The Global Agricultural Robot Market Will Quadruple in 2026
The Asia-Pacific market is considered to be the region with the highest growth rate of the agricultural robot market in the global market. During the forecast period, the increase in the use of automation in the agricultural sector and favorable government initiatives such as subsidies will boost the Asia-Pacific market. By 2026, the Asia-Pacific agricultural robot market is expected to grow at a compound annual growth rate of 19.7%, and revenue will reach US$3.7983 billion.
According to a report by the market research company Research Dive, by 2026, the size of the global agricultural robot market is expected to quadruple.
The market size of agricultural robots in 2018 was US$4.0828 billion, and is expected to reach US$16,640.4 million by 2026. It will grow at a compound annual growth rate of 19.2%.
In North America, revenue in 2018 was US$1.4698 billion and is expected to grow at a compound annual growth rate of 18.9%.
Agricultural robots are robots developed for agricultural work. Currently, these robots are mainly used in the harvesting stage. These fully automated robots will promote the overall development of the agricultural industry, reduce the intensity of human work, reduce human expenditure and agricultural labor time, and improve work efficiency.
Agricultural robots can perform soil exploration, weed control, plant seeding, environmental monitoring, cloud seeding, harvesting, and more. Agricultural robots are equipped with many tools and can perform multiple tasks at the same time.
Market driving forces and constraints of industrial robots
Increasing demand for food supply, population growth, and the application of new “vertical agriculture” are some of the factors driving the growth of the agricultural robot market.
According to data from the World Health Organization (WHO), the world’s population is currently accelerating. It is predicted that by 2050, the world’s population will reach 9.7 billion.
At the same time, the demand for food supply will increase significantly. With the help of robots, the work of agricultural farms can be completed faster, and the process of harvesting and processing of agricultural products can be greatly shortened.
The concept of “vertical agriculture” is accelerating its implementation all over the world. This farming mode can save irrigation water while at the same time maximizing the use of land, reducing agricultural land occupation and increasing yield.
The high cost of agricultural robots is considered to be one of the biggest constraints to its development, restricting the growth of the market. Due to the high price of robots, many farmers who lack funds cannot afford to use them, which directly leads to the slow growth of the market. In addition to cost issues, farmers’ lack of understanding of robot operations will also become a major factor hindering market growth.
Drones are expected to have the highest growth rate
The agricultural drone market segment is expected to occupy the largest market share in 2026. The revenue of this segment in 2018 was US$408.3 million and is expected to reach US$1.763 billion by 2026.
These robots help increase crop yields and also help monitor crop growth. They can also help farmers optimize agricultural operations, which will further improve land use efficiency.
The driverless tractor segment was valued at US$939 million in 2018 and is expected to reach US$3.7143 billion by 2026. An unmanned tractor can automatically detect its position and speed without supervision, and avoid obstacles when performing tasks. Many countries have adopted unmanned tractors in farmland, which helps them reduce labor costs.
Customized dataset
With the acceleration of the commercialization of AI and the application of AI technologies such as assisted driving and customer service chatbot in all walks of life, the expectation of data quality in the special scenarios is getting higher and higher. High-quality labeled data would be one of the core competitiveness of AI companies.
If the general datasets used by the previous algorithm model are coarse grains, what the algorithm model needs at present is a customized nutritious meal. If companies want to further improve certain models’ commercialization, they must gradually move forward from the general dataset to create the unique one.
End
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source: https://36kr.com/p/1269359597393539
