Global Agricultural Robots Market is slated to surpass a valuation of $19,378.5 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Growing population levels are escalating the demand for food crops, which is driving expansion of the agricultural industry. However, in an effort to keep up with mounting demands, commercial farms throughout the world are increasingly adopting agricultural robots, thereby fostering industry growth.
A growing necessity for commercial and private farms to maximize crop yield, enhance crop quality, and improve overall productivity is fueling the global agricultural robots market. On the other hand, growing scarcity of labor and the rise in labor costs would further propel revenue growth for agricultural robots industry.
The high initial investment required for introducing robots in farms is projected to act as a major hindrance to market growth. However, rapid technological advancements and rising demands from emerging economies are slated to offer numerous growth opportunities over the forecast timeframe.
Growing need for agricultural robots in farming-related activities such as crop plantation, weeding, cultivating, and dairy production has fueled the need to introduce innovative products that address diversified applications across the sector. These efforts are expected to support market expansion in forthcoming years, cites the report.
Leading agricultural robots market players are frequently introducing advanced products in the market to cater to escalating customer demands. For instance, the Hortibot, an advance GPS-enabled autonomous robotic system that can be managed through a smartphone application, is a robot that is specifically developed to recognize and cut down approximately 25 weed varieties.
The Agrobot SW 6010, meanwhile, is a mechanical harvester used for fruit picking and sorting. Similarly, the Asterix Project is an agricultural robot developed by Adigo that is specifically developed for spraying herbicides across the fields.
From a regional perspective, North America dominated the global agricultural robots market, with respect to revenue in 2017. Growing population and increasing demand for high-quality crops have been attributed as prominent factors driving regional market expansion.
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Moreover, growing investments and introduction of favorable subsidies across the agriculture segment by the government would further foster adoption of agricultural robots across farmlands in the region. Furthermore, a growing need to enhance food quality and improve productivity together with enhanced industrialization and automation of agricultural equipment is slated to supplement agricultural robots market growth.
Considering product types, agricultural robots are further segmented into harvesting robots, milking robots, driverless tractors, drones, and others. Back in 2017, the milking robots segment was the largest revenue generator in the global agricultural robots market.
The Lely Astronaut A4 milking robot developed by Lely is among the most popular milking equipment available in the dairy industry. Another innovative product available in this segment is the Voyager robotic fencer, which works as an automated grazing-control system.
Prominent industry players profiled in the agricultural robots market report include AGCO Corporation, AG Leader Technology, Drone Deploy, Harvest Automation, Inc., Deere & Company, Agribotix LLC, Topcon Positioning Systems, Inc., Boumatic Robotics, B.V., GEA Group, Autonomous Solutions, Inc., CNH Industrial, and CLAAS KGaA mbH among others.