Agricultural Robots Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 14.97 Billion |
| Market Size (2029) | USD 27.71 Billion |
| CAGR (2024 - 2029) | 13.10 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Agricultural Robots Market Analysis
The Agricultural Robots Market size is estimated at USD 14.97 billion in 2024, and is expected to reach USD 27.71 billion by 2029, growing at a CAGR of 13.10% during the forecast period (2024-2029).
- Agricultural robots, also known as agribots, are one of the latest revolutions in the agriculture industry. They are autonomous machines employed to improve the quality and efficiency of yield, increase overall productivity, and minimize reliance on manual labor. With the growing population, the demand for food is rising at a rapid pace globally. Thus, farmers are now shifting toward modern tools and equipment, such as agricultural robots, to boost their total productivity and generate more revenue.
- Furthermore, governments across the world are offering subsidies and undertaking initiatives to propagate awareness about automated technologies among farmers. For instance, in 2021, the European Union launched projects, such as Robs4Crops, from farming controllers and smart implements to fully autonomous farming systems. Robs4Crops (a new project) is helping farmers fill the labor shortage, which is shaking up the farming landscape. This is likely to enhance the scope of the agricultural robots market.
- Moreover, several established and start-up agricultural companies are investing in research and development activities to introduce an innovative range of agricultural robots. For instance, in 2021, AGCO Corporation launched the pilot of its Precision Ag Line (PAL) program, a tool designed to streamline support services for farming customers using AGCO solutions with mixed-fleet operations.
Agricultural Robots Market Trends
This section covers the major market trends shaping the Agricultural Robots Market according to our research experts:
Labor Shortage and Increasing Costs of Labor
- The agriculture labor force has decreased in recent years due to the reduced interest in farming, combined with the aging farmer population. As the population of farm laborers continues to decline, farmers are feeling pressure to keep up with production for the growing demand for fresh produce. Moreover, the downward trend of labor is translating into higher labor wages.
- Furthermore, the agricultural industry in the United States and the United Kingdom, among other countries, depend on laborers, and a similar trend is seen across other developed countries as well. Agricultural employment has declined by 15% in the last decade around the globe, according to World Bank data. The labor shortage has become a global problem, with an aging farmer population that further limits the supply of manual labor. Thus, automated farming systems can help to reduce the pressures of the farm labor shortage. Agtech can bring new efficiencies to farm systems and drive overall productivity.
- Consequently, with a shortage of available workers, stakeholders are looking at how to modernize the farms. For instance, the American Farm Bureau Federation (AFBF) reported that 56% of US farms have begun using agritech, with more than half stating labor shortage as the reason. The use of innovative agrotechnology includes wireless sensors, robotics, predictive forecasting model, and data analytics. Thus, increasing labor shortages and wages are driving the growth of the market.
North America Dominates the Market
- North America accounted for the largest share of the agricultural robots market. The market in the region is driven by the higher adoption of advanced technology due to increasing labor shortage, high labor costs in the region, and high per-capita disposable income. Increasing government encouragement for the deployment of robots in agriculture, such as unmanned aerial vehicles, driverless tractors, and other agriculture systems to provide smart farming, are some of the factors contributing to the region's growth. To increase the yields and reduce the costs of farmers, some of the players in this market are heavily investing in developing cost-efficient and highly productive robots.
- For instance, in 2021, Future Acres, based in Santa Monica, launched its first robot, Carry, with plans to tackle grape picking. Carry relies on AI to transport hand-picked crops, working alongside humans. Hence, reducing the challenges of labor shortages and introducing new products into the market suiting the farmer's needs are driving the growth of the agricultural robots market in the North American region.
Agricultural Robots Industry Overview
The agricultural robot market is consolidated with active players competing on the basis of product quality and promotion and focusing on their strategic moves to hold larger market shares. Companies are investing heavily to develop new and cost-efficient products. They are also collaborating with and acquiring other companies to increase their market shares and strengthen R&D activities. The companies like AGCO Corporation, Deere & Company, Agrobot, and Agribotix LLC are some of the major players in the agricultural robots market.
Agricultural Robots Market Leaders
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Deere & Company
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AGCO Corporation
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Agribotix LLC
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Agrobot
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Blue River Technology
*Disclaimer: Major Players sorted in no particular order
Agricultural Robots Market News
- June 2022: Small Robot Company (SRC), a British agriculture robotics startup, announced plans to launch its agricultural robots at around 50 farms over the course of the 2022-2023 growing season.
- February 2022: Verdant Robotics launched its robot-as-a-service (RaaS) model to ensure access for more specialty crop farmers to meet their demands for more sustainable and profitable growing practices.
- February 2022: Naio Technologies launched the Orio agriculture robot at World Ag Expo 2022. Orio is a sustainable alternative to the use of herbicides that respects soils, improves working conditions, and collects data for smart farming
- January 2022: John Deere demonstrated a completely autonomous tractor that is ready for mass production. This equipment includes a Deere 8R tractor, a TruSet-enabled chisel plow, a GPS navigation system, and other cutting-edge technology.
Agricultural Robots Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Unmanned Aerial Vehicles (Drones)
5.1.2 Milking Robots
5.1.3 Driverless Tractors
5.1.4 Automated Harvesting Systems
5.2 By Application
5.2.1 Broad Acre Applications
5.2.1.1 Field Mapping
5.2.1.2 Seeding and Planting
5.2.1.3 Fertilizing and Irrigation
5.2.1.4 Intercultural Operations
5.2.1.5 Picking and Harvesting
5.2.2 Dairy Farm Management
5.2.2.1 Milking
5.2.2.2 Shepherding and Herding
5.2.3 Aerial Data Collection
5.2.4 Weather Tracking and Forecasting
5.2.5 Inventory Management
5.3 By Offering
5.3.1 Hardware
5.3.2 Software
5.3.3 Services
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Spain
5.4.2.5 Italy
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Africa
5.4.5.1 South Africa
5.4.5.2 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Agrobot
6.3.2 Blue River Technology
6.3.3 Harvest Automation
6.3.4 AGCO Corporation
6.3.5 Lely Industries
6.3.6 Naio Technologies
6.3.7 Precision Hawk
6.3.8 Deere & Company
6.3.9 AG Eagle LLC
6.3.10 Agribotix LLC
6.3.11 Trimble
6.3.12 IBM
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Agricultural Robots Industry Segmentation
Agricultural robots are specialized articles of technology that are capable of assisting farmers with a wide range of operations for improving the quality and efficiency of yield, minimizing reliance on manual labor, and increasing overall productivity. They have the capability to analyze, contemplate, and carry out a multitude of functions.
The agricultural robots market is segmented by type (unmanned aerial vehicles (drones), milking robots, driverless tractors, and automated harvesting systems), application (broad acre applications, dairy farm management, aerial data collection, weather tracking and forecasting, and inventory management), offering (hardware, software, and services), and geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market size and forecasts in value (USD million) for all the above segments.
Agricultural Robots Market Research FAQs
How big is the Agricultural Robots Market?
The Agricultural Robots Market size is expected to reach USD 14.97 billion in 2024 and grow at a CAGR of 13.10% to reach USD 27.71 billion by 2029.
What is the current Agricultural Robots Market size?
In 2024, the Agricultural Robots Market size is expected to reach USD 14.97 billion.
Who are the key players in Agricultural Robots Market?
Deere & Company, AGCO Corporation, Agribotix LLC, Agrobot and Blue River Technology are the major companies operating in the Agricultural Robots Market.
Which is the fastest growing region in Agricultural Robots Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Agricultural Robots Market?
In 2024, the North America accounts for the largest market share in Agricultural Robots Market.
What years does this Agricultural Robots Market cover, and what was the market size in 2023?
In 2023, the Agricultural Robots Market size was estimated at USD 13.24 billion. The report covers the Agricultural Robots Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Agricultural Robots Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key trends driving the Agriculture Robots Market?
The key trends driving the Agriculture Robots Market are a) Agricultural robots can contribute to sustainable farming by performing tasks with greater precision, reducing waste, and optimizing resource usage b) Government initiatives and funding programs can encourage research, development, and adoption of agricultural robots in some regions
Robots in Agriculture Industry Report
The global agriculture robots market is on an upward trajectory, expected to grow at a robust CAGR over the next decade, driven by the increasing global food demand and a shift toward high-efficiency robotic technologies. These advances aim to boost yield and revenue through diverse machines that enhance productivity and reduce labor dependence, including unmanned aerial vehicles and milking robots. The market, segmented by product type, application, and region, is experiencing notable growth, especially in precision agriculture applications, which emphasize sustainability and efficiency. North America leads in market share due to substantial technological and investment advancements, while the Asia-Pacific region displays strong growth due to rapid urbanization and adoption of advanced farming technologies. Despite challenges like high initial costs and data privacy concerns, ongoing innovations aimed at addressing labor shortages and improving crop management are likely to continue propelling substantial market growth. For detailed insights into the agriculture robots market share and growth, and forecasts, a comprehensive analysis is available for free download from Mordor Intelligenceā¢.
