News in brief: The agriculture robots market is expected to grow to $40 billion by 2028, driven by factors such as increasing demand for food, labor shortages, and the need for sustainable farming practices.
The agriculture robots market is positioning agriculture on the brink of a technological revolution given its unparalleled growth. A Research and Markets publication estimates that it will hit a $40.1 billion evaluation by 2028, which is a significant milestone from its current level of $13.5 billion.
The market’s upward movement is expected to be fueled by an increasing awareness of digital agricultureâs transformative potential.
More farmers are adding robotics, artificial intelligence, data analytics and the Internet of Things (IoT) into traditional farming practices, the report explains.
Technology’s diverse use in farming, from seed planting, fertiliser application, pesticide dispensation, waste reduction and resource use optimisation, underscore its importance.
The report forecasts that machines such as unmanned aerial vehicles/drones, milking robots, driverless tractor, automated harvesting systems and others will form the bulk of systems driving agricultural growth in the foreseeable future.
Experts have highlighted the importance of these machines in helping to address critical challenges in the sector. They have also noted their ability for enhancing productivity, sustainability and efficiency in outdoor farming.
The European Committee of Farm Machinery Manufacturer’s Associations (CEMA) proclaims that the European agricultural machinery market is currently growing. It noted that among already mentioned factors, optimised supply chain and increasing labor cost owing to shortage of skilled labor, are responsible for the surge.
However, the association says that stakeholders are uncertain regarding government support, which could be a challenge for investments. Low farm income and Russian import restrictions are challenges the industry face.
The agricultural robots market is set to grow with a compound annual growth rate (CAGR) of 24.3%. Renowned companies like DJI, Precision Hawk, Trimble Inc., and Yamaha Motor Co., among others, are leading the pack in what has been described as a dynamic metamorphosis.
Field crops are expected to have the highest share of the market and the highest growth rate during the forecast period. Meanwhile, the European agricultural machinery market is projected to grow significantly during the forecast period as it is one of the most developed in the world.
Global players, such as John Deere (United States), Small Robot Company (United Kingdom), Earth Rover (United Kingdom), CNH Industrial (The Netherlands), AGCO Corporation (United States), and Saga Robotics (Norway) are some of the brands taking the industry to its next level.
