Dublin, Jan. 17, 2020 (GLOBE NEWSWIRE) -- The "Agricultural Robots Market By Application, By Technology, By Geography - Global Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.
The global agricultural robots market is expected to surpass a revenue of $20 billion by the end of 2025, with growth in precision agriculture as a major driver.
The demand for precision agriculture is increasing in the agriculture sector as it helps to increase crop production and farming efficiency. In recent years, numerous companies are investing in R&D activities related to agricultural robots.
For instance, FarmWise, a company that develops autonomous farming robot systems, announced the raising of $14.5 million in a Series A funding round, led by Calibrate Ventures, in September 2019. The funding is to aid engineering & operations teams of the company and to boost R&D efforts concerning plant-level detection and actuation capabilities.
Based on the application, the global agricultural robots market is segmented into livestock and crop. Livestock applications include herding, milking, and fish farming. Crop applications include planting, seeding, crop weeding & spraying, crop monitoring & analysis, thinning & pruning, fertilizing & irrigation, autonomous tractors, and picking & harvesting.
Based on technology, the global agricultural robots market is segmented into computer vision, sensors, communication, software, and machinery. Computer vision is used in most of the advanced agricultural robots that perform monitoring and analysis. They are used for plant/fruit disease detection, water leak identification in large agricultural lands, and to track the growth of plants.
A major trend in the global agricultural robots market is the increasing use of drones, with many companies investing in this technology. In the agricultural sector, drones are widely used for monitoring, field analysis, livestock management, irrigation mapping, and crop spraying. Agricultural robots are generally equipped with several sensors and imaging technologies, including hyperspectral imaging and thermal imaging. Drones can play a vital role in agriculture by providing the farmers with an overall picture of their farmland and help to make informed decisions that maximize crop production.
One of the major hindrances in the adoption of robots in farming is the lack of awareness among farmers. Across many parts of the world, especially in Asia, farmers rely on old techniques for cultivation and are reluctant to adopt the latest technologies mainly due to the high cost of robots adoption and lack of awareness regarding the return on investment (ROI) on implementing precision agriculture and robots for farming.
The future of agricultural robots is based on the development of autonomous robotic systems. Autonomous robots will find significant use in areas that are hazardous for humans, including crop spraying and harsh weather farming (can cause sunburn or heat stroke). At present, one of the major issues in the agricultural sector is farm-related fatalities. For instance, several people unintentionally killed on Australian farms account for more than 20% of worker fatalities across all Australian industries. Autonomous robots are expected to alleviate this situation to an extent.
North America is the leading revenue generator in the global agricultural robots market, with a major share contributed by the US. This is due to the presence of several core vendors in the US that are focused on agricultural robots. APAC is expected to be one of the fastest-growing regions in the global agricultural robots market, with significant growth expected in China and Japan.
Key Topics Covered
1 Executive Summary
2 Industry Outlook
2.1 Industry Snapshot
2.1.1 Industry Trends
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segmented Addressable Market
3.2.1 PEST Analysis
3.2.2 Porter's Five Force Analysis
3.23 Related Markets
4 Market Characteristics
4.1 Market Ecosystem
4.2 Market Segmentation
4.3 Market Dynamics
5 Global Agricultural Robots Market, By Application
5.2.3 Fish Farming
5.3.3 Crop Monitoring and Analysis
5.3.4 Fertilizing and Irrigation
5.3.5 Crop Weeding and Spraying
5.3.6 Thinning and Pruning
5.3.7 Autonomous Tractors
5.3.8 Picking and Harvesting
6 Global Agricultural Robots Market, By Technology
6.2 Computer Vision
6.5.1 Localisation, Mapping and Management Software
6.5.2 Analytics Software
6.6 Machinery (Robotic Arms, Wheels and Other Mechanical Parts)
7 Global Agricultural Robots Market, By Region
7.2 North America
8 Competitive Landscape
8.1 Competitor Analysis
8.3 Market Developments
8.3.1 Mergers & Acquisitions (M&A)
8.3.3 Business Restructuring
9 Vendors Profiled
AgEagle Aerial Systems
Agrobot Robotic Harvesters
Blue River Technology
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