various strategies to gain a competitive edge.

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