**Embracing Lucrative Opportunities: The Booming Harvesting Robot Market**
In a recent groundbreaking report, titled “Harvesting Robot Market Analysis and Forecast from 2023 to 2031,” industry experts shed light on the impressive growth trajectory and immense potential of the keyword market. This thriving sector has become a hotspot for savvy investors and stakeholders looking to capitalize on its rapid expansion.
The report leaves no stone unturned in its comprehensive analysis, delving into a wide range of factors that drive the market’s impressive growth. It meticulously segments the market based on Regions, Country, Company, and other key segments, providing invaluable insights for businesses seeking to make informed decisions and gain a competitive edge.
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The global harvesting robot market held a market value of USD 512.4 Million in 2020 and is forecasted to reach USD 1,827.9 Million by the year 2027. The market is anticipated to register a CAGR of 19.9% during the projected period.
Harvesting robots are meant for picking fruits automatically under certain environmental conditions. Growing demand for food security and gradually increasing awareness regarding smart agriculture are expected to fuel the market growth. Furthermore, the growing requirement for high productivity from existing farm areas coupled with the use of real-time multimodal robot systems in the field is anticipated to boost the market growth.
However, the inefficiency of harvesting robots is anticipated to restrain the market growth. The COVID-19 pandemic negatively impacted the market growth, as major players in the market reported a slight decline in their sales of harvesting robots
Growth Influencers:
Growing demand for food security
Food security is measuring the availability of food and individuals? ability to access it. Demand for food security is increasing and with it, demand for automation in the agriculture sector and its various stages is also rising. One of these stages is harvesting. Rising demand for automation in the sector is also expected to drive market growth. The rapid increase in the global population has led researchers and scientists to work out ways for ensuring food security.
Gradually increasing awareness of smart agriculture
Smart agriculture is the usage of technologies like sensors, the internet of things, robots, location systems, and artificial intelligence on a farm. Rising awareness regarding smart agriculture is boosting the adoption of robots, including harvesting robots. Using harvesting robots in smart agriculture optimizes the food production process and improves quality. Advanced farming technology proves as an essential part of the farmer?s daily work. This boosts the demand for market growth.
Segments Overview:
The global harvesting robot market is segmented based on the robot type, harvesting robot, and application.
By Robot Type
? Semi-Autonomous Robots
? Fully-Autonomous Robots
The semi-autonomous robots segment held the largest market share owing to its rising demand, especially in developing nations. The fully autonomous robots are expected to grow at the fastest rate of 20.6% during the forecast period.
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By Harvesting Type
? Fruit Harvesting
? Vegetable Harvesting
? Grain Harvesting
? Others
Fruit harvesting is expected to grow at the fastest rate of 20.7% owing to the rising demand for fruits for businesses such as syrups, juices, and jellies, among others. The grain harvesting segment is anticipated to surpass USD 259.8 Million in 2027.
By Application
? Outdoor Agriculture
? Greenhouse Agriculture
The outdoor agriculture segment is expected to hold the largest market share owing to the widespread outdoor agriculture sector. The greenhouse agriculture segment is anticipated to grow at the fastest rate owing to the increasing setup of greenhouses globally.
Regional Overview
Based on region, the global harvesting robot market is divided into Europe, Asia Pacific, Middle East & Africa, North America, and South America.
The European region held the largest market share of around 40% owing to the rising number of farmers demanding harvesting robots in the region. The North American region held the second largest market share owing to a well-established agricultural sector in the region.
The Asia Pacific region is expected to grow at the fastest rate of 23.4% owing to the slowly growing demand for automation and adoption of advanced technologies, such as harvesting robots in countries such as Japan, India, China, and Australia, among others.
Competitive Landscape
Key players operating in the global harvesting robot market include Agrobot, CERESCON B.V., Abundant Robotics Inc., Dogtooth Technologies Limited, Energid Technologies Corporation, FFRobotics, Four Growers, Green Robot Machinery Pvt. Ltd, HARVEST CROO, Harvest Automation, Metomotion, Tortuga Agricultural Technologies, Inc., and Root AI, Inc., among others.
These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in January 2020, Kubota, a Japan-based company invested in the U.S.-based agriculture technology startup Abundant Robotics, Inc. for contributing to labor-saving and efficiency improvement in farming in the U.S. and Canada.
The global harvesting robot market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Harvesting robot market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Harvesting robot market report answers questions such as:
? What is the market size and forecast of the Global Harvesting robot Market?
? What are the inhibiting factors and impact of COVID-19 on the Global Harvesting robot Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Global Harvesting robot Market?
? What is the competitive strategic window for opportunities in the Global Harvesting robot Market?
? What are the technology trends and regulatory frameworks in the Global Harvesting robot Market?
? What is the market share of the leading players in the Global Harvesting robot Market?
? What modes and strategic moves are considered favorable for entering the Global Harvesting robot Market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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