Market Research Future published a research report on “Agriculture Robots Market Research Report-Global Forecast till 2026” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2026.
The agriculture robots market is projected to grow at a CAGR of 29.44% during the forecast period. As per the agriculture robots market research report, the global market for agriculture robots is projected to grow swiftly by US$27.32 billion by 2026. According to analysts, advancements in artificial intelligence (AI) as well as adoption of robots for indoor farming will drive the market growth during the forecast period. The agriculture robots market research report offers a comprehensive analysis of the global agriculture robots market and its application, farm produce, farm type, region, and robot type segments. The high investment demands along with low levels of awareness among farmers are the elements that could influence the agriculture robots market advancement throughout the forecast period. The Agriculture Robots Market research report by expert analysts is developed to assist organizations in the agriculture robots market.
Tevel Aerobotics Technologies has announced this week that it has raised $20 million for its technology, developing flying fruit-catching robots to offer autonomous on-demand harvest. Maverick Ventures Israel, OurCrowd, AgFunder, and Asian agricultural equipment manufacturers, Kubota and Forbon, are among the investors in this round. This takes the overall financing of the organization to $33.9 million and the Israeli Innovation Authority grant of $2.5 million.
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The key players featured in the global agriculture robots market research report are Deere & Company (US), Trimble (Ticker: TRMB) (US), AGCO Corporation (Ticker: AGCO) (US), DeLaval (Sweden), DJI (China), Boumatic Robotics (Netherlands), Lely (Netherlands), AgJunction Inc. (Ticker: AJX) (US), Topcon Positioning Systems, Inc. (US), AgEagle Aerial Systems, Inc. (US), and Yanmar Co. (Japan) among others.
Agriculture Robots Market - Regional Analysis
The geographical analysis of the global Agriculture Robots Market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
The North American market has been segmented into the US, Canada, and Mexico. The regional market is expected to account for the second-largest share of the global agriculture robots market during the review period. The growth of the market in North America can be attributed to the high concentration of market players and the easy availability of proficient technical expertise in the region.
In terms of market size, Europe is projected to hold the largest share in the agriculture robot market. The European market has been divided into Germany, the UK, France, and the rest of Europe. In the last decade, Germany has witnessed significant growth in the indoor farming robot segment. The region has witnessed a rise in partnerships among the key market players. For instance, in May 2019, AgJunction collaborated with technology firm Swift Navigation to develop low-cost, autonomous tractors for agricultural applications.
The market in Asia-Pacific is projected to record the highest growth during the review period of 2020 to 2026. The regional market has been divided into China, Japan, India, South Korea, and the rest of Asia-Pacific. China is the leading revenue contributor to the Asia-Pacific agriculture robot market, owing to the high adoption of technologies and innovations. The growing population and limited availability of arable land, shortage of farm labor, and increasing demand for organic food across the region are expected to impact the market during the forecast period positively.
The rest of the world consists of the Middle East & Africa and South America. Among these, the Middle East & Africa market is expected to register a significant CAGR during the review period. The growing adoption of robotics in the region fuels the growth of the market.
By robot type, the market has been segmented into UAV, milking robots, driverless tractors, automated harvesting systems, and others. The UAV segment was dominant in 2019, whereas the milking Robotsegment is expected to hold the second-highest market share.
By farm type, the market is bifurcated into outdoor and indoor. The outdoor segment dominated the market in 2019. Furthermore, it is expected to register the highest CAGR during the forecast period from 2020 to 2026.
By farm produce, the market has been segmented into fruits & vegetables, field crops, dairy & livestock, and others. The field crops segment was dominant in 2019, whereas the dairy & livestock segment is anticipated to record the highest CAGR during the review period from 2020 to 2026.
By application, the market has been segmented into field farming, harvest management, dairy & livestock management, irrigation management, inventory management, and others. The field farming segment is expected to dominate the review period. The harvest management segment is expected to register the highest CAGR during the forecast period.
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