Research Dive has recently published a report titled “Agriculture Robot Market, by Type (Material Management, Automated Harvest Robots, Milking Robots, Unmanned Aerial Vehicles (UAVs), Driverless Tractors and Others) by Application (Inventory Management, Soil Management, Harvest Management, Irrigation Management, Dairy Management, Others) Regional Outlook (North America, Europe, Asia-Pacific, LAMEA), Global Opportunity Analysis and Industry Forecast, 2018-2026.”
The global agriculture robot market is expected to generate a revenue of $16,640.4 million at a CAGR of 19.2% during the forecast period.
The Asia-Pacific market will maintain its leading position by growing at a CAGR of 19.7% and generating a revenue of $3,798.3 Million by the end of 2026. The main reason behind this growth is the increased use of automation in the farming sector of Asia-Pacific countries such as India, Japan, and China. Apart from this, the government initiatives and subsidies are going to influence the Asia-Pacific market during the forecast period.
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Key Segments of the Market
The report divided the market into different segments based on type, application, and regional outlook.
- By type, the unmanned aerial vehicle segment is predicted to surpass $1,763 million during the forecast period. These robots are used in increasing crop production, as well as monitoring the growth of the crop, protecting the crop from pest attacks. The robots are also used to optimize the agricultural operation, which improve the land efficiency contributing to the growth of the industry.
- By application, the dairy management segment will generate the highest revenue share. It is the most-extensively used robotic application in the agriculture sector. This segment generated a revenue of $1,146 Million in 2018, and is further anticipated to reach $4,492.9 Million by 2026.
Increasing population results in the rising demand for food supply which is going to be one of the major growth attributor for the global agriculture robots market. Another factor is the vertical farming which is being adopted by the farmers. With the help of agricultural robots, the farmers will be able to produce more food in less time. These are the main factors enhancing the growth of the global agriculture robots market during the forecast period.
Higher level of investment is required for the agricultural robots which is predicted to be a major challenge for the growth of the market.
Key Market Players and Business Strategies
According to the report, the leading players of the global agricultural robot market are DeLaval, LelyHarvest, Clearpath Robotics, Automation, Autonomous Tractor Corporation, Autonomous Solutions Inc, AGCO, GEA Group, Deepfield Robotics, and John Deere among others.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.
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