Agriculture robots are autonomous machines that carry out agricultural tasks with minimal human intervention. Commonly used agriculture robots include harvesting robots, milking robots, indoor farming robots, and drones. Harvesting robots are mainly used to harvest high-value crops like fruits and vegetables. Milking robots are gaining popularity in dairy farms as they provide more consistent milking compared to traditional techniques. Indoor farming robots are increasingly being adopted for vertical farming in controlled environments. Agricultural drones are being deployed for tasks like crop sensing,field mapping, and spraying pesticides and fertilizers.
The global agriculture robots market is estimated to be valued at US$ 13.24 billion in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The increasing labor costs and shortage of farm workers are expected to drive the demand for automation in agricultural activities. Agriculture robots help improve productivity and consistency on farms while reducing dependency on human labor.
Market Dynamics
The rising demand for automation in agriculture and focus on precision farming are expected to drive the growth of the agriculture robots market over the forecast period. Precision farming techniques use robots, sensors, telemetry, and software to help farmers optimize field operations. Agriculture robots improve productivity, reduce input costs, enhance crop quality, and maximize yield potential through automated operations. Furthermore, agriculture robots help overcome challenges of labor shortage faced by farmers globally. Government initiatives in major countries to support adoption of modern agricultural equipment and promote precision farming will also contribute to the market growth. However, high initial investment requirement for agriculture robots remains a major challenge, especially for smallholder farms in developing nations.
Segment Analysis
The global agriculture robots market is dominated by the autonomous tractors segment, which holds around 33% of the total market share. Autonomous tractors are equipped with cameras, sensors, GPS and other advanced technologies to perform tasks independently without human intervention. They offer benefits such as reduced operational costs, improved crop quality and yield through precision agriculture. The autonomous tractors segment is expected to witness strong growth during the forecast period due to increasing focus on farm mechanization.
PEST Analysis
Political: Governments across countries are promoting the adoption of agricultural robots and precision farming through subsidies and funding. For instance, the US government provides subsidies up to 15% on the purchase of agriculture robots.
Economic: Rising labor costs and shortage of farm labor is encouraging farmers to invest in agriculture robots for automation. Agriculture robots help boost farm productivity and profitability through optimum utilization of resources.
Social: Younger generations are less interested in careers in farming due to tedious and labor-intensive nature of work. Agriculture robots can help address this issue by reducing dependency on manual labor.
Technological: Advancements in robotics, IoT, artificial intelligence and computer vision are driving innovation in agriculture robots. Sensors, drones and autonomous machines equipped with latest technologies are being developed to automate complex agriculture tasks.
Key Takeaways
The Global Agriculture Robots Market Size is expected to reach US$ 13.24 billion by 2023, expanding at a CAGR of 6.5% during the forecast period. Autonomous tractors dominate the market with a share of around 33%, driven by benefits such as reduced costs and improved yields.
Regionally, North America leads and is expected to continue its dominance during the forecast period, supported by advanced agricultural technologies and government initiatives in countries like the US.
Key players operating in the agriculture robots market are BASF SE, Eastman Chemical Company, Merck KGaA, Evonik Industries AG, Tokyo Chemical Industry Co., Ltd., Alfa Aesar, TCI America, MP Biomedicals, Santa Cruz Biotechnology, Inc. Key players are focused on developing sophisticated robotics and AI-based solutions to automate agriculture tasks and operations for higher productivity and yields.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
