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Agricultural Robots Market - The Fourth Farming Revolution, To Safeguard Global Food Security | insightSLICE

07-30-2020 05:15 PM CET | Industry, Real Estate & Construction

Press release from: insightSLICE

Agricultural Robots Market

Agricultural Robots Market

Technological advancements, decreasing number of farm workers, and high efficiency of agricultural robots to fuel market growth

The Global Agricultural Robot Market was valued at US$ 3.1 billion in 2019. With advancement in technology, the agricultural robots are anticipated to emerge as a basic component of farming over coming decade. The global agricultural robot market is anticipated to witness a prominent double digit growth close to 25% during the forecast period with an aim to increase productivity. Agriculture has been the back bone of the global economy over centuries and has contributed approximately 1/3rd to the global GDP in recent years.

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However, with rising urbanization, rural or farm working population has witnessed significant migration towards urban center, thereby creating crisis on a global scale. Along with this, rise in population has put the agriculture industry under tremendous pressure. This has created an opportunity and has led to the adoption of advanced technology in the field of agriculture. Agricultural robots are widely being used on a niche scale for nursery planting, crop seeding, crop monitoring & analysis, fertilizing & irrigation, crop weeding & spraying, milking, and picking & harvesting applications.

Unmanned Aerial Vehicles (UAVs) to emerge as a basic tool for Modern Agriculture

The agricultural robots market study is segmented based on component, type, farming environment, produce type, application, and geography. Based on type, the global agricultural robot market is segmented into unmanned aerial vehicles (fixed wing, rotary blade, & hybrid), milking robots, driverless tractors, automated harvesting systems, and other. The unmanned aerial vehicles (UAVs) accounted for a largest share of the market in 2018 owing to high penetration & adoption across the globe. The unmanned aerial vehicles are being used by farmers for crop monitoring, livestock management, and crop & soil fiend analysis and has emerged as basic modern agricultural tool, this is anticipated to be the primary factor towards the prominent growth of UAV in agriculture during the forecast period.

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Demand of agricultural robots for remote livestock and filed monitoring to ramp-up in coming years
Based on farming environment, the market is segmented into indoor farming and outdoor farming. Outdoor farming accounts for more than 3/4th of the farming. The volume of equipment used is significantly high as compared to that of indoor farming equipment. Moreover, outdoor farmers have adopted unmanned aerial vehicle and unmanned autonomous tractors quipped with GPS for real time livestock monitoring, and fiend monitoring. Consequently, outdoor farming robots dominated the market in 2018 and are anticipated to be grow at a prominent rate during forecast period. Moreover, indoor agricultural robots such as milking robots are anticipated to grow at steady CAGR during forecast period.

Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global agricultural robot market in 2018 and is anticipated to be the dominating geography throughout the forecast period owing to high penetration of agricultural robots for wide range of applications. North America is anticipated to be the hub for technological advancements in the agricultural robots during coming decade. Asia Pacific is anticipated to be the fastest growing market owing to increasing investment in development of advanced tools for modern agriculture.

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insightSLICE is a market intelligence and strategy consulting company. The company provides tailor-made and off the shelf market research studies. The prime focus of the company is on strategy consulting with an aim to provide end-to-end solutions.

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