Future-Ready Farming: Agriculture Robots Market to Surpass $23.9 Billion


Posted September 27, 2024 by Deeya5220

Explore $23.9 billion agriculture robots market: Get exclusive insights on key market trends, segments, geographical analysis, & competitive analysis!
 
Introduction
A recent report by Meticulous Research®, "Agriculture Robots Market by Offering, Deployment, Automation Type, and End Use—Global Forecast to 2031," forecasts the agriculture robots market to reach $28.2 billion by 2031. This growth reflects a compound annual growth rate (CAGR) of 16.6% in terms of value and an 8.6% CAGR in volume, which will result in over 30 million units by 2031.

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Key Growth Factors
The expansion of the agriculture robots market is influenced by multiple factors, including the rising use of drones for smart farming, an increasing global population, and labor shortages. Furthermore, government initiatives that aim to modernize agricultural practices contribute to market growth. However, high implementation costs present challenges that can hinder adoption.

AI's Impact on Growth
The incorporation of artificial intelligence (AI) into agricultural robots provides substantial growth opportunities. Nevertheless, issues such as a lack of technical knowledge among farmers and data privacy concerns can slow the adoption of these technologies.

Offering-Based Segmentation
The agriculture robots market is segmented into hardware, software, and services. The hardware segment is expected to dominate, accounting for over 88% of the market share by 2024, driven by the need for automation in agricultural processes. MetoMotion’s AI-powered tomato-picking robot, launched in 2023, exemplifies innovations in the hardware sector addressing labor shortages.

Deployment Strategies
Agricultural robots are deployed in both indoor and outdoor environments, with the outdoor segment expected to hold over 89% of the market share by 2024, due to the need for crop monitoring and environmental management. Clearpath Robotics is enhancing outdoor applications with GPS-based navigation software tailored for agricultural use.

Types of Automation
The market is segmented into automated and semi-automated systems, with the automated segment projected to hold over 81% of the market share by 2024. This trend is largely driven by the integration of AI and digitalization in agriculture. Naio Technologies has introduced Orio, a fully automated agricultural robot designed for precision farming, showcasing the growing trend of automation.

End-Use Market Dynamics
Crop farming is expected to dominate the agriculture robots market with over 56% of the share by 2024, driven by increasing labor costs and the demand for greater productivity. Conversely, the livestock segment is anticipated to grow at the highest CAGR, supported by innovations in monitoring and health management technologies.

Regional Market Insights
Europe is projected to hold over 34% of the agriculture robots market share by 2024, bolstered by government initiatives that support technological innovation in agriculture. The EU’s investment in projects like Robs4Crops exemplifies this trend. Meanwhile, Asia-Pacific is expected to witness the fastest growth, driven by the adoption of smart agricultural technologies in countries like China, India, and Japan.

Conclusion
The agriculture robots market is positioned for substantial growth, propelled by technological advancements, supportive government policies, and an increasing need for higher agricultural productivity. While challenges such as high costs and data privacy concerns remain, the continued integration of AI and automation technologies is set to transform the agricultural landscape, offering significant opportunities for market stakeholders.

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Key Players

The key players operating in the agriculture robots market are Yanmar Holdings Co., Ltd. (Japan), AgEagle Aerial Systems Inc. (U.S.), Lely International N.V. (Netherlands), BouMatic (U.S.), DJI (China), Deere & Company (U.S.), XAG Co., Ltd. (China), Clearpath Robotics Inc. (Canada), Naio Technologies (France), Robotics Plus Limited (New Zealand), GEA Group Aktiengesellschaft (Germany), DeLaval (Sweden), and Small Robot Company (U.K.).

Key Questions Answered in the Report:

What are the high-growth market segments in terms of the offering, deployment, automation type, and end use?
What is the historical market size for the agriculture robots market?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the agriculture robots market?
Who are the major players in the agriculture robots market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the agriculture robots market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the agriculture robots market, and how do they compete with other players?

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Issued By Meticulous research
Country United States
Categories Agriculture
Tags agriculture robots market agricultural robots agricultural robotics agribot robotic farming agrobot robotics and agriculture
Last Updated September 27, 2024