By 2022, it is anticipated that the global market for agricultural robots would be valued $5,994.27 million. By 2032, the global market for agricultural robots is expected to produce sales of $30,500.51 million at a CAGR of 17.7%.
The costs associated with automation are decreasing as IoT and navigation technologies are developed, which is due to the expanding population and labour shortages. Rapidly developing technologies are predicted to have a big impact on a variety of businesses.
Food demand among consumers is rising in tandem with global population growth. To increase agricultural productivity, the agriculture sector is currently gradually adopting technology solutions.
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Agriculture Robotics Market: Drivers and Restraints
Replacing farmers’ efforts with smart robots is the major driver propelling the growth of the market. Also, the population all across the world is increasing, which is fuelling the demand for more crop production, thus piloting the growth of the agriculture robotics market during the forecast period.
The government of emerging nation such as India and China is focussing on launching smart farmer project, which is anticipated to create huge industry expansion opportunity in the nearer future. Further, the demand for driverless tractors and the increasing application of robots for indoor farming, dairy management, and horticulture are the other factors responsible for the growth of the agriculture robotics market.
High initial investment and skilled staff for accessing the robot are the two factors coupled together to challenge the growth of the agriculture robotics market in recent years. Apart from this, government subsidies and farmer development training programs may assist in overcoming the above mention challenge.
Market Competition
- Tractor LLC,
- Blue River Technology Inc.,
- AutoProbe Technologies LLC,
- BouMatic Robots BV,
- Deere & Company,
- Harvest Automation Inc.,
- Precision Hawk,
- Yamaha Motor Corporation, and
- GoPro, Inc.
are among the key players in the agricultural robot market.
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Global Agriculture Robotics Market: Regional Trend
North America is expected to witness the largest market growth regarding revenue, owing to the increasing penetration of modern agriculture equipment. Further countries such as Canada and U.S. are anticipated to exhibit positive market growth, due to increasing inclination adoption of the automation process.
Asia-Pacific countries such as China, and India are estimated to capture the fastest market growth, owing to supportive government regulation to encourage smart agriculture projects in the respective region, which is expected to spur the demand for agriculture robotics in forthcoming years.
Key Segments Covered in the Agricultural Robots Industry Survey
Agricultural Robots Market by Product Type:
- Agricultural UAV
- Driverless Agricultural Tractors
- Agricultural Milking Robots
- Automated Agricultural Harvesting Machine
Agricultural Robots Market by Application:
- Agricultural Robots for Field Farming
- Agricultural Robots for Dairy Management
- Agricultural Robots for Indoor Farming
- Agricultural Robots for Horticulture
Agricultural Robots Market by Offering:
- Agricultural Robot Hardware- Automated & Controlled System
- Agricultural Robot Sensor & Monitoring Device
- Agricultural Robot Software Service
Agricultural Robots Market by Region:
- North America Agricultural Robots Market
- Europe Agricultural Robots Market
- Asia Pacific Excluding Agricultural Robots Market
- Middle East & Africa Agricultural Robots Market
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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