Growth Strategy: Agriculture Robots Market to Hit USD 16.2 Billion end of 2024
Recent report published by research nester titled “Agriculture Robots Market: Global Demand Analysis & Opportunity Outlook 2024 ” delivers detailed overview of the global agriculture robots market in terms of market segmentation by product, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global agriculture robots market is segmented into product such driverless tractors, milking robots, potato sorting system, unmanned aerial vehicles and others. Among these segments, driverless tractors segment is expected to occupy the top position in agriculture robots market during the forecast period. Further, the driverless tractor is expected to observe a growth rate of 1.8x over the forecast period.
Global agriculture robots market is expected to flourish at a CAGR of 21.1% over the forecast period. Moreover, the global agriculture robots market is anticipated to showcase noteworthy revenue of USD 16.2 Billion by the end of 2024. Increasing utilization of robotic farming in arable land is project to hamper the growth of agriculture robots market during the forecast period.
In 2016, North America region is dominating the global agriculture robots market and has captured highest share among all regions. Agriculture robots market in North America region stood at a valuation of USD 225.5 Million in 2016. Further, North-America region is expected to continue its dominance over the forecast period on the account of the adoption of advanced robotics in agriculture sector.
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Europe stood second in terms of share and is expected to witness robust growth over the forecast period. Availability and increasing adoption of new method of cultivation is projected to witness the growth of the agriculture robots market in the Europe region.
Expansion of Agriculture Robot Market
Rising demand for new and advanced technology for the green farming across the globe is fuelling the growth of agriculture robots market. Moreover, rising adoption of agriculture robots in agriculture sector has improved the quality and quantity of production of grains, vegetables and fruits. Involvement of agriculture robots in agriculture sector has reduced the human intervention as well as human errors. Considering above factors, global agriculture robots market is expected to witness a robust growth in near future.
Government Regulations and Legislations
Government is encouraging the robotics machines such as driverless tractors, milking robots, potato sorting system, unmanned aerial vehicles and others for arable land for safety measures and taking active participation for investment purpose is driving the demand for agriculture robots market. Decreasing farmable land and ability of agriculture robots to produce satisfactory amount of grains, vegetables and fruits are some major drivers to the growth of global agriculture robots market.
In contrast, high cost of agriculture robots is a major challenge which is expected to restrain the growth of global agriculture robot over the forecast period. Apart from this, lack of knowledge about operation of agriculture robots among formers is likely to restrain the growth of agriculture robots market in near future.
This report also provides the existing competitive scenario of some of the key players of the global agriculture robots market which includes company profiling of Clearpath Robotics, Autonomous Solution, Wageningen UR, Agritronics, Kinze, Manufacturing, Harvest Automation, ISO Group, Helper Robotech, Blue River Technologies, Vision Robotics and various other key players.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global agriculture robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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This post was originally published on Aerospace Industry