Global Agricultural Robots Market is expected to rise from its initial estimated value of USD 5.15 billion to an estimated value of USD 24.14 billion by 2026, registering a CAGR of 21.3% in the forecast period of 2020-2026. Agricultural robots are a system that consists of an end effector, manipulator, and gripper designed to replace human labour. The market is majorly driven by increased global food demand and rising government initiatives with automation. However, the high capital investments may restrain the growth of the market.
Segmentation: Global Agricultural Robots Market
- By Offering (Hardware, Software, Services)
- By Type (UAV/Drones, Milking Robot, Driverless Tractors, Automated Harvesting Systems)
- By Application (Harvest Management, Field Farming, Dairy Farm Management, Soil Management, Irrigation Management, Pruning, Weather Tracking & Monitoring, Inventory Management)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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Major Market Competitors/Players: Global Agricultural Robots Market
Few of the major competitors currently working in the agricultural robots market are Deere & Company (US), Trimble Inc(US), AGCO Corporation (US), AgJunction (US), BouMatic (Europe), Lely (Europe), Ag Leader Technology (Europe), Topcon Corporation (US), AgEagle Aerial Systems, Inc. (US), AutoCopter Corp (Europe), Blue River Technology (US), Auroras s.r.l. (Italy), Grownetics, Autonomous Solutions Inc. (US), Autonomous Tractor Corporation (US), Clearpath Robotics Inc. (Canada), Deepfield Robotics (Europe), DeLaval Inc.(Europe), GEA Group Aktiengesellschaft (Germany), Harvest Automation (UK), and among others.
Competitive Analysis: Global Agricultural Robots Market
Global agricultural robots market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of agricultural robots market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
- Rising government initiatives with automation, this act as a driver to the market
- Rising popularity of indoor farming, this act as a driver to the market
- With increasing population and food supply will act as major drivers for the market
- High capital investments, this act as market restraints
- Lack of awareness and technical knowledge, this act as market restraints
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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