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Autonomous Harvester Market Size
- Report ID: GMI10476
- Published Date: Jul 2024
- Report Format: PDF
Autonomous Harvester Market Size
Autonomous Harvester Market was valued at USD 1.5 billion in 2023 and is anticipated to grow at a CAGR of 12% between 2024 and 2032. The growth of the market can be attributed to the significant shortage of skilled labor in the agricultural sector.
The growth in shortage of labor in the agriculture industry owing to the aging farming populations and the reluctance of younger generations to engage in manual agricultural work has fueled the demand for advanced agricultural equipment. According to the American Farm Bureau Federation estimates, there are around 2.5 million farm jobs that are needed to be filled in the U.S. annually. Autonomous harvesters help address this labor gap by ensuring timely and efficient harvesting, lowering the dependence on human labor.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Autonomous Harvester Market Size in 2023: | USD 1.5 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 12% |
| 2032 Value Projection: | USD 4.1 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 157 |
| Tables, Charts & Figures: | 255 |
| Segments covered: | Product, Level of Automation, Technology, and Crop Type |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Moreover, with the increasing global population, demand for food and agricultural products has grown in the last few years. According to the United Nations, the global human population reached 8.0 billion in mid-November 2022 from an estimated 2.5 billion in 1950. This increase in global population has placed high pressure on the agricultural sector to operate efficiently and produce more food. Autonomous harvesters enable farms to increase operations easily and work continuously without breaks. Additionally, these machines can handle larger fields and more crop varieties, leading to increased overall output. This is expected to drive the growth of the autonomous harvester market during the forecast period.
The upfront investment required to purchase and implement autonomous harvesters is high. Small and medium-sized farms having low budgets make it difficult for them to afford these advanced systems. The high costs include the purchase price of the machinery and expenses related to installation, setup, and integration with existing farm operations. Moreover, autonomous harvesters depend on advanced technologies such as AI, machine learning, sensors, and GPS, which need specialized knowledge to operate and maintain. This is further expected to hinder the growth of the market.
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Autonomous Harvester Market Scope
