Thailand Agriculture Robots Market is expected to reach USD 217.74 million by 2030
Overcoming labor shortages with agriculture robots in Thailand, along with government initiatives are driving up demand for the agriculture robots market during the forecast period.
Thailand Agriculture Robots Market is valued at USD 42.24 million in 2022 and is expected to reach USD 217.74 million by 2030, with a CAGR of 21.5% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
Thailand, like many other countries, is facing a shortage of agricultural labor. Younger generations are migrating to urban areas, leaving a void in the farming workforce. Agriculture robots offer a solution to mitigate the impact of labor shortages by automating labor-intensive tasks, reducing dependency on manual labor, and ensuring uninterrupted farming operations.
For instance, in November 2022, Yanmar S.P. Company Limited and Yanmar Agribusiness Corporation Limited have joined in a project to adopt high-precision positioning technology for agricultural machinery in Thailand
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 Thailand 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 Thailand 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 Thailand agriculture robots market include Amara Raja Technology, Siam Robotics, Nimble Robotics, HAI Robotics, Agrobotix, Blue River Technology, Vision Robotics, CropIn Technologies, FarmBot, and Iron Ox
Key Insights from the Thailand Agriculture Robots Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Thailand 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 Thailand agriculture robots market is provided in the report along with their competitive analysis.