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Agriculture Robots Market (Offering - Hardware, Software, and Services; Type - Unmanned Aerial Vehicles (UAV), Driverless Tractors, Milking Robots, Automated Harvesting Systems, and Others; Application - Harvest Management, Field Farming, Animal Management, Irrigation Management, Weather Tracking & Monitoring, Soil Management, Inventory Management, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : August, 2021

  • Rep Id : ICT0060

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the agriculture robots market provides an in-depth analysis of segments and sub-segments in the global as well as regional agriculture robots market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional agriculture robots market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global agriculture robots market. According to the report, the global agriculture robots market is projected to grow at a CAGR of 35.30% over the forecast period of 2021-2027, growing from nearly USD 9.8 billion in 2021 to approx USD 60 billion in 2027.

 

Market Insight

The robotics field has witnessed several transformations over the past few years. Advancements in the electronics sector and information technology have opened several market opportunities for robotics. The agriculture sector has found several applications for robots and robotics across various verticals. Moreover, as the agriculture sector is growing, the demand for more efficient farming techniques has increased. Many farmers are adopting advanced technologies to boost their yield and increase their revenue. Robotics is been used by many farmers to streamline various processes that are labor-intensive. With the adoption of robots for farming applications, the farmers can save both time, and money by minimizing human interference. Agriculture robots help farmers to minimize the errors caused by farmworkers, and accurately monitor, and assess their farms. Furthermore, the development of autonomous vehicles and smart harvesting systems are anticipated to increase the efficiency of farming.

 

The spread of the novel coronavirus has had a fairly negative impact on the agriculture robots market over a short period. The Covid-19 pandemic spread across the world, governments in several countries imposed strict restrictions on civilians, and organizations. People were compelled to stay in their homes, while several organizations were ordered to reduce or completely stop their operations. Only a few essential services were allowed to operate with full capacity. Agriculture and other related sectors being the essential services were operational during the pandemic. However, the production of agriculture robots market hampered during the pandemic due to the disrupted supply chains. Raw materials such as PCBs, motors, sensors, and others are mainly procured from countries such as China, Taiwan, and Thailand. Strict lockdowns in these countries declined the supply of these raw materials. Nevertheless, the demand for agriculture robots grew over the period of the pandemic due to a surge in demand for food, and beverages during the pandemic. Farmers tried to expand their yield by adopting innovative solutions such as agriculture robots.

 

The ever-growing demand for food due to population explosion is majorly driving the growth of the agriculture robots market. Currently, the global population is growing at a rapid rate compared to 30 or 40 years ago. The growing population requires food to sustain itself, which puts the agriculture sector under pressure. Thus, farmers are using several advanced technological solutions to satisfy the growing demand for food. Moreover, increasing demand for higher productivity farming techniques is further augmenting the sale of agriculture robots. Several farmers are trying innovative farming methods to produce higher yields from a limited area of land. Furthermore, reducing the availability of farm labor across developed as well as developing regions is anticipated to boost the market. Rapid industrialization and increasing migration towards cities are leading to lower farm labor. By adopting agriculture robots, farmers can reduce their dependence on human labor. However, higher cost installation of agriculture robots is majorly hampering the market growth. Nevertheless, advancements in IoT technology and autonomous vehicles are anticipated to offer growth opportunities to the market players over the forecast period.

 

In terms of region, North America accounted for the largest share in the global agriculture robots market. The domination of North America in the global market is mainly attributed to the higher adoption of advanced technologies in the agriculture sector. A large number of farmers in North America use solutions such as precision farming, crop monitoring, remote sensing, and others to improve the yield. Moreover, the lower availability of farm labor in North America is further augmenting the market in the region. On the other hand, Asia-Pacific is anticipated to grow at the fastest rate among the regions. The rapidly growing agriculture sector, coupled with growing agriculture spending is anticipated to support the market growth in Asia-Pacific.

 

Agriculture Robots Market

Segment Covered

The report on the global agriculture robots market covers segments such as offering, type, and application. On the basis of offering, the sub-markets include hardware, software, and services. On the basis of type, the sub-markets include unmanned aerial vehicles (UAV), driverless tractors, milking robots, automated harvesting systems, and others. On the basis of application, the sub-markets include harvest management, field farming, animal management, irrigation management, weather tracking & monitoring, soil management, inventory management, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Abundant Robotics, Inc., AGCO Corporation, AgEagle Aerial Systems Inc., BouMatic LLC, Blue River Technology Inc., Deere & Company, DeLaval Inc., Lely Industries NV, Naïo Technologies SAS, and Trimble Inc..

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the agriculture robots market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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