Agricultural Robots Market witnessed for USD 3,000 million in 2019, growing at a robust CAGR of 34.5% during forecast period. GMI Research thoroughly analyses that the Agriculture Robot Market booming unexpectedly during the forecast period as agricultural robots become a boon for farmers to enhance productivity and profitability.
Introduction of the Agriculture Robot Market
An agricultural robot is deployed for various agricultural purposes such as weed control, harvesting, planting seeds, environmental monitoring, and other ideas. Drones are one of the most prominent robotic applications and are being extensively accepted by farmers to save labor costs and time. The drones are provided with multi-spectral sensors and cameras that help to watch plant growth, crop stress and predict yields. There are various agricultural robots, like Milking robots, unmanned aerial vehicles (UAVs)/ Drones, automated harvesting systems, driverless tractors, and other robots.
Key Players of the Market
Agriculture Robot Market Dynamics
The vital decline in the number of laborers, scaling requirements for higher yield from the existing field, and the drastic growth in the population rate across the globe are the key factors fueling the global agricultural robots market. Therefore, according to the agriculture robots market report, the increasing digitalization emerges demand to enhance the existing agricultural technologies. Hence, the agricultural robots help increase the efficiency of the crop, eliminate the need for manual labor, and monitor the crops to protect them from multiple pests and diseases while intensifying the productivity of the field. In parallel, the constant requirement for modernized and sustainable farming methods to produce faster yield will further positively affect the agricultural robot market size.
The growing adoption of indoor farming practices inspired by the drastic changes in climatic conditions and the increasing demand to check crops will surge the agriculture robot market share. The strong initiative taken by the governments towards supporting the acceptance of automation in every sector is urging the manufacturers to lead product innovation. The propagation of IoT in the agriculture industry, coupled with the notable increase in labor wages, is again electrifying the market growth during the forecast period. On the other end of the spectrum, the lack of knowledge of agricultural robots among the farmers and a very high initial cost requirement are the two aspects that will restrain the market growth.
Agriculture Robot Market Segmentation
Offering Market Drivers
Based on the Offering, the services segment is expected to lead the market during the forecast period. The cost of agricultural equipment, including driverless tractors, weeding robots, and other equipment, is very high, urging the organizations to choose leasing models. The farmers use the field to test robotic equipment to check which equipment is necessary for their requirements. Therefore, various services offering such as the calculation of return on investment (ROI) and initial setup advice is rising in the market, which is responsible for fueling the demand for the services segment.
Type Market Drivers
Based on type, the UAVs/ Drones segment envisages growing at a faster CAGR over the forecast period attributed to its profitable feature and its capacity to be readily used in farms of distinct sizes. Moreover, the price of UAVs and drones is less, encouraging farmers to increasingly adopt drones to analyze the field data information, monitor their crops, and manage livestock. The extensive application of UAVs or drones is motivated by the stimulated adoption by commercial growers and farmers, which is one of the main factors surging the segment demand.
Farming Environment Market Drivers
Based on the farming environment, the outdoor segment is projected to rise at a faster CAGR during the forecast period owing to the increased adoption of drones, UAVs, and autonomous tractors implemented with GPS for outdoor farming. Moreover, outdoor farms than indoor farms increased, which is further augmenting the growth of the segment.
Farm Produce Market Drivers
Based on the Farm Produce, the field crops segment is estimated to increase at a higher CAGR over the forecast period due to the high penetration of autonomous robots and auto-steering systems across the globe. Therefore, the crop monitoring and analyzing applications are based on crops like corn and sugarcane, further burgeoning the demand of the segment.
The North America region speculates to hold the market during the forecast period due to the increasing penetration of software and automatic farm equipment across the region. The growing labor storage and increasing immigration inspection support commercial growers and farmers to prefer agricultural robots as per their specific requirements.
Agriculture Robot Market Segmentation
Market Segmentation by Offering
Market Segmentation by Type
Market Segmentation by Farming Environment
Market Segmentation by Farm Produce
Market Segmentation by Application
Market Segmentation by Region
Rest of World
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