The Agricultural Robot Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Agricultural Robot Global Market Report 2024, The agricultural robot market size has grown exponentially in recent years. It will grow from $14.26 billion in 2023 to $17.5 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to labor shortages in agriculture, precision agriculture adoption, rising demand for food production, government support and subsidies, farm mechanization trends.
The agricultural robot market size is expected to see exponential growth in the next few years. It will grow to $39.28 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%. The growth in the forecast period can be attributed to advanced ai and machine learning integration, customization for different crops, climate change adaptation, autonomous fleets and swarm robotics, integration with farm management software. Major trends in the forecast period include remote sensing and imaging advancements, early innovations and pilot projects, advancements in sensor technologies, data-driven farming, robotics in crop monitoring.
The rise in precision farming is expected to propel the growth of the agricultural robot market going forward. Precision farming is a farming management strategy based on observing, measuring, and responding to temporal and spatial variability to improve agricultural production sustainability. Agricultural robots contribute to precision farming by increasing efficiency, reducing labor costs, and enabling consistent and precise farming practices. For instance, in October 2023, according to an article published by IOWA State University, a US-based university, 66% of farmers used global positioning system (GPS) yield monitors or maps, demonstrating the increasing use of precision agriculture technologies. Therefore, the rise in precision farming is driving the growth of the agricultural robot market.
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The agricultural robot market covered in this report is segmented –
1) By Offering: Hardware, Software, Service
2) By Farming Environment: Indoor, Outdoor
3) By Application: Harvest Management, Field Farming, Dairy And Livestock Management, Irrigation Management, Pruning Management, Weather Tracking and Monitoring, Inventory Management, Other Applications
Major companies in the agricultural robot market are focused on technological advancements such as electric and autonomous robots to provide high-precision weeding and guidance for implements. An electric and autonomous robot is a robot that can move around on its own and accomplish complex objectives without human intervention or being permanently plugged into an electrical source. For instance, in February 2022, Naio Technologies, a France-based robotic manufacturing company, launched a new agricultural robot called Orio. Orio is a multi-crop, multi-task robot that offers a sustainable alternative to the use of herbicides, respects soils, improves working conditions, and collects data for smart farming. It is a light, electric, and autonomous robot equipped with GPS and camera guidance, multiple sensors, and an algorithm based on artificial intelligence. The company offers Orio as a Robots as a Service (RaaS) model, allowing growers to benefit from in-row and intra-row weeding of vegetables and leafy greens, as well as precision seeding and fertilizing.
The agricultural robot market report table of contents includes:
1. Executive Summary
2. Agricultural Robot Market Characteristics
3. Agricultural Robot Market Trends And Strategies
4. Agricultural Robot Market – Macro Economic Scenario
5. Global Agricultural Robot Market Size and Growth
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26. South America Agricultural Robot Market
27. Brazil Agricultural Robot Market
28. Middle East Agricultural Robot Market
29. Africa Agricultural Robot Market
30. Agricultural Robot Market Competitive Landscape And Company Profiles
Top Major Players:
- Deere & Company
- Yamaha Motor Co. Ltd.
- AGCO Corporation
- Trimble Inc
- RheinEnergie AG
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