Agriculture Robots Market Overview
Agriculture robotics is a combination of advance sensing, mobility, navigation, computing and interaction technologies. This robotics is used for efficient and cost effective production of grains, vegetable, fruits and other agricultural products. Agriculture robotics is very advanced robotic technologies which include farmer robots that can perform various farming works such as cultivation and harvesting of vegetables, rice, fruits and others. Agriculture robots or agbots performs various works which are very difficult for humans to do. Use of robotics in agricultural sector has improved overall production and quality of the products. Soil monitoring, proper irrigation, precise weeding and design of cultivated field are some of the major areas on which agriculture robots work.
Market Size & Forecast
Global agriculture robots market is anticipated to flourish at a compound annual growth rate (CAGR) of 21.1% over the forecast period 2017-2024. Global agriculture robot market stood at valuation of USD 3.2 Billion in 2016 and is expected to reach at a valuation more than USD 16.2 Billion by the end of 2024. Rising population coupled with increasing demand for food is the major factor fostering the growth of global agriculture robot market over the forecast period.
Geographically, global agriculture robots market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America region is dominating the global agriculture robots market and has captured highest share among all regions. Agriculture robots market in North America region stood at a valuation of USD 225.5 Million in 2016. Further, North-America region is expected to continue its dominance over the forecast period on the account of the adoption of advanced robotics in agriculture sector. In terms of share, Europe region is the second biggest market of agbots and is anticipated to witness a remarkable growth over the forecast period. Moreover, agriculture robots market in Asia Pacific region is anticipated to flourish at a compound annual growth rate (CAGR) of 11.2% over the forecast period. Population growth, reducing farmable land and rising demand for grains & vegetables are driving the growth of agriculture robots market in Asia Pacific region. Middle East & Africa and Latin America regions are also envisioned to witness a satisfactory growth over the forecast period.
Our-in depth analysis of the global agriculture robots market includes the following segments:
Global agriculture robots market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Increasing population and rising demand for food, grains, vegetables and other agricultural products are some major factors driving the growth of global agriculture robots market. Rising adoption of agriculture robots in agriculture sector has improved the quality and quantity of production of grains, vegetables and fruits. Involvement of agriculture robots in agriculture sector has reduced the human intervention as well as human errors. Considering above factors, global agriculture robots market is expected to witness a robust growth in near future.
Agriculture robots offer various advantages over farming done by human such as harvesting and cultivation of complete land without any error. Due to internet access, they easily forecast weather conditions and work accordingly. Moreover, agriculture robots such as driverless tractors and Oz are some of very advanced agriculture robots which work without any human intervention. Availability of such advance agricultural robots is expected to grow the market of agricultural robots over the forecast period.
Decreasing farmable land and ability of agriculture robots to produce satisfactory amount of grains, vegetables and fruits are some major drivers to the growth of global agriculture robots market. Development of advanced agriculture robots which are used for precise farming such as berry nice robot and others are expected to foster the growth of global agriculture robots market in near future.
However, high cost of agriculture robots is a major challenge which is expected to restrain the growth of global agriculture robot over the forecast period. Apart from this, lack of knowledge about operation of agriculture robots among formers is likely to restrain the growth of agriculture robots market in near future.
Scope & Context
Overview of the Parent Market
The global agriculture robots market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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