Agricultural Robots Market Size – USD 10.88 Billion in 2019, Market Growth – CAGR of 36.7%, Market Trends – The high cost involved in hiring skilled labor and augmented pressure on food supply are key restraints
According to the current analysis of Reports and Data, the global Agricultural Robots Market was USD 10.88 Billion in 2019 and is projected to grow at a CAGR of 36.7% from 2019 to 2027. The burden on global food supply due to rising world population and surge in venture funding for the expansion of agriculture robots are a few of the key factors driving the growth of the agricultural robots market. The most common applications of robots in agriculture include filed mapping, aerial data collection, planting and seeding intercultural operations, fertilizing and irrigation, picking, and harvesting, while others including dairy farming activities like milking, castrating, washing and shepherding. The Food and Agriculture Organization of the United Nations (FAO) projected that the global GDP of the agriculture industry would increase from USD50 trillion in 2005-07 to USD 126 trillion in 2050. This exponential extension of the agriculture industry is the foremost reason for the hurling of the sales of agricultural robots globally.
The Asia Pacific region is anticipated to be the fastest-growing market during the forecast period, with a CAGR of 26.8%. The mounting trend of implementation of uncrewed aerial vehicles for higher productivity and increasing awareness of accurate agriculture for field mapping and crop scouting is predictable to foster the agricultural industry growth in this region. APAC agricultural robots market will benefit from growing adoption and technological developments. Manufacturers are financing in the area to develop low cost and effective drones for frequent applications in agricultural robots.
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Major vendors in the global agricultural robots products market are Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), DJI (China), Boumatic (Netherlands), Lely (Netherlands), DeLaval (Sweden), Topcon (US), and AgEagle Aerial Systems (US).
Further key findings from the report suggest
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Segments Covered in the report:
This report forecasts revenue growth at a global, regional & country level, and gives an in-depth analysis of the market trends in each of the sub-segments from 2016 to 2026. For this study, Reports and Data have segmented the agricultural robot’s market based on offerings, type, farming, farm, application, and region:
By Offerings (Revenue, USD Million; 2019-2027)
By Type (Revenue, USD Million; 2019-2027)
By Farming (Revenue, USD Million; 2019-2027)
By Farm (Revenue, USD Million; 2019-2027)
By Application (Revenue, USD Million; 2019-2027)
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Regional Outlook (Revenue, USD Million; 2019-2027)
Finally, all aspects of the Agricultural Robots market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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