Agricultural Robots Market Size Expected to Reach USD 17.15 Billion at CAGR of 36.7%, by 2027: Reports and Data
September 15, 2021
Reports And Data
Agricultural Robots Market USD 10.88 Bn in 2019 CAGR of 36.7% High cost involved in hiring skilled labor & augmented pressure on food supply are key restraintsNEW YORK, NY, UNITED STATES, September 15, 2021 /EINPresswire.com/ -- The major driving factors in Market focus on increased productivity and farm efficiency, automation leading to curtailed use of labor and well-organized usage of natural resources, population growth, continuous innovation in technology,
According to the current analysis of Reports and Data, the global Agricultural Robots Market was USD 10.88 Billion in 2019 and is projected to grow at a CAGR of 36.7% from 2019 to 2027. The burden on global food supply due to rising world population and surge in venture funding for the expansion of agriculture robots are a few of the key factors driving the growth of the agricultural robots market. The most common applications of robots in agriculture include filed mapping, aerial data collection, planting and seeding intercultural operations, fertilizing and irrigation, picking, and harvesting, while others including dairy farming activities like milking, castrating, washing and shepherding. The Food and Agriculture Organization of the United Nations (FAO) projected that the global GDP of the agriculture industry would increase from USD50 trillion in 2005-07 to USD 126 trillion in 2050. This exponential extension of the agriculture industry is the foremost reason for the hurling of the sales of agricultural robots globally.
The Asia Pacific region is anticipated to be the fastest-growing market during the forecast period, with a CAGR of 26.8%. The mounting trend of implementation of uncrewed aerial vehicles for higher productivity and increasing awareness of accurate agriculture for field mapping and crop scouting is predictable to foster the agricultural industry growth in this region. APAC agricultural robots market will benefit from growing adoption and technological developments. Manufacturers are financing in the area to develop low cost and effective drones for frequent applications in agricultural robots.
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Major vendors in the global agricultural robots products market are Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), DJI (China), Boumatic (Netherlands), Lely (Netherlands), DeLaval (Sweden), Topcon (US), and AgEagle Aerial Systems (US).
Further key findings from the report suggest
• By type, the milking robot segment of agricultural robots is projected to grow at the fastest CAGR of about 20.2% during the analysis periods. The momentous rise in herd sizes and the launching of innovative and advanced automation technologies are also urging the demand for milking robots systems in the industry. The technology facilitates the automation of varied dairy functions such as milking operations, herd management, and dairy farm management. It also enables milk production, owing to increased efficiency and frequency of the process.
• The hardware segment of agricultural robots is expected to dominate the agricultural robots market from 2019 to 2027. Snowballing affordability of auto-steering systems and refining GPS accuracy have aided tractors and other agricultural ground vehicles to operate autonomously.
• By offerings, the services segment of agricultural robots is anticipated to grow at a CAGR of 19.4% during the analysis period. The steep costs of agricultural equipment such as fruit reapers, driverless tractors, and pick over robots have encouraged companies to adopt new models of robots to empower farmers to field test the diverse robotic equipment to decide whether they satisfy their requirements.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/agricultural-robots-market
Segments Covered in the report:
This report forecasts revenue growth at a global, regional & country level, and gives an in-depth analysis of the market trends in each of the sub-segments from 2016 to 2026. For this study, Reports and Data have segmented the agricultural robot’s market based on offerings, type, farming, farm, application, and region:
By Offerings (Revenue, USD Million; 2019-2027)
• Hardware (Automation & Control Systems and Sensing & Monitoring Devices)
• Software (Local/Web-based and Cloud-based)
• Services (System Integration & Consulting Services, Managed Services, Connectivity Services, Assisted Professional Services, and Maintenance & Support Services)
By Type (Revenue, USD Million; 2019-2027)
• Unmanned Aerial Vehicles (UAVs) (Fixed Wing, Rotary Blade, and Hybrid)
• Milking Robots
• Driverless Tractors
• Automated Harvesting Systems
• Other Robots (Robots for Nurseries, Sorting and Packing, and Weed Control)
By Farming (Revenue, USD Million; 2019-2027)
• Indoor farming
• Outdoor farming
By Farm (Revenue, USD Million; 2019-2027)
• Fruits and Vegetables
• Field Crops
• Others (Flowers and Aquaculture)
By Application (Revenue, USD Million; 2019-2027)
• Harvest Management
• Field Farming (Crop Monitoring, Plant Counting, and Crop Scouting)
• Dairy & Livestock Management (Dairy Farm Management, Livestock Monitoring, and Precision Fish Farming)
• Autonomous mowing, pruning, seeding, spraying and thinning
• Soil Management (Moisture Monitoring and Nutrient Monitoring)
• Irrigation Management
• Weather Tracking & Monitoring
• Sorting and packing
• Inventory Management
• Weed Control
• Others (Financial Management, Farm Labor Management, Demand Forecasting, and Forestry Management)
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Regional Outlook (Revenue, USD Million; 2019-2027)
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Finally, all aspects of the Agricultural Robots market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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