Agricultural Robots Market Opportunities and Challenges

Northbrook, USA, 2021-Nov-12 — /EPR Network/ —

According to a research report “Agricultural Robots Market by Type (Milking Robots, UAVs/Drones, Automated Harvesting Systems, Driverless Tractors), Farm Produce, Farming Environment (Indoor, Outdoor), Application, and Geography – Global Forecast to 2026″ published by MarketsandMarkets, the global agricultural robots market size is expected to grow from USD 4.9 billion in 2021 to USD 11.9 billion by 2026, at a CAGR of 19.3%. The agricultural robots market is developing rapidly. Factors including rising population, increasing labor shortage, and rising wages are driving the market growth. The untapped market potential and scope for automation in agriculture, use of real-time multimodal robot systems in fields, and increased use of electrification technology in agricultural robots are also expected to create opportunities for the manufacturers and suppliers of agricultural robots, driverless tractors, milking systems, UAVs and drones. However, there are certain factors that hamper market growth. These factors include the high cost of automation for small farms, technological barriers pertaining to fully autonomous robots, and non-commercialization and deployment of several agricultural robots.

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As a result of the COVID-19 outbreak, businesses worldwide have been impacted by revenue losses and disrupted supply chains as factory shutdowns and quarantine measures have been implemented across the globe, restricting movement and business activities.

UAVs to dominate the market during the forecast period

In terms of volume, UAVs are expected to be the leading segment during the forecast period. The cost of agricultural drones has been steadily declining over the years, which has made them an attractive investment for many modern farmers. The emergence of cheap multispectral cameras has also helped to reduce costs as low as USD 1,500. With authorities such as Federal Aviation Administration (FAA) laying the groundwork for regulations on the use and operation of drones, the adoption of UAVs has increased drastically for agricultural applications. Hence, UAVs have the largest share of the market.

Field farming application is expected to witness the fastest growth during the forecast period

The use of drones and driverless tractors is automatizing field farming. Owing to the high penetration rate of UAVs and the high average selling price of driverless tractors, the field farming application is expected to hold a significant share of the agricultural robots market during the forecast period. With further growth in the adoption of driverless tractors for automating field farming applications, the market for driverless tractors is expected to overtake the market for milking robots by 2023. The milking robots market is reaching maturity as they are already commercialized. Therefore, it will have the slowest growth, leading to dairy & livestock management applications experiencing slow growth than other farming applications.

The Asia Pacific is expected to grow at the highest rate

The APAC region is expected to witness the highest growth during the forecast period, owing to increasing government initiatives to adopt modern technologies and a rise in awareness among farmers. The region has witnessed an emerging demand for automation since farming is one of the important sectors in Asian countries including, China, Japan, India, Vietnam, and South Korea. The adoption of agricultural robots—especially drones—is expected to grow at a high rate in APAC as this region consists of technologically-advanced countries, such as China, South Korea, Thailand, and other countries in Southeast Asia. Developed countries in APAC, for instance, Japan, are focusing more on driverless tractors. The rapidly increasing population, availability of arable farms, and government support through subsidies are the major factors driving the adoption of agricultural robots in APAC.

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Major players in the Agricultural Robots market include Deere & Company (US), DJI (China), CNH Industrial NV (UK), AGCO Corporation (US), DeLaval (Sweden), Trimble Inc. (US), BouMatic Robotics (The Netherlands), Lely (The Netherlands), AgJunction (US), AgEagle Aerial Systems (US), YANMAR Co. (Japan), Deepfield Robotics (Germany), ecoRobotix (Switzerland), Harvest Automation (US), Naïo Technologies (France), ROBOTICS PLUS (New Zealand), KUBOTA Corporation (Japan), HARVEST CROO (US), Autonomous Tractor Corporation (US), Clearpath Robotics (Canada), DroneDeploy (US), Agrobot (Spain), FFRobotics (Israel), Fullwood Packo (UK), and Monarch Tractor (US) among others.

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