North America Dominated the Global Agriculture Robots Market with Leading Market Share
Added: (Thu Oct 05 2017)
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Global Agriculture Robots Market Report, published by Variant Market Research, forecast that the global market is expected to reach $5,214 million by 2024 from $968 million in 2016; growing at a CAGR of 23.4% from 2016 to 2024. By geography, Asia Pacific and rest of the world (RoW) are expected to grow at a CAGR of 24.7% and 24.1%, respectively, during the forecast period.
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The major factor supporting the growth of the agriculture robots market are rising population coupled with shortage of food worldwide and pressure on farmers to produce more grains in limited time. Though, high cost of these robots and lack of availability of skilled labors are expected to hinder the growth of the market. Moreover, increasing government support for the adoption of modern agricultural techniques and increasing need for monitoring crop health for yield production would generate several growth opportunities for the market during the forecast period.
Type, application, and geography are the primary segments considered in the global agriculture robots market. The type segment is further categorized into UAV, driverless tractor, milking robots and machines, among others. Among which, driverless tractor accounted for the largest market share of 32.4% followed by machines with the share of 26.5% in 2016, driven by several benefits of driverless tractor and machines for instance precision in work and minimization the labor cost. Besides, agriculture robots market is also classified into various applications such as field farming, indoor farming, dairy management, and horticulture. Among these applications, field farming dominated the segment with 37.3% of the total share, followed by horticulture with 23.4%, in the year 2016.
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Based on geographical analysis North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major segments of the global agriculture robots market. Asia-Pacific is the fastest growing region with respect to CAGR in the global agriculture robots market, and is anticipated to endure this trend throughout the forecast period, due to increase in population and high penetration of robots for high yield and to reduce human interference. The largest market with share of 26.8% was occupied by North America in 2016, owing to increased adoption of agriculture robots in United States.
The key players operating in the market are Deere & Company, AutoProbe Technologies LLC, AGCO Corporation, Agribotix LLC., Harvest Automation, Inc., Naio Technology, KC Drone Co., MafRodaAgrobotics, BouMatic Robotics BV, and GEA Group, among others.
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Scope of Agriculture Robots Market
• Driverless Tractor
• Milking Robots
• Dairy Management
• Indoor Farming
• Field Farming
• North America
o United Kingdom
o South America
o Middle East
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Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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