Agricultural Robots Market valuation will reach .68 Billion by the end of 20

Posted by omkar on October 25th, 2019

The Agricultural Robots Market was valued at .35 Billion in 2018, and is projected to reach .68 Billion by 2026 growing at a CAGR of 20.90% from 2019 to 2026.  Agriculture robot refers to the technically advanced machine that is deployed for agricultural purposes. These robots are mainly employed for monitoring the crops during harvesting stage. But the advancements in technology coupled with the involvement of skilled professionals have resulted in expanding its applications for weed control, planting seeds, environmental monitoring, cloud seeding, and others. In addition, the driverless tractor or fruit picking robots function more efficiently and had a replaced the human labor. The agricultural robots are also being used in livestock application including washing, automatic milking, etc.

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Continuous developments and innovations in robotics resulted in employment of this field in numerous industries, specifically in agricultural applications. The most common application of agricultural robots accounts to the collection of aerial data, seeding and planting, fertilizing and irrigation, picking and harvesting coupled with some other dairy farming activities like shepherding and milking. However, the skilled professionals are also focusing on inventing small sized agricultural robots with more advanced features, fast functioning, and light weighted automotive machines as compared to the existing models. In addition, weather tracking is another modified feature that has been implemented in the latest agricultural robot models and is proved to be beneficial in updating the farmers or farm practitioners weather latest prevailing climatic conditions including rain prediction, wind speed, temperature, and Solar radiations.

Market drivers

Factors like adoption of latest and technically advanced equipments for agricultural practices, increasing food supply demand, raising awareness about the technically advanced robots and reducing count of farm workers are the prime reasons responsible for the growth of this market. Also, rapid urbanization and increasing count of population across the globe is also influencing the concept and adoption of indoor farming practices. This have resulted in the huge capital investments in automated technology, by the key players of this market; resulted in propelling the growth of this market. Furthermore, favorable and supportive government policies coupled with the formulation of business strategies by the key players of this market to establish their businesses in developing regions like Asia Pacific and LAMEA is also responsible in driving the growth of agricultural robots market. However, the lack of awareness about the benefits and advantages of agriculture robots is the responsible in restricting the market growth.

Market scope

The Agricultural Robots market is segmented on the type, application, and geography. By type the market is segmented into driverless tractors, UAV, milking robots, automated harvest robots, material management, and others. Application segment is divided into dairy management, irrigation management, harvest management, soil management, inventory management, and others. Geographic breakdown and deep analysis of each of the aforementioned segments is included for North America, Europe, Asia-Pacific, and LAMEA.

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The increasing concept of agricultural robots is trending in developed regions like North America, accounting to the increasing demand for advanced agricultural solutions and adoption of such equipment for enhancing the quality and quantity of crop yield. As a matter of fact, Naio Technologies launched two new robots to resolve the issue of weeds in wine yards, where as Lely Company launched the new milking robot named Lely Astronaut5, in May 2018. However, the key players are still focusing on formulation of are the business strategies to increase their market share globally.

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