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Agricultural Robot Global Market Size, Share Analysis, Report 2033
Agricultural Robot Global Market
As per the report, the agricultural robot market size has grown exponentially in recent years. It will grow from $14.26 billion in 2023 to $17.5 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The agricultural robot market size is expected to see exponential growth in the next few years. It will grow to $39.28 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%.
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Precision Farming Surge Propels Agricultural Robot Market Growth
The rise in precision farming is expected to propel the growth of the agricultural robot market going forward. Precision farming is a farming management strategy based on observing, measuring, and responding to temporal and spatial variability to improve agricultural production sustainability. Agricultural robots contribute to precision farming by increasing efficiency, reducing labor costs, and enabling consistent and precise farming practices. For instance, in October 2023, according to an article published by IOWA State University, a US-based university, 66% of farmers used global positioning system (GPS) yield monitors or maps, demonstrating the increasing use of precision agriculture technologies. Therefore, the rise in precision farming is driving the growth of the agricultural robot market.
Unveils Electric And Autonomous Robot For Sustainable Farming Solutions
Major companies in the agricultural robot market are focused on technological advancements such as electric and autonomous robots to provide high-precision weeding and guidance for implements. An electric and autonomous robot is a robot that can move around on its own and accomplish complex objectives without human intervention or being permanently plugged into an electrical source. For instance, in February 2022, Naio Technologies, a France-based robotic manufacturing company, launched a new agricultural robot called Orio. Orio is a multi-crop, multi-task robot that offers a sustainable alternative to the use of herbicides, respects soils, improves working conditions, and collects data for smart farming. It is a light, electric, and autonomous robot equipped with GPS and camera guidance, multiple sensors, and an algorithm based on artificial intelligence. The company offers Orio as a Robots as a Service (RaaS) model, allowing growers to benefit from in-row and intra-row weeding of vegetables and leafy greens, as well as precision seeding and fertilizing.
The agricultural robot market covered in this report is segmented -
1) By Offering: Hardware, Software, Service
2) By Farming Environment: Indoor, Outdoor
3) By Application: Harvest Management, Field Farming, Dairy And Livestock Management, Irrigation Management, Pruning Management, Weather Tracking and Monitoring, Inventory Management, Other Applications
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Major companies operating in the agricultural robot market report are Deere & Company, Yamaha Motor Co. Ltd., AGCO Corporation, Trimble Inc., RheinEnergie AG, Carbon Robotics, BouMatic Robots BV, Nova-Tech Engineering, Autonomous Solutions Inc., Clearpath Inc., CNH Industrial N.V., AeroFarms, PrecisionHawk, AgEagle Aerial Systems, Monarch Tractor, Tevel Aerobotics Technologies, Harvest Automation Inc., Agrointelli, Kind Technologies, Abundant Robotics, Demaitere B.V., Naio Technologies, Auroras s.r.l., Blue River Technology Inc., Agribotix LLC, Aigen Inc., PeK Automotive d.o.o, 3D.aero GmbH, FarmDroid, Deepfield Robotics
Contents of the report:
1. Executive Summary
2. Agricultural Robot Market Report Structure
3. Agricultural Robot Market Trends And Strategies
4. Agricultural Robot Market - Macro Economic Scenario
5. Agricultural Robot Market Size And Growth
…..
27. Agricultural Robot Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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