Market Size of Agricultural Robots Industry
| 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 |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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 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 Size Summary
The agricultural robots market is experiencing significant growth, driven by the need to enhance productivity and efficiency in farming practices. As the global population continues to rise, the demand for food is increasing, prompting farmers to adopt advanced technologies like agribots to boost yield and reduce dependence on manual labor. Governments worldwide are supporting this transition by offering subsidies and initiatives to promote automated farming technologies. Projects such as the European Union's Robs4Crops aim to address labor shortages and improve farming efficiency. Additionally, both established and start-up companies are investing in research and development to introduce innovative agricultural robots, further propelling market expansion.
The decline in the agricultural labor force, due to factors like reduced interest in farming and an aging population, has created a pressing need for automated solutions. This labor shortage is a global issue, affecting countries like the United States and the United Kingdom, where agricultural employment has significantly decreased. As a result, stakeholders are increasingly turning to agtech solutions, including robotics and data analytics, to modernize farming operations and maintain productivity. North America leads the market, driven by high labor costs and government support for smart farming technologies. The market is characterized by consolidation, with major players like AGCO Corporation and Deere & Company focusing on product quality, strategic collaborations, and innovation to capture larger market shares.
Agricultural Robots Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Unmanned Aerial Vehicles (Drones)
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2.1.2 Milking Robots
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2.1.3 Driverless Tractors
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2.1.4 Automated Harvesting Systems
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2.2 By Application
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2.2.1 Broad Acre Applications
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2.2.1.1 Field Mapping
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2.2.1.2 Seeding and Planting
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2.2.1.3 Fertilizing and Irrigation
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2.2.1.4 Intercultural Operations
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2.2.1.5 Picking and Harvesting
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2.2.2 Dairy Farm Management
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2.2.2.1 Milking
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2.2.2.2 Shepherding and Herding
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2.2.3 Aerial Data Collection
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2.2.4 Weather Tracking and Forecasting
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2.2.5 Inventory Management
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2.3 By Offering
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2.3.1 Hardware
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2.3.2 Software
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2.3.3 Services
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Spain
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2.4.2.5 Italy
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Africa
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2.4.5.1 South Africa
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2.4.5.2 Rest of Africa
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Agricultural Robots Market Size 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.
