Precision Agriculture Robot Market Size, Share, Growth, and Global Industry Analysis by Type (Indoor Farming, Outdoor Farming) By Application (Planting and Animal Husbandry.), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2023 To 2031

Updated On: 20 November 2023

PRECISION AGRICULTURE ROBOT MARKET REPORT OVERVIEW

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The global precision agriculture robot market size was USD 3209 million in 2021 and is projected to touch USD 58934.53 million by 2031, exhibiting a CAGR of 33.5% during the forecast period.

Precision Agriculture is a farming management concept based on measuring, observing, and responding to agriculture. Agriculture precision was invented in the early 1990s to launch the Global Positioning System (GPS) guidance for farming vehicles. Now, it is a vast and technologically advanced industry. The industry has adopted various advanced technologies, such as plant genetics, advancements in planting and agricultural application equipment, and soil and plant sensors to enhance the system's efficiency and improve adaptability and resilience. 

Agriculture precision is the adoption and implementation of a highly accurate set of practices with the help of technology to fulfill the needs of farmers. Farmers have always been active data collectors, having a raw idea of how much milk an individual cow produces, and what each acre of land yields. With the help of complex data collecting devices with advanced technology, agriculture is halfway through a high-tech revolution, particularly in precision farming.  With the support of agriculture robots, farmers can use the tools integrated with other industries. This “big data” can be integrated with farming tools such as drones and GPS. Drones communicate with satellites to accumulate data while soaring over the field. The GPS can be connected to the animal tags to track their animals remotely.    

COVID-19 Impact

"Companies Witnessed Supply Chain Disruption Due to A Shortage of Equipment"

The global COVID-19 pandemic has been unprecedented and staggering, with agriculture precision robots experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the precision agriculture robot market growth and demand returning to pre-pandemic levels once the pandemic is over.

The precision agriculture robot market witnessed a marginal dip during the pandemic, backed by the restrictions of lockdowns and movement turned out to be a cause of disruption to the market. Supply chain disruption led to an equipment shortage that hindered the agriculture precision robot market growth. However, farm management and remote sensing tools are expected to spur higher product adoption in the post-COVID-19 period. Companies are exploring new opportunities to communicate with the farmers with the help of technology. Key players also emphasize wireless platforms to take real-time decisions regarding farming, animal husbandry, crop health monitoring, harvesting management, and others.

LATEST TRENDS

"Increasing Adoption of Robots to Stimulate Growth"

Agriculture precision robot are technologically advanced robots. These robots do not feel tired or sick, nor do they need time off and can operate every time without breaks. The farmers are rapidly adopting these automation robots as they have higher efficiency. The robots can reduce the use of pesticides on a farm by 80%.  Agriculture precision robots offer a GPS tracker which can be used to track the vitals. The animal tags can be connected to GPS and thus, their location can be easily found through a smartphone. 

PRECISION AGRICULTURE ROBOT MARKET SEGMENTATION

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• By Type Analysis

By type, the Precision agriculture robot market is segmented into indoor farming and outdoor farming.

• By Application

Based on application, the Precision agriculture robot market is classified into planting and animal husbandry.

DRIVING FACTORS

"Rising Adoption of Smartphones in Agriculture to Foster Market Growth"

The consistently rising demand for smartphones is expected to lead to major growth in the market. Companies introduced advanced applications that are compatible with all smartphones. The adoption of smartphones in the agriculture sector will allow farmers to be able to monitor the field from anywhere and the data is saved in the cloud as backup. Smartphones and their advanced technology are expected to gain more farmers inclined toward the agriculture precision robot market share.

"Growing Population and Increasing Demand for Food to Bolster Growth"

Agriculture produces more fiber and food to feed an emerging population with some rural labor force. The agriculture precision robot growth depends upon the food and fiber demand from the farmers. With the ever-rising population, the agricultural precision robot is also expected to boost the market. To meet the population’s demand, the farmers are trying to gain more food and fiber from the fields.

RESTRAINING FACTORS

"High Cost of Maintenance to Hinder Market Growth"

Agriculture precision robots working at a high speed may come up with a few errors. Additionally, it costs a lot of money to buy or repair. These robots need high maintenance to keep them running smoothly. The farmers may lose their jobs by the virtue of higher the adoption of agricultural robots. The robots demand high energy costs, which are not affordable by poor farmers, and maybe a limiting factor for the agriculture precision robot market.

PRECISION AGRICULTURE ROBOT MARKET REGIONAL INSIGHTS

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"Adoption of Digital Technologies to Spur Lucrative Opportunities in North America"

Regionally, the market is segregated into North America, Asia-Pacific, Latin America, and the Middle East & Africa.

North America is likely to dominate the precision agriculture robot market share due to the higher inclination of the farmers towards the adoption of digital technology for farming. The adoption of digital technology for farming is anticipated to surge growth in the region. It is also expected to continue as the regional leader in the coming years.

Asia Pacific is expected to witness the highest growth in the market. The growth is attributed to the strong economic growth along with the current development in the agriculture industry. The industrial developments of the agriculture precision robot market drive organizations to invest heavily to enhance productivity and gain growth. Additionally, various factors such as rising cloud deployment, shifting of companies toward digital platforms, and technological advancements in the farming industry are also expected to drive major growth in the region.

KEY INDUSTRY PLAYERS

"Technological Advancements to Enhance Market Position"

The major market players adopted various strategies to gain long-term growth in the global agriculture precision robot market. Moreover, prominent players emphasize on developing strategies to spur the adoption of precision agriculture techniques to meet customers’ requirements. 

List of Market Players Profiled

• John Deere (U.S.)
• Trimble (U.S.)
• AGCO (U.S.)
• DeLaval (Sweden)
• Lely (Netherlands)
• YANMAR (Japan)
• TOPCON Positioning Systems (U.S.)
• Boumatic (U.S.)
• KUBOTA Corporation (Japan)
• DJI (China)
• ROBOTICS PLUS (New Zealand)
• Harvest Automation (U.S.)
• Clearpath Robotics (Canada)
• Naïo Technologies (France)
• Abundant Robotics (U.S.)
• AgEagle (U.S.)
• Farming Revolution (U.S.)
• Iron Ox (U.S.)
• ecoRobotix (Switzerland)

INDUSTRY DEVELOPMENT

February 2022- Abundant Robots to deliver high-quality products to the customers. Abundant Robot is a start-up that automates the apple harvesting process to offer high-quality products to meet the customer’s demand.

REPORT COVERAGE

The report covers almost all possible aspects to offer market insights into telecom power systems, which includes the major factors responsible for the growth of the market. The factors negatively affecting the market growth along with the effects of the pandemic and its followed lockdown are represented in the report. The report also includes an analysis of regions and the region leading the global market. Key competitors and their recent developments in the market are included in the report to offer market insights to the stakeholders.