Tractica: AG robots market to reach $74.1 billion by 2024

Date:01-04-2017

According to a new report from Tractica, developed in collaboration with The Robot Report, shipments of agricultural robots will increase significantly in the years ahead, rising from 32,000 units in 2016 to 594,000 units annually in 2024, by which time the market is expected to reach $74.1 billion in annual revenue.

The market for agricultural robots is developing at a rapid pace, with a large number of established and startup agricultural technology companies developing, piloting, and launching an innovative range of robotic systems to tackle a wide variety of tasks. Key application areas for agricultural robots include driverless tractors, unmanned aerial vehicles (UAVs), material management, field crops and forest management, soil management, dairy management, and animal management, with a diverse set of subcategories emerging within each of those areas.

Driverless tractors, agricultural drones, material management robots, and soil management robots will drive the highest volumes in unit shipments.

"The rising demand for agricultural robots is being driven by a number of factors including global population growth, increasing strain on the food supply, declining availability of farm workers, the challenges, costs, and complexities of farm labor, changing farmlands, climate change, the growth of indoor farming, and the broader automation of the agriculture industry," says Tractica research analyst Manoj Sahi.