Press release
Agricultural Robots Market Competitive Analysis to 2023: DeLaval, GEA Group, Autonomous Tractor Corporation, AGCO, Lely, Autonomous Solutions
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. Asia-Pacific is expected to exhibit high potential, owing to the growth in the agricultural industry as a resultant of exponential increase in demand for food production.
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Farmers are gradually inclining towards automated technology to produce higher yields. Modernized and sustainable farming technologies act as a boon for the agricultural industry, thereby eliminating the possibilities of food scarcity.
Key Findings of the Agricultural Robots Market:
o 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.
o Among the type segment, the driverless tractors are expected to witness the highest CAGR as compared to other types.
o 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%.
Growth in population, high requirement for food, rise in popularity of indoor farming, common climate variations, and surge in adoption of automation technology are expected to drive the global agricultural robots market during the forecast period.
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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.
Highlights of the Report
o Competitive landscape of the Agricultural Robots Market.
o Revenue generated by each segment of the Agricultural Robots Market by 2023.
o Factors expected to drive and create new opportunities in the Agricultural Robots Industry.
o Strategies to gain sustainable growth of the market.
o Region that would create lucrative business opportunities during the forecast period.
o Top impacting factors of the Agricultural Robots Market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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