Global agriculture robots market is expected to register a 21.1% CAGR over the forecast period.
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“Agriculture Robots Market: Global Demand Analysis & Opportunity Outlook 2024”
The global agriculture robots market is segmented into product type such as driverless tractors, milking robots, potato sorting system, unmanned aerial vehicles and others. Among these segments, milking robots segment is expected to witness considerable rise during the forecast period.
Rising per capita consumption and growing dairy farming are major factors which are driving the growth of this segment.
The global agriculture robots market stood at a valuation of USD 3.2 Billion in 2016.
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Further, the global agriculture robot market is anticipated to reach at revenue around USD 16.2 Billion by the end of 2024. The market is expected to expand on the back of increasing population and growing demand for food globally.
The application segment is further sub segmented into Field Farming, Soil Management, Crop Management, Grafting, Nursery Operations, Pruning, Thinning, Weeding and Others (Potting and others). Further, soil management and crop management segment are likely to grow at a remarkable pace during the forecast period.
Factors such as, smaller rural labor force and growing concern regarding farm yields are anticipated to foster the growth of these segments during the forecast period.
Food demand and production
Population growth across the globe is augmenting the demand for grains, vegetables and fruits globally. Further, farmers are looking forward to adopt sustainable farming methods and advanced technologies to increase overall farm production.
Further, growing adoption of advanced robotics in agriculture sector to assist farmers and to manage farming processes is a key factor which is projected to bolster the growth of global agriculture robot market over the forecast period.
Innovation and technological advancements
Innovation and advancements in agriculture robots has resulted in development of light weight, effective and energy efficient robots which are able to perform greater number of tasks in farming processes. Agricultural robots have wide application such as in field farming, nursery operations, pruning & thinning, weeding and others.
Further, growing application of agriculture robots is a key factor which is fostering the growth of global agriculture robots market.
Although, high initial capital investments and lack of guidance for farmers in terms of operating the agriculture robots are some of the factors that are likely to inhibit the growth of the agriculture robots market in the near future.
The report titled “Agriculture Robots Market: Global Demand Analysis & Opportunity Outlook 2024”delivers detailed overview of the global agriculture robots market in terms of market segmentation by product type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global agriculture robots market which includes company profiling of Energid Technologies Corp., Clearpath Robotics Inc., Autonomous Solutions Inc., ATI Agritronics Inc., Kinze Manufacturing, Harvest Automation, ISO Group, Helper Robotech Co. Ltd., Blue River Technology and Vision Robotics Corp.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global agriculture robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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