The increasing requirement to enhance the productivity from the existing fields and the decreasing amount of labor are the two major factors that are propelling the growth of the market in the coming years.
Dublin, Ireland – July 14, 2020 /MarketersMedia/ —
The reducing number of labor, the increasing need for higher productivity from the existing field, and the growing rate of the population around the world are the primary factors contributing to the growth of the agricultural robots market. With the rising digitalization, there has been an increase in the demand for improved agricultural technologies. The agricultural robots help in enhancing the efficiency of crops, minimizes the need for manual labor, and monitors the crops from different pests and disease while improving the overall productivity of the field. Additionally, the increasing requirement for modernized and sustainable farming processes to produce faster yield will further accelerate the growth of the agricultural robots market size over the coming years.
According to the agricultural robots market report, the changing climatic condition is leading to an increase in the adoption of indoor farming practices and rising in the demand for monitoring of crops. The combination of these factors will bring innumerable growth opportunities in the market. The rising focus of governments towards supporting the adoption of automation in every sector is promoting the manufacturers to emphasize on product innovation. The proliferation of IoT in the agriculture industry, followed by the rising labor wages, is further enhancing the market growth over the forecast period. On the other hand, the lack of awareness related to the agricultural robots among the farmers and the high initial cost requirement are likely to hamper the growth of the global agricultural robots market.
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On the basis of the offering, the service segment exhibits substantial growth potential and is predicted to gain traction during the forecast period. The high cost of the agricultural equipment, such as driverless tractors, weeding robots, and other equipment, is motivating the organizations to opt for leasing models, thereby enabling the farmers to field test the robotic equipment to ensure which equipment fits the best according to their requirement. Several services offering, including the initial setup advice and the calculation of return on investment (ROI) is emerging in the market. All these factors are surging the demand for the segment in the market.
Based on the type, the UAVs/ Drones segment is anticipated to witness considerable growth over the next six years. This is due to their cost-effective feature and the ability to be easily used in farms of different sizes. With the decreasing prices of UAVs and drones, the farmers are increasingly adopting drones to monitor their crops, analyze the field data information, and livestock management. The increasing application of UAVs or drones is mainly driven by the accelerated adoption by farmers and commercial growers.
On the basis of the farming environment, the outdoor segment is projected to maintain its dominance over the forecast period. The increasing adoption of UAVs, drones, and autonomous tractors equipped with GPS for outdoor farming is the key driver that is surging the demand of the segment. Furthermore, the growing number of outdoor farms as compared to indoor farms is further contributing to the growth of the segment.
Based on the farm produce, the field crops segment is poised to expand in the coming years owing to the growing penetration of the auto-steering systems and autonomous robots at the global level. The crop monitoring and analyzing applications are mostly based on crops such as corn and sugarcane, which is indirectly surging the demand of the segment.
On the basis of the region, the North American region is projected to dominate the agricultural robots market in the next six years. This is due to the increasing penetration of automated farm equipment and software in the region. In addition to this, the rising shortage of labor and increasing immigration scrutiny is encouraging the farmers and commercial growers to opt for agricultural robots as per their specific requirements.
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The key players of the agricultural robots market include Agco Corporation, Topcon Positioning Systems, Inc., Agjunction, Inc., DJI, Boumatic, Deere & Company, Trimble Inc., Lely Group, AG Leader Technology, and AG Eagle LLC, among others.
The research report on the agricultural robots market provides an in-depth analysis of the market revenue based on offering, type, farming environment, farm produce, application, and region for the forecast period from 2020 to 2027. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for the market. The report also analyses the competitive landscape, major players, and their strategies in 2019. The competitive landscape section of the report captures and highlights the recent developments in the market.
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