Agricultural robot or agribot is a robot deployed for agricultural purposes which automate slow, repetitive and dull tasks for farmers, thus allowing them to focus more on improving overall production yields. Robots in agriculture are used for harvesting and picking, weed control and autonomous mowing, pruning and seeding.
The global agricultural robots market was USD 3234.70 million in 2018 and is estimated to reach USD 12611.13 million by 2025 at a CAGR of 21.46% during the forecast period
Growth by Region
The North American region accounted for the largest market share in 2018 due to increased industrialization of farming equipment with the need for improved efficiency as well as productivity to meet the global demand for food. However, the Asia-Pacific region is projected to grow at the highest CAGR due to the investment in machinery. Countries in Middle East and Africa face a moderate growth in comparison with other regions globally due to less implementation and awareness among the people.
Drivers vs Constraints
The global agricultural robots market is mainly driven by growing demand for food production effectively ensuring sustainability as well as rising adoption of automation by launching and experimenting a wide range of robotic systems specially designed for various agricultural purposes. However, the growth of the market is hindered by limited awareness among farmers, weather uncertainties, inability to match up to human dexterity as well as the growing popularity of indoor farming.
Industry Trends and Updates
PrecisionHawk, Inc., a commercial drone and data company providing services for industries such as agriculture has raised USD 75 million from a group of venture and strategic investors making its total investment to USD 100 million which will enable the company to focus on product innovation and apply capital to expand its team with the amount.
Naio Technologies, an autonomous weeding and agricultural robot company have raised 2 million Euros from four investors to further increase its development and also these new funds will help in financing the launch of export sales overseas as well as the industrialization of their products and anchor the company’s reputation as a worldwide leader in agricultural robotics.