Agriculture Robots Market to Grow at 15.5% CAGR by 2030
Global Agriculture Robots Market is expected to reach USD 24 billion by 2030, with a CAGR of 15.5% from 2023 to 2030
There is an increasing demand for agribots in agriculture sector as it helps to reduce production cost such as cost of labor, weeding, spraying, and monitoring crops, and others.
According to a new research report by Next Move Strategy Consulting, the global Agriculture Robots Market was valued at USD 7.06 billion in 2022, and is expected to reach USD 24 billion by 2030, with a CAGR of 15.5% during the forecast period.
Agriculture robots can be used to reduce production cost as they can decrease the need for labor and eliminate cost of fertilizers. They can be used in various livestock applications, such as automatic milking, farm management, manure handling, and feeding animal. In addition, fertilizing and irrigating crops need a lot of water and increase the input cost of farmers. Thereby, robots are used to cut down fertilizing costs as they can reduce wastage of water and pour water directly at the base of each crop.
On the contrary, farmers’ low degree of technical understanding and awareness hinders market growth. However, the data generated by the agribots can be used to analyse crop performance, soil health, weather patterns, and other factors that affect crop growth to improve productivity. This creates ample growth opportunities in the coming future.
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According to the report, leading market players in the manufacturing of agriculture robots include Deere & Company, Agco, CNH Industrial, GEA Group, Delaval, Trimble, SZ DJI Technology Co. Ltd, Boumatic Robotics, Yanmar Holdings Co., Ltd, Naio Technologies, and many more.
Key Insights from the agriculture robots market Report:
The information related to key drivers, restraints, and opportunities and their impact on the agriculture robots market is provided in the report.
Value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the global agriculture robots market, along with their competitive analysis is provided in the report.