Global Agriculture Robot Market: Snapshot
The global agriculture market is anticipated to be intensified in the years to come owing to the entry of new vendors in the market with highly advanced data technological solutions for automate machines. The competitive landscape of the market of agriculture robots is widely diverse. The market is also distinguished by the geographical dominance of leading players. Population growth and rising demand for food is also generating the need to enhance agricultural productivity. The agricultural lands have remained stagnant and so did the productivity, hence in order to maintain a constant food supply for the booming population, agriculture robot market is expected to go high in demand in the years to come.
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In developed nations like the U.S., there has been a shift in the statistics of young population who opted for farming. The population of farmers were left to a negligible number. Thus, with the introduction of robots into the agricultural sector, it has been easier to yield more crops with less time and more effort. The need for using less chemicals and fertilizers for optimization of jobs like pick-and-place, weeding and spraying has increased the demand for agricultural robots in the market. Apart from that, workforce decline in case of potentially dangerous farm jobs especially weeding of lettuce, has replaced human labor and propelled the market for agriculture robots in the years to come.
There is an accelerated pressure for automation for routine farm tasking in order to make them more productive. This may also curtail investment in order to buy machines that are expensive, thus acting as an important factor to drive the market for agriculture robots. Robots are available for various kinds of productivity work like that of cow-milking, strawberry picking, grapevine pruning along with other specialized tasks.
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However, the high cost of installing agriculture robots may act as a hindrance in the growth of the agriculture robot market. Adding to that, these robots also need high maintenance and this also comes with a price. Since these robots are integrated with advanced sensor technology, like high definition cameras, and obstacle sensors, it also amplifies the cost of the machines, thus obstructing the overall growth of the market.
The global agriculture robots market is anticipated to expand at a CAGR of 24.1% within the forecast period of 2016 to 2024. Previously, the market was valued at US$1.01 bn at the end of 2016, in terms of revenue. By the end of the forecast period, the valuation is anticipated to be a worth of US$5.7 bn in terms of the overall revenue share of the market.
Driverless Tractors Attracting More Revenue Owing to Farmer Population Decline
The global agriculture robots market is segmented on the basis of type, where the key classifications are spraying robots, automated robots, milking robots, drones or unmanned aerial vehicles and driverless tractors.
On the basis of application, the global agriculture tractor market is classified into agricultural inventory management, weather tracking and forecasting, pruning management robots, spraying robots, irrigation management robots, dairy farm management robots, field mapping robots, harvesting management robots and soil management robots.
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Market in Asia Pacific to Expand Owing to Government Strategies for Increasing Agricultural Production
The global agricultural robots market is studied on the basis of key geographies Europe, North America, Middle East and Africa, Asia Pacific and Latin America. The region contributing the largest revenue share in the market is North America, owing to the high presence of vendors for agriculture robots. Due to the presence of higher farming land, Asia Pacific, is anticipated to grow at a rapid speed. The government in developing nations of China, Japan and India are also focusing on adopting various strategies in order to increase agricultural production so that they can feed their increasing population.
Some of the key players in the global agriculture robots market are Clearpath Robotics, Naio Technologies, PrecisionHawk, Inc., Harvest Automation, Inc., and SenseFly SA.
Since the time Covid-19 has hit industries around the globe, businesses are already reeling under labor shortages, including the farming sector. Automations, such as the use of robots and drones, has brought the agricultural sector veering to new directions, leading to rapid evolution of the agricultural robots. The agriculture robots market thus witnessed a wealth of opportunities in the times of the current health pandemic from the proposition of automation to bridge the labor shortage. Thus, the market has seen a surge of investments from stalwarts and startups alike to automate the various stages of agricultural processes, and carve out a new proposition in farm productivity. Even in the pre-Covid-19 era, the prospects in the agricultural robots were brimming with opportunities, with more and more urban growers taking the strides toward that. One trend that fueled the growth and will continue to do so is the declining cost of digital technologies. A vast array of artificial intelligence technology and sensors are emerging in harvesting, irrigation, and data collection, with the objective of transforming farm productivity
The growing scope of commercialization of harvesting robots is one of the promising avenues in the agriculture robots market. Governments especially in developed nations are supporting such moves with grants and policy changes. Farming companies are increasingly employing skilled robotic operators. Advances technology companies have brought to 3D imaging is also unlocking new prospects in the market. Agricultural robots also have an environmental advantage. However, significant technological challenges impede the pace of commercialization of agriculture robots. Consistency of doing the plucking or harvesting jobs each day by robots is one of them. Meanwhile, robot-as-a-service is emerging as a promising avenue in the market. New business models will shape the growth trajectories of the market in coming few years span. Growers will be attracted toward new improvement gains, which will impart impetus to the adoption of farm or agriculture robots.
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