Growing urbanization is leading to a shortage of farm labor, which is rising the focus towards robotics to replace laborers in farming. For instance, in Brazil farm jobs have decreased from 12.6% of all jobs in 2010 to 9.1% in 2020. Government support for farm mechanization, growing population around the world which is rising the need for food, and new product launches in the market are fueling the demand for robotics in agriculture in the market. For instance, in April 2019, Trimble (US) launched the Farmer Core software that integrates machine-generated data to simplify setup and streamline operations for various farming activities. This was an entry-level software subscription, which was accessible to farmers. Also,
according to Statista, the population of China has increased from 1395.38 million in 2018 to 1411.78 million in 2020 and is anticipated to reach 1419.03 million by 2026. Furthermore, growing investment in Agtech startups and integration of innovative technology such as Artificial Intelligence and Machine Learning is expected to fuel the demand in coming years. Such venture capital investment in German Agtech startups has increased from USD 13 million in 2017 to USD 113 million approximately in 2019. However, the higher cost of robotics in agriculture and concern related to data security may hinder the growth during the forecast period.
Global Robotics in Agriculture Market is valued approximately at USD 4616 million in 2020 and is anticipated to grow with a healthy growth rate of more than 34.62% over the forecast period 2021-2027 and is estimated to reach USD 36990 million by 2027.
In regional analysis, among the Asia Pacific, North America, Europe, Latin America, and the Rest of the World, North America is the dominating region across the world in terms of revenue due to the shortage of farm labor and growing automation in agriculture. Whereas, the Asia Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to rising demand for food owing to rising population and government support for farm mechanization.
Major market players included in this report are AGCO Corporation, Autonomous Solutions Inc., Autonomous Tractor Corporation, Clearpath Robotics, Deepfield Robotics, DeLaval, GEA Group, Harvest Automation, John Deere, and Lely
The detailed segments and sub-segment of the market are explained below:
By Type: Driverless Tractors, Unmanned Aerial Vehicles (UAVs), Milking Robots, Automated Harvest Robots, Material Management, Others
By Application: Dairy Management, Irrigation Management, Harvest Management, Soil Management, Inventory Management, Others
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