Harvesting Technology Global Market Report 2024

The harvesting technology market has grown strongly in recent years. It will grow from $12.95 billion in 2023 to $13.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The expansion observed during the historic period can be ascribed to various factors, including shifts in the market landscape, economic influences, advancements in research and development, consumer adoption of new technologies, and heightened awareness of environmental concerns.

The harvesting technology market is expected to see strong growth in the next few years. It will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period can be linked to market dynamics, trends in research and development, rates of consumer adoption, sustainability trends, and the regulatory landscape. Key trends expected in the forecast period encompass the integration of automation, the implementation of data-driven farming practices, emphasis on customization and adaptability, the promotion of sustainability and eco-friendly solutions, enhancement of precision and efficiency, and the incorporation of remote monitoring and control.

The harvesting technology market is anticipated to experience significant growth due to the increasing adoption of IoT devices. These devices, connected to the internet and equipped with sensors and software, are driving growth through the expansion of wireless connectivity, rising demand for automation and intelligence, and the prevalence of cloud computing. In agriculture practices, IoT devices enable real-time monitoring and data collection. According to the India Brand Equity Foundation (IBEF), the IoT market in 2022 is projected to grow by 18%, reaching 14.4 billion active connections by 2025. The number of connected IoT devices is expected to surge to nearly 27 billion by 2025, fostering the growth of the harvesting technology market.

The demand for harvesting technology is set to be propelled by the increasing need for specialty crops. Specialty crops, including fruits, vegetables, dried fruits, tree nuts, horticulture, nursery crops, and floriculture, require specialized harvesting technology to enhance efficiency, maintain quality, and overcome challenges related to labor and variability. The Association of Equipment Manufacturers reported that in April 2021, there were approximately 184,000 farms cultivating specialty crops on over 10.4 million acres of land. The growth in demand for specialty crops will contribute to the expansion of the harvesting technology market.

A key trend in the harvesting technology market is the focus on product innovation by major industry players. Companies such as Deere & Company are investing efforts in developing innovative products to strengthen their market position. In August 2020, Deere & Company launched the high-capacity X9 combine as part of its X Series line of harvesting equipment. This combine is designed to increase productivity and efficiency while reducing operating costs, especially in challenging harvesting conditions.

Major harvesting technology market players are introducing technological solutions such as Prospr. Prospr, an autonomous, multi-use hybrid vehicle launched by Robotics Plus Limited in September 2023, is designed for sustainable orchard and vineyard production. Prospr aligns with advancements in harvesting technology, specifically in orchard and vineyard production, where the adoption of autonomous vehicles and robotics is growing to improve efficiency and productivity in harvesting and crop maintenance tasks. This innovative technology is poised to revolutionize orchards and vineyards, fostering a more sustainable and productive future while providing a powerful tool for owners seeking efficiency improvements, cost reduction, and sustainable practices.

In February 2022, Bowery Farming, a US-based vertical farming and digital agriculture company, acquired Traptic for an undisclosed amount. This strategic acquisition is expected to expedite the commercialization of Bowery Farming's produce, particularly for crops such as tomatoes, berries, and other vine fruits. The move aligns with Bowery Farming's strategy to broaden its product portfolio and reflects the broader trend of increased investment in technology for indoor farming and precision agriculture. Traptic, a US-based startup, specializes in 3D vision and robotics harvesting technology for fruiting and vine crops.

Major companies operating in the harvesting technology market report are Cymbet Corporation, Mide Technology Corporation, Powercast Corporation, Analog Devices Inc., EnOcean GmbH, Convergence Wireless LLC, ABB Ltd., Linear Technology Corporation, Fujitsu Limited, Honeywell International Inc., STMicroelectronics N.V., Yara International ASA, Koch Engineered Solutions LLC, Coromandel International Limited, Van Iperen International B.V., GlobalFoundries Inc., Advanced Cooling Technologies Inc. (ACT), THALES Group, Paragraf Ltd., Insolight SA, Aero Farm Systems Inc., McQ Inc., Ilika Technologies Ltd., Seatrec Ltd., Manufacturing Technology Centre, Enteligent Inc., ICE Thermal Harvesting, Abundant Robotics Inc., AgEagle Aerial Systems Inc., AGJunction Inc.

North America was the largest region in the harvesting technology market in 2023. 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. The countries covered in the harvesting technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of harvesting technology include light energy harvesting, vibration energy harvesting, frequency energy harvesting, thermal energy harvesting, and radio frequency energy harvesting. Light energy harvesting utilizes photovoltaic cells, commonly known as solar cells, to convert light energy into electrical energy. This electrical energy powers low-power electronic devices, including wireless sensors, smart buildings, and wearable devices, within the harvesting technology framework. Essential components involved in this process include power management integrated circuits, storage systems, transducers, sensors, and other elements designed for diverse applications such as horticulture, greenhouse management, and crop harvesting.

The harvesting technology market research report provides harvesting technology market statistics, including the harvesting technology industry global market size, regional shares, competitors with a harvesting technology market share, detailed harvesting technology market segments, market trends and opportunities, and any further data you may need to thrive in the harvesting technology industry. This harvesting technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The harvesting technology market consists of revenues earned by entities by providing services such as pruning, irrigating, and fertilizing. The market value includes the value of related goods sold by the service provider or included within the service offering. The harvesting technology market also includes sales of products such as harvesters, combines, and threshers, as well as tools such as knives, shears, and pruners. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.