Sri Lanka Smart Harvest Market: Industry Overview (2023-2029) by Component, Site of Operation, Crop Type, and Region

Sri Lanka Smart Harvest Market Overview:

Sri Lanka Smart Harvesting technologies help farmers to improve their agriculture revenue. Soil, livestock, and plant geographic information, as well as inter- and intra-field information, are used to prevent crops from adverse environmental effects. Smart Harvest modern technologies also assist in the accurate application of irrigation water, liquid fertilizers, nutrients, herbicides, and pesticides on fields, which reduce resource waste. Farmers can benefit from the implementation of modern solutions such as IoT for weather forecasting and crop harvesting. The Internet of Things in harvesting assists in accurately assessing real-time weather conditions like rainfall, humidity, and temperature. Smart agriculture is significant to the use of smart harvesting technologies.

The report examines the market's growth drivers as well as its segments (Component, Site of Operation, Crop Type, and Region). Data has been provided by market participants. This market study takes an in-depth look at all of the significant advancements that are currently occurring across all industry sectors. To provide key data analysis for the historical period (2017-2020), statistics, infographics, and presentations are used. The report examines the Sri Lanka Smart Harvest market's, Restraints, Opportunities, and Challenges. This SMR report includes investor recommendations based on a detailed analysis of the current competitive landscape of the Sri Lanka Smart Harvest market.

Sri Lanka Smart Harvest Market Dynamics:

Technological Advancement in the Agriculture field is a key driver for the growth of the Smart Harvest market in this region.

Agriculture in Sri Lanka has experienced technological development in recent decades which has made farming more convenient, efficient, and profitable. Leveraging technological innovations in Sri Lanka Smart Harvesting can help farmers to overcome growth constraints and increase agriculture’s economic contribution. Using data and information communication technology, Sri Lanka's agriculture sector is moving toward improved coordination and information exchange. GeoGoviya is the country's first cloud-based platform across numerous departments and ministries. The GeoGoviya mobile application has improved the Sri Lankan government's system capabilities to measure, monitor, and report farm-level data.

Government and private sector involvement in R&D to improve the use of modern technologies in the Agriculture

Sri Lanka is still a developing country and more research and development (R&D) are being carried out to increase the country's use of modern technologies. Collaboration with larger foreign institutions, as well as local universities has improved both the government and private sector's engagement in R&D. Poor farmers in the region may not be able to use this advanced technology. As a result, the government is taking initiatives based on the needs of farmers, such as public-private producer partnership (4P) systems with different management and incentive schemes, shared platforms, financing schemes, and subsidized services to achieve technological transformation. These reasons are expected to drive the smart harvest market during the forecast period.

Local partnerships with Dialog ( telecommunication company) to drive affordable smart harvesting

Dialog Axiata PLC is Sri Lanka's leading telecommunications company. Dialog Axiata PLC (Dialog) is now actively looking at developing automation tools for the agricultural sector by the introduction of its Internet of Things (IoT) platform. Dialog has extensive experience in designing, launching, and scaling digital agriculture services. Dialog began its journey into smart farming to develop low-cost IoT-enabled sensors and actuators for protected farms that allow farmers to automate, monitor, and manage agricultural activities via a smartphone app. These technologies have reduced the workload of farmers. Therefore, the farmers are going towards the adoption of smart harvest technologies which is expected to fuel the market growth over the forecast period.

Smart Farming's Challenges in Sri Lanka

The possible negative effects of environmental variations and risks on crop yields such as changing weather patterns or pest attacks are well known. Progressive farmers typically use Protected cultivation for high-value, fast-moving crops such as particular species of mushrooms and vegetables to mitigate the risks. In the lack of automated solutions, progressive farmers in Sri Lanka producing crops in protected enclosures are forced to manage the atmosphere with manually powered exhaust fans, misters, foggers, and drip irrigation lines. As compared to automated smart farming options, manual processes result in inaccurate measurements and production gains. However, due to excessively high prices, limited after-sales support, and a lack of supporting systems relevant to particular weather and environmental parameters had a production impact on Sri Lanka’s Agriculture sector.

Restraint for the Smart Harvest Market

However, obstacles such as a lack of mobile phone connectivity, as well as poor usability and awareness of ICT applications, have hampered the acceptance and implementation of mobile phone-based agricultural smart harvesting services.

Sri Lanka Smart Harvest Market Segment Analysis:

The Sri Lanka Smart Harvest Market is segmented by Component, Site of Operation, and Crop Type.

Based on the Component, the hardware segment is estimated to have the greatest market share of xx percent by 2027. Harvesting robotics, automation systems, sensors, and imaging systems are among the hardware components used in the smart harvest market. Each of the three hardware components is designed to cooperate in order to move, identify, and harvest the fruit or vegetable. During the forecast period, AI (Artificial Intelligence) integration with smart harvest systems is expected to allow robots to make decisions based on the right criteria.

Based on the Crop Type, the fruit segment is expected to grow fast at a CAGR of xx percent during the forecast period. Manufacturers are attempting to develop various harvesting robot technologies for commercial deployment over the forecast period. Apples, strawberries, and citrus fruits are among the fruits that can be harvested using the current generation of smart harvesting systems (lemons and oranges). Smart harvesting systems bring up new possibilities for merging yield monitoring sensors and ripening controls across a variety of fruits.

The purpose of this research is to provide stakeholders in the industry with a thorough insight into the Sri Lanka Smart Harvest market. The study includes an analysis of difficult data in simple language, as well as the industry's historical and current state, as well as anticipated market size and trends. The market report examines all segments of the industry, with a focus on significant players such as market leaders, followers, and new entrants. The report includes a PORTER, PESTEL analysis as well as the possible influence of microeconomic market determinants. External and internal elements that are expected to have a favorable or negative impact on the market have been examined, providing decision-makers with a clear future vision of the industry. The research also aids in comprehending the Sri Lanka Smart Harvest market dynamics and structure by studying market segments and forecasting market size. The research is an investor's guide since it depicts the competitive analysis of major competitors in the Sri Lanka Smart Harvest market by product, price, financial situation, product portfolio, growth plans, and geographical presence.

Sri Lanka Smart Harvest Market Scope:

Sri Lanka Smart Harvest Market Players

• Hayleys Agriculture
• SenzAgro
• Agrithmics
• Vega Innovations
• GREENEXT
• AiGROW
• Eaksha
• ELZIAN AGRO