Agricultural Robots Market to Surpass 81 Billion by 2028
Published | 16 March 2022
The growth of the global agricultural robot market is particularly driven by rising technological development, the launch of a broad range of robots designed for different agricultural processes coupled with progressive adoption of automation technology…
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Global Agricultural Robots Market was worth USD 43,356.7 million in 2021 and is projected to reach up to USD 81,930.3 million by the year 2028, growing at a CAGR of 9.9% over the analysis period of 2022-2028. The growth can be attributed to the role played by the agricultural robots in tackling the societal problems surrounding the growing human populations by improving crop yields, monitoring environmental footprints, and easing a widespread labor shortage. Agricultural robots help the farmers in cloud seeding, fruit picking, weed control, harvesting, environmental monitoring, planting seeds, and soil analysis and also increase efficiency, reduce operating costs and enable the latest precision agriculture techniques. The factors mentioned above are anticipated to propel the growth of the global agricultural robots market during the forecast period.
Market Growth Is Being Driven By High-Profit Margins And Rising Adoption Of Agricultural Robots
The continuous reduction in the amount of agricultural and harvesting lands available for crops yielding due to growing industrialization, increasing infrastructural projects, etc., are directly responsible for the food supply shortage worldwide. Hence, now farmers, milkmen and agricultural industries, etc., are fascinated by the use of agricultural robots to earn high output from the existing land and animals. Moreover, the demand for agricultural robots is also primarily determined by the reduced human efforts notably, which directly results in the labor cost reduction during agricultural functions. Moreover, the key factor which is also responsible for increasing the utilization of agricultural products in the coming years is the increasing demand for precision agriculture and agriculture robots, thus aiding the market growth during the forecast period.
Consistent Government Support Is Propelling the Global Agricultural Robots Market Forward
Rising urbanization and increasing demand for food worldwide are driving the growth of the global agricultural robots market. Moreover, various beneficial policies have been announced by governments worldwide in the form of subsidies or assistance for better production and undertaking initiatives to propagate awareness about agricultural robots among farmers. For instance, the European Union has funded projects, such as GRAPE and MARS, to replace labor-intensive tasks with advanced automated technologies. Furthermore, several established and start-up agricultural companies are investing in research and development activities to introduce an innovative range of agricultural robots in the market, which is likely to escalate the growth rate of the agricultural robots market during the forecast period.
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Impact of COVID-19 On The Global Agricultural Robots Market
The rapid spread of the COVID-19 pandemic impacted the global agricultural robots market, disrupting the supply chain and impairing industries. Due to nationwide lockdowns, international border closures, and strict social distancing measures, worldwide trading activities have dropped significantly. This had a significant influence on the worldwide agricultural robot market since enterprises all over the world were compelled to either shut down completely or partially. Furthermore, in 2021, the second wave of COVID-19 upset the market in several significant markets, including the United States, India, and Brazil, among others. However, with the restoration of trade activity, the market is likely to see stable demand rise over the projection period.
The North America Region Accounted For The Largest Market Share In The Global Agricultural Robots Market
North America is the largest market for agricultural robots in terms of sales, accounting for about one-third of all sales in 2021. The United States is the world's biggest user of drones in agriculture and livestock management. Drones are employed in a variety of applications in the United States, including seeding, chemical spraying, crop monitoring, and irrigation control. In addition, milking robots have a lot of promise in the country. According to Lely, a market leader in milking robots, milking robots are used on roughly 5% of all dairy farms in the United States, and this proportion is expected to expand by 20-30% in the near future. Canada has also emerged as a promising market for milking robots and self-driving tractors. Moreover, the growing precision farming practices in Saskatchewan and Alberta are anticipated to support the sales of robot tractors and drones in Canada.
Competitive Landscape
The global agricultural robots market is highly competitive, with all the players continually competing to gain a larger market share. The key players operating in the global agricultural robots market are Deere & Company, Trimble Inc., AGCO Corporation, Delaval, DJI All Rights Reserved, Boumatic, Lely, Agjunction, Topcon, Ageagle Aerial Systems Inc., YANMAR HOLDINGS Co., Ltd., Farming Revolution Gmbh, Ecorobotix Ltd, Harvest Automation, Naïo Technologies, ROBOTICS PLUS, CNH Industrial, KUBOTA Corporation and other prominent players.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the global agricultural robots market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global agricultural robots market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
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