Dublin, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The "Smart Vineyard Management Market - A Global and Regional Analysis: Focus on Product, Application, Supply Chain Analysis, and Country Analysis - Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The smart vineyard management market was valued at $1.21 billion in 2021 and is projected to reach $2.15 billion by 2027, growing at a CAGR of 10.08% during the forecast period 2022-2027. Owing to the growing market for grapes and vineyards, the growth in the Smart Vineyard Management Market is expected to be driven by the increasing need for digital and smart vineyard monitoring and management systems and solutions.
Market Lifecycle Stage
The smart vineyard management market is still in a nascent phase. Increased corporate investments and research and development activities are underway to develop smart vineyard management technologies and products, which are expected to increase due to the growing need to reduce vineyard losses and automation in the vineyard industry.
New entrants are penetrating the market backed up by government funding and corporate investments, which is one of the major opportunities in the global smart vineyard management market. Moreover, smart vineyard management technologies also help in enhancing yield quality due to timely detection of pest infestation and diseases. Smart vineyard management technologies also facilitate the safe and quality harvesting and picking of tender grapes through the use of autonomous robots.
Market Segmentation
Segmentation 1: by Application
- Yield Monitoring
- Crop Scouting
- Harvesting
- Irrigation Management
- Others
The Smart Vineyard Management Market by application segment is expected to be dominated by yield monitoring technologies. The growing trend for advanced technologies being used for yield estimation and mapping to facilitate informed harvesting and picking decisions is driving the yield monitoring technologies in the application segment of the smart vineyard management market.
Segmentation 2: by Solution
- Hardware
- Software
- Services
The hardware segment dominates the global smart vineyard management market. Hardware such as robots and drones, sensors, and others, including handheld computers and display screens, among others, work with increased speed and accuracy to improve the efficiency of data collection and operations.
Segmentation 3: by Technology
- Guidance
- Sensing
- Variable Rate Technology (VRT)
- Others
Due to the growing trend of digital and smart agricultural practices, the traction for sensing technologies has been growing globally.
Segmentation 4: by Region
- North America - U.S., Canada, Mexico, Rest-of-North America
- South America - Argentina, Brazil, Chile, and Rest-of-South America
- Middle East and Africa - Turkey, South Africa, and Rest-of-Middle East and Africa
- Europe - Italy, Spain, France, and Rest-of-Europe
- U.K.
- China
- Asia-Pacific - Japan, India, Australia, and Rest-of-Asia-Pacific
Europe generated the highest revenue of $528.8 million in 2021, which is attributed to the large-scale adoption of advanced technologies and an increasing number of smart vineyard management startups backed by government, institutional, and corporate funding in the region. Europe is an attractive region for the smart vineyard management market because of the availability of a large number of family-owned and wine manufacturers' vineyards.
Demand - Drivers and Limitations
Drivers:
- Need to Reduce Vineyard Crop Losses
- Need for Automation in Vineyards
- Growing Market for Grapes and Vineyards
Limitations:
- High Cost of Investment
- Technological Complexities due to Lack of Infrastructure
- Lack of Technically Skilled Labor Force
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The top segment players leading the market include hardware, which captures around 43% of the presence in the market. Players in other solutions, such as software and services, together accounted for approximately 57% of the presence in the market as of 2021.
Some prominent names established in this market are:
Company Type 1: Hardware
- Fruition Sciences
- Robotnik
- TeeJet Technologies
- Trimble Inc.
- YANMAR HOLDINGS CO., LTD.
Company Type 2: Software
- Elmibit d.o.o.
- ISAGRI
- PrecisionHawk, Inc.
- SureHarvest Services, LLC
- TerraNIS
- TracMap Limited
Company Type 3: Services
- AGRIVI
- AHA Viticulture
- Grow Data
- Vineview
Company Type 4: Startup Company Profiles
- Naio Technologies
- Pollen Systems Corporation
- Terraview Pte. Ltd.
- Vidacycle
- Vinelytics LLC
Key Topics Covered:
1 Markets
2 Application
3 Products
4 Regions
5 Markets - Competitive Benchmarking & Company Profiles
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/vvc427
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