Agricultural Robots Market Projected to reach $11.9 billion by 2026

The global agricultural robots market size is expected to grow from USD 4.9 billion in 2021 to USD 11.9 billion by 2026, at a CAGR of 19.3%. The agricultural robots market is developing rapidly. Factors including rising population, increasing labor shortage, and rising wages are driving the market growth. The untapped market potential and scope for automation in agriculture, use of real-time multimodal robot systems in fields, and increased use of electrification technology in agricultural robots are also expected to create opportunities for the manufacturers and suppliers of agricultural robots, driverless tractors, milking systems, UAVs and drones. However, there are certain factors that hamper market growth. These factors include the high cost of automation for small farms, technological barriers pertaining to fully autonomous robots, and non-commercialization and deployment of several agricultural robots.

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Field farming application to grow with highest CAGR during forecast period

The field farming application is expected to grow at the highest CAGR during the forecast period. Field farming systems include systems that can perform monitoring (crop, soil, and water), plant counting, planting, spraying, and weeding. For any smart farming or precision agriculture application, these actions are essential for farm automation. These actions can be performed by UAVs, driverless tractors, and other robots, for instance, AGVs.

Outdoor segment of agricultural robots market to grow at higher CAGR during forecast period

Agricultural robots for outdoor farming environments are expected to dominate the market during the forecast period as most robots currently used in agriculture applications are outdoor robots. Some of the leading types of outdoor agriculture robots include driverless tractors, UAVs/drones, and automated harvesting systems. Most field crops and fruits & vegetables are grown in the outdoor environment. Farming land is used extensively for the outdoor environment as compared to the indoor environment. As most robots are being developed for outdoor use, outdoor farming is expected to have a larger market share. Since the number of crops grown indoors is limited and major crops such as rice, wheat, and corn can only be grown outdoors, outdoor farming is expected to have a higher growth rate than indoor farming. Post pandemic agriculture robots are expected to have significant opportunities if the industry faces a labor shortage in the future. Increasing adoption of UAVs, driverless tractors, and harvesting systems would further provide an opportunity for the agriculture robot market for the outdoor environment

The Asia Pacific is expected to grow at the highest rate

The APAC region is expected to witness the highest growth during the forecast period, owing to increasing government initiatives to adopt modern technologies and a rise in awareness among farmers. The region has witnessed an emerging demand for automation since farming is one of the important sectors in Asian countries including, China, Japan, India, Vietnam, and South Korea. The adoption of agricultural robots-especially drones-is expected to grow at a high rate in APAC as this region consists of technologically-advanced countries, such as China, South Korea, Thailand, and other countries in Southeast Asia. Developed countries in APAC, for instance, Japan, are focusing more on driverless tractors. The rapidly increasing population, availability of arable farms, and government support through subsidies are the major factors driving the adoption of agricultural robots in APAC.

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Major players in the Agricultural Robots market include Deere & Company (US), DJI (China), CNH Industrial NV (UK), AGCO Corporation (US), DeLaval (Sweden), Trimble Inc. (US), BouMatic Robotics (The Netherlands), Lely (The Netherlands), AgJunction (US), AgEagle Aerial Systems (US), YANMAR Co. (Japan), Deepfield Robotics (Germany), ecoRobotix (Switzerland), Harvest Automation (US), Naïo Technologies (France), ROBOTICS PLUS (New Zealand), KUBOTA Corporation (Japan), HARVEST CROO (US), Autonomous Tractor Corporation (US), Clearpath Robotics (Canada), DroneDeploy (US), Agrobot (Spain), FFRobotics (Israel), Fullwood Packo (UK), and Monarch Tractor (US) among others.

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This release was published on openPR.