LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global agricultural robots market to grow to USD 4,404.8 million by 2021, at a CAGR of close to 18% over the forecast period, according to their latest report.
The research study by Technavio on the global agricultural robots market for 2017-2021 provides a detailed industry analysis based on the product (drones/unmanned aerial vehicles, robotic milking systems, farming robots, and livestock management robots) and geography (EMEA, the Americas, and APAC).
The global agricultural robots market is expected to gain traction with the increased emphasis by operators in agricultural environments on combating issues such as rapid population growth and the increased need to meet demand by providing food at progressively more competitive prices. The US, Europe, Australia, and Japan are the major adopters of robotic systems and autonomous agricultural machinery.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global agricultural robots market:
- Advances in computing and communications
- Precision agriculture gaining traction
- Developments in the sensor market
Advances in computing and communications
“Key vendors in the market are innovating their agricultural drones and robots in tune with the technological advances to expand their offerings and gain a competitive advantage in the market. Also, sensors have been upgraded with the ability to improve the adaptive and intelligent capabilities of these drones,” says Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for robotics research.
The latest drones in the market are capable of performing predetermined functions, provide excellent quality images, and gather environmental data regarding features such as temperature, salinity, depth, and currents. With more technological advances underway, future drones are expected to have intelligent capabilities, with the UAVs expected to be capable of autonomous behavior.
Precision agriculture gaining traction
Precision farming – a farm management process, is bringing about a paradigm shift in agriculture. The technique involves the observation, measurement, and response to variability in crops. Its primary goal is to optimize the utilization of farm resources and ensure maximum yield. A major method followed to attain this goal is to minimize the crop health variability within and across fields, by measuring agricultural variables such as yield, soil content, and weed growth; and subsequently apply specific treatments. The method is widely adopted in the areas of Europe, the US, and Australia, where farms are large, and the business models emphasize on maximizing profitability.
Developments in the sensor market
Vendors in the agricultural robots market are capitalizing on the availability of mobile, intelligent, and connected sensors to improve the capabilities of their product offerings. Another major factor that is expected to impact the growth of the market is the miniaturization of sensors, which has led to a reduction in costs of sensors, and thereby the products in which they are used.
“The continued price decline of sensors has led to the emergence of more affordable robotic parking systems. Sensors with the ability to improve the adaptive and intelligent capabilities of drones have had a huge positive impact on the agricultural robots market,” says Raghav.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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