Agricultural Robots Market with Covid-19 Pandemic Analysis, Growth Rate, New Trend Analysis Forecast To 2026

Market Size – USD 6.5 Billion in 2018, Market Growth - CAGR of 24.1%, Market Trends – The high cost involved in hiring skilled labor and augmented pressure on food supply are key restraints

The burden on global food supply due to rising world population and surge in venture funding for the expansion of agriculture robots are a few of the key factors driving the growth of the agricultural robots market. The most common applications of robots in agriculture include filed mapping, aerial data collection, planting and seeding intercultural operations, fertilizing and irrigation, picking, and harvesting, while others including dairy farming activities like milking, castrating, washing and shepherding. The Food and Agriculture Organization of the United Nations (FAO) projected that the global GDP of the agriculture industry would increase from USD50 trillion in 2005-07 to USD 126 trillion in 2050. This exponential extension of the agriculture industry is the foremost reason for the hurling of the sales of agricultural robots globally.

This report covers the recent COVID-19 incidence and its impact on Agricultural Robots Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

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Key participants include Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), DJI (China), Boumatic (Netherlands), Lely (Netherlands), DeLaval (Sweden), Topcon (US), and AgEagle Aerial Systems (US)..

The American Association for the Advancement of Science (AAAS), reported that the crop yield of maize, wheat, and rice losses in northern climates are projected to twofold due to rising climatic conditions in which the insects bloom. Likewise, mainly Asian countries are suffering from cumbersome crop losses accredited to insects.

Segments covered in the report:
For this study, Reports and Data have segmented the agricultural robot’s market based on offerings, type, farming, farm, application, and region:

By Type (Revenue, USD Million; 2019-2026)
• Unmanned Aerial Vehicles (UAVs) (Fixed Wing, Rotary Blade, and Hybrid)
• Milking Robots
• Driverless Tractors
• Automated Harvesting Systems
• Other Robots (Robots for Nurseries, Sorting and Packing, and Weed Control)

By Application (Revenue, USD Million; 2019-2026)
• Harvest Management
• Field Farming (Crop Monitoring, Plant Counting, and Crop Scouting)
• Dairy & Livestock Management (Dairy Farm Management, Livestock Monitoring, and Precision Fish Farming)
• Autonomous mowing, pruning, seeding, spraying and thinning
• Phenotyping
• Soil Management (Moisture Monitoring and Nutrient Monitoring)
• Irrigation Management
• Weather Tracking & Monitoring
• Sorting and packing
• Inventory Management
• Weed Control
• Others (Financial Management, Farm Labor Management, Demand Forecasting, and Forestry Management)

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Regional Outlook (Revenue, USD Million; 2017-2027)
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)

Further key findings from the report suggest
• By type, the milking robot segment of agricultural robots is projected to grow at the fastest CAGR of about 20.2% during the analysis periods. The momentous rise in herd sizes and the launching of innovative and advanced automation technologies are also urging the demand for milking robots systems in the industry. The technology facilitates the automation of varied dairy functions such as milking operations, herd management, and dairy farm management. It also enables milk production, owing to increased efficiency and frequency of the process.
• The hardware segment of agricultural robots is expected to dominate the agricultural robots market from 2018 to 2026. Snowballing affordability of auto-steering systems and refining GPS accuracy have aided tractors and other agricultural ground vehicles to operate autonomously.
• By offerings, the services segment of agricultural robots is anticipated to grow at a CAGR of 19.4% during the analysis period. The steep costs of agricultural equipment such as fruit reapers, driverless tractors, and pick over robots have encouraged companies to adopt new models of robots to empower farmers to field test the diverse robotic equipment to decide whether they satisfy their requirements.

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• Detailed market evaluation both at regional and global levels.
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• Classification of the industry based on product type, application, and region
• Market segments segregated on the basis of type, application, and geography
• Comprehensive analysis of the historical data and contemporary market scenario to infer industry size, volume, share, growth, and sales
• Investigation of significant developments in the market dynamics
• Market segments and regions

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This release was published on openPR.