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.
Read Report Overview: Smart Vineyard Management Market
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.
Demand – Drivers and Limitations
Following are the demand drivers for the smart vineyard management market:
- Need to Reduce Vineyard Crop Losses
- Need for Automation in Vineyards
- Growing Market for Grapes and Vineyards
The market is expected to face some limitations as well due to the following challenges:
- High Cost of Investment
- Technological Complexities due to Lack of Infrastructure
- Lack of Technically Skilled Labor Force
- With an increased worldwide demand for different varieties of grapes and products such as wine and juices, the shift to digital, smart, and data-driven products in the vineyard sector brings significant sales and financing opportunities. The shift is more prominent in guidance technology and sensing technology segments in regions such as Europe and North America.
- Furthermore, smart vineyard management systems have a moderate to high impact on crop scouting systems to reduce crop losses due to crop diseases and pest infestations.
Impact of COVID-19
The COVID-19 pandemic has had a significant impact on almost all major industries throughout the world, including the agricultural industry. Globally nations had lockdowns imposed because of which the supply chain also got disrupted, resulting in a shortage of equipment and other inputs required for vineyards. This has brought the companies’ attention to the use of remote sensing and other vineyard management tools, which can lead to a boost in the adoption of smart vineyard management. Among the vineyard managers and winemakers, the adoption of smart vineyard management is expected to increase due to developed Information Technology (IT) infrastructure and networks as well as improved farm mechanization. Thus, COVID-19 has positively impacted the smart vineyard management market in the long run due to disrupted supply chains and labor shortages.
According to Rakhi Tanwar, Principal Analyst, BIS Research, “The smart vineyard management market is expected to be a great replacement of conventional vineyard management equipment and solutions. Owing to the increasing adoption of digital vineyard management solutions in developed countries and the lack of skilled labor, the smart vineyard management market is expected to show significant growth in the near future. Through a better adoption of these technology-based products and services, the consumers' demand for quality grapes and their products and less wastage of resources can be met.”
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Recent Developments in the Global Smart Vineyard Management Market
- In March 2022, AGRIVI partnered with Eviit GmbH to bring digital agriculture solutions for various applications, including vineyard management, to Germany.
- In January 2022, YANMAR HOLDINGS CO., Ltd. unveiled the YV01 autonomous spraying robot for use in vineyards. The YV01's electrostatic spraying mechanism is flexible, lightweight, and environmentally friendly, which ensures extremely accurate spraying on vines.
- In December 2021, Deep Planet set up its Australian headquarters in Adelaide, South Australia, to get into the Australian wine tech market.
- In October 2020, Elmibit d.o.o. announced the exploration of new market opportunities as a part of the support received from the INNOWWIDE open call.