Rockville, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Expanding at a high-value CAGR of 18%, the global Agriculture Robots Market is projected to reach a valuation of US$ 37.05 billion by the end of 2033, according to a study by Fact.MR, a market research and competitive intelligence provider.
With a continuously growing population, demand for food is increasing at a fast pace, prompting the agricultural sector to gradually adopt technological improvements. The market for agricultural robots is expected to be driven by the need for updated and sustainable farming practices that offer higher yields.
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Key Segments of Agriculture Robots Industry Research Report
| By Type | By Application | By End Use | By Farming Environment |
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Creating, testing, and launching a diverse range of robotic devices for various agricultural applications is the need of the hour. Popularity of indoor farming and changes in climatic conditions have also contributed to a surge in the expansion of the agriculture robotics industry. North America is the leading regional market for agriculture robots, with Asia Pacific projected to be a key market over the coming years.
Key Takeaways from Market Study
- The global market for agriculture robots is estimated at US$ 7.08 billion in 2023.
- Worldwide sales of agriculture robots are projected to surge at 18% CAGR between 2023 and 2033.
- The global market is thus expected to reach a value of US$ 37.05 billion by the end of 2033.
- North America accounted for a market share of 38% in 2022.
- Europe held around 20% share of the global market in 2022.
“Agricultural robotics is a rising sector of technology and innovation that is contributing to the modernization and sustainability of the agriculture industry. These robots are a key instrument in solving the issues of feeding a growing global population while limiting the environmental impact of farming techniques, thereby driving product sales,” says a Fact.MR analyst.
Shortage and High Cost of Acquiring Labor in Agricultural Sector
In recent years, the agricultural sector has been hit due to reduced interest in farming and increasing age of already existing farmers. This has resulted in labor scarcity, putting pressure on farmers to keep up with the farming process and produce higher yields. Rising demand for fresh food, along with scarcity of manual labor, has resulted in high labor wages. Agricultural robots have come in to aid in the automation of farming processes and alleviate the strain of farm labor shortages. Agtech can improve agricultural system efficiencies and increase overall productivity.
Rising Adoption of Precision Agriculture in Farming Systems
Precision agriculture is based on accurate data collection, analysis, and farming task execution. Agricultural robots are critical instruments in this approach because they allow farmers to collect data, make data-driven choices, and execute activities with precision, which is impossible to achieve manually. This improves agricultural production, resource efficiency, and sustainability, all of which are significant drivers of the agricultural robotics market.
Precision agriculture practices are becoming increasingly popular. Agricultural robots with sensors and data analytics can offer farmers real-time data on soil conditions, crop health, and resource management, allowing for more accurate and targeted responses.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 37.05 Billion |
| Growth Rate (2023-2033) | 18% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
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Competitive Landscape
Collaborations between emerging enterprises and established market giants are fueling advancements crucial in today's landscape. A deep understanding of the grassroots challenges faced by farmers empowers a redefinition of the market, leading to comprehensive solutions for modern agriculture. Concurrently, market entities are proactively engaging with governments to seek vital support.
- The 'Robs4Crops Project,' backed by approximately US$ 9 million from the European Union, was initiated in March 2021.
- At the Ag Expo 2022, Naio Technologies introduced the Orio agricultural robot—an eco-friendly substitute for pesticides, enhancing working conditions, soil health, and enabling intelligent data acquisition for farming.
- In a noteworthy unveiling during a press conference in January 2022, John Deere showcased a fully autonomous tractor equipped with cutting-edge features like GPS navigation and a TruSet-enabled chiseled plow.
Key Companies Profiled
- AgJunction
- AgEagle Aerial Systems Inc.
- Kubota Agricultural Machinery India Pvt. Ltd
- Harvest Automation
- AGCO Corporation
- Deere & Company
- CNH Industrial NV
- Lely
- DeLaval
- Deepfield Robotics
- Naio Technologies
- Monarch Tractor
- Clearpath Robotics
- Agrobot
- Agribotix LLC
- Blue River Technology
- BouMatic Robots BV
- Precision Hawk
- GoPro, Inc.
- Yamaha Motor Corporation
- Trimble Inc
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the agricultural robots market for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (unmanned aerial vehicles (UAVs), milking robots, driverless tractors, automated harvesting systems, other robots), application (dairy farm management, inventory management, harvest management, irrigation management, soil management, others), farming environment (indoor, outdoor), and end use (farm produce, dairy & livestock, crops), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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