Agriculture Robots Market is projected to reach $23.9 billion by 2030, at a CAGR of 15.8% from 2023 to 2030. The growth of the agriculture robots market is driven by the rising adoption of drones for smart farming and increasing government initiatives supporting the agriculture sector. However, the high costs of implementing agricultural robots may restrain the market’s growth.
Furthermore, the increasing integration of artificial intelligence into agricultural robots is expected to offer significant growth opportunities for the agriculture robots market. However, data privacy concerns may hinder the growth of this market.
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Meticulous Research® has segmented this market based on offering, deployment, automation type, end use, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
In 2023, the Hardware Segment is Expected to Dominate the Agriculture Robots Market
Based on offering, the global agricultural robot market is segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the larger share of the agriculture robots market. The segment’s large share is attributed to the increasing adoption of livestock management robots, rapid automation of agricultural processes, growing population, and shortage of labor.
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The Outdoor Segment to Register the Highest CAGR During the Forecast Period
Based on deployment, the global agriculture robot market is segmented into indoor and outdoor agriculture robots. The outdoor segment is slated to register the highest CAGR during the forecast period. The growth of this segment is driven by the growing population, shortage of labor, and increasing need to monitor weather and climatic changes for outdoor farming.
Key Players
The key players operating in the agriculture robots market are Yanmar Holdings Co., Ltd. (Japan), AgEagle Aerial Systems Inc. (U.S.), Lely International N.V. (Netherlands), BouMatic (U.S.), DJI (China), Deere & Company (U.S.), XAG Co., Ltd. (China), Clearpath Robotics Inc. (Canada), Naio Technologies (France), Robotics Plus Limited (New Zealand), GEA Group Aktiengesellschaft (Germany), DeLaval (Sweden), and Small Robot Company (U.K.).
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