Global Agricultural Robots Market

Agricultural Robots Market Size, Share, Growth Analysis, By Product Type(Unmanned aerial vehicles (UAVs), milking Robots), By Application(Field Farming, dairy Management) - Industry Forecast 2024-2031

Report ID: SQMIG20H2024 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 65 | Figures: 75

Agricultural Robots Market Insights

Global Agricultural Robots Market size was valued at USD 5.50 Billion in 2022 and is poised to grow from USD 7.67 Billion in 2023 to USD 109.96 Billion by 2031, at a CAGR of 39.49% during the forecast period (2024-2031). 

The global agricultural robots market is experiencing significant growth globally. Our report contains detailed information on the value chain analysis for the Agricultural Robots market, which manufacturers can use to gain a competitive edge during the projected period. Agricultural robots are gaining popularity among farmers due to the necessity to produce agricultural items efficiently while also maintaining sustainability. These robots are used to speed up farming procedures while requiring minimum human participation. Agricultural robots are designed to execute a variety of farming tasks, including field farming, dairy farming, seed sorting, soil management, and others. Increased population, increased need for food supply, increased popularity of indoor farming, frequent climatic fluctuations, and increased acceptance of automation technologies are projected to drive future growth in the worldwide agricultural robots market. However, the global agricultural robotics sector is projected to face a few problems, such as farmers' lack of knowledge of agricultural robots and the robots' failure to match human-like dexterity. Adoption of telematics sensors may represent a global market opportunity.

Governments all around the world have announced several beneficial initiatives, such as offering subsidies or aid for enhanced output and establishing campaigns to educate farmers about agricultural robots. For example, the European Union has backed efforts like GRAPE and MARS to replace labor-intensive jobs with cutting-edge automated technology. Furthermore, numerous current and new agricultural firms are investing in R&D activities to bring a cutting-edge line of agricultural robots to market, which is expected to increase the market's growth rate throughout the forecast period.

US Agricultural Robots Market is poised to grow at sustainable CAGR for the next forecast year.

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Agricultural Robots Market size was valued at USD 5.50 Billion in 2022 and is poised to grow from USD 7.67 Billion in 2023 to USD 109.96 Billion by 2031, at a CAGR of 39.49% during the forecast period (2024-2031). 

The Agricultural Robots Market features a highly competitive landscape with the presence of several key players. Some of the prominent players in the market focus on product innovation and quality advancements to gain a competitive edge. They invest significantly in research and development to introduce new features and functionalities in their Agricultural Robots solutions. Additionally, strategic partnerships, collaborations, and acquisitions are common strategies employed by these players to expand their market presence and enhance their product portfolios. With the growing demand for Agricultural Robots solutions, the competition among these players intensifies, leading to continuous advancements and improvements in the market offerings. 'Deere & Company (US)', 'AGCO Corporation (US)', 'Trimble Inc. (US)', 'CNH Industrial N.V. (Netherlands)', 'Kubota Corporation (Japan)', 'Yara International ASA (Norway)', 'DJI (China)', 'Topcon Corporation (Japan)', 'Lely Holding S.A.R.L. (Netherlands)', 'AG Leader Technology (US)', 'PrecisionHawk Inc. (US)', 'Harvest Automation Inc. (US)', 'Naio Technologies (France)', 'Kinze Manufacturing Inc. (US)', 'Autonomous Tractor Corporation (US)', 'Blue River Technology (US)', 'Autonomous Solutions Inc. (US)', 'Clearpath Robotics Inc. (Canada)', 'GEA Group AG (Germany)', 'FarmBot Inc. (US)'

Many regions around the world are facing challenges in finding an adequate workforce for farming activities. Factors such as rural-to-urban migration, aging farming populations, and the unattractiveness of manual labor in agriculture have contributed to this issue. Agricultural robots offer a viable solution by automating various tasks, reducing the reliance on human labor, and optimizing operational efficiency. These robots can perform tasks such as planting, harvesting, and monitoring crops with precision and accuracy, resulting in increased productivity and reduced labor costs.

Integration of artificial intelligence (AI) and machine learning (ML) technologies: AI and ML technologies offer enhanced capabilities for data analysis and interpretation, allowing agricultural robots to gather insights on crop health, soil conditions, weather patterns, and pest infestations. By leveraging this information, farmers can make data-driven decisions, optimize resource allocation, and implement precision farming practices. AI and ML enable robots to adapt and learn from their surroundings. By continuously analyzing data and adjusting their operations based on feedback, agricultural robots can improve their performance over time.

North America holds the largest market share in the agricultural robots market. The region is witnessing significant growth due to several factors. Firstly, North America has been at the forefront of adopting advanced farming technologies, driven by the need for increased productivity and sustainable farming practices. The presence of major agricultural machinery manufacturers and tech companies in the region further contributes to market dominance. The region benefits from well-developed infrastructure, favorable regulatory frameworks, and a high level of awareness among farmers regarding the benefits of automation and precision farming techniques.

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Global Agricultural Robots Market

Product ID: SQMIG20H2024