Agricultural Robots Market by Applications (Animal Management, Soil Management, Crop Management, Field Farming, and Dairy Management), Products (Driverless Tractor, Milking Robots, Materials Management, and UAV), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The global agricultural robots market size was valued at USD 2.87 billion in 2020 and is expected to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand for electronic technologies such as the global positioning system (GPS) and the geographic information system (GIS) for agricultural purposes.

Agricultural robots can be described as automated and advanced technology-based machines that are widely used for increasing the yield of agricultural practices. The rapidly increasing number of the global population has pushed to boost the demand for strong food supply chain and the trend of optimizing agricultural resources in a sustainable manner is a key aspect for effective production of crops. Therefore, farmers are increasingly using precision agriculture equipment and automated devices to collect and interpret data, which helps them make better decisions about fertilizing, planting, and harvesting crops. Weed management, environmental monitoring, cloud seeding, seed sowing, and soil analysis are just some of the emerging agricultural applications for robots or drones. The technology offers enormous promise for increasing crop yields and revenues as well as resolving food and water shortages. The rapid integration of Internet of Things (IoT) has completely transformed the agriculture industry, which relies heavily on technology, engineering, and physical and biological sciences.

The outbreak of COVID-19 pandemic had affected the market due to delay in the production of these machines and massive disruption in the global supply chain of the agricultural products. The main reason for the current slowdown in agricultural robot spending is farmers' inability to access their production due to effective handling of operational and logistical constraints.

Market Trends, Drivers, Restraints, and Opportunities

• Wide popularity of precision farming and increasing demand for crop management strategy that incorporates Big Data and GPS are driving the market growth.
• Massive requirement to monitor crop health for yield production and favorable government assistance for the use of advanced agricultural practices are key factors boosting market expansion.
• Farmers have been compelled to utilize a cost-effective strategy for enhancing production due to rising labor wages and untrained workforce, which is anticipated to influence the market growth during the forecast period.
• Requirement of a large initial capital commitment for implementation of the new technology and lack of awareness about the products benefits among farmers are major challenges that can hinder the market growth.
• Rising utilization of multimodal or heterogeneous platforms, which integrate ground and aerial vehicles is creating lucrative opportunities for the market expansion.

Scope of the Report

The report on the global agricultural robots market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Dairy management segment to expand at a considerable CAGR

On the basis of applications, the agricultural robots market is segmented into animal management, soil management, crop management, field farming, and dairy management. The dairy management segment is projected to expand at a considerable CAGR during the forecast period owing to rising demand for dairy products and expansion in the production of milk-based products. On the other hand, the soil management segment is anticipated to account for a major market share during the forecast period owing to the increasing use of mobile field robots for weeding and fertilizing. Moreover, crop management software is primarily used on medium to small farms and in horticulture.

Milking robots segment to hold significant share of the market

In terms of products, the market is divided into driverless tractor, milking robots, materials management, and UAV. The milking robots segment is expected to hold significant share of the market as it aids in the extraction of milk from an animal. However, the driverless tractor segment is projected to account for a large market share as seeding, planting, and cultivation are all capabilities of autonomous tractors in row and broad acre crop farming.

North America is anticipated to constitute a key market share

In terms of regions, the agricultural robots market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the consumers' excellent adaptability to new technology. However, the market of Europe is anticipated to expand at a rapid pace during the forecast period due to the growing use of venture capital and the increasing industrialization of agriculture in the region.

Segments

Segments Covered in the Report

The global agricultural robots market has been segmented on the basis of

Applications

• Animal Management
• Soil Management
• Crop Management
• Field Farming
• Dairy Management

Products

• Driverless Tractor
• Milking Robots
• Materials Management
• UAV

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• AGCO Corporation
• Autonomous Solutions, Inc.
• BouMatic Robotics B.V.
• Agribotix LLC

Competitive Landscape

Key players competing in the global agricultural robots market are AGCO Corporation; Autonomous Solutions, Inc.; BouMatic Robotics B.V.; and Agribotix LLC. Licensing of technologies and vertical integration are two common tactics pursued by the market players to strengthen their market position.