Agricultural Robots Market Size Worth USD 99.30 Billion in 2032 | Emergen Research
Increasing demand for modernized farming processes and modernization of agriculture are key factors driving agricultural robots market revenue growth
Vancouver, Nov. 20, 2023 (GLOBE NEWSWIRE) — The global agricultural robots market size was USD 6.94 Billion in 2021 and is expected to register a revenue CAGR of 34.4% during the forecast period, according to latest analysis by Emergen Research. Growing population stimulates demand for food and this factor is driving agricultural robot market revenue growth.
Increasing population growth is driving demand for food production and supply and this is driving deployment of agricultural robots in various countries. Global population is rising, but there is still a sharp decline in labor force in the agricultural sector. Moreover, agricultural robots keep a check on crops and can monitor for various types of pests and insects. Demand for modernized farming processes supported by government offers and subsidies to farmers are factors expected to continue driving market revenue growth.
However, factors hampering market growth include high cost of agricultural robots, especially cost of Unmanned Aerial Vehicles (UAVs) and driverless tractors, which makes these options unaffordable among small-scale farmers.
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Scope of Research
|Market size in 2021||USD 6.94 Billion|
|Revenue forecast to 2030||USD 99.30 Billion|
|Base year for estimation||2022|
|Forecast period||2023 – 2032|
|Quantitative units||Revenue in USD Million and CAGR in % from 2023 – 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Offering, farming environment, type, farm produce, application, and region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA|
|Key companies profiled||Trimble Inc., Deere & Company, AGCO Corporation, Lely, Ag Leader Technology, AgEagle Aerial Systems, Inc., Topcon, DeLaval, BouMatic, and Agjunction.|
|Customization scope||10 hours of free customization and expert consultation|
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Major Companies and Competitive Landscape
Some major companies included in the global agricultural robot market report are:
- Trimble Inc.
- Deere & Company
- AGCO Corporation
- Ag Leader Technology
- AgEagle Aerial Systems, Inc.
- On 7 February 2022, AGCO Corporation, which is a U.S. based agricultural machinery manufacturer, launched WR Series self-propelled windrower from Hesston by Massey Ferguson, which is designed to offer comfort, power, and uptime to hay farmers. Additionally, it would increase overall efficiency by 10% over previous model to maximize power and speed of hay production. This newly launched WR Series consists of cutting-edge technologies of Massey Ferguson to offer comfortable rides and increased efficiency. Besides, this WR Series would save fuel up to 12% in fields.
- On 20 January 2022, Deere & Company, which is a U.S. based agricultural machinery manufacturer, successfully added total of seven companies including Four Growers, Burro, Crop.Zone, ViewAR, SeeDevice, Ucropit, and Yard Stick, to 2022 Startup Collaborator Program. This collaboration would help Deere & Company to improve its interactions with startup companies, whose technologies would add substantial value for clients. Additionally, this collaboration program enables Deere & Company to explore broad areas of technologies while enhancing value for customers across different production systems.
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Some Key Highlights from the Report
- Indoor segment revenue is expected to expand at a steady rate during the forecast period. Indoor farming robots comprise 3D cameras, which are capable of capturing information from modules placed in front of them and help in plant harvesting, inspection, and sowing. Furthermore, indoor farming robots are capable of identifying pests and diseases, and alerts enable safeguarding crops against damage and improving plant health.
- Hardware segment revenue is expected to expand at a rapid rate over the forecast period. Rising deployment of cost-efficient Internet of Things (IoT) based technologies and sensors to produce superior quality crops are expected to drive revenue growth of this segment. In addition, various types of hardware such as driverless tractors and UAVs can be operated autonomously with the help of Global Positioning System (GPS).
- Asia Pacific market revenue is expected to register fastest growth rate over the forecast period. Increasing population in countries in the region coupled with shortage of farming labor work force are key factors driving market growth. In addition, depletion of arable land and water sources is supporting demand for agricultural robots in the region.
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Emergen Research has segmented the global agricultural robots market on the basis of offering, farming environment, type, farm produce, application, and region:
Offering Outlook (Revenue, USD Million; 2019–2032)
Farming Environment Outlook (Revenue, USD Million; 2019–2032)
Type Outlook (Revenue, USD Million; 2019–2032)
- Milking Robots
- Unmanned Aerial Vehicles (UAVs) / Drones
- Driverless Tractors
- Automated Harvesting System
Farm Produce Outlook (Revenue, USD Million; 2019–2032)
- Field Crops
- Fruits & Vegetables
- Dairy & Livestock
Application Outlook (Revenue, USD Million; 2019–2032)
- Field Farming
- Harvest Management
- Soil Management
- Dairy Management
Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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