Wilmington, Delaware, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Global Agriculture Robot Market is valued at US$ 11.5 billion in 2022 and is expected to grow at a significant CAGR of over 24.3% over the forecast period of 2023-2030, market report by RationalStat
Market Definition, Market Scope, and Report Overview
The agriculture robot industry is expanding rapidly as a result of technical breakthroughs, changing agricultural practices, and the desire for better farming productivity and sustainability.
The world's population is expected to continue growing, increasing demand for food. Agriculture robots can help farmers satisfy rising food demand by increasing crop yields and production efficiency. Because of demographic shifts and urbanization, many agricultural regions around the world are experiencing labour shortages. Furthermore, labour expenses are rising in many parts of the world. Agriculture robots provide a solution by automating chores that were formerly done by hand, such as planting, harvesting, and weeding.
According to a deep-dive market assessment by RationalStat, the global agriculture robot market has been analyzed on the basis of market segments, including type, farm produce, farming environment, application and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the global agriculture robot market covers market sizes on the basis of market value (US$/EUR Million) and sales volume (in units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global Agriculture Robot market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Agriculture Robot Market: Segmental and Market Share Analysis
On the basis of type, the milking robots segment is expected to account for the majority of the global agriculture robot market. These sophisticated machines are meant to milk cows without the need for human involvement, providing various advantages to dairy farmers.
On the basis of application, the harvest management segment will expand at the fastest CAGR. It has transformed traditional farming practices by providing more efficient, precise, and data-driven approaches for maximizing crop yields and minimizing losses.
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Period Covered include data for 2019-2028 along with year-wise demand estimations
The agriculture robot market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global agriculture robot market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global agriculture robot market provides a detailed competition benchmarking analysis based on the market share of the leading companies/ brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
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Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment
In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.
The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global agriculture robot market include,
- In July 2022, Yamaha Motor Co., Ltd. is delighted to announce that it has raised its investment in TIER IV Inc. in order to develop and commercialize autonomous driving technology, including its automated transportation solutions.
- In 2021, AGCO Corporation has begun a pilot programme for its Precision Ag Line (PAL) programme, which is intended to streamline support services for farming customers that use AGCO solutions in mixed-fleet operations.
Some of the prominent players and suppliers operating and contributing significantly to the global agriculture robot market growth include AGCO Corporation, Agribotix LLC, AgEagle Aerial Systems Inc., Blue River Technology Inc., AutoProbe Technologies LLC, BouMatic Robots BV, Deere & Company, Harvest Automation Inc., Precision Hawk, Yamaha Motor Corporation, GoPro, Inc. among others.
RationalStat has segmented the global agriculture robot market based on type, farm produce, farming environment, application and region
- Global Agriculture Robot Market Value (US$ Million), Market Volume (Thousand Units), and Market Share (2019-2030) Analysis by Type
- Milking Robots
- UAVs Drones
- Automated Harvesting Systems
- Others (Driverless Tractors)
- Global Agriculture Robot Market Value (US$ Million), Market Volume (Thousand Units), and Market Share (2019-2030) Analysis by Farm Produce
- Fruits & Vegetables
- Field Crops
- Others (Dairy & Livestock, etc.)
- Global Agriculture Robot Market Value (US$ Million), Market Volume (Thousand Units), and Market Share (2019-2030) Analysis by Farming Environment
- Indoor
- Outdoor
- Global Agriculture Robot Market Value (US$ Million), Market Volume (Thousand Units), and Market Share (2019-2030) Analysis by Application
- Harvest Management
- Field Farming
- Dairy & Livestock Management
- Others (Soil & Irrigation Management, etc.)
- Global Agriculture Robot Market Value (US$ Million), Market Volume (Thousand Units), and Market Share (2019-2030) Analysis by Region
- North America Agriculture Robot Market
- US
- Canada
- Latin America Agriculture Robot Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Agriculture Robot Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Agriculture Robot Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Agriculture Robot Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Agriculture Robot Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Agriculture Robot Market
- Leading Companies and Market Players
- AGCO Corporation
- Agribotix LLC
- AgEagle Aerial Systems Inc.
- Blue River Technology Inc.
- AutoProbe Technologies LLC
- BouMatic Robots BV
- Deere & Company
- Harvest Automation Inc.
- Precision Hawk
- Yamaha Motor Corporation
- GoPro, Inc.
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Key Questions Answered in the Agriculture Robot Report:
- What will be the market value of the global agriculture robot market by 2030?
- What is the market size of the global agriculture robot market?
- What are the market drivers of the global agriculture robot market?
- What are the key trends in the global agriculture robot market?
- Which is the leading region in the global agriculture robot market?
- What are the major companies operating in the global agriculture robot market?
- What are the market shares by key segments in the global agriculture robot market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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