Agricultural Robots and Mechatronics Market Forecasts to 2028 – Global Analysis By Type (Milking Robots, Unmanned Aerial Vehicles (UAVs), Autonomous Tractors and Other Types), Application and By Geography

Agricultural Robots and Mechatronics Market Forecasts to 2028 – Global Analysis By Type (Milking Robots, Unmanned Aerial Vehicles (UAVs), Autonomous Tractors and Other Types), Application and By Geography

According to Stratistics MRC, the Global Agricultural Robots and Mechatronics Market is accounted for $5.9 billion in 2022 and is expected to reach $18.7 billion by 2028 growing at a CAGR of 21.1% during the forecast period. The robots used in agriculture are known as agriculture robots. Agriculture robots are capable of carrying out farming tasks like sowing seeds, collecting fruit, watching over the environment and plants, packing food, and more. Additionally, farmers are only using agriculture robots at this early stage for repetitive tasks like food packaging. As a result, major participants in the sector are concentrating on creating agricultural robots that can make decisions using tools like big data.

According to a report published by the United Nation in June 2017, global population is expected to reach around 9.8 billion in 2050 from 7.7 billion in 2017. According to coherent market insights analysis, vertical farming market is expected to reach around 8.3 Bn by 2027 from 1.7 Bn in 2016.

Market Dynamics:

Driver:

Increasing development in biotechnology

Robotics and mechatronic technologies are projected to become more widely used as biotechnology and vertical farming evolve. The amount of farmland accessible is decreasing as a result of rising population and growing urbanisation. Farmers also favour vertical farming as a solution to this issue. Farmers are employing cutting-edge technologies in vertical farming, which is anticipated to increase in the future.

Restraint:

Concerns over data privacy and regulations

Particularly with the advent of software applications for agricultural usage, there are ethical concerns about data ownership. It's possible, like in other technology fields, for a small number of businesses to control the majority of the client data. Thus, data security must also be taken into account. The integration of systems is made more difficult by a lack of technological standardisation, which also hinders market expansion.

Opportunity:

Growing population and increasing labor shortage

Labour shortages, even in rural areas, and growing labour prices are important factors driving the market's explosive growth. The market will eventually expand due to the rapid uptake of the newest technology, the introduction of creative techniques to improve manufacturing, and the growing population. Adoption of new technologies in areas where traditional methods are ineffective in feeding the growing population is increasing the market's growth.

Threat:

High cost of automation for small farms

The subsequent waves of automation have mostly left smaller farms behind. Auto-steering and drone technology are relatively advanced, but small farms have not yet adopted them widely. Instead of restricting their customers to a single purchase, many producers of agricultural equipment have started to lease their products. These factors are therefore impeding the market's expansion.

Covid-19 Impact

The next automation waves largely left smaller farms in the dust. Although auto-steering and drone technology is rather sophisticated, small farms have not yet extensively embraced them. Many manufacturers of agricultural equipment have started to offer their items for lease rather than requiring clients to make a single purchase. Thus, the market's growth is being hampered by these reasons.

The autonomous tractors segment is expected to be the largest during the forecast period

The autonomous tractors segment is estimated to have a lucrative growth, due to the quick adoption of the latest technologies and the launch if innovative systems. By automating industrial processes and removing the need for human intervention, automation technology has had a significant impact on many different industries. The market's growth rate is increasing as government organisations increasingly promote the introduction of new products.

The crop production segment is expected to have the highest CAGR during the forecast period

The crop production segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising awareness on increasing the production of the crop using different techniques. It is anticipated that the adoption of agricultural robots will be advantageous to the agriculture sector. The market is expanding at a faster rate thanks to artificial intelligence's rise in every industry.

Region with Largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing population and rising sustainable demand to feed the people. Additionally, expanding financial resources and public knowledge of robotics technology are having a significant impact on market demand. Increased adoption of automated technology, rising food and feed need, increased interest in indoor farming, and weather uncertainty are all factors that are boosting market demand.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the adoption of drones in agriculture industry. Drones are currently being used by farms for a variety of agricultural jobs. They are at the forefront of the industry when it comes to the use of drones and autonomous vehicles. An increasing number of agricultural applications are utilising robotics. As a result, market expansion is being driven by technical advancements.

Key players in the market

Some of the key players profiled in the Agricultural Robots and Mechatronics Market include Deere & Company, Precision Hawk, Agrobot, Blue River Technology, Yamaha Motor Company, AGCO Corporation, Harvest Automation, Naio Technologies, Lely Industries, Agribotix LLC, IBM, Trimble, AG Eagle LLC, GEA Group Aktiengesellschaft and DeLaval Inc.

Key Developments:

In February 2023, Yamaha Motor Co., Ltd has announced that it has established a new company in Singapore aimed at expanding its business in Southeast Asia and India, where demand for robots is growing, and intends to secure new clients, as well as provide high-quality after-sales services in line with international standards.

In October 2022, Yamaha Motor Co., Ltd has announced that the company has developed a new product, the FAZER R AP, which adds an automatic flight function to the FAZER R industrial unmanned helicopter used for agricultural applications and to help further improve spraying efficiency.

Types Covered:
• Milking Robots
• Unmanned Aerial Vehicles (UAVs)
• Autonomous Tractors
• Other Types

Applications Covered:
• Animal Husbandry
• Crop Production
• Forest Control
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements