by Agriculture robots has transformed modern farming techniques and improved crop yield significantly. Agriculture robots perform variety of complex functions autonomously without human intervention to maximize agricultural production. They equip farmers with smart technologies for seeding, spraying, soil management, harvesting and sorting.
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.
Market key trends:
Automation has become a key trend in the agriculture robots market propelling its growth. Implementation of automation technology in farming has addressed issues of manpower shortage and increased operational efficiency. Agriculture robots aided with AI, IoT and other technologies can now perform complex agricultural tasks autonomously without human intervention. They offer precision in seeding, application of water and fertilizers, weeding, crop monitoring, harvesting and post-harvest sorting at low cost. Precision agriculture supported by robots and other smart technologies minimizes wastage, increases productivity and optimizes the use of resources. This has boosted uptake of various agricultural robotic solutions amongst farmers worldwide.
SWOT Analysis
Strength: Agriculture robots are equipped with advanced technologies like artificial intelligence, sensors, cameras and GPS that help increase productivity and reduce wastage. They provide precision farming and monitoring of crops 24/7.
Weakness: High initial investment costs of agricultural robots make them unaffordable for small and marginal farmers in developing countries. They also require technical experts for operations and maintenance.
Opportunity: growing demand for food due to rising global population offers opportunities for use of agricultural robots for round-the-clock farming. Development of affordable robots suitable for small farms can expand their market reach.
Threats: reluctance among traditional farmers to adopt new technologies is a challenge. Lack of infrastructure like internet connectivity in rural areas hinders use of robots equipped with IoT and wireless technologies.
Key Takeaways
The Global Agriculture Robots Market Growth is expected to witness high in the forecast period of 2023 to 2030. 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.
Regional analysis comprises – North America dominates the market currently due to large-scale farms and availability of resources to invest in advanced agricultural technologies. Asia Pacific is expected to grow at the fastest rate due to growing population, reducing farm sizes and government initiatives to promote precision farming.
Key players operating in the agriculture robots market are BASF SE, Eastman Chemical Company, Merck KGaA, Evonik Industries AG, Tokyo Chemical Industry Co., , td., Alfa Aesar, TCI America, MP Biomedicals, Santa Cruz Biotechnology, Inc., Energy Chemical. Affordable robots with customized solutions for different crops and terrains can help key players expand their market share. Collaboration with agro-input companies offering AI, sensors and automated hardware can support development of low-cost robot models.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
