New York, USA, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global agriculture robot market. According to the report, the global market is projected to surpass $16,640.4 million and grow at a CAGR of 19.2% in the estimated period, 2018–2026. This all-inclusive report delivers a comprehensive overview of the current and future situation of the agriculture robot market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Factors Impacting the Agriculture Robot Market Growth
The key factors boosting the growth of the global agriculture robot market are significant growth in the use of vertical farming and an increase in global population. Furthermore, the use of real-time multimodal robot systems in the field is estimated to unlock lucrative opportunities for market growth in the forecast period. However, the high cost of agricultural robots, combined with a lack of understanding of new technology, is anticipated to deter the market’s growth.
The report segments the global agriculture robot market into type, application, and region.
Request an Exclusive PDF Sample of the Agriculture Robot Market (Including Tables, TOC, and Figures)
Unmanned Aerial Vehicle Sub-Segment to Grab a Foremost Share of the Market
The unmanned aerial vehicle sub-segment of the type segment is foreseen to observe leading growth and garner $1,763 million by 2026. This growth is mainly because these robots aid in boosting crop yield, tracking the development of the crop, and assisting farmers in maximizing their agricultural operations, all of which contribute to increasing the efficiency of the land.
Dairy Management Sub-Segment to Witness Rapid Growth
The dairy management sub-segment of the application segment is predicted to grow enormously and hit $4,492.9 million by 2026. This growth is mainly because of the rising use of advanced robots to collect milk from cows and graze agricultural land.
Ask an Expert Analyst or Schedule a call to Get the Latest Trends on Agriculture Robot Market
North America Region to Perceive Maximum Growth
The report analyzes the global agriculture robot market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth at a CAGR of 18.9% in the estimated period. This growth is mostly due to the ongoing investments in technology and effective government measures in support of agriculture in this region.
Key Players of the Global Market
The report states some of the foremost players operating in the global agriculture robot market including
- DeLaval
- LelyHarvest Automation
- Autonomous Solutions Inc.
- Clearpath Robotics
- Autonomous Tractor Corporation
- AGCO
- GEA Group and John Deere
- Deepfield Robotics
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
For instance, in February 2022, Verdant Robotics, a company focused on integrating technology from autonomous vehicles and extraterrestrial navigation into agriculture, announced "the first multi-action autonomous agriculture robot for specialized crops, which will allow "superhuman farming”.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Agriculture Robot Market:
- Agriculture Robot: A New Generation Smart Equipment to Ease the Farm Labor
- Global Agriculture Robot Market is Predicted to Grow Exponentially in the Upcoming Years
