The robotic milking market is projected to grow at a CAGR of 9.78% over the forecast period of 2017 - 2023. Robotic milking equipment requires hardware and software in order to automate the milking of the cattle. These systems automate the milking procedure and also notify the farmers if any specific cattle need special attention. Automation not only reduces the dependence on labour for various activities but also offers additional time to the farm owner to formulate marketing strategies. Cost-effectiveness due to reduced labour cost and increasing cattle productivity due to automation and effective monitoring are the major factors driving the demand for robotic milking solutions. However, the high initial cost of equipment will inhibit the growing demand for these solutions.
By component, the robotic milking market has been segmented into hardware, software and services. Hardware held a significant market share in 2017 owing to the increasing consumer base opting for hardware solutions and existing customers adding new machines so as to expand their overall herd size. The hardware market is very competitive due to the presence of a large number of players entering the market. The software component for the hardware is being updated on a regular basis as companies aim to provide state-of-the-art solutions to the farm owners. Growing investment in farm automation so as to improve farm productivity and profitability will boost the demand for software. Services held a conservative market share as compared to hardware and software and are projected to grow at a moderate rate throughout the forecast period.
By geography, the global robotic milking market has been segmented as North America, South America, Europe, Middle East and Africa and the Asia Pacific. Each region has been further segmented into major countries of their respective regions. Globally, North America and Europe held a major market share owing to the early adoption of robotic milking solutions as the average farm income is much higher in these regions. Presence of major market players along with favourable government regulation is adding to the demand for robotic milking solutions. The Asia Pacific region will grow at a considerable rate due to increasing farm automation expenditure and growing awareness regarding the advantages offered by robotic milking solutions. The Middle East and Africa and the South American region will witness moderate growth over the forecast period.
Major industry players profiled as part of the report are DeLaval, Inc., GEA Group Aktiengesellschaft, Lely, Fullwood Packo, BouMatic Robotics, and Dairymaster among others.
The robotic milking market has been analyzed through the following segments:
By Herd Size
0 – 90
90 – 180
180 – 250
More than 250
Middle East and Africa
Key insights offered
What will be the robotic milking market size from 2017 to 2023?
How are the major drivers and restraints affecting the Robotic milking market growth and the opportunities which exist for key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants’ behaviour
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth.