Agricultural Robot Market Definition And Segments
An agricultural robot, or agribot, is a robotic device designed for use in the agriculture industry to improve agricultural processes by automating tasks that are slow, labor-intensive, or dangerous for humans. These robots aim to increase efficiency, reduce manual labor reliance, and help farmers meet the growing global demand for sustainable food production.
The main offerings of agricultural robots are hardware, software, and services. Hardware refers to the physical components of a computer system or any electronic device. These are used in various types of farming environments, such as indoor and outdoor, for several applications, including harvest management, field farming, dairy and livestock management, irrigation management, pruning management, weather tracking and monitoring, inventory management, and others.
The agricultural robot market covered in this report is segmented –
1) By Offering: Hardware, Software, Service
2) By Farming Environment: Indoor, Outdoor
3) By Application: Harvest Management, Field Farming, Dairy And Livestock Management, Irrigation Management, Pruning Management, Weather Tracking and Monitoring, Inventory Management, Other Applications
The agricultural robot market size has grown exponentially in recent years. It will grow from $14.26 billion in 2023 to $17.5 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to labor shortages in agriculture, precision agriculture adoption, rising demand for food production, government support and subsidies, farm mechanization trends.
The agricultural robot market size is expected to see exponential growth in the next few years. It will grow to $39.28 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%. The growth in the forecast period can be attributed to advanced ai and machine learning integration, customization for different crops, climate change adaptation, autonomous fleets and swarm robotics, integration with farm management software. Major trends in the forecast period include remote sensing and imaging advancements, early innovations and pilot projects, advancements in sensor technologies, data-driven farming, robotics in crop monitoring.
Precision Farming Surge Propels Agricultural Robot Market Growth
The rise in precision farming is expected to propel the growth of the agricultural robot market going forward. Precision farming is a farming management strategy based on observing, measuring, and responding to temporal and spatial variability to improve agricultural production sustainability. Agricultural robots contribute to precision farming by increasing efficiency, reducing labor costs, and enabling consistent and precise farming practices. For instance, in October 2023, according to an article published by IOWA State University, a US-based university, 66% of farmers used global positioning system (GPS) yield monitors or maps, demonstrating the increasing use of precision agriculture technologies. Therefore, the rise in precision farming is driving the growth of the agricultural robot market.
Fulfilling Food Demands The Role of Agricultural Robots In Meeting Global Challenges
The high demand for food is expected to propel the growth of the agricultural robot market in the coming years. Food is defined as any material ingested by a living being for nutritional and energetic purposes. Agricultural robots address high food demand by improving efficiency in cultivation, harvesting, and precision agriculture, ultimately boosting agricultural production to satisfy rising global food demands. Their automated capabilities improve efficiency, minimize worker reliance, and promote sustainable agricultural techniques. For instance, in July 2023, according to the State of Food Security and Nutrition, an annual report released by the Food and Agriculture Organization, an Italy-based specialized agency of the United Nations, between 691 and 783 million people suffered starvation in 2022, with a mid-range of 735 million, indicating a 122 million increase compared to the last three years. Therefore, the high demand for food is driving the agricultural robot market.
Major companies operating in the agricultural robot market report are Deere & Company, Yamaha Motor Co. Ltd., AGCO Corporation, Trimble Inc., RheinEnergie AG, Carbon Robotics, BouMatic Robots BV, Nova-Tech Engineering, Autonomous Solutions Inc., Clearpath Inc., CNH Industrial N.V., AeroFarms, PrecisionHawk, AgEagle Aerial Systems, Monarch Tractor, Tevel Aerobotics Technologies, Harvest Automation Inc., Agrointelli, Kind Technologies, Abundant Robotics, Demaitere B.V., Naio Technologies, Auroras s.r.l., Blue River Technology Inc., Agribotix LLC, Aigen Inc., PeK Automotive d.o.o, 3D.aero GmbH, FarmDroid, Deepfield Robotics
High Initial Investment Costs Impact The Agricultural Robot Market Growth
High initial investment costs for agricultural robots are restraining the growth of the agricultural robot market. High initial investment prices for agricultural robots can inhibit widespread adoption, restrict access for small farmers and reduce overall industry growth. High initial investment prices for agricultural robots are a significant barrier to broad adoption, particularly among small-scale farmers. This financial barrier could impede the development of agricultural robot sales, underscoring the need for promotions, subsidies, or breakthroughs in cost-effective technology to improve accessibility and promote industry expansion. For instance, in July 2023, according to howtorobot.com, a Denmark-based automation marketplace, weeding robots may cost anywhere from $50,000 to $250,000+, making them a hefty investment. Therefore, the high initial investment costs for agricultural robots restrain the agricultural robot market.
Unveils Electric And Autonomous Robot For Sustainable Farming Solutions
Major companies in the agricultural robot market are focused on technological advancements such as electric and autonomous robots to provide high-precision weeding and guidance for implements. An electric and autonomous robot is a robot that can move around on its own and accomplish complex objectives without human intervention or being permanently plugged into an electrical source. For instance, in February 2022, Naio Technologies, a France-based robotic manufacturing company, launched a new agricultural robot called Orio. Orio is a multi-crop, multi-task robot that offers a sustainable alternative to the use of herbicides, respects soils, improves working conditions, and collects data for smart farming. It is a light, electric, and autonomous robot equipped with GPS and camera guidance, multiple sensors, and an algorithm based on artificial intelligence. The company offers Orio as a Robots as a Service (RaaS) model, allowing growers to benefit from in-row and intra-row weeding of vegetables and leafy greens, as well as precision seeding and fertilizing.
Tertill And Harvest Automation Join Forces To Pioneer Low-Cost 'Farm Tough' Robotics In Agrobotics Industry
In June 2023, Tertill, a US-based developer of a solar-powered weeding robot for home gardens, merged with Harvest Automation for an undisclosed amount. With this merger, both companies will bring their engineering teams and product portfolios together, focusing on the development of low-cost 'farm tough' robots and expanding their presence in the agrobotics industry. Harvest Automation is a US-based agricultural robot manufacturer that offers small, mobile material handling robots for nursery, greenhouse, and eCommerce fulfillment applications.
North America was the largest region in the agricultural robot market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agricultural robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the agricultural robot market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The agricultural robot market includes revenues earned by entities by providing services such as automated harvesting and picking of crops, weed control, nursery automation, livestock management, crop monitoring, data collection, soil and environmental analysis, and inventory management in warehouses and farms. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The agricultural robot market consists of sales of driverless tractors, drones for crop monitoring and data collection, autonomous precision seeders, automated irrigation and harvesting systems, and milking dairy herds. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The agriculture robot market research report is one of a series of new reports from The Business Research Company that provides agriculture robot market statistics, including agriculture robot industry global market size, regional shares, competitors with a agriculture robot market share, detailed agriculture robot market segments, market trends and opportunities, and any further data you may need to thrive in the agriculture robot industry. This agriculture robot market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.