South Korea Agriculture Robots Market is expected to reach USD 290.32 million by 2030

Technological advancements and labor shortages in South Korea are driving up demand for the agriculture robots market during the forecast period.

South Korea Agriculture Robots Market is valued at USD 70.31 million in 2022 and is expected to reach USD 290.32 million by 2030, with a CAGR of 18.2% from 2023 to 2030, according to new research by Next Move Strategy Consulting.

South Korea's agricultural industry has undergone considerable development from traditional agriculture to smart agriculture. The gross domestic product (GDP) from the agriculture, forestry, and fishery kept a steady level throughout the years and accounted for roughly 1.75% of the total GDP. The growth of automation technology in agriculture is driven by the increasing demand for food, due to the growing population and changing consumer preferences. This has put pressure on the agriculture industry to increase productivity and efficiency. For example, in August 2021, South Korea has localized a milking machine that uses a robot arm to autonomously extract milk, thus reducing burden off old dairy farmers. Thus, it is expected to create significant growth of the market within the country.

However, the substantial upfront expenses related to acquiring and adopting agriculture robots can present a notable obstacle. The initial investment needed to procure robotic equipment, incorporate it into existing farming practices, and train personnel can be financially challenging for numerous farmers, particularly those operating on a smaller scale or with limited resources.

On the contrary, the agricultural industry in South Korea is poised to benefit from major technological advancements such as artificial intelligence (AI), machine learning, and robots. As technology continues to evolve, agricultural robots in South Korea may become more complex, intelligent, and capable of performing a wider range of tasks with greater accuracy and efficiency. These advancements are expected to create ample opportunities for the agricultural robots market in the country.

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According to the report, leading players in the South Korea agriculture robots market include Doosan Robotics, LG CNS, Samsung Techwin, Shinhan Robot, Woojin Robot, Yokogawa Electric, ZMP, Aerofarms, Kigo, and FarmWise.

Key Insights from the South Korea Agriculture Robots Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the South Korea agriculture robots market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the South Korea agriculture robots market is provided in the report along with their competitive analysis.

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