Agriculture Robots Market - Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 05/15/2019 -- Agriculture Robots Market (Application - Agricultural Inventory Management, Weather Tracking and Forecasting, Pruning Management, Spraying, Irrigation Management, Dairy Farm Management, Field Mapping, Harvesting Management, and Soil Management Robots ; Type - Spraying Robots, Automated Harvesting Systems, Milking Robots, Drones/ Unmanned Aerial Vehicles (UAVs),and Driverless Tractors) – Global Industry, Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
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Prominent key players in the global agriculture robots market are Clearpath Robotics, Naio Technologies, PrecisionHawk, Inc., Harvest Automation, Inc., and SenseFly SA.
The global agriculture robots market is anticipated to expand at a CAGR of 24.1% within the forecast period of 2016 to 2024. Previously, the market was valued at US$1.01 bn at the end of 2016, in terms of revenue. By the end of the forecast period, the valuation is anticipated to be a worth of US$5.7 bn in terms of the overall revenue share of the market.
The global agriculture market is anticipated to be intensified in the years to come owing to the entry of new vendors in the market with highly advanced data technological solutions for automate machines. The competitive landscape of the market of agriculture robots is widely diverse. The market is also distinguished by the geographical dominance of leading players. Population growth and rising demand for food is also generating the need to enhance agricultural productivity. The agricultural lands have remained stagnant and so did the productivity, hence in order to maintain a constant food supply for the booming population, agriculture robot market is expected to go high in demand in the years to come.
In developed nations like the U.S., there has been a shift in the statistics of young population who opted for farming. The population of farmers were left to a negligible number. Thus, with the introduction of robots into the agricultural sector, it has been easier to yield more crops with less time and more effort. The need for using less chemicals and fertilizers for optimization of jobs like pick-and-place, weeding and spraying has increased the demand for agricultural robots in the market. Apart from that, workforce decline in case of potentially dangerous farm jobs especially weeding of lettuce, has replaced human labor and propelled the market for agriculture robots in the years to come.
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The rising demand for food with the rising population around the world is expected to encourage the growth of the agriculture robots market in the next few years.
Developing economies to hold immense growth opportunities for the market players, which will support the growth of the market in the near future.
The global agriculture robots market has been segmented as below:
Global Agriculture Robots Market, by Type
Automated Harvesting Machine
Global Agriculture Robots Market, by Application