The agricultural robots market is expected to grow from $2.75 billion in 2016 and is expected to reach $12.8 billion by 2022, at a compound annual growth rate (CAGR) of 20.71% between 2017 and 2022, according to a new report by MarketsandMarkets.
The increasing focus on farm efficiency and productivity and increasing global demand for food are some of the significant drivers for the growth of the agricultural robots market.
Hardware. The hardware component is expected to hold the largest share of the agricultural robots market between 2017 and 2022. The hardware components include automation and control systems, and sensing and monitoring systems. Automation and control systems such as global positioning system (GPS) receivers, guidance and steering devices, and variable rate technology (VRT) devices form a major part of the agricultural robots market. These hardware components have the largest share of the overall agricultural robots market owing to their extensive use in field farming technologies.
Weather forecasting. Weather tracking is one of the important parameters in agriculture as this application facilitates up-to-date information on prevailing climatic conditions, such as temperature, rain, wind speed and direction, and solar radiation. There are various kinds of devices used for this application, which include handheld instruments and on-field weather stations. Weather tracking helps in taking decisions before severe and potentially dangerous climatic conditions occur, thereby protecting a farmer’s family or business.
North and South America. The Americas held the largest share of the agriculture robot market in 2016. This growth is attributed to the increased industrialization of farming equipment with the need for improved efficiency and productivity to meet the global demand for food. Efficient farming requirements, high production accuracy, and increased use of farm management software are some of the factors for the growth of the agricultural robots market in the Americas.
Major players in the agricultural robots market mentioned in the report include Deere & Company (U.S.), Trimble Inc. (U.S.), AgJunction Inc. (U.S.) and AGCO Corporation (U.S.).
The report is titled “Agricultural Robots Market by Type (UAVs, Milking Robots, Harvesting Systems, Driverless Tractors), Offering (Hardware-Automation & Control System, Sensor & Monitoring Device; Software; Services), Application, and Geography — Global Forecast to 2022.”
The report includes 203 pages, including 79 market data tables and 79 figures, with an in-depth table of contents.
A PDF brochure on the report is available.