Market Research Report
Agricultural Robots Market, By Product, By Offering, By Farming Environment, By Application and By Geography - Analysis, Share, Trends, Size, & Forecast From 2020-2026
|Published by||AnalystView Market Insights||Product code||926779|
|Published||Content info||179 Pages
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|Agricultural Robots Market, By Product, By Offering, By Farming Environment, By Application and By Geography - Analysis, Share, Trends, Size, & Forecast From 2020-2026|
|Published: February 1, 2020||Content info: 179 Pages||
Agricultural robots market was valued at USD 7.28 billion by 2019, growing with 19.9% CAGR during the forecast period, 2020-2026.
Agricultural robots are used to improve the efficiency of agricultural activities. They reduce the dependency on manual labor and improve the time efficiency for weed control, spraying, harvesting and monitoring environmental conditions. The industry growth is majorly attributed to the scarcity of labor accessibility for farming. A study on 'Agricultural Labour Shortage' published in the Economic Affairs, Vol 62, (December 2017), stated that there has been a scarcity of labor accessibility for farming owing to occupational changes, government reforms, etc. Such factors are going to boost the demand for agricultural robots, driving the industry growth. Other factors such as technological advancements, favourable government initiatives coupled with growing number of companies' investments support the market growth.
On the flip side, the costs involved in incorporating these systems into agriculture could be an expensive affair, which could be a major restraining factor in the growth of this industry. Another restraining factor is the flexibility and dexterity required in farming which is difficult to match even with automized robots, which would thus need further research and development in this sector.
Based on the product, the agricultural robot market is categorized into driverless tractor, unmanned aerial vehicles, milking robots, and materials management. The milking robots have been the most widely accepted among the rest of the agricultural robots. An article in the Indian Mirror (2018) stated that India contributes to about 20% of the worldwide dairy demand. Thus, the scope for the continual usage of these milking robots improves the productivity and the overall yield. Due to this benefits, there were increased installation of this system since past few years. For instance, an article on the Dairy Cattle extension (August 2019) stated that globally approximately 35,000 robotic milking systems have been installed. This number is only expected to continue to rise consistently.
In terms of offering, this category can be segmented into Software, Hardware, and Services. Of these, the services sector is anticipated to witness the highest growth over the forecasted period. The hindubusinesline.com (May 2019), stated that driverless tractors and such types of equipment & services will be made commercially available. They will improve the ease of spraying, plowing, planting or weed elimination as a service. This is followed by the growth of the software & hardware industry with regard to agricultural robots.
Farming Environment Takeaway
The farming environment segment can be segregated into indoor and outdoor farming. In general, the practice of outdoor farming is much more prevalent globally as compared to indoor farming. Therefore, the outdoor category dominates the industry with respect to the farming environment that capitalizes agricultural robots more.
Application wise, the agricultural robots has been categorized into field farming, dairy, animal, soil, and crop management. According to the WorldBank.org data, almost 40% of the land use is agricultural land. Thus, the scope for field farming is expected to skyrocket over the forecasted period. An article in roboticsbuissnessreview.com stated that robots are assisting farmers in preventing losses of over 43 billion caused due to herbicide resistance.
Regionally, America dominates the current market scenario with regard to the penetration of agricultural robots. An Article in the Newyorker (April 2019) stated that Wish Farms (One among North America's largest strawberry fields) face the lack of labors during peak season and are therefore opting for automation robotic systems to pick their berries.
The scope for growth of this industry is immense in the agricultural countries such as India, which is majorly an agricultural land. An article on Trading Economics, (2019) suggested that the Indian GDP from Agriculture had reached an all-time high of 5,869.3 INR billion in the fourth quarter of 2018. Another report on Bloomberg.com (June 2018) stated that China was about to launch seven agriculture pilot programs in the Jiangsu province. Such efforts are expected to continue to boost the demand of the robotics market in the Asia Pacific region as well.
Key Vendor Takeaway
The key players that dominate the market in this category are; AGCO Corporation, BouMatic Robotic B.V., Autonomous Solutions, Inc., Harvest CROO Robotics, Agribotix LLC, CNH Industrial, GEA Group, CLAAS, Drone Deploy, Harvest Automation, Inc., and Trimble, Inc. Companies are actively involven in new and innovative product development. Harvest CROO Robotics has been claiming that it could harvest 8 acres of farmland in a day, can replace about thirty skilled laborers. In November 2019, DroneDeploy managed to raise USD 35 million that would be invested in drone management and tools for logistics.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2015 to 2018
Base Year - 2019
Estimated Year - 2020
Projected Year - 2026
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
Unmanned Aerial Vehicles
MARKET, BY OFFERING
MARKET, BY FARMING ENVIRONMENT
MARKET, By APPLICATION
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
United Arab Emirates
Rest of MEA