Rising population along with shortage of food worldwide and pressure on farmers to produce more grains in limited time are the major factor supporting the growth of the agriculture robots market. Moreover, lack of availability of skilled labors and high cost of labors are also expected to fuel the growth of the market.
Global Agriculture Robots Market Report, published by Variant Market Research, forecast that the global market was valued at $968 million in 2016 and expected to reach $5,214 million; growing at a CAGR of 23.4% from 2016 to 2024. In geographical segments, Asia Pacific and Rest of the World (RoW) anticipated to grow at a fastest CAGR of 24.7% and 24.1%, respectively, over the forecast period 2016 – 2024.
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Global agriculture robots market is majorly driven by increasing population along with food shortage worldwide and pressure on farmers to produce more grains in limited time .Moreover, lack of availability of skilled labors and high cost of labors are also expected to fuel the growth of the market. Though, high cost of robots and high maintenance cost may hamper the market growth.Robots with new applications and untapped markets would provide several opportunities for the market during the forecast period 2016 - 2024.
The global agriculture robots market has been categorized into type, application, and geography. The type segment contains UAV, driverless tractor, milking robots, machines, and others.
In type segment, driverless tractor and machines accounted for the market share of 32.4% and 26.5% respectively, in 2016, owing to a number of benefits of driverless tractor and machines like precision in work and minimization of the labor cost. Furthermore, application segment contains field farming, dairy management, indoor farming, horticulture, and others.
In application segment, field farming and horticulture accounted for the market share of 37.3% and 23.4%, respectively in the year 2016.
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North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. Asia-Pacific is the highest growing region in the global agriculture robots market, and is projected to maintain this trend during forecast period, owning to rise in population and high penetration of robots for high yield and to lessen human interference.
North America market accounted for the largest share of 26.8% in the year of 2016, due to improved implementation of agriculture robots in United States.
The key market players in agriculture robots market have used different strategies to raise their market share and global presence such as acquisition, contract and agreement to sustain in the competition. For instance, in January 2017, company such as Agribotix partners with senseFly to offer their agriculture clients with a professional grade, end-to-end drone and data processing solutions.
The major key players operating in the global agriculture robots market are AGCO Corporation, Harvest Automation, Inc., Deere & Company, AutoProbe Technologies LLC, Agribotix LLC., Naio Technology, GEA Group, KC Drone Co., MafRodaAgrobotics and BouMatic Robotics BV, among others.
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Scope of Agriculture Robots Market
- Driverless Tractor
- Milking Robots
- Dairy Management
- Indoor Farming
- Field Farming
- North America
- United Kingdom
- South America
- Middle East
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