February 23, 2024
Agriculture Robots Market

The Global Agriculture Robots Market Growth Is Projected To Propelled By Changing Farming Practices

Agriculture robots, also known as agribots, are robotic machines that assist farmers in performing various farming tasks like planting seeds, monitoring crop growth, harvesting crops and milking cows. Agribots help in increasing crop yields and improving productivity by automating labor-intensive and repetitive agricultural processes. The growing demand for food due to the rising global population and shortages of farm labor have increased the need for automation and mechanization in agriculture.

The global Agriculture Robots Market is estimated to be valued at US$ 15.26 Mn  in 2024 and is expected to exhibit a CAGR of 6.5%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trends driving the growth of the agriculture robots market is the adoption of precision farming techniques. Precision farming utilizes big data analytics, IoT devices and robots to collect field data and gain insights about soil health, moisture levels and crop growth patterns. This data is then analyzed to increase productivity through targeted application of seeds, fertilizers, pesticides and water. Precision farming helps reduce waste, optimize inputs and increase yields. Growing adoption of precision farming techniques is expected to fuel demand for agribots that assist in crop monitoring and analysis tasks. This increases efficiency and sustainable cultivation practices.

SWOT Analysis

Strength: Agriculture robots have the ability to perform tasks more efficiently than manual labor. They can work continuously without rest which increases productivity on farms.

Weakness: High initial investment costs involved in purchasing agriculture robots. They also require technical expertise for operation and maintenance which may not be easily available.

Opportunity: Growing demand for food due to rising population presents an opportunity for use of automation in agriculture to boost farm yields. Advancements in technologies like AI and machine learning can further enhance functionality of agriculture robots.

Threats: Resistance from farm workers about job losses due to increased mechanization. Interoperability issues as agriculture robots need to interact with other farm equipment smoothly.

Key Takeaways

The global Agriculture Robots Market Growth is expected to witness high growth. The global Agriculture Robots Market is estimated to be valued at US$ 15.26 Mn  in 2024 and is expected to exhibit a CAGR of 6.5%  over the forecast period 2024 to 2031.

Regional analysis comprises Asia Pacific region dominates the market currently due to rising farm mechanization in countries like China and India. Southeast Asian countries are also rapidly adopting agriculture robots.

Key players operating in the Agriculture Robots market are BASF SE, Eastman Chemical Company, Merck KGaA, Evonik Industries AG, Tokyo Chemical Industry Co., Ltd., Alfa Aesar, TCI America, MP Biomedicals, Santa Cruz Biotechnology, Inc., Energy Chemical. Precision farming and development of versatile multi-function robots is the focus of major players. Partnerships between technology companies and tractor manufacturers will further drive innovations.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it