Global Agricultural Robots Market is Expected to Reach $27.35 Billion by 2027.
GAITHERSBURG, Md., July 29, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Agricultural Robots Market is accounted for $6.03 billion in 2019 and is expected to reach $27.35 billion by 2027 growing at a CAGR of 20.8% during the forecast period.
Some of the key players in Agricultural Robots Market include Kubota Corporation, Deere & Company, Cnh Industrial N.V., Agco Corporation, Harvest Automation, Agjunction, Ageagle Aerial Systems, Harvest Croo, Topcon Positioning System, Deepfield Robotics, Autonomous Tractor Corporation, Boumatic Robotics, Robotics Plus, Yanmar Co, Naïo Technologies, Ecorobotix, Trimble, and Delaval.
Some of the key factors propelling the market growth are growing population and labor shortage. However, technological barriers are the restraining factors for the growth of the market.
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Equipment used in farming to improve productivity and reduce dependence on manual labor is known as an agricultural robot. These robots help automate tasks carried out by the farmers, thus allowing them to focus more on enhancing overall production yield.
By type, the unmanned aerial vehicles (UAVs)/drones segment is expected to grow at a significant market share during the forecast period which is attributed to its low cost when compared to other types of robots.
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Based on geography, North America is anticipated to hold considerable market share during the forecast period owing to the increasing agricultural automation in the major economies like the U.S and Canada.
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