Agriculture Robots Market to be Worth $23.9 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, 'Agriculture Robots Market by Offering (Hardware, Software), Deployment (Indoor, Outdoor), Automation Type (Automated, Semi-automated), and End Use (Crop Farming, Livestock, Forestry, Fishery) - Global Forecast to 2030.'

According to this latest publication from Meticulous Research®, the agriculture robots market is projected to reach $23.9 billion by 2030, at a CAGR of 15.8% during the forecast period. The growth of the agriculture robots market is driven by the rising adoption of drones for smart farming, population growth & labor shortages, and increasing government initiatives supporting the agriculture sector. However, the high costs of implementing agricultural robots restrain the growth of this market.

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The increasing integration of artificial intelligence into agricultural robots is expected to create growth opportunities for the players operating in the agriculture robots market. However, the lack of technical knowledge among farmers and data privacy concerns poses a major challenge to market growth. Additionally, Robot-as-a-Service (RaaS) and the increasing number of start-ups in the agro-tech industry are key trends in the market.

Meticulous Research® has segmented this market based on offering, deployment, automation type, end use, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on offering, the agriculture robots market is segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the agriculture robots market. The large market share of this segment is attributed to the increasing adoption of livestock management robots, rapid automation of agricultural processes, growing population, and shortage of labor. Also, this segment is projected to register the highest CAGR during the forecast period.

Based on deployment, the agriculture robots market is segmented into outdoor and indoor. In 2023, the outdoor segment is expected to account for the larger share of the agriculture robots market. The large market share of this segment is attributed to the growing population, shortage of labor, and increasing need to monitor weather and climatic changes for outdoor farming. Also, this segment is projected to register the highest CAGR during the forecast period.

Based on automation type, the agriculture robots market is segmented into automated and semi-automated. In 2023, the automated segment is expected to account for the larger share of the agriculture robots market. The large market share of this segment is attributed to the rapid adoption of advanced technology, shortage of labor, and increasing demand for automated robots in crop farming. Also, this segment is projected to register the highest CAGR during the forecast period.

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Based on end use, the agriculture robots market is segmented into crop farming, livestock, forestry, and fishery. In 2023, the crop farming segment is expected to account for the largest share of the agriculture robots market. The large market share of this segment is attributed to the rising labor cost, increasing population growth, and increasing need to improve the quality and productivity of yield. However, the livestock segment is projected to register the highest CAGR during the forecast period.

Based on geography, the agriculture robots market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Europe is expected to account for the largest share of the agriculture robots market. The large market share of this segment is attributed to the innovation in the European agri-tech industry, rising pressure on the food supply chain, rising adoption of precision farming, and government initiatives in the region to increase the implementation of advanced technology in agriculture. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.

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Key Players

The key players operating in the agriculture robots market are Yanmar Holdings Co., Ltd. (Japan), AgEagle Aerial Systems Inc. (U.S.), Lely International N.V. (Netherlands), BouMatic (U.S.), DJI (China), Deere & Company (U.S.), XAG Co., Ltd. (China), Clearpath Robotics Inc. (Canada), Naio Technologies (France), Robotics Plus Limited (New Zealand), GEA Group Aktiengesellschaft (Germany), DeLaval (Sweden), and Small Robot Company (U.K.).

Key questions answered in the report-

What are the high-growth market segments in terms of the offering, deployment, automation type, end use, and geography?
What is the historical market for agriculture robots across the globe?
What are the market forecasts and estimates for 2023-2030?
What are the major drivers, restraints, and opportunities in the agriculture robots market?
Which are the major players in the agriculture robots market, and what market share do they hold?
How is the competitive landscape?
What are the recent developments in the agriculture robots market?
What strategies are adopted by the major players in this market?
What are the geographic trends and high-growth countries?
Which are the local emerging players in the agriculture robots market, and how do they compete with the other players?

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This release was published on openPR.