Global Agricultural Robots Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Milking Robot, Unmanned Aerial Vehicles (UAV), Automated Harvest System, Others), By Application (Dairy Farm Management, Field Farming, Irrigation Management, Harvest Management, Others), And By Geography - Forecasts From 2021 To 2026
- Published : Dec 2021
- Report Code : KSI061610985
- Pages : 114
The global agricultural robot market is projected to witness a CAGR of 15.21% during the forecast period to reach a total market size of US$3,107.983 million by 2026, increasing from US$1,153.579 million in 2019.
Agriculture is one of the major economic sectors globally. It is also crucial to economic growth: in 2018, it accounted for 4 percent of global gross domestic product (GDP) and in some developing countries, it can account for more than 25% of GDP, a World Bank report states. It is both labor and intensive in nature. An agricultural robot is a robot deployed for agricultural purposes. It automates slow, repetitive tasks for farmers, allowing them to focus more on improving overall production yields. Some of the most common robots in agriculture are used for harvesting and picking, weed control, autonomous mowing, pruning, seeding, spraying and thinning, phenotyping, sorting and packing, and utility platforms.
As agriculture is transforming into a more mechanized and commercial structure, the usage of machinery and equipment has been increasing. This boosts the market for agricultural robots globally. The government is also extending various kinds of low-interest rate loans, subsidies, and tax concessions to farmers to increase productivity, especially in developing nations. This opens up new avenues of the market in those countries. R&D, innovation, and new product launches also drive up the market. Moreover, the agricultural workers are partnering with several giant organizations to provide the raw materials. This yields the necessity to increase production. The usage of mechanisms and robots serves the purpose. Additionally, as the population increases, there has been a high demand for food grains. This also requires increasing output and traditional labor-intensive practices fail to achieve the desired levels. This calls for using advanced techniques in the process. Cumulatively, these factors have been propelling a huge market for agricultural robots.
Geographically, North America is projected to account for the largest share of the agriculture robots market during the forecast period owing to the increasing penetration of automated farm equipment and associated software in the region. China and Japan from the Asia-Pacific region are new emerging markets. By application, Dairy farm management is the most popularly used robotic application in agriculture. Harvest management is another application of agricultural robots and is used in places where the harvested crop is stored. These robots perform operations such as cleaning, cooling, packing, and sorting of the harvested farms.
- Internet of Things (IoT) and Navigation Technologies.
IoT devices connected with farm management software provide data on weather, temperature, soil quality, estimated yield, etc. These analytical data provide insights to the farmers which help them increase and optimize production, plan for challenges, and make smart decisions to maximize productivity. They also provide information on irrigation facilities.
The use of real-time navigation in farm machinery eases the work of the farmers by providing them with real-time updates. This minimizes loss and increases efficiency. The incorporation of technology and connectivity has several advantages over traditional methods. It is being widely adopted and has expanded the market globally.
- The rise in the demand for food.
The world population stands at 7.8 billion in 2021 with a growth rate of 1.1% according to the United Nations Population Fund and this number is expected to rise in the coming years. As the population increases, the demand for food also increases. As Malthus stated, population increases by geometric progression while agricultural supply increases by arithmetic population. Agricultural supply must increase to sustain the growing population. The usage of modern technology and robotics helps raise productivity. An increase in the level of disposable income also increases the demand for food supply. With the help of robots, work in agricultural farms can be done faster and get the cultivated food at a minimum period. Thus, the rise in demand for food supply, and the increasing population are some of the factors which boost the growth of the agriculture robot market.
Even though agricultural robots are miraculously advantageous, there are certain limiting factors harnessing their market growth. The cost of agricultural robots, coupled with the lack of understanding of the new technologies are considered to be the major threats to the growth of agricultural robots, especially in developing countries where agriculture is a prime sector. Secondly, concerns over data privacy and lack of regulation also slow down the market. Thirdly, many agricultural robots cannot be deployed for commercial uses because of their complex operation. This is a major drawback that is restricting the market growth.
COVID-19 On Global Agricultural Robots Market
The COVID-19 pandemic will have a varying impact on different agricultural robots. Even though agricultural activities slowed down during the pandemic, specifically in the developing countries where agriculture remains largely unorganized. The government is trying to recover the loss by employing several restorative measures. The market has contracted in the short run. However, the agricultural robots market will continue to experience high growth as farmers will look to reduce their dependency on manual labour and embrace automation to a greater degree. Hence, the overall market for agricultural robots is expected to pick up in the upcoming years.
The market leaders for the Global Agricultural Robots Market are Vision Robotics Corporation, EcoRobotix Ltd, Naïo Technologies, Agrobot, AgEagle Aerial Systems Inc, Lely Holding, Boumatic Robotics, Deere & Company, Precision Hawk, and Trimble. The key players in the market implement growth strategies such as product launches, mergers, acquisitions, etc. to gain a competitive advantage over their competitors. For instance,
- EcoRobotix Ltd. has raised USD 14.7 million in its latest Series C funding round and partnered with Bucher Landtechnik for the distribution of its products in 2021.
- Naio Technologies has developed BlueBob, a seed breeding technology with Strube D&S GmbH in 2021, Naio and Strube signed a partnership in 2020.
- AgEagle Aerial Systems Inc acquired Measure Global Inc, an aerial intelligence solutions company, in a combination cash and stock transaction valued at approximately $45 million and is planning to partner with Amazon in 2021.
- Lely Holding launched new products in 2020-2021like the Vector Feed and partnered with ID Agro to develop a new modular feed kitchen.
- Boumatic Robotics was introduced in 2020 by Gemini, a milking robot. Deere & Company in 2020 acquired Harvest Profit, a provider of farm profitability software.
Global Agricultural Robots Market Scope:
|Market Size Value in 2019||US$1,153.579 million|
|Market Size Value in 2026||US$3,107.983 million|
|Growth Rate||CAGR of 15.21% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Vision Robotics Corporation, EcoRobotix Ltd, Naïo Technologies, Agrobot, AgEagle Aerial Systems Inc, Lely Holding, Deere & Company, Boumatic Robotics, Precision Hawk, Trimble|
|Customization scope||Free report customization with purchase|
- By Type
- Milking Robot
- Unmanned Aerial Vehicles (UAV)
- Automated Harvest System
- By Application
- Dairy Farm Management
- Field Farming
- Irrigation Management
- Harvest Management
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. GLOBAL AGRICULTURAL ROBOTS MARKET BY TYPE
5.1. Milking Robot
5.2. Unmanned Aerial Vehicles (Uav)
5.3. Automated Harvest System
6. GLOBAL AGRICULTURAL ROBOTS MARKET BY APPLICATION
6.1. Dairy Farm Management
6.2. Field Farming
6.3. Irrigation Management
6.4. Harvest Management
7. GLOBAL AGRICULTURAL ROBOTS MARKET BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Vision Robotics Corporation
9.2. Ecorobotix Ltd
9.3. Naïo Technologies
9.5. Ag Eagle Llc
9.6. Lely Holding
9.7. Boumatic Robotics
9.8. Deere And Company
9.9. Precision Hawk
Vision Robotics Corporation
AgEagle Aerial Systems Inc
Deere & Company
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