High Success Rate Reported For Agricultural Robots Industry, 2018

High Success Rate Reported For Agricultural Robots Industry, 2018

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Farmers are gradually inclining towards automated technology to produce higher yields. Modernized and sustainable farming technologies act as a boon for the agricultural industry, thereby eliminating the possibilities of food scarcity.

Growth in population, high requirement for food, rise in popularity of indoor farming, common climate variations, and surge in adoption of automation technology are expected to drive the global agricultural robots market during the forecast period. However, restricted awareness about these robots among the farmers and incapability of the robots to match to human-like dexterity impede the market growth. The agricultural robots market is segmented on the basis of type, application and geography. The milking robots segment dominates the market, accounting for $6,555 million in 2016, registering a CAGR of 7% during the forecast period.

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Based on application, the dairy management segment is expected to generate the maximum revenue during the forecast period, accounting for 61.3% share by 2023.

Factors contributing the demand for global agricultural robots market include increase in adoption of automation technology, growth in demand for food and feed, rise in popularity of indoor farming and weather uncertainties. The economic progress is driven by the increase in population in the urban areas and the suburbs. This scenario results into an increased demand for food production.

Source: Allied Market Research