Agricultural robots are machines that are deployed for various agricultural tasks such as seeding, planting, harvesting, orchard and vineyard tasks. Commonly used agricultural robots include harvesting robots, milking robots, indoor farming robots and aerial scouting drones. Harvesting robots are used for picking fruits and vegetables with precision. Milking robots help dairy farmers in automatic milking of cows. Indoor farming robots enable vertical and protected farming by precisely monitoring the nutrient, irrigation and environmental conditions for optimum plant growth. Aerial scouting drones are deployed to capture hyperspectral and multispectral images to monitor crop health and detect issues. With rising labor costs and shortage of farm workers, there has been increasing demand for automation in farming. This is expected to fuel the growth of agriculture robots market over the forecast period.
The global Agriculture Robots Market is estimated to be valued at US$ 13.24 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing demand for automation in farming is one of the key drivers for the growth of agriculture robots market. With farm labor costs rising significantly and shortage of workers, farmers are increasingly adopting robotics and autonomous systems to perform agricultural tasks efficiently. According to recent studies, labor accounts for over 30% of the total cost of production of fruits and vegetables. Agriculture robots can help reduce the dependency on farm labor and lower the costs of production. The other driver is subsidies and funding from governments worldwide to promote precision agriculture. For example, the governments of UK, France, Israel and Canada provide significant subsidies for deployment of agricultural drones and robotic milking systems. This is encouraging more farmers to invest in agriculture robots.
Segment Analysis
The Agriculture Robots Market is dominated by the harvesting segment, which accounts for over 30% share of the market. Harvesting robots help reduce the dependency on labour and allows quick harvesting during peak seasons. They provide consistency and accuracy in harvesting operations. The rising need to improve farm efficiency and minimize production costs is driving the adoption of harvesting robots globally.
PEST Analysis
Political: Governments in many countries are supporting mechanization in the agriculture sector through subsidies and initiatives. This is promoting research and adoption of robotics technologies.
Economic: Rising labour costs and shortage of farm workers is encouraging farmers to invest in agriculture robots to optimize costs. The growing demand for food is also propelling the use of robots for high-yield farming.
Social: Younger generations are showing less interest in agriculture jobs. Robots can help address farm labour issues and ensure continued food production. However, lack of awareness may hamper their acceptance in some regions initially.
Technological: Advancements in robotics, IoT, artificial intelligence and computer vision are enabling the development of more efficient and affordable agriculture robots. Wireless communication solutions are also enhancing robot-to-robot and robot-to-cloud connectivity.
Key Takeaways
The Global Agriculture Robots Market Share is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis comprises- North America dominates the market currently due to rapid technological adoption. However, Asia Pacific is expected to emerge as the fastest growing market owing to the initiatives to modernize agriculture and growing labour costs.
Key players operating in the Agriculture Robots Market are Deere & Company, AGCO Corporation, Agribotix LLC, Agrobot. Deere & Company holds a major share owing to its wide product portfolio and global presence. AGCO Corporation focuses on autonomous tractors and harvesting solutions. Agrobot specializes in aerial crop spraying robots.
The need for smart farming is increasing globally to optimize production and maximize farm output. Robotic solutions are gaining acceptance due to their ability to improve yield, reduce input costs and address labour shortage issues faced by growers. Precision agriculture using robotics and automation can help boost global food supply sustainably. Advancements in localizing technologies will further drive robot deployments across diverse terrains and conditions. However, initial high costs may limit widespread adoption currently.
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