The agricultural robots market, in terms of value, is expected to grow from USD 2.75 Billion in 2016 to USD 12.80 Billion by 2022, at a CAGR of 20.71% between 2017 and 2022.
Pune, Maharashtra -- (SBWIRE) -- 03/22/2017 -- The Agricultural Robots Market is expected to grow from USD 2.75 billion in 2016 and is expected to reach USD 12.80 billion by 2022, at a CAGR of 20.71% between 2017 and 2022. Agricultural robot involves technology-driven information analysis of data acquired from the field and application of input as per the data analysis for increasing crop productivity. Agricultural robot has revolutionized the method employed for crop production in the agriculture farm. People across the world would adopt robots for agricultural purposes at an increasing rate. The major restraining factor for the agricultural robots market is the high initial investment and the lack of technical awareness among farmers.
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Harvesting is the most widely used application in agricultural robots as it plays a vital role in
understanding field variability and helps farmers in maximizing their yields. Increasing labor cost is motivating farm owners to adopt automated harvesting system. Automated harvesting management held the largest market share among all applications due to the high adoption rate of harvesting robots.
Asia-Pacific (APAC) is one of the bright prospective markets in agricultural robots. APAC has large farmlands and a high population growth rate. APAC has a huge regional spread, which comprises countries such as China, Japan, India, Australia, South Korea, and Rest of APAC. The agricultural robots market in APAC is in its initial stages of adoption and expected to grow with a double-digit rate between 2017 and 2022. In APAC, specifically India, Australia, China, and Japan, currently have the highest growth rate and highest share in the agricultural robots market.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key experts. The breakup of the profiles of primary participants is as follows:
- By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 –25%
- By Designation: C-Level Executives – 75% and Managers – 25%
- By Geography: Americas – 40%, Europe – 30%, APAC – 20%, and RoW – 10%
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Companies that provide a range of customized solutions to customers are expected to emerge as the game changers.
The key players in the agricultural robots market profiled in the report are as follows:
- Deere & Company (U.S.)
- Trimble, Inc. (U.S.)
- AGCO Corporation (U.S.)
- DJI (China)
- BouMatic Robotics, B.V. (Netherlands)
- AgJunction, Inc. (U.S.)
- AG Leader Technology (U.S.)
- AG Eagle LLC (U.S.)
- Topcon Positioning Systems, Inc. (U.S.)
- Lely Holding S.A.R.L(Netherlands)
- Agribotix LLC (U.S.)
- AutoCopter Corp (U.S.)
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