Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global agricultural robot market is likely to propagate due to the growing population and increasing labor shortage, which encourages automation and use of real-time multimodal robot systems in the field
Global agricultural robots market size was valued at USD 4.9 billion in 2019 and is anticipated to which expected to reach USD 26.76 billion by 2027, growing at a CAGR of 19.76 % from 2020-2027. The primary factors are the surge in demand for increasing agricultural automation due to the diminishing number of skilled labor and swelling affordability of IoT and GPS technologies. Additionally, the increase in automation technology, growth in demand for food and feed, rise in popularity of indoor farming, and weather uncertainties. Also, the growing need for monitoring crop health for yield production and the increasing support of the government for the adoption of modern agricultural techniques will accelerate the global agricultural robot industry in the coming years. Further, the reduced human efforts significantly, which automatically results in the labor cost reduction required in the farming functions, are projected to propelling the agricultural robot market.
Moreover, the high cost of hiring skilled labor and increased pressure on food supply is positively impacting the demand. Also, the increase in population in the urban areas and the suburbs, along with the increased demand for food production, is expected to witness remarkable growth in the agricultural robot industry. Furthermore, the high proliferation in the indoor farming process to effectively manage the yields and another farming process would robust impact the global agricultural robot industry in the analysis period. Additionally, the advent of low-cost IoT devices is enabling companies to offer various agricultural software and analytics services to their customers; these vital factors are expected to trigger the expansion of the agricultural robot industry in the upcoming periods.
Offering Overview in the Global Agricultural Robots Market
Based on offering, the global agricultural robot market classified into hardware, software, and services. The hardware segment expected to lead the market by 2027 owing to the rising affordability of auto-steering systems and improving GPS accuracy has enabled tractors and other agricultural ground vehicles to operate autonomously. Additionally, the increasing demand for agricultural drones due to their effective utility and high affordability in crop monitoring and spraying application will accelerate the agriculture robot market.
Type Overview in the Global Agricultural Robots Market
Based on the type, the global agricultural robots market classified into UAVs, milking robots, driverless tractors, automated harvesting systems, and others. The UAVs segment witnessed the largest market share in 2019 and will dominate by 2027. It is owing to the growing application of UAV for pesticide spraying, capturing different videos of harvesting, planting, and scouting fields.
Application Overview in the Global Agricultural Robots Market
Based on the application, the global agricultural robots market categorized into harvest management, field farming, dairy & livestock management, soil management, irrigation management, pruning management, weather tracking & monitoring, inventory management, and others. The dairy & livestock management segment projected to lead the market by 2027. It is due to milking robots helping extract milk from an animal and increasing the milk yield and reducing workforce costs.
Farm Produce Overview in the Global Agricultural Robots Market
Based on farm produce, the global agricultural robots market segmented into fruits and vegetables, field crops, livestock, and others. The field crops anticipated to dominate the market by 2027. It is attributable to agriculture robots help in driverless sprayer/ tractor, and sheep shearing purpose and deployed for the horticultural tasks such as weeding, pruning, monitoring, and spraying.
Regional Overview in the Global Agricultural Robots Market
By geography, the global agricultural robots market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to the high adaptability of the consumers for the new technology, government regulatory policy for encouraging commercial use of drones, growing venture capitals, and the rising industrialization of the agriculture sector.
Global Agricultural robots Market: Competitive Landscape
Companies such as Deere & Company, Trimble, AGCO Corporation, AgJunction, DJI, Boumatic, Lely, DeLaval, Topon, AgEagle Aerial Systems, YANMAR CO., Deepfield Robotics, ecoRoborix, Harvest Automation, Naïo Technologies, ROBOTICS PLUS, CNH INDUSTRIAL N.V., KUBOTA Corporation, HARVEST CROO, Autonomous Tractor Corporation, Abundant Robotics, Clearpath Robotics, Iron Ox, CLAAS KGaA mbH and Ag Leader Technology are the key players in the global agricultural robots market.