New York, USA, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The agricultural robots market size was registered at USD 13.26 billion in 2023. The market is expected to reach USD 103.50 billion by 2032 from USD 16.62 billion in 2024. The market is likely to exhibit a CAGR of 25.7% during the forecast period from 2024 to 2032.
Market Introduction:
What is Agricultural Robot?
Agriculture robots are automated systems developed for agricultural purposes. These robots are capable of performing agricultural tasks such as harvesting, applying pesticides, and weeding. Other applications of robotics in agriculture can include sowing of seeds, crop monitoring, crop irrigation, Automated sorting, and packing of agri-commodities.
Some agriculture robots work independently, while other performs required functions efficiently with farmers. Due to the rising global food demand, Countries like the United States, Australia, Japan, and some European nations have already started incorporating agricultural robots in farming operations. Agricultural robots have great potential to enhance the profits of farmers in the long run.
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Key Market Stats:
- The agricultural robots market was at USD 13.26 billion in 2023.
- The market is expected to grow from USD 16.62 billion in 2024 to USD 103.50 billion by 2032.
- From 2024 to 2032 period, the market is likely to exhibit a CAGR of 25.7%.
Major Findings from the Report
- Factors such as rising demand for precision farming and sustainable farming practices, increasing global food demand, and lack of skilled labor augment the market growth.
- The market is primarily segmented on the basis of type, component, farming environment, end-user, and region.
- Based on region, North America dominates the market in 2023.
Agricultural Robots Market Drivers and Trends
- Increasing Agricultural Production Requirements: The growing need for precision farming is driven by increasing global food demand, which in turn is pushing agricultural production requirements higher. Agricultural robotics are emerging as a key solution, automating various tasks with minimal human intervention to meet these evolving demands. The adoption of environmentally conscious farming practices, coupled with a greater awareness of agricultural robots, is significantly boosting the agricultural robots market growth.
- Rise in Automation Processes: Agricultural robots play a key role in automating various processes like planting, harvesting, and monitoring with a low need for human labor. Automation of these tasks helps farmers achieve greater efficiency, sustainability, and productivity in their operations. As a result, better yields, lower manufacturing costs, and sustainable farming practices can be achieved, which will drive agricultural robots market growth.
- Minimizes Labor Dependency: As agricultural practitioners increasingly adopt automated technologies, the demand for skilled labor is rising. This shift towards technological dependency, rather than conventional agricultural practices, has led to a reduced dependency on manual labor. Agricultural robots, capable of operating continuously, minimize the need for human workers, contributing to labor shortages and driving up daily wages in the industry.
- Challenges: Despite having crucial advantages like enhanced productivity, accuracy, and decreased labor needs, agriculture robots still need to be adopted by many farmers, especially small and medium-sized ones, due to their high cost. Thus, the high initial investment and maintenance expenses related to these robots require farmers to think once before accessing them.
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Industry’s Prominent Players
- AG Leader Technology
- AGCO Corporation
- Harvest Automation, Inc.
- Drone Deploy
- Agribotix LLC
- Deere & Company
- Boumatic Robotics, B.V.
- Topcon Positioning Systems, Inc.
- Autonomous Solutions, Inc.
- GEA Group
- CLAAS KGaA mbH
- CNH Industrial
Geographical Landscape
North America held the largest agricultural robots market share in 2023 and is anticipated to continue to dominate the market during the forecast period. Factors including the growing adoption of robotic agricultural farming, integration of advanced techniques and technologies, increasing rising labor costs, and shortage of skilled farmers are fueling the market growth in the region.
The Asia Pacific agricultural robots market is likely to grow at the fastest rate during the foreseen period due to the rising population and increasing worries about food security, which has led to the adoption of technological advancements for better productivity.
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Segmental Outlook:
Agricultural Robots Market - By Type-Based Outlook:
- Milking robots
- Driverless tractors
- Unmanned aerial vehicles
- Material management
- Others
Agricultural Robots Market - By Component-Based Outlook:
- Software
- Hardware
- Services
Agricultural Robots Market - By Farming Environment-Based Outlook:
- Outdoor
- Indoor
Agricultural Robots Market - By End-User-Based Outlook:
- Crop management
- Harvest management
- Inventory management
- Soil management
- Dairy management
- others
Agricultural Robots Market - By Region - Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Australia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Browse PMR's Agricultural Robots Market Report Coverage from Different Publications:
The Agricultural Robots Market size is expected to reach USD 103.50 billion by 2032, exhibiting a CAGR of 25.7% during the forecast period.
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