Precision Harvesting Market Size Worth $22.9 Billion By 2027 | CAGR: 8.6%: Grand View Research, Inc.

Read 250 page research report with ToC on "Precision Harvesting Market Size, Share & Trends Analysis Report By Application, By Product (Combine Harvesters, Harvesting Robots), By Offering (Hardware, Software), By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/precision-harvesting-market

Increasing adoption of autonomous combine harvesters and harvesting robots, increasing mechanization of farms in developing economies, and increased labor cost due to shortfall of skilled labor are some of the key factors driving the market growth. Major manufacturers of agriculture equipment are adopting telematics services to improve farm efficiency, thereby reducing the cost of agricultural operations, maximizing profitability, and reducing environmental impact due to improved management.

Increasing global food demand, minimizing crop wastage during harvesting processes, and extended crop yield and profitability are also driving the market. Government initiatives in various countries are encouraging farmers to adopt advanced technological and agricultural tools and machinery to improve crop yield. However, low rate of technology adoption, lack of skills, and lack of technical awareness among farmers due to absence of stringent standards and limitations on the exchange of data, are likely to hamper the precision harvesting market growth over the forecast period.

Furthermore, high initial capital investment and lack of independent consulting and advisory services due to absence of validated agronomic models to make investment decisions are impeding the market growth. In addition, independent services are not linked to co-operatives, government bodies, and farmer's associations where farmers can get additional information to make improved decisions. 

Grand View Research has segmented the global precision harvesting market based on product, application, offering, and region:

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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