Agriculture Autonomous Robot Market to Grow with a CAGR of 25.12% by 2028: BIS Research
Nov 28, 2023
Autonomous agricultural robots represent sophisticated systems engineered to carry out farming operations with minimal human involvement. Integrated with sensors and artificial intelligence, these robots undertake various tasks, including planting, weeding, harvesting, and crop monitoring.
The global agriculture autonomous robot market was valued at $828.4 million in 2022, and it is expected to grow with a CAGR of 25.12% during the forecast period (2023-2028) to reach $3,136.7 million by 2028.
The growth in the global agriculture autonomous robot market is expected to be driven by the increasing need for efficient and sustainable agriculture practices.
Market Analysis: Trends, Data, and Growth Projections
BIS Research,“Agriculture Autonomous Robots Market,” which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the agriculture autonomous robot market.
The detailed study is a compilation of 5 market data tables and 38 figures spread across 137 pages. The agriculture autonomous robots market report focuses on applications, products, and region segments.
Key Players and Market Shares
Significant demand for autonomous agricultural robots is anticipated in Europe, North America, and the Asia-Pacific region. The expected consolidation of small farms and the subsequent enlargement of average field sizes are likely to establish favorable circumstances for the widespread adoption of these robots in agriculture.
Some major companies operating in the global agriculture autonomous robot market are:
- GEA Group Aktiengesellschaft
- Deere & Company
- AGCO Corporation
- Robert Bosch GmbH
- Saga Robotics AS
- FarmWise Labs, Inc.
Market Drivers, Challenges, and Opportunities
Regulatory advancements, ongoing research, and collaboration between industry leaders are contributing factors in the growth of the agriculture autonomous robot market. The agriculture autonomous robot market is poised for rapid growth due to global technological advancements in agriculture.
- Need for Organic Food Production
- Agricultural Labor Shortage
- High Initial Investment and Cost
- Less Adoption among Small-Scale Farmers
- Precision Agriculture: Autonomous robots enable precise farming, optimizing resource usage and enhancing crop yields, thereby increasing the overall efficiency of agricultural practices.
- Collaborations and Partnerships: Collaborations between tech companies, agricultural experts, and farmers create synergies, leading to the development of tailor-made solutions and expanding market offerings.
- Advanced Data Analytics: The data generated by autonomous robots provide valuable insights. Companies can leverage this data to offer advanced analytics services to farmers, aiding in informed decision-making.
Report Focus and Methodology
The agriculture autonomous robot market report provides a credible global and regional market analysis. The report profiles existing and upcoming products, types, applications, end users, and key players in the market.
BIS Research follows an effective market intelligence methodology comprising a crucial 15-step process. Data is captured from reliable and intelligent sources such as expert interviews, patents, web analytics, scholarly articles, scientific publications, and research and development literature.
BIS follows the Deep Tech M-A-P™ approach, which includes market, application, and product within the syndicated and custom research projects.
M- The Market section covers industry overview, business dynamics, competitive benchmarks, and company profiles. It provides insights to enter, expand, or exit markets globally, regionally, or locally.
A- The Application section dives deep into product analyses, technology insights, use cases, and user types. This data is backed by precise market estimates and forecasts.
P- The Product section covers products, parts, technologies, and materials. Companies looking to drive an innovative agenda need information about product definitions, demand analysis, technology benchmarking and roadmaps, patents, as well as pricing analysis.
According to Debraj Chakravarty, Principal Analyst at BIS Research, “Over the next five years, BIS Research anticipates a profound transformation in agriculture through the adoption of agriculture drones and robots. Advanced technologies such as AI, machine learning, and improved sensors are expected to empower this agriculture autonomous equipment to perform increasingly complex tasks, from precision weeding and harvesting to autonomous crop management.”
About BIS Research
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.
Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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