Press release
Global agriculture robot market is anticipated to reach at revenue around USD 16.2 Billion by the end of 2024, according to Research Nester
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.
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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.
Market Segmentation
Our-in depth analysis of the global agriculture robots market includes the following segments:
By Product
Driverless Tractors
Milking Robots
Potato Sorting System
Unmanned Aerial Vehicles
Others
By Application
Field Farming
Soil Management
Crop Management
Grafting
Nursery Operations
Pruning
Thinning
Weeding
Others (Potting and others)
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.
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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.
This report also provides the existing competitive scenario of some of the key players of the global agriculture robots market which includes company profiling of Energid Technologies Corp., Clearpath Robotics Inc., Autonomous Solutions Inc., ATI Agritronics Inc., Kinze Manufacturing, Harvest Automation, ISO Group, Helper Robotech Co. Ltd., Blue River Technology and Vision Robotics Corp. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global agriculture robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
To know more about this research, kindly visit: https://www.researchnester.com/reports/agriculture-robots-market-global-demand-analysis-opportunity-outlook-2024/365
About Research Nester
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Contact for more Info:
Ajay Daniel
Email: ajay.daniel@researchnester.com
Phone: +91 120 660 5495
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