In terms of revenue, global agricultural robots market in 2018 stood at USD 6,207.78 million and is expected to reach USD 23,261.54 million by 2026 growing at a CAGR of 20.77% from 2019 to 2026.
Some of the global major players operating in the agricultural robots market include: Topcon Positioning Systems, Inc., Deere & Company, Trimble Inc., Agco Corporation, AgJunction, DJI Technology Co., Ltd., BouMatic, LLC and Others.
Drivers for the Global Agricultural Robots Market:
The rising focus on the increased productivity & farm efficiency, automation leading to minimized use of labor, efficient use of natural resources, Rise in population, constant innovation in technology increased labor cost due to the shortage of skilled workers and less time-consuming nature are the drivers for the growth of this market. The high cost of hiring skilled labor and increased pressure for food supply are also factors leading to the emergence of agricultural robots.
Opportunities for the Global Agricultural Robots Market:
High requirement for modernized & sustainable farming processes to produce faster yields will provide an opportunity for the growth of this market segment in the forecast period. While adoption of telematics sensors will create a potential opportunity for the growth of this market segment. Besides this, increasing population, increasing demand of the food supply, frequent climate variations along with automation will lead to the growth of this market at forecast period.
Restrains for the Global Agricultural Robots Market:
It requires High capital investments due to the high cost of these robots which is hampering the growth of this market segment. While the farmers of developing countries are not aware of this, thus they are using traditional methods in farming. Lack of awareness and technical knowledge is creating a negative impact on the growth of this market. Irregular mobile and internet connectivity in remote areas can hamper the growth of the agricultural robot market.
Region Wise, Global Agricultural Robots Market Analysis:
Region wise, global agricultural robots market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global agricultural robots market share which is followed by the North America and Europe.
While the Asia Pacific leads the global agricultural robots market share because of the increased farm mechanization in developing countries, Rise in adoption of harvesting robots and autonomous combine harvesters, and increased labor cost due to the shortage of skilled workers are propelling this market segment in developing countries such as china & India of Asia - pacific regions.
Global Agricultural Robots Market: Product analysis
- Unmanned Aerial Vehicles (UAVs)/Drones
- Milking Robots
- Driverless Tractors
- Automated Harvesting Systems
Global Agricultural Robots Market: Application analysis
- Field Farming
- Dairy Farm Management and Animal Management
- Soil Management
- Crop Management
Global Agricultural Robots Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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