New York, Aug. 18, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global agricultural robots market generated USD 7.57 billion in 2021, is projected to generate USD 35.93 billion by 2030, witnessing a CAGR of 18.3% from 2022 to 2030. The report provides an extensive analysis of changing market dynamics in terms of driving forces, restrains, and opportunities. Moreover, each segment and its sub-segments are analyzed based on regions and their respective countries in the research to offer insights and devise steps to be taken for achieving sustainable growth.
The research provides the Covid-19 analysis along with the impact on the global agricultural robots market size. Equipping the thorough analysis about every aspect of the market in 256 pages accompanied by 141 tables and 111 figures, the report aims to provide detailed guidance for market players, investors, and new entrants to devise the course of action for the future.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 7.57 Billion |
| Market Size in 2030 | USD 35.93 Billion |
| CAGR | 18.3% |
| No. of Pages | 256 |
| Tables | 141 |
| Figures | 111 |
| Segments covered | Type, Application, Component, Farming Type, End Use, and Geography. |
| Drivers | Technological advancements such as internet of things (IoT) and artificial intelligence (AI) |
| Benefits such as increased efficiency, minimized labor, and improved crop quality | |
| Opportunities | Supportive government initiatives that encourage adoption of agricultural robotics |
| Innovative product launches |
The report offers an extensive analysis of changing market dynamics with drivers, restraints, and opportunities of the global agricultural robots market. Technological advancements such as internet of things (IoT) and artificial intelligence (AI), focus on sustainable development of agricultural land, and benefits such as increased efficiency, minimized labor, and improved crop quality drive the growth of the market. However, high installation cost and lack of internet connectivity restrain the market growth.
Highlighting the opportunities that lead to the expansion of the agricultural robots market share in the next few years, the Lead Analyst for the Semiconductor & Electronics at Next Move Strategy Consulting, stated, “Supportive government initiatives that encourage modern agricultural techniques present new opportunities in the next few years. In addition, innovative product launches create new avenues for the market.”
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The report provides an extensive segmentation of the global agricultural robots market. Every segment and their sub-segments are analyzed based on regions. The detailed segmentation of the market includes major segments such as type, application, component, farming type, end use, and geography. Based on type, the report further segments the market into driverless tractors, automated harvest robots, milking robots, UAV, and other types. On the basis of application, the report sub-segments the market into dairy management, harvest management, irrigation management, inventory management, soil management, and others. By component, the research sub-divides the market into software, hardware, and services. Based on farming type, the research bifurcates the market into indoor farming and outdoor farming. On the basis of end use, the report further divides the market into field crops, livestocks, fruits & vegetables, and others.
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On the basis of geography, the research further divides the global agricultural robots market into North America, Europe, Asia-Pacific, and RoW. The report highlights that North America dominated the market into 2021, and will maintain its dominance throughout the forecast period. This is attributed to adoption of advanced technologies and surge in R&D activities. However, Asia-Pacific is projected to grow steadily over the forecast period. This is due to supportive government initiatives and adoption of advanced agricultural techniques.
The report analyzes these regions and their respective countries based on each segment and its sub-segments. These insights are helpful in determining the steps to be taken to gain a strong foothold and achieve sustainable growth in the global agricultural robots industry.
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The report provides the comprehensive competitive scenario of the global agricultural robots market by analyzing the leading market players and highlighting strategic development. The leading players of the market analyzed in the research include Agrobot, AGCO Corporation, Blue River Technology, Deere & Company, Naïo Technologies, Lely Industries, Agribotix LLC, Precision Hawk, Trimble, Eagle LLC, Harvest Automation, and IBM.
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