Agricultural Robots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global agricultural robots market reached a value of US$ 4.1 Billion in 2018. Agricultural robots, also known as agribots, are one of the latest innovations in the agriculture industry. They are autonomous machines utilized for improving quality and efficiency of yield, minimizing reliance on manual labor, and increasing the overall productivity. Agricultural robots are usually equipped with end effectors or specialized arms for performing a wide range of horticultural activities such as weed control, seeding and planting, aerial data collection, filed mapping, fertilizing and irrigation, intercultural operations, harvesting, soil analysis, and environmental monitoring. Apart from this, these robots are also employed for washing and milking livestock in the dairy farming industry.
Global Agricultural Robots Market Drivers:
With growing population, the demand for food is rising at a rapid pace worldwide. As a result, farmers are now shifting towards modern tools and equipment, such as agricultural robots, to increase their total productivity and generating more revenue. Further, governments around the world are offering subsidies and undertaking initiatives to propagate awareness about automated technologies among farmers. For instance, the European Union has funded projects, such as GRAPE and MARS, to replace labor-intensive tasks with advanced automated technologies. Moreover, several established and start-up agricultural companies are investing in research and development activities to introduce an innovative range of agricultural robots. On account of these factors, the market is projected to reach a value of US$ 10.1 Billion by 2024, growing at a CAGR of around 16% during 2019-2024.
Breakup by Product Type:
Unmanned Aerial Vehicles (UAVs)/Drones
Automated Harvesting Systems
Breakup by Application:
Dairy Farm Management
Breakup by Offering:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Deere & Company, Trimble Inc., Agco Corporation, Lely Holding S.À.R.L, AG Eagle LLC, Agribotix LLC, Agrobot, Harvest Automation, Naio Technologies, Precision Hawk, IBM, Agjunction, Inc., DJI, Boumatic Robotics, B.V., AG Leader Technology, Topcon Positioning Systems, Inc., Autocopter Corp, Auroras S.R.L., Grownetics Inc. and Autonomous Tractor Corporation.
Key Questions Answered in This Report:
How has the global agricultural robots market performed so far and how will it perform in the coming years?
What are the key regional markets in the global agricultural robots industry?
What is the breakup of the global agricultural robots market on the basis of product type?
What is the breakup of the global agricultural robots market on the basis of application?
What is the breakup of the global agricultural robots market on the basis of offering?
What are the various stages in the value chain of the global agricultural robots market?
What are the key driving factors and challenges in the global agricultural robots market?
What is the structure of the global agricultural robots market and who are the key players?
What is the degree of competition in the global agricultural robots market?
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