Global Agricultural Robot Market Forecast 2024-2033 – Market Size, Drivers, Trends, And Competitors

The Business Research Company’s Agricultural Robot Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 27, 2024 /EINPresswire.com/ -- The agricultural robot market has experienced exponential growth, expanding from $14.26 billion in 2023 to an anticipated $17.5 billion in 2024, driven by factors such as labor shortages, increased adoption of precision agriculture, and growing global food demand bolstered by government subsidies and mechanization trends. Looking ahead, the market is poised for continued exponential growth, projected to reach $39.28 billion by 2028, with a CAGR of 22.4%. This growth will be fueled by advancements in AI and machine learning integration, tailored solutions for diverse crops, adaptation to climate change, and innovations in autonomous fleets and swarm robotics, alongside enhanced capabilities in farm management software. Key trends include advancements in remote sensing and imaging technologies, early-stage innovations, sensor technology improvements, the rise of data-driven farming practices, and the integration of robotics for precise crop monitoring and management.

Rising Demand for Food Drives Market Growth
The escalating global demand for food is a pivotal driver propelling the agricultural robot market forward. These robots play a crucial role in enhancing agricultural efficiency, from cultivation to precision farming, thereby contributing to sustainable food production. The State of Food Security and Nutrition report highlighted a significant increase in global starvation figures, underscoring the urgent need for enhanced agricultural productivity and efficiency to meet growing food demands.

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Key Players and Market Trends
Leading companies such as Deere & Company and Yamaha Motor Co. Ltd. are at the forefront of the market, focusing on technological innovations such as electric and autonomous robots. These advancements aim to provide high-precision solutions for weeding and implement guidance, enhancing overall farm efficiency and productivity. For example, Naio Technologies introduced Orio, an electric and autonomous robot equipped with AI-based algorithms for weeding and smart farming applications.
In strategic moves, companies like CNH Industrial N.V. and AeroFarms are expanding their capabilities through acquisitions and partnerships, aiming to consolidate their positions in the agricultural robotics sector.

Segments
• Offering: Hardware, Software, Service
• Farming Environment: Indoor, Outdoor
• Application: Harvest Management, Field Farming, Dairy And Livestock Management, Irrigation Management, Pruning Management, Weather Tracking and Monitoring, Inventory Management, Other Applications

Geographical Insights: North America Leads, Asia-Pacific to Grow Fastest
North America emerged as the largest region in the agricultural robot market in 2023, driven by widespread adoption of advanced farming technologies. Meanwhile, Asia-Pacific is expected to witness the fastest growth during the forecast period, spurred by increasing investments in agricultural automation and modernization efforts.

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Agricultural Robot Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Agricultural Robot Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on agricultural robot market size, agricultural robot market drivers and trends, agricultural robot market major players, competitors' revenues, market positioning, and market growth across geographies. The agricultural robot market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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