The global agricultural robots market to grow to $12.80 Billion by 2022

 According to MarketsandMarkets’ forecast, the agricultural robots market, in terms of value, is expected to grow from USD 2.75 Billion in 2016 to USD 12.80 Billion by 2022, at a CAGR of 20.71% between 2017 and 2022. The major drivers for the agricultural robots market include the adoption of new technologies to increase farm efficiency and reduce production cost, increasing global demand for food owing to increasing population, increasing need for monitoring crop health for yield production, and the government’s support for adoption of modern agricultural techniques.

This report covers the agricultural robots market based on offering, type, application, and geography. The harvesting management application is expected to hold the largest share of the agricultural robots market between 2017 and 2022.

Harvesting management is the most widely used application in agricultural robots as it plays a vital role in understanding the field variability and helps farmers in maximizing their yields. Increasing labor cost is motivating farm owners to adopt automated harvesting system. Automated harvesting management held the largest market share among all applications due to the high adoption rate among farmers and growers.

The agricultural robots market for the services segment is expected to grow at the highest rate between 2017 and 2022. The agricultural robots market for services is segmented on the basis of five broad categories system integration and consulting, managed services, assisted professional services, connectivity services, and maintenance and support. The increasing demand for managed and assisted professional services is the major reason behind its high growth rate.

The agricultural robots market for driverless tractor is expected to grow at the highest rate between 2017 and 2022. The agricultural robots market based on type is divided into unmanned aerial vehicles (UAVs), milking robots, automated harvesting systems, and driverless tractor. The adoption rate of driverless tractor is expected to increase during the forecast period because this technology helps in applying the right amount of input at the right place on the field, which minimizes the input waste and increases the productivity of the land and crop.

The Americas held the largest share of the agricultural robots market in 2016. The demand for advanced agricultural solutions is expected to drive the growth of the agricultural robots market in this region. Farmers or growers in this region are increasingly adopting advanced farming systems and equipment such as steering and guidance systems, sensors, display devices, and farm management software. The agricultural robots market in APAC is expected to grow at the highest rate between 2017 and 2022.

The major challenges for the companies in the agricultural robots market are management of data for productive decision and lack of standardization. The major vendors in the agricultural robots market include Deere & Company (U.S.), AgJunction, Inc. (U.S.), and AGCO Corporation (U.S.), DJI (China), Lely Holding S.A.R.L (Netherlands), and Agribotix LLC (U.S.). These players adopted various strategies such as new product developments, mergers, partnerships, collaborations, and expansions to cater to the needs of the customers.