The global agricultural robots market size reached a value of US$ 4.1 Billion in 2018. Agricultural robots, also known as agribots, are one of the latest innovations in the agriculture industry. They are autonomous machines utilized for improving quality and efficiency of yield, minimizing reliance on manual labor, and increasing the overall productivity. Agricultural robots are usually equipped with end effectors or specialized arms for performing a wide range of horticultural activities such as weed control, seeding and planting, aerial data collection, filed mapping, fertilizing and irrigation, intercultural operations, harvesting, soil analysis, and environmental monitoring. Apart from this, these robots are also employed for washing and milking livestock in the dairy farming industry.
Global Agricultural Robots Market Drivers:
With growing population, the demand for food is rising at a rapid pace worldwide. As a result, farmers are now shifting towards modern tools and equipment, such as agricultural robots, to increase their total productivity and generating more revenue. Further, governments around the world are offering subsidies and undertaking initiatives to propagate awareness about automated technologies among farmers. For instance, the European Union has funded projects, such as GRAPE and MARS, to replace labor-intensive tasks with advanced automated technologies. Moreover, several established and start-up agricultural companies are investing in research and development activities to introduce an innovative range of agricultural robots. On account of these factors, the market is projected to reach a value of US$ 10.1 Billion by 2024, growing at a CAGR of around 16% during the forecast period (2019-2024).
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The report has also analysed the competitive landscape of the market with some of the key players being Deere & Company, Trimble Inc., Agco Corporation, Lely Holding S.À.R.L, AG Eagle LLC, Agribotix LLC, Agrobot, Harvest Automation, Naio Technologies, Precision Hawk, IBM, Agjunction, Inc., DJI, Boumatic Robotics, B.V., AG Leader Technology, Topcon Positioning Systems, Inc., Autocopter Corp, Auroras S.R.L., Grownetics Inc. and Autonomous Tractor Corporation.
Key Questions Answered in This Report:
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