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Agriculture Robotics Market Analysis by Type (UAVs/Drones, Milking Robots, Driverless Tractors, Automated Harvesting Systems, and Others); by Offering (Hardware, Software, and Services); by Application Management (Field Farming, Harvest, Dairy & Livestock, and Soil & Irrigation); and by Farming Environment (Indoor, and Outdoor) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Lely International N.V. introduced a new milk sampling device for use with robotic milking systems. It is an ICAR-certified device that has no electronic components called 'Sampler for Lely Astronaut'. The device is capable to hold 60, 72, or 90 samples, depending on the type of bottle.
  • Deere & Company has announced a fully autonomous tractor that is equipped for large-scale production. With its chisel plow, GPS guidance system, and TruSet-enabled chisel plow, it's a combination of Deere's 8R tractor and some new advanced technologies. The tractor is equipped with six stereo cameras, allowing 360-degree obstacle detection and distance calculation.

Global Agriculture Robotics Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Agriculture-Robotics-Market-Size

The global agriculture robotics market is estimated to garner significant revenue by the end of 2031 by growing at a CAGR of ~28% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 5 Billion in the year 2021. The growth of the market can primarily be attributed to the rapidly growing global food demand. According to a report published by the Food and Agricultural Organization of the United Nations, the production of cereals worldwide has been increased by 7 million tons in 2022.

Agriculture-Robotics-Market

Agriculture robotics are the most technologically advanced machines which are used in agriculture. These robots are fully automated, which reduces the amount of time spent on the job and the amount of manual labor required in the field. In this way, a better crop yield by deploying agriculture robotics. Farmers have been using agriculture robotics in a wide array of farming, i.e., harvesting, weed control, seeding, and soil analysis. By using robotics, more advanced agricultural techniques are enabling increased production of grains, fruits, and numerous other crops and helping out to cater to the rapidly growing food demand. It was observed that the global hunger rate reached between 700 and 800 million people in 2020.

Global Agriculture Robotics Market: Growth Drivers and Challenges

Growth Drivers

  • Higher Labor Shortage - Continuing labor shortage in the farming sector is propelling the demand of agriculture robotics.

As per a data released by the World Bank, globally, the total ratio of employment in agriculture has dropped to 27% in 2019.

  • Rising Trend of Vertical Farming A novel method of farming that combines indoor farming, urban agriculture, and managed agricultural environments is known as vertical farming. The vertical farming industry has drawn the interest of many investors in recent years.

For instance, in 2021, the farming industry fostered approximately USD 1.5 billion.

  • Surge in Urbanization- Urbanization, which usually result in an increase in the population of cities and the size of urban regions, is mostly attributed to people migrating from rural to urban areas.

According to the statistics provided by the Department of Economic and Social Affairs of the United Nations, in 2018, 55% of the total population of the world was living in urban areas and the same is anticipated to grow to 68% by 2050.

  • Escalating Trend of Smart Farming - Agriculture technological advances and recent developments lead to a shift to smart farming and efficient use of time and resources while limiting yield loss.

For instance, by the end of 2020, the deployment of IoT devices in agricultural production has reached approximately 70 million, raised at a rate of about 20% per year.

Challenges

  • High Cost of Agriculture Robotics
  • Lack of Technical Awareness
  • High Primary Investment Cost

The global agriculture robotics market is segmented and analyzed for demand and supply by application management field farming, harvest, dairy & livestock, and soil & irrigation. Out of these sub-segments, dairy & livestock segment is expected to hold the highest growth over the forecast period owing to the growing demand of milk and dairy products. Furthermore, increasing implementation of IoT devices and robotic systems by dairy farmers to enhance the milking systems is further anticipated to boost the growth of the segment over the forecast period. For instance, the deployment of robotic systems in dairy production is growing, and by 2025, sales of robotic systems for dairy farms is projected to exceed approximately 12,000 robots annually.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Research-and-Development-Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Agriculture Robotics Market Regional Synopsis

Regionally, the global agriculture robotics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031 backed by the rapid deployment of automation in agriculture sector, increasing population, and increasing labor costs in the region. As per the data provided by the U.S Department of Agriculture, the agricultural labor wages in 2020 was around USD 14.62, which was 59% of the nonfarm wage. Furthermore, wages for graders, sorters, and equipment operators were ranging from USD 14.09 to USD 15.36 per hour in that year.

Agriculture-Robotics-Market-Analysis

The global agriculture robotics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global agriculture robotics market includes the following segments:

By Type

  • UAVs/ Drones
  • Milking Robots
  • Driverless Tractors
  • Automatic Harvesting Systems
  • Others

By Offering

  • Hardware
  • Software
  • Services

By Application Management

  • Field Farming
  • Harvest
  • Dairy & Livestock
  • Soil & Irrigation

By Farming Environment

  • Indoor
  • Outdoor
 

Top Featured Companies Dominating the Global Agriculture Robotics Market

  • Trimble Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Deere & Company
  • CNH Industrial N.V.
  • AgJunction Inc.
  • AGCO Corporation
  • Lely International N.V.
  • Yanmar Holdings Co., Ltd
  • AgEagle Aerial Systems Inc.
  • Autonomous Solutions, Inc. (ASI)
  • Harvest Automation Solutions

 

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