The new report by Expert Market Research titled, ‘Global, Size, Share, Scope, Analysis, Report and Forecast 2023-2028’, gives in-depth analysis of the global agricultural robot’s market, assessing the market based on its segments like product type, application, offering and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028): –
- Historical Market Size (2020): USD 4.6 Billion
- Forecast CAGR (2023-2028): 15.8%
- Forecast Market Size (2026): USD 11.6 Billion
Farmers are increasingly using precision agriculture to capture and process data, which lets them make informed decisions about fertilising, planting, and harvesting crops.
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The technique has enormous potential for increasing crop yields and income, as well as resolving food and water shortages. Over the forecast period, the industry demand is expected to be driven by an increase in the need to track crop health for yield production and an increase in government funding for the implementation of modern agricultural techniques.
Agricultural Robots Industry Definition and Major Segments
Agriculture robots are self-contained devices that are used to boost production and yield, minimise reliance on manual labour, and boost overall productivity. Weed control, seeding and seeds, aerial data collection, mapping fields, fertilisation and irrigation, cross-cultural operations, processing, soil analysis, and environmental monitoring are all activities that agricultural robots are equipped with end effectors or specialist arms for. Furthermore, these robots are used to wash and milk livestock in the dairy farming industry.
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Based on the product type, the industry can be divided into:
- Unmanned Aerial Vehicles (UAVs)/Drones
- Milking Robots
- Driverless Tractors
It finds wide application in the following:
- Field Farming
- Dairy Farm Management
- Animal Management
- Soil Management
- Crop Management
On the basis of offering, the industry can be divided into:
Based on region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Agricultural Robots Market Trends
Agricultural Robots Around the World During the forecast period, the market size is projected to rise at a significant pace. The market’s growth is being fueled by an emphasis on increased productivity and farm production, automation leading to reduced labour usage, better use of natural resources, population growth, continuous technological advancement, a decrease in the supply of labour, and a less time-consuming nature.
The high cost of recruiting skilled workers, as well as increased pressure on food supply, have all contributed to the rise of agricultural robots. Government authorities are expected to promote the agricultural robots industry in the future. Because of the higher presence of Agricultural Robots vendors in this area, North America is leading the global market for Agricultural Robots.
Because of the presence of manufacturers, retailers, and other businesses in this area, the agricultural robots market in Western Europe and Eastern Europe is growing faster than in North America. Due to the existence of more agricultural land, developing regions such as APEJ and Japan are expected to expand at the fastest CAGR, and governments in countries such as India and China are focusing more on growing food production due to rising population.
Key Market Players
The major players in the market are Trimble Inc., Agco Corporation, Lely Holding S.À.R.L, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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