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Agricultural Robots Market Insights with Statistics and Growth Prediction 2023

06-14-2019 04:59 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Agricultural Robots Market Insights with Statistics and Growth

Agricultural robots are gaining traction among the farmers, owing to the need for producing food products effectively and ensuring sustainability. These robots are deployed to speed farming processes with minimal human interventions. Various agricultural robots are programmed to perform different farming processes such as field farming, dairy farming, seed sorting, soil management, and others. High requirement for modernized and sustainable farming processes to produce faster yields is expected to drive the global agricultural robots market over the forecast period.

Agricultural Robots Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global agricultural robots market was valued at $2,927 million in 2016, and is expected to reach $11,050 million by 2023, registering a CAGR of 21% from 2017 to 2023

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Growth in population, high requirement for food, rise in popularity of indoor farming, common climate variations, and the surge in adoption of automation technology are expected to drive the global agricultural robots market during the forecast period. However, restricted awareness about these robots among the farmers and incapability of the robots to match to human-like dexterity impede the market growth. The agricultural robots market is segmented on the basis of type, application, and geography. The milking robots segment dominates the market, accounting for $6,555 million in 2016, registering a CAGR of 7% during the forecast period.

Based on application, the dairy management segment is expected to generate the maximum revenue during the forecast period, accounting for 61.3% share by 2023.

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KEY FINDINGS OF AGRICULTURAL ROBOTS MARKET STUDY

• The dairy management application accounted for a market share of 29.13% in 2016 and is expected to exhibit a CAGR of 22.1% during the forecast period.

• Among the type segment, the driverless tractors are expected to witness the highest CAGR as compared to other types.

• North America was the highest revenue contributor with around 37.04% share in 2016 and is projected to reach $3,602 million by 2023, growing at a CAGR of 18.8%.

The key players operating in the global agricultural robots market are DeLaval, GEA Group, Autonomous Tractor Corporation, AGCO, Lely, Autonomous Solutions Inc., Harvest Automation, John Deere, Clearpath Robotics, and Deepfield Robotics.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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