Global agricultural robots market is projected to witness a compound annual growth rate of 14.80% during the forecast period to reach a total market size of US$2.641 billion by 2024, increasing from US$1.154 billion in 2018. The growing strain on global food supply owing to increasing population coupled with the rapid urbanization of society is driving the need for agricultural robots to enhance the productivity and efficiency of farms. As a result, advanced and innovative robots are being developed for agricultural activities, hence augmenting the agricultural robot market growth. Moreover, government support and initiatives towards modern technology adoption in the agricultural sector are further contributing significantly to the expansion of this market. However, the high cost of machinery restraints its market growth. Geographically, Asia Pacific region is expected to grow at a high rate over the projected period owing to the growing investments in the robotics industry, especially in China, Japan, and South Korea.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottoms-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global agricultural robots value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Global agricultural robots market.
Major industry players profiled as part of the report are Vision Robotics Corporation, EcoRobotix Ltd, Naïo Technologies, Agrobot, AG Eagle LLC and Lely Holding among others.
The Global agricultural robots market has been analyzed through following segments:
Unmanned Aerial Vehicles (UAV)
Automated Harvest System
Dairy Farm Management
Middle East and Africa
Key insights offered
What will be the global agricultural robots market size from 2018 to 2024?
How the major drivers and restraints affecting the agricultural robots 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.
Frequently Asked Questions (FAQs)