Agriculture Robotics Market Trends

  • Report ID: 365
  • Published Date: Dec 23, 2024
  • Report Format: PDF, PPT

Agriculture Robotics Market Trends

Growth Drivers

  • Higher Labor Shortage - Continuing labor shortage in the farming sector is propelling the demand of agriculture robots. As per a data released by the World Bank, globally, the total ratio of employment in agriculture has dropped to 27% in 2019.
     
  • Rising Trend of Vertical Farming – A novel method of farming that combines indoor farming, urban agriculture, and managed agricultural environments is known as vertical farming. The vertical farming industry has drawn the interest of many investors in recent years. For instance, in 2021, the farming industry fostered approximately USD 1.5 billion.
     
  • Surge in Urbanization- Urbanization, which usually result in an increase in the population of cities and the size of urban regions, is mostly attributed to people migrating from rural to urban areas. According to the statistics provided by the Department of Economic and Social Affairs of the United Nations, in 2018, 55% of the total population of the world was living in urban areas and the same is anticipated to grow to 68% by 2050.
     
  • Escalating Trend of Smart Farming - Agriculture technological advances and recent developments lead to a shift to smart farming and efficient use of time and resources while limiting yield loss. For instance, by the end of 2020, the deployment of IoT devices in agricultural production has reached approximately 70 million, raised at a rate of about 20% per year.

Challenges

  • High Cost of Agriculture robots
  • Lack of Technical Awareness
  • High Primary Investment Cost

Agriculture Robots Market: Key Insights

Growth Drivers

  • Higher Labor Shortage - Continuing labor shortage in the farming sector is propelling the demand of agriculture robotics. As per a data released by the World Bank, globally, the total ratio of employment in agriculture has dropped to 27% in 2019.
  • Rising Trend of Vertical Farming A novel method of farming that combines indoor farming, urban agriculture, and managed agricultural environments is known as vertical farming. The vertical farming industry has drawn the interest of many investors in recent years. For instance, in 2021, the farming industry fostered approximately USD 1.5 billion.
  • Surge in Urbanization- Urbanization, which usually result in an increase in the population of cities and the size of urban regions, is mostly attributed to people migrating from rural to urban areas. According to the statistics provided by the Department of Economic and Social Affairs of the United Nations, in 2018, 55% of the total population of the world was living in urban areas and the same is anticipated to grow to 68% by 2050.
  • Escalating Trend of Smart Farming - Agriculture technological advances and recent developments lead to a shift to smart farming and efficient use of time and resources while limiting yield loss. For instance, by the end of 2020, the deployment of IoT devices in agricultural production has reached approximately 70 million, raised at a rate of about 20% per year.

Challenges

  • High Cost of Agriculture Robotics
  • Lack of Technical Awareness
  • High Primary Investment Cost

The global agriculture robotics market is segmented and analyzed for demand and supply by application management field farming, harvest, dairy & livestock, and soil & irrigation. Out of these sub-segments, dairy & livestock segment is expected to hold the highest growth over the forecast period owing to the growing demand of milk and dairy products. Furthermore, increasing implementation of IoT devices and robotic systems by dairy farmers to enhance the milking systems is further anticipated to boost the growth of the segment over the forecast period. For instance, the deployment of robotic systems in dairy production is growing, and by 2025, sales of robotic systems for dairy farms is projected to exceed approximately 12,000 robots annually.

Base Year

2024

Forecast Year

2025-2037

CAGR

22.5%

Base Year Market Size (2024)

USD 16.46 billion

Forecast Year Market Size (2037)

USD 230.25 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Author Credits:  Abhishek Verma


  • Report ID: 365
  • Published Date: Dec 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of agriculture robots is estimated at USD 19.61 billion.

Agriculture Robots Market size was over USD 13.44 billion in 2023 and is anticipated to reach USD 188 billion by 2036, witnessing around 22.5% CAGR during the forecast period i.e., between 2024-2036. Increasing labor shortage, rising trend of vertical farming, and escalating trend of smart farming will propel the market growth.

North America industry is set to hold largest revenue share by 2037, backed by the rapid deployment of automation in agriculture sector, increasing population, and increasing labor costs in the region.

The major players in the market are Trimble Inc., Deere & Company, CNH Industrial N.V., AgJunction Inc., AGCO Corporation, Lely International N.V., Yanmar Holdings Co., Ltd, AgEagle Aerial Systems Inc., and others.
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