The growth of this market can be attributed to the increasing population worldwide coupled with the rising demand for food in developing countries. The farmers are trying to enhance agricultural productivity in order to meet the growing demand for food by incorporating agricultural robots in agricultural practices. Increasing adoption of crop management devices to monitor crop growth and protect the field from any infestations is expected to drive the market’s growth over the forecast period. The declining agricultural workforce in several countries due to the aging of farmers and lack of skilled labor has resulted in the increasing adoption of agricultural robots over the forecast period. Increasing labor costs due to the shortage of labor is another contributing factor to the market’s growth.
North America accounted for the largest market share in 2019 due to the increasing government initiatives regarding the adoption of agricultural drones in the agricultural sector to facilitate smart farming.
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Key Highlights From The Report
In November 2019, DeLaval launched the latest addition to its robotic milking system offering – DeLaval VMS™ V310. The VMS™ V310 comes with the new DeLaval Re Pro™ that detects pregnancy and heat automatically during the milking process.
The hardware segment held the largest market share of 48.3% in the year 2019. Increasing adoption of cost-effective IoT-enabled devices and sensors in the agriculture sector is expected to drive the hardware segment’s growth.
The driverless tractors are forecasted to grow with the fastest CAGR of 35.4% over the forecast period due to the declining agricultural workforce and the increasing investments for the development and production of the driverless tractors by the major market players.
Dairy management accounted for the largest market share in 2019 due to the increasing adoption of milking robots in order to meet the growing demand for dairy products.
Key participants include Agco Corporation, Deere and Company, GEA Group, Trimble Inc., Agjunction, Lely, DJI, Delaval, AgEagle Aerial Systems, and Topcon Positioning Group, among others.
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Knowing the trends influencing the industry performance
Stakeholders, marketing executives and business owners planning to refer a market research report can use this study to design their offerings and understand how competitors attract their potential customers and manage their supply and distribution channels. When tracking the trends researchers have made a conscious effort to analyze and interpret the consumer behaviour. Besides, the research helps product owners to understand the changes in culture, target market as well as brands so they can draw the attention of the potential customers more effectively.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
Offering Outlook (Revenue, USD Billion; 2017-2027)
Software
Hardware
Services
Type Outlook (Revenue, USD Billion; 2017-2027)
Driverless Tractors
Unmanned Aerial Vehicles (UAVs)
Automated Harvesting Systems
Milking robots
Application Outlook (Revenue, USD Billion; 2017-2027)
Dairy management
Soil management
Field farming
Animal management
Crop management
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