Best Read 2020: Agricultural Robots and Drones Market: Transforming the Future of Agriculture Industry
In the year 2019, the market was valued at approximately USD 4.04 Billion, 2019 and is expected to be valued over USD 13.58 Billion by 2026. On the basis of the equipment segment, the UAV's segment is expected to exhibit the highest growth rate in the global agriculture robots and drones market during the forecast period. The North America region is expected to be the largest revenue-generating region for agricultural robots and drones over the forecast period. The European market is also expected to contribute heavily to the global agricultural robots and drones market.
An agricultural robot also referred to agri-robot, is a robot designed and deployed for agricultural purposes. Agriculture robots automate the farming process which is repetitive and time-consuming. Agriculture drones are unmanned aerial vehicles operated by controllers over the farmland. Agricultural robots and drones are used in agricultural applications like spraying fertilizer and pesticides, cloud seeding, planting seeds, harvesting, crop growth, and farmland monitoring as well as soil analysis.
According to Facts and Factors, the global agricultural robots and drones market in 2019 was approximately USD 4.04 Billion. The market is expected to grow above a CAGR of 18.9% and is anticipated to reach over USD 13.58 Billion by 2026.
The agricultural sector across the globe is experiencing transition by replacing and changing the traditional framing processes and equipment. The implementation of automated farming equipment like agriculture drones and robots is facilitating the farming business for earning greater profits by adding analytical decision methods and autonomous operations.
The emergence and adoption of automation in the agricultural sector are primarily driven by factors that include depleting resources like arable land, underground water, growing demand for global food production, and a rising dearth of manned labor in agriculture. With many governments investing in supporting farmers by providing incentives, good crop prices, and developed supply chains, the agriculture industry is expected to continue the growth trajectory. In addition to the above initiative, governments are also investing in farming technologies that are intended to improve farming efficiency and profit. This has led to rising research and development of automated farming systems like drones and robots. Additionally, the private players operating in the farming technology business are providing customized services to the farmers by providing technology deployment assistance and compatibility analysis for benefitting the farmers. Owing to the above developments, agriculture drones and robots are projected to replace traditional farming methods and requirements, which in turn is expected to catalyze the growth in demand for the agriculture robot and drones market.
The UAV segment is expected to grow at the highest CAGR during the forecast period. The segment possesses a high potential for growth owing to the increasing application of field monitoring and spraying pesticides, fertilizers. Additionally, the cost of the UAVs is comparatively low as compared to other robotic systems used for similar purposes. The field farming segment is expected to grow at the highest CAGR owing to the penetration of autonomous robots and auto-steering systems. These systems have seen increased deployment in the large farm produce such as sugarcane and corn.
The North America region is expected to continue dominance over the forecast period. The region is also expected to exhibit the highest growth during the studied timeline. The primary factors for the dominance of the region have been the rising number of farmers adopting automated systems in the fields. The robotic harvesting equipment is gaining faster traction in the region especially the United States. The European region is expected to remain the second-largest revenue-generating region.
Top Market Players
Major players operating in the global agricultural robots and drones market covered in this report include Deepfield Robotics, Tractor Corporation, AgJunction, DJI, Trimble, YANMAR CO., Boumatic, Topon, AGCO Corporation, AgEagle Deere & Company, Aerial Systems, ecoRoborix, DeLaval, Naïo Technologies, Lely, CNH INDUSTRIAL N.V., HARVEST CROO, KUBOTA Corporation, ROBOTICS PLUS, Abundant Robotics, Autonomous Iron Ox, lHarvest Automation, AG Leader Technology and Clearpath Robotics.
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