New York, USA, July 12, 2022 (GLOBE NEWSWIRE) — According to the newly published Research Dive report, the global agriculture robot market is anticipated to rise at a stable CAGR of 19.2%thereby garnering a revenue of $16,640.4 million in the 2018-2026 timeframe. This comprehensive Research Dive report presents a brief outlook of the current framework of the agriculture robot market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2018-2026. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Agriculture Robot Market:
Drivers: Since the last few years, there has been an increase in the popularity of vertical farming due to various reasons. As a result, there has been a growing trend among farmers across the globe to shift to vertical farming. This increasing trend is predicted to be the primary growth driver of the agriculture robot market in the forecast years. Along with this, rise in demand for food supply is expected to help the market to grow in the coming years.
Opportunities: The help offered by agriculture robots in the form of soil exploration, plant seeding, cloud seeding, weed control, etc. is expected to offer numerous growth opportunities to the market in the analysis timeframe. Also, increasing shift towards vertical farming is anticipated to push the market forward.
Restrictions: However, high cost of agriculture robots might become a hurdle in the growth of the global market.
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Segments of the Agriculture Robot Market:
The report has fragmented the agriculture robot market across different segments such as type, application, and region.
Type: Unmanned Aerial Vehicles Sub-segment to be the Most Profitable
By type, the unmanned aerial vehicles sub-segment is expected to generate the highest revenue by 2026. Various functions performed by UAV agriculture robots such as increasing crop production, optimizing agriculture operations, and monitoring the growth of crops has led to an increase in demand for these robots. This growth in demand is anticipated to help in the growth of this sub-segment.
Application: Diary Management Sub-segment to Have the Largest Market Share
By application, the diary management sub-segment is anticipated to have the most dominating market share of the agriculture robot market in the 2018-2026 timeframe. Agriculture robots used in dairy management help in collecting milk from cows as well as grazing the agriculture grounds. These diverse range of applications performed by agriculture robots in the dairy management sector is predicted to push this sub-segment in the forecast years.
Region: Market in the Asia-Pacific Region to be the Fastest Growing
By regional analysis, the agriculture robot market in Asia-Pacific region is anticipated to be the fastest growing one in the 2018-2026 period. The increasing adoption of technology in the farming sector and offering of governmental subsidies to the agriculture sector by various countries of this region are expected to be the leading factors behind the growth of the market in this region.
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Prominent Agriculture Robot Market Players:
Some prominent players in the agriculture robot market are
- LelyHarvest Automation
- Deepfield Robotics
- Autonomous Tractor Corporation
- GEA Group
- Clearpath Robotics
- John Deere
- Autonomous Solutions Inc, among others.
These players are introducing and coming up with new technological advancements and innovations to gain a primacy in the market.
For instance, in August 2021, John Deere, an American corporation specializing in manufacturing of agriculture machinery, heavy equipment, etc., announced the acquisition of Bear Flag Robotics, an agriculture technology startup. This acquisition is aimed at developing advanced technologies to solve the challenges and issues that are currently faced by the agriculture sector. – Get in touch with our Expert Analyst to get more Agriculture Robot Market Insights
Finally, this comprehensive report also summarizes many crucial facets of the agriculture robot market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
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