According to this study, the agricultural robot market will register a 20.9% CAGR in terms of revenue; the market size will reach USD 8.68 billion by 2028, from USD 2.30 billion in 2021.
Market Overview
Agricultural robots are specialized technology deployed for agricultural purposes in a wide range of operations. The main area of application of agricultural robots is at the harvesting stage in agriculture. The emerging application of robots is analyzing, weed control, contemplation, cloud seeding, planting seeds, environmental monitoring, harvesting, and carrying out a multitude of functions, and they can be programmed to grow and evolve to match the needs of various tasks. The primary role of agricultural robots is to tackle labor-intensive, repetitive, and physically demanding tasks. Agricultural robots such as Ecorobotix, Energid citrus picking system, and Agrobot E-series, this help to improve overall productivity in various ways for a farmer.
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Market Dynamics and Factors
Numerous applications of agriculture robots such as harvesting, picking, weed control, autonomous mowing, pruning, seeding, spraying and thinning, phenotyping, sorting and packing, and utility platforms that are helped to increase the demand for agriculture robots. In addition to this increasing global population that generates the need for higher productivity but there is a shortage of labor that leads to the increasing demand for agricultural robots. Increasing adoption of modern tools and equipment to increase total productivity and generate more revenue, governments around the world offering subsidies to growing awareness about the automated technologies among the farmer, these factors also help to increase the agricultural robot’s market.
Agricultural Robots Market Report Highlight
By offering, the Hardware segment is expected to have the maximum market share in the agricultural robot market during the forecast period. The hardware component includes automation, sensing, and monitoring devices. Increasing production of cost-effective IoT-based technologies, driverless tractors, and agricultural drones helps to increase the market for agricultural robots in the forecast period.
By type, unmanned aerial vehicles (UAVs)/drones are expected to dominate the agricultural robots market share during the forecast period. These are the cost-effective unpiloted flying robots; simplified crop spraying for farmers and covering the large land in a very short time that increase the demand for drones/ Uavs which leads to an increase in the market in the forecasted period.
By farm produce, Field crops anticipated high growth in the agricultural robot market during the forecast period. Drones, unmanned aerial vehicles, and driverless tractors are used for the production of field crops. These robots are reducing the operation time and are cost-effective, thus increasing demand for such robots leads to indirectly rising the demand for the segment
By application, the Dairy & livestock management segment is expected to have the maximum market share in the agricultural robot market during the forecast period. Rising demand for milk & milk products and increasing awareness about hygiene in the dairy industry and livestock management leads to the increasing demand for robots in this sector which leads to an increasing market for agricultural robots.
By the farming environment, the Outdoor segment is expected to dominate the agricultural robots market share during the forecast period. Increasing the number of outdoor farms as compared to indoor farms. For outdoor firms increase the adoption of agricultural robots which leads to an increase in the market.
By region, North America is anticipated to grab the maximum market share of the agricultural robot market over the projected period. High shortage of labor, and high labor cost tends to the increasing demand for robots for growing productivity and maintaining the quality standard which propels the growth of the market.
Segmentation of Agricultural Robots Market:
By Offering
By Type
By Farm Produce
By Application
By Farming Environment
Reasons to Purchase this Market Report:
Market forecast analysis through recent trends and SWOT analysis
Agricultural Robots Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
Agricultural Robots Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
Competitive environment related to the Agricultural Robots Market share for key players, along with new projects and strategies that players have adopted over the past five years
Market Segment by Regions and Countries Level Analysis:
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Jan 05, 2024