Agriculture Robots the futuristic technology for the agriculture industry, to witness a CAGR of 24.3
The Global Agriculture Robots market was valued at USD $ 1,030.4 million in 2016, is expected to reach USD 4,721.1 million by 2023, growing at a CAGR of 24.3% from 2017 to 2023. The key factors driving the growth of the global agriculture robots markets are increasing population, growing food consumption and the decrease in agriculture labor. Technological advancement and shifting focus towards precision farming creates a business opportunity for investors to invest in the global agriculture robots market. The trend to deploy robots to monitor agriculture parameters is being adapted in the agriculture industry. Moreover, technological advancement in robots helps farmers to manage and optimize agricultural production on large scale.
In 2016, Driverless Tractor holds the major market share of the global agriculture robots market. Field Farming is the largest segment of global agriculture robots market in 2016. Unmanned Aerial Vehicle (UAV) and Horticulture segment in the global agriculture market is expected to witness fastest growth rate during the forecast period.
The key players in the market are Harvest Automation, Inc., Yamaha, ABB Robotics, Georgia Tech Agricultural Robots, IBM, HoneyComb, Trimble, Ossian Agro Automation, Google, FarmBot, AGCO Corporation, AgEagle Aerial Systems, Inc., Agricbotix LLC, PrecisionHawk, Inc., BouMatic Robotics BV, Blue River Technology, Inc., Vision Robotics Corporation, Nano Technology and SenseFly SA.
Browse full research report with TOC on "Global Agriculture Robots Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2023" at: http://energiasmarketresearch.com/global-agriculture-robot-market-outlook/
Key findings from Global Agriculture Robots report:
Global Agriculture Robots Market is expected to reach USD 4721.1 million by 2023, growing at a CAGR of 24.3% from 2017 to 2023
Unmanned Aerial Vehicle (UAV) and Horticulture segment in the global agriculture market are expected to witness fastest growth rate during the forecast period.
North America accounts for the major market share and is expected to hold the largest market share during the forecast period.
Asia-Pacific is the fastest growing agriculture robots market during the forecast period.
Agriculture Robots- leading to future through communicable robots and overcoming the food shortage
The rapidly growing world population has accelerated the demand for food across the globe. Thus, the need for enhanced farm productivity and increased yield is required on the existing agriculture lands. Moreover, lack of agriculture labor workforce prompts the farmers to adopt agriculture robots to enhance their crop yield and productivity. Thus, agriculture robots provide an opportunity to develop a communicable robotic system that will fully automate the agriculture system in near future.
Global Agriculture Robots- regional insight
Geographically, North America accounts for the major market share of the global agriculture robots market. The region is also expected to hold the largest market share during the forecast period. The factors driving the North American agriculture robots market are increased industrialization and need for high production accuracy to meet the global demand for food.
Asia-Pacific is the fastest growing agriculture robots market during the forecast period. Increasing urban population, increasing nutrition requirement and high consumption of food items fuels the Asia-Pacific agriculture robots market.
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