(MENAFN- Comserve)
Shibuya-ku, Tokyo, Japan, Japan, Jul 04, 2022, 07:19 /Comserve / -- Agricultural robots market share is estimated to rise with a CAGR of 19.2% by generating a revenue of $16,640.4 million by 2031
Agricultural robots market share is estimated to rise with a CAGR of 19.2% by generating a revenue of $16,640.4 million by 2031.
Market Definition:
Agricultural robot is the most developed machines which are used for the farming purpose. These robots are entirely automated which decreases the time of the work and decrease the manual workforce during the work performed in the field. These machine have the ability to perform the work what the normal worker can perform. It can be operated in all the restricted environment, climatic situations and in various farms as well as animal farms.
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Market Drivers:
Rising vertical farming, rising population and increase in the demand for the food supply is predicted to boost the agricultural robot market . The vertical farming is considered to be the advanced level of farming techniques. Vertical farming is practice of farming crops in a vertically way with arranged layers. The vertical farming helps the farmer to grow organic crop though out the year with the minimum use of the water and land. With the help of advanced technologies, the vertical farming accounts for the maximum output with huge production. The world population is increasing at a higher rate and as the population increase the supply of food will also increase simultaneously. By using the advanced machines and robots the production of crop will increase at a faster rate as with the help of the robot's, farm work can be done at a faster rate and cultivate the farms with a minimum time.
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Market Restraints:
The cost of the robot's is one of the main restrains for the agricultural robot market. The cost at which the robots are offers are very high and it gets difficult for the farmers to afford those machines due to which it affects the market adversely. For using these machine one need to understand about the machine, the machines are way complicated and complex in using. If the farmer mishandles the machines, then it might cause the farmer to face a lot of consequences.
Agricultural Robot Market, by Type:
Based on the type the market is bifurcated into Automated Harvest Robots, Driverless Tractors, Unmanned Aerial Vehicles (UAVs), Material Management, Milking Robots and Others. Unmanned Aerial Vehicles is expected to have the maximum growth rate in the segment. It is expected to reach $ 1,763.9 million by 2031 with a CAGR of 20.1. with the help of unmanned aerial vehicles, the work in the agriculture land get easier and a farmer can have a clear check on the growth of the crop in an aerial view. Many task can be performed with effective utility and high affordability in the monitoring and spraying.
Agricultural Robot Market, by application:
Based on the application the market is bifurcated into Irrigation Management, Dairy Management, Soil Management, Inventory Management, Harvest Management, and others. Diary management is considered to have the highest agricultural robot market share. Diary management is expected to reach $4,492.9 million by 2031 by generating a CAGR of 19.0%.
Dairy farm includes availability of water, veterinary aid, and information on land, breeding facilities and many more. It covers all the aspects of the farming and is one of the most important source of income for the marginal and small farmers. With the use of advanced technology, the work can be done at the faster rate and can cultivate at the earliest.
Agricultural Robot Market, by Region:
North America is considered to be the highest share in using the robotic farming. North America was valued at $1,469.8 million in 2018 and is projected to grow at a CAGR of 18.9%. Due to the rise in the usage of automation products and rising population among the region is expected to drive the agricultural robot market. Asia-Pacific accounts for the highest growth rate for the agricultural robot industry. Asia-Pacific market size was $898.2 million in 2018 and is projected to grow with a CAGR of 19.7%. The region accounts for the increase in the farming activities and the government initiate towards the subsidies are expected to drive the market for this region.
Key participants in Agricultural Robot Market
Main players in the agricultural robot market trends are John Deere, GEA Group, Deepfield Robotics, Autonomous Tractor Corporation, AGCO, Autonomous Solutions Inc, DeLaval, Clearpath Robotics and LelyHarvest Automation among others.
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