(MENAFN- America News Hour)Kenneth Research has recently added a report titled Global Agriculture Robots market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Global Agriculture Robots market is further anticipated to grow with a CAGR of 21.1% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Global Agriculture Robots Market Overview
Agriculture robotics is a combination of advance sensing, mobility, navigation, computing and interaction technologies. This robotics is used for efficient and cost effective production of grains, vegetable, fruits and other agricultural products. Agriculture robotics is very advanced robotic technologies which include farmer robots that can perform various farming works such as cultivation and harvesting of vegetables, rice, fruits and others. Agriculture robots or agbots performs various works which are very difficult for humans to do. Use of robotics in agricultural sector has improved overall production and quality of the products. Soil monitoring, proper irrigation, precise weeding and design of cultivated field are some of the major areas on which agriculture robots work.
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Market Size & Forecast
Global agriculture robots market is anticipated to flourish at a compound annual growth rate (CAGR) of 21.1% over the forecast period 2017-2024. Global agriculture robot market stood at valuation of USD 3.2 Billion in 2016 and is expected to reach at a valuation more than USD 16.2 Billion by the end of 2024. Rising population coupled with increasing demand for food is the major factor fostering the growth of global agriculture robot market over the forecast period.
'Final Report will add the analysis of the impact of COVID-19 on this industry.'
Geographically, global agriculture robots market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. 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. In terms of share, Europe region is the second biggest market of agbots and is anticipated to witness a remarkable growth over the forecast period. Moreover, agriculture robots market in Asia Pacific region is anticipated to flourish at a compound annual growth rate (CAGR) of 11.2% over the forecast period. Population growth, reducing farmable land and rising demand for grains & vegetables are driving the growth of agriculture robots market in Asia Pacific region. Middle East & Africa and Latin America regions are also envisioned to witness a satisfactory growth over the forecast period.
Major Key Players
Agrobot
Energid
Clearpath Robotics
Autonomous Solution
Wageningen UR
Agritronics
Kinze Manufacturing
Harvest Automation
ISO Group
Helper Robotech
Blue River Technologies
Vision Robotics
Scope & Context
Growth Drivers & Challenges
Increasing population and rising demand for food, grains, vegetables and other agricultural products are some major factors driving the growth of global agriculture robots market. 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.
Agriculture robots offer various advantages over farming done by human such as harvesting and cultivation of complete land without any error. Due to internet access, they easily forecast weather conditions and work accordingly. Moreover, agriculture robots such as driverless tractors and Oz are some of very advanced agriculture robots which work without any human intervention. Availability of such advance agricultural robots is expected to grow the market of agricultural robots over the forecast period.
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. Development of advanced agriculture robots which are used for precise farming such as berry nice robot and others are expected to foster the growth of global agriculture robots market in near future.
However, 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.
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Market Segmentation
Our-in depth analysis of the global agriculture robots market includes the following segments:
By Product
Driverless Tractors
Milking Robots
Potato Sorting System
Unmanned Aerial Vehicles
Others
By Application
Field Farming
Soil Management
Crop Management
Grafting
Nursery Operations
Pruning
Thinning
Weeding
Others (Potting and others)
By Region
Global agriculture robots market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
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